Not so long ago, it is usual for investors to make fortunes in real estate. It was nothing to buy a home, wait a short while, and then sell it at a tidy profit, and then do it over and over again.
As you are no doubt aware, times have changed. As good as the market may be at any given moment, home prices remain below what they were at their peak.
And buyers are far more discriminating: a large percentage of the homes listed for sale never sell. So it’s more important than ever to learn what you need to do to avoid costly seller mistakes and sell your home quickly and for the best possible price.
The 9 Step System to Get Your Home Sold Fast and For Top Dollar
Selling your home is one of the most important undertakings in your life. This nine-step system gives you the tools you need to maximize your profits, maintain control of the process, and reduce the stress that is always part of the home selling process. Sell my house in Sandy Springs
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- Know why you’re selling, and keep it to yourself.The reasons behind your decision to sell can affect everything from setting the price to how much time and money to invest in preparing your home for sale. Which is more important to you: the amount of money you walk away with, or how long your property is on the market before it sells? These different goals require different strategies.However, once you’ve determined your motivation, don’t reveal it to anyone except your realtor because they may use it against you at the negotiating table. When asked, simply respond that your housing needs have changed.
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- Do your homework before you set a price.Do not take the job of setting the listing price lightly. Once you set a price, you’re telling buyers the absolute maximum they’ll have to pay for your home, but pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours.This means that they have a basis for comparison, and if your home doesn’t compare favourably with others in the price range you set, you won’t be taken seriously by prospects or agents. As a result, your home could sit on the market for a long time and, new buyers in the market may think there is something wrong with your home that has kept it from selling.
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- Do your homework.In fact, your agent should do this for you. Find out what homes in your own and similar neighbourhoods have sold for in the past 6-12 months, and research what currently listed homes are listed for. That’s exactly how prospective buyers will assess the value of your home.
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- Find a good real estate agent to represent your needs.Almost three-quarters of homeowners say they wouldn’t use the same realtor who sold their last home. Dissatisfaction is frequently due to poor communication, which results in not enough feedback, lower pricing and strained relations. Request your free copy of our report, “10 Questions to Ask Before You Hire an Agent” to learn about the questions you should always ask when you interview agents who want to list your home.
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- Maximize your home’s sales potential.Corporate North America spends billions on product and packaging design every year. Appearance is critical, and it is foolish to ignore it when you sell your home.While you cannot change your home’s location or floor plan, you can do a lot to improve its appearance. The look and feel of your home triggers an automatic emotional response in potential buyers.
Clean like you’ve never cleaned before. Pick up, straighten up, remove clutter, scrub, scour, and dust. Fix everything, no matter how insignificant it seems. Present your home to get a “Wow!” response from prospective buyers.
Create an atmosphere that will encourage buyers to imagine them living in your home. The decision to buy a home is based on emotion, not logic. Prospective buyers want to “try your home on” just like they would a new garment. If you follow them and point out every improvement, or if your decor is so unusual that buyers can’t push it out of their minds, you’re making it difficult for them to feel comfortable enough to imagine the home.
- Maximize your home’s sales potential.Corporate North America spends billions on product and packaging design every year. Appearance is critical, and it is foolish to ignore it when you sell your home.While you cannot change your home’s location or floor plan, you can do a lot to improve its appearance. The look and feel of your home triggers an automatic emotional response in potential buyers.
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- Make it easy for prospects to get information on your home.It may surprise you to know that some of the most frequently used home marketing strategies (traditional open houses, for example) really are not very effective. In fact, only 1% of homes are sold at an open house.And prospective buyers calling for information about your home value their time as much as you value yours. They do not want to be subjected to a game of telephone tag with an agent, or an unwanted sales pitch. Make sure the ads your agent places refer inquiries to a 24 hour, pre-recorded hotline with a specific ID number for your home. It should provide detailed information about your property day or night, seven days a week, without having to talk to anyone. Three times as many buyers call for information about homes under this system. And the more buyers that are competing for your home, the better, because it can create up auction-like atmosphere that puts you in the driver’s seat.
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- Know your buyer.During negotiations, your objective is to control the pace and set the duration. Determine your buyer’s motivation. Find out if the buyers need to move quickly. Will they be able to pay your asking price? Having this information gives you the upper hand in negotiations, because you know how far you can push to get what you want.
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- Make sure the contract is complete.As a seller, be certain to disclose everything. Smart sellers proactively go above and beyond the legal requirement to disclose all known defects, in writing, to buyers. If you tell buyers in advance about known problems, they can’t come back with a lawsuit later on.Make sure all terms, costs, and responsibilities are spelled out in the sales contract, and resist the temptation to override the contract. For example, if the buyer asks to move in prior to closing, just say no. Now is not the time to take a chance on the sale falling through!
- Don’t move out of your home until it’s sold.Studies show that it is more difficult to sell a vacant home because it looks forlorn, forgotten, and simply not appealing. It could even cost you thousands. And if you move, you’re telling buyers that you have a new home and are probably motivated to sell fast. This gives the buyer the advantage at the negotiating table.
If you follow the nine suggestions in this article, you’re much more likely to be able to sell your home quickly and for top dollar.