Buy Me

June 5, 2007 at 6:10 pm Leave a comment

I was watching a real estate show on HGTV last night called Buy Me. This particular show featured a couple living just north of Chicago in a beautiful Victorian-style home. Throughout the show, the owners were butting heads with the realtors over a variety of issues that are quite common when selling one’s home. One of the issues that stood out to me the most, and had me absolutely irritated was the condition of the home at the moment it was listed.

One of the homeowners was peeved over having to remove the artwork that simply cluttered the home. “It doesn’t look like home anymore,” she exclaimed. The predominant theme on this show is the single fact that home owners can’t put themselves in a buyers shoes. They adamantly remain subjective about the very home they ‘have’ to sell and then blame the realtor(s) when the home doesn’t sell.

In honor of HGTV’s Buy Me and anybody who is thinking of selling your home, here’s a brief list of things to remember and do to sell faster and get the most value.

1. The first and probably most important thing to remember when selling your home, is that you need to think like a retailer. When you list your home, it is no longer your home. Greasy little fingerprints are not cute, they are messy and most buyers can’t overlook it. Walk through your home and ‘think’ like a buyer.

You want to differentiate your home from others that are for sale in your area. Make sure it’s clean and decluttered. Buyer’s are more likely to buy your home if they don’t have to use their imagination to see themselves living in it. It’s as simple as that.

2. Your home should be in ‘near-perfect’ condition before you list it. A little elbow grease goes a long way. If you’ve seen Buy Me, you’ve probably heard of Designed to Sell. It’s one of my favorite shows. They work within a $2000 budget to make the little changes to a house, whether it be paint or cleaning, and many times, the sellers get five to ten times more in return. It’s not that hard and it’s not that expensive. It’s worth it.

3. Pay attention to curb appeal. Preparation and detail will attract buyers. Trim the bushes, pull some weeds, edge the sidewalk, and rake/sweep the leaves. Buyers notice realtor signs, but curb appeal gets them in your home.

4. A good realtor will make you more money than they cost. For sale by owner or FSBO’s are very common nowadays. But that FSBO sign communicates one thing to buyers: they can get this house cheaper because they don’t have to pay commission. Think about it for a second. How can the seller AND the buyer save the realtor’s fee? They can’t. Most of the time, buyers end up on the winning end.

A realtor also brings a third party negotiating position, which is much stronger than an inexperienced home seller in face-to-face discussions. My mother-in-law bought a house $10,000 under asking price because she was a much stronger negotiator than the gentlemen she bought the house from, who decided to sell the house without a realtor.

Realtors are also less likely to make mistakes when selling a home. Things like transactions, contract negotiation, the true value of the home, points, and closing. Realtors also have access to better and more marketing tools to sell your house faster.

If you’re selling or are thinking about selling your home, take these 4 points into consideration. They can end up bringing you that sale you’re looking for.

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Entry filed under: Real Estate and Mortgages.

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