If you plan on selling your Windsor property this spring, you are in good company. Sellers today are encouraged by the rising home prices as well as the low-interest rates. Buyers have plenty of reasons to purchase a home now if they have been sitting on the fence waiting to see if homes will go any lower. The answer is no. We believe the worst is behind us and the market is moving.
While this is encouraging and welcoming news, owners need to think of the 3 “S’s” when getting their property ready to list: Sellers Sell Smart. When they follow this, they are bound to get top dollar for their home. So how does this work?
1. Don’t think of your home as the exception to the rule.
We all are attached to our home for the most part. Chances are, you have done improvements and remodeling and maybe you have raised your family and have great memories of your home. But for those that think their home deserves to be priced above all other similar properties is never a good idea. Don’t overprice your home because of an emotional attachment. This makes the whole process so much easier. Pay attention to comps because buyers and real estate agents are!
2. Tour the competition:
Whether online or at open houses, take the time to see what your home is competing against. Sellers should know the pricing trends and sales data in their market, but also should get a first hand look that is nearby and also for sale.
3. Interviewing 3 real estate agents:
By all means, when selling your home you are handling a huge financial transaction. Interview at least 3 highly respected and professional real estate agents. Contact their references and don’t hire an agent because they tell you everything you want to hear.
4. Not getting your property ready for sale.
In order for a home to sell at top dollar, it needs to be in tiptop shape. Don’t ignore those repairs, scuffed up hardwood floors or landscaping. Buyers are still picky and there will be plenty of competition this spring when your home goes on the market. Start today and devote plenty of time to getting your home ready. Not every repair is considered equal, so walk through your home with your real estate agent and know what you must absolutely do in order to a buyer to make a good offer on your home. If your budget is limited, pick the repairs that make the most sense:
- Repair Leaky faucets.
- Clean dirty carpeting, repair cracked tiles and polish worn hardwood floors.
- Paint where needed.
- Clean, declutter and organize!
5. Stay away during open houses and showings:
Sellers can’t stick around during open houses and showings as it unnerves buyers. Make sure you leave well before the showing and that any pets are gone as well. As much as we hate to say it, not everyone is a fan of animals, so keep everyone away if possible.
6. Don’t take negotiations personally:
This is a hard one for sellers. There are times where an offer might be so offensive it’s difficult not to get offended. But the best thing to do is to remember that it is not personal. After all, if a buyer didn’t like your home, they wouldn’t be making an offer. They are just trying to pay as little as they can. Remember, it’s not about you; it’s about them trying to get a good deal.
7. Not responding to all offers:
Even if the bid is so low that a buyer presents, don’t ignore it. Start negotiating with any buyer that makes an offer. If they don’t move, then you can at least say you tried. The problem with ignoring an offer is you don’t know how high a buyer will really go. They could be just getting a feel for where you are headed. This is why you want to make sure you hire a real estate agent that has excellent negotiating skills. Sometimes the best deals come out of the lowest offers.
8. Don’t forget Social Media:
Without a doubt, take to Facebook, Twitter and YouTube to get exposure for your home. Don’t list crazy home photos (or worse yet, no photos at all), but rather pictures that show your home in the best light. And buyers like to see several photos, not just one or two.
9. Don’t make trendy home improvements:
When selling your home and you decide to update your kitchen, or any other room, make it simple. Don’t do anything trendy that will be outdated quickly. Consider neutral colours that will appeal to the majority of homebuyers. You don’t need to spend lots of money either. Sometimes simply replacing the hardware on dated kitchen cabinets makes a world of difference.
10. Be honest:
If you have issues with the home, you need to disclose them. If you know that your roof is leaking or that your water heater works only occasionally, you will need to report this information. Not including this information can end up costing you money, so it’s always best to be honest upfront.