July 25, 2017
Want to Get the Most Money for Your Home? Don’t Do These 9 Things
Selling a home and getting it closed can be difficult when you get the top price for a home. There are certain things that you should and should not do. Before we start inspections are key in selling a home and making sure repairs are done. This gives the buyer confidence they are getting a great home. This story comes from http://www.realtor.com/ by Daniel Bortz
I always throw in a home warranty that also gives the buyer confidence that the home will be low maintenance the first year. They can extend a home warranty for about $40-$50 a month and it is well worth it and helps keep maintenance cost to a minimum .
“1. Ignoring your agent’s advice: A good listing agent
can assist you with pricing your home, marketing it, negotiating with
buyers, and guiding you through the closing process. That’s a lot of
responsibility—and you might feel slightly uncomfortable putting your
faith in a stranger’s hands. However, because your agent has a fiduciary
responsibility to look out for your best interests, you need to trust
the person’s advice. So, if your agent says to do something—like make a
price reduction—you should do it, says Daniel Gyomory, a real estate agent in Northville, MI.”
You have to look at what is selling in the area and go with those prices. Being BPO (Broker Price Op-ion) there are upgrades that are worth more than others. Getting the top price for a home requires to have the prices right when you first list a property. Realtors need to know what value certain upgrades bring to the home. When a buyer sees your home the price needs to be right.
“2. Neglecting important repairs prior to listing your home:
Most home buyers will require a home inspection contingency.
But that doesn’t mean you should wait for the home inspector to tell
you what to fix. If your home has noticeable flaws, go ahead and ask
your agent whether you should address them before putting your house on
A lot of sellers love their home, because they designed it for them and their family. Not everyone has the same taste that they do. I showed a home yesterday that was very updated and had the current colors in the interior that were up to date. Sold a home to a client in Chagrin Falls that was very out dated and the seller came down $24,000 because of the dated look.
Having a home that presents well is very important and it gets more important as your home prices go up. Go through open houses in your area and see what your competition is and how their updates stack up to yours.
“7. Reviewing offers with a closed mind
Many people form an
emotional attachment to their home. But don’t let those feelings cloud
your vision, especially when you receive offers.
In an ideal
world, you’ll nab a full-price (or higher) offer for your home, but
be willing to negotiate if you receive an offer that’s below list price.
people will have their mind made up that they won’t take a dollar less
than their asking price,” which can kill a potential sale, Gyomory says.
Trust your agent to negotiate on your behalf to help you get the best
This is a huge hurdle to get over with low offers. Do not get emotional about an offer, it is just an offer. I personally call the agent before I send one over and tell them why we have that type of offer. We had two homes last month we put in escrow that we did that with. The seller countered and we got both deals done and had happy buyers and sellers. Me and the other agents also worked hard to get these deals done.
These are the 3 most important issues for me. If your selling or buying a home keep in mind that a good Realtor can handle all the issues that might come up in selling your home before you list. This makes a stress-free buying and selling experience.