How To Get Your Home Sold Successfully ( Step Two Listing and Negotiation )
From Step One Preparation you possiblely have generally understood what you need do before listing, Now let’s talk about the process How to Get Your Home Sold Successfully: Listing and Negotiation, the tips key to your success selling.
Pricing Strategy. Make sure you have all necessary data to know your home value, which might not be your listing or sold price. You can use Higher than market price, Equivalent Market Price or Lower than market price as your listing price. There are for and cons of each strategy. Which one you need choose is totally dependent on your need and purpose.
When pricing your home Ensure You Have Room to Negotiate Before settling on your asking price, make sure you leave yourself enough room in which to bargain. For example, set your lowest and highest selling price. Then check your priori-ties to know if you’ll price high to maximize your profit or price closer to market value if you want sell quickly.
When listing your home Remember: Appearances Do Matter – Make them Count! Appearance is so critical that it would be unwise to ignore this when selling your home. The look and “feel” of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.
Invite the Honest Opinions of Others The biggest mistake you can make at this point is to rely solely on your own judgment. Don’t be shy about seeking the honest opinions of others. You need to be objective about your home’s good points as well as bad. Fortunately, your Realtor ® will be unabashed about discussing what should be done to make your home more marketable.
Get it Clean and Fix Everything, Even If It Seems Insignificant Scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeaks, the light switch that doesn’t work, and the tiny crack in the bathroom mirror because these can be deal-killers and you’ll never know what turns buyers off. Remember, you’re not just competing with other resale homes, but brand-new ones as well.
Allow Prospective Buyers to Visualize Themselves in Your Home The last thing you want prospective buyers to feel when viewing your home is that they may be intruding into someone’s life. Avoid clutter such as too many knick-knacks, etc. Decorate in neutral colors, like white or beige and place a few carefully chosen items to add warmth and character. You can enhance the attractiveness of your home with a well-placed vase of flowers or potpourri in the bathroom. Home-decor magazines are great for tips.
Deal Killer Odors – Must Go! You may not realize but odd smells like traces of food, pets and smoking odors can kill deals quickly. If prospective buyers know you have a dog, or that you smoke, they’ll start being aware of odors and seeing stains that may not even exist. Don’t leave any clues.
Be a Smart Seller – Disclose Everything Smart sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent law suits later on.
Try to Attract More Prospects When you maximize your home’s marketability, you will most likely attract more than one prospective buyer. It is much better to have several buyers because they will compete with each other; a single buyer will end up competing with you.
Keep Emotions in Check During Negotiations Let go of the emotion you’ve invested in your home. Be detached, using a business-like manner in your negotiations. You’ll definitely have an advantage over those who get caught up emotionally in the situation.
Learn Why Your Buyer is Motivated The better you know your buyers the better you can use the negotiation process to your advantage. This allows you to control the pace and duration of the process. As a rule, buyers are looking to purchase the best affordable property for the least amount of money. Knowing what motivates them enables you to negotiate more effectively. For example, does your buyer need to move quickly. Armed with this information you are in a better position to bargain.
What the Buyer Can Really Pay As soon as possible, try to learn the amount of mortgage the buyer is qualified to carry and how much his/her down payment is. If their offer is low, ask their Realtor ® about the buyer’s ability to pay what your home is worth.
When the Buyer Would Like to Close Quite often, when buyers would “like” to close is when they need to close. Knowledge of their deadlines for completing negotiations again creates a negotiating advantage for you.
Deadlines Create A Serious Disadvantage Don’t try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage in negotiations.
A Low Offer – Don’t Take It Personally Invariably the initial offer is below what both you and the buyer knows he’ll pay for your property. Don’t be upset, evaluate the offer objectively. Ensure it spells out the offering price, sufficient deposit, amount of down payment, mortgage amount, a closing date and any special requests. This can simply provide a starting point from which you can negotiate.
Ensure the Contract is Complete To avoid problems, ensure that all terms, costs and responsibilities are spelled out in the contract of sale. It should include such items as the date it was made, names of parties involved, address of property being sold, purchase price, where deposit monies will be held, date for loan approval, date and place of closing, type of deed, including any contingencies that remain to be settled and what personal property is included (or not) in the sale.
Resist Deviating From the Contract . For example, if the buyer requests a move-in prior to closing, just say no. That you’ve been advised against it. Now is not the time to take any chances of the deal falling through
