Selling your home? Here are some marketing tips to keep in mind:
Picket Fence Realty’s marketing efforts and considerations will include advertising, showing the property, how long the house has been on the market and whether you're buying another home. Your home should be listed through a Multiple Listing Service (MLS).
Properties are commonly advertised through Picket Fence Realty’s web site, Internet home search/listing services, classified advertising and real estate guides. Promotion efforts through office and MLS tours are a good way of getting other buyer agents to view your home and to promote it to the buyers they are working with.
Even with all these advertising avenues, “For Sale" signs on front lawns are still remarkably effective. When appropriate, and with your permission, we may send a mailing about your property to neighbors. Sometimes one of them has a friend or relative who always wanted to live near them. You never know how far reaching the benefits of word-of-mouth advertising by friends, relatives and neighbors can be.
To prepare your home for viewing, make it as bright, clean, cheerful and serene as possible. Always look at your home from the buyer's point of view. Your REALTOR® will probably find a tactful way to suggest that you be absent while the house is being shown to prospective buyers, because your presence will inhibit their actions and conversations. They won’t feel free to open closets and cabinets, test out the plumbing and discuss their observations objectively as they walk through the house. It goes without saying that your children and pets should not be on the premises either.
If your REALTOR® has scheduled an open house, you may want to notify the neighbors, and assure them that they'll be welcome. They'll jump at the chance to poke around in your house, and sometimes they can turn up a buyer among their friends.
Professional appraisers sum up their entire body of knowledge in three words: “Buyers make value." Your home is worth as much as a buyer will pay for it.
If your home has been languishing on the market for months, it’s a clear message that the property may not be worth what you're asking for it. This is particularly true if there haven't been many prospects coming to see it. What you do at that point depends on whether you really need to sell, and whether you're working with a time limit.
If you're not really motivated to move soon, you can always wait - years if necessary - and hope inflation will catch up with the price you want. The problem is that in that time, your home begins to feel shopworn. Buyers become suspicious of a house that's been for sale for a long time. Meanwhile, you’re making mortgage payments, insurance payments, and paying for upkeep and repairs.
If you really do need to sell, talk to your REALTOR® about creating a schedule for gradually dropping your price until you find a level that attracts buyers. There's no point in saying, “We simply can't sell our house." Anything will sell if it is priced right.
You may wonder what will happen when you're selling one home and buying another – how will all the details work out? This is a common situation and REALTORS®, lawyers, and title and escrow companies have plenty of experience in arranging contracts and loans so that the two transactions dovetail smoothly.
And should you sell your home first then buy or buy first then sell? Ideally, it’s best to find a home you like and make an offer subject to selling your current home. At the very least, begin educating yourself about the market where you intend to move. Research the housing inventory, turnover, and pricing so you have a good idea of whether you’ll be able to find what you want in a reasonable period of time. Most sellers are leary of taking a “subject to sale” offer, particularly if you don’t have a contract already on your home, or if your house isn’t even on the market yet. In a “hot” market most sellers will not accept a “subject to sale” offer. In this case you need to sell your home first and then buy a new home in the interim period between selling and vacating your house.
If you find that you need to buy the next house before you've received the proceeds from the present one, lending institutions can sometimes make you a short-term “bridge" loan to tide you over between the two transactions. Talk to your REALTOR® and trusted lender to make sure you fully understand the exposure and emotional investment involved in this type of loan.