27 tips for Selling Your Home Fast, and for the Most Money!
1. Know the reasons why you are selling your home. Determining a proper marketing strategy for selling your house depends upon your motivations for the sale.
2. Keep your motivations for selling your home to yourself. By revealing to a prospective buyer that you need to sell your house quickly, you are putting yourself at a great disadvantage during the negotiation process.
3. Analyze the market properly before setting your price. Ask your real estate agent to provide you with comparable homes in your area that have sold in the last 6 to 12 months, and for what price.
4. Pretend to be a buyer yourself. Attend as many open houses in your area as possible to check out the competition.
5. Get a proper appraisal. By offering a current appraisal on your home to prospective buyers, you can show that your home can be properly financed, and that your asking price is fair.
6. Know the meaning of a tax assessment. This is usually an inaccurate way to judge the value of a home, since tax assessors look at a different set of criteria that may or may not be connected to the actual value of the property.
7. Choose the right agent for you. You should hire a real estate agent the same way you would hire a new employee for your company.
8. Leave yourself plenty of room to negotiate. Before you settle on a specific asking price, determine in advance the minimum amount you’ll accept for your home.
9. Ensure that your house makes a great first impression. People need to make an emotional connection to a house before they buy it. They need to picture themselves living comfortably there.
10. Ask others what they think about your home. Don’t rely upon your own opinions...it’s your house, so you are definitely biased!
11. Obsessively focus on the details of preparing your house. Even a minor crack or smudge can be a deal killer when showing a house. Fix everything you possibly can, even if it seems insignificant. Make sure your house is clean and uncluttered at all times.
12. Let the house sell itself. Avoid using a hard-sell approach when you are showing a prospective buyer your home. Let the buyer imagine themselves living in your home by standing back and giving them room to explore.
13. Address all odor issues. Some buyers can react strongly to odors caused by pets, food and smoking. Stale smells can be an immediate deal-killer.
14. Disclose everything about your home in writing. Never knowingly conceal defects in your home. Being dishonest about the condition of your home can lead to a lawsuit later.
15. Court as many prospects as possible. The more buyers you have interested in your home, the better your position will be at the negotiation table.
16. Don’t get defensive or personal during negotiations. Remain businesslike and professional at all times.
17. Find out what motivates your buyer. Keeping your motivations for selling your home to yourself gives you an advantage during negotiations, and finding out what motivates your buyer gives you that same advantage.
18. Find out how much the buyer can afford. Discovering the amount of mortgage pre-approval, and how much down payment they can
afford will definitely give a bargaining advantage.
19. Find out how quickly the buyer wants to close. Being aware of a buyer’s deadlines can be especially useful when negotiating.
20. Avoid a “Real Estate Catch- 22.” Make sure you optimize the timing of the sale of your old house with search for your new home. If you sell your old house too soon, you may be temporarily homeless. If you buy your new house too soon, you may have to make two mortgage payments at the same time.
21. Don’t move out of your home until it is sold. An empty house is harder to sell because it looks forgotten, and it may be harder for the
buyer to visualize themselves living there comfortably.
22. Avoid setting deadlines during a real estate transaction. This can add unnecessary pressure during a negotiation, and put you at a great disadvantage.
23. Don’t be defensive about low offers. This is all part of the bargaining process, and most likely the buyer won’t take it personally if you
decline this first offer.
24. Remain firm during the negotiations. If you do receive a low offer, let the buyer know you’re serious about your asking price by coming up with an immediate counteroffer that is closer to the amount you are really hoping to get.
25. Consider the reasons why an offer is low. This might be an indication that a buyer has not been pre-approved for a mortgage of that size. Find out if this is the case before you spend any more time negotiating with someone who may not be qualified to buy your home.
26. Make sure all contracts and other paperwork are complete. Make sure all costs, terms and responsibilities have been specifically defined by the contract so that there are no delays or surprises later. Make sure all paperwork notes the date the contract was signed, and that the contract includes all of the proper information, such as the location of the property, the names of the parties involved with the deal, the date for loan approvals and closing, the type of deed, and all other pertinent information.
27. Do not stray from the contract. Changing even minor details of the contract, such as a move-in date, can jeopardize the entire deal. If the buyer wants to make a change to the contract at the last minute, tell them no.