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My Advice to Sellers: Don’t Overprice Your Home
Hi there! Here’s another tip for you when you’re thinking of selling your house…
One of the most well-known real estate mantras your real estate professional should tell you is this: “If you overprice your home, it will take longer to sell and it will sell for less money.” Yet, many sellers continue to believe their homes can defy market physics. I understand. You have a lot of great memories and have put a lot into your home and you want it paid back.
But the real truth is, if you really want to sell, overpricing seldom works because buyers search for homes online according to their loan qualifications. If their ceiling is $500,000, they’re not going to search for more expensive homes (in this case over $500,000), and if your home is priced at $505,000, it won’t be found by the buyers who are most qualified to buy it. And remember, when buyers can afford more, they’ll compare your home to other homes in the same price range and your home may fall short in features, location or condition.
Also, remember search price increments vary depending on scale. Buyers use $10,000 increments for $100,000 homes and $100,000 increments for million-dollar homes. Pricing just over a logical range end point like $255,000 or $505,000 will exclude that home from some search results. If you price just under a range end point, like $498,000, your home will be seen by the buyers who are most likely and able to buy your home.
And, while some buyers’ search in higher price ranges than their rounded end point, their intention is to offer less, so that makes setting a higher price for your home counterproductive. And buyers like to feel they’re getting a ‘deal’, so pricing it a little lower, could help generate the attention of multiple buyers and get the price bid up.
Your best chance of selling your home quickly for the highest price possible is to attract buyers who see your home as well priced. You’ll attract more serious buyers who make higher offers with fewer negotiations. And that my friends is what all sellers really want!
I hope this is helpful – remember for tips and other up to date real estate information – “like” me on Facebook at Laura’s Choice Realty! And don’t forget to enter your email and subscribe to Laura’s Choice!
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Staging Tips To Help Sell Your Home FAST!
Any professional home stager will tell you that the basic principals remain the same throughout the year—keep things clean, clutter free and colorful. Each season has its own special set of rules. There are a number of things you can do both inside and out to emphasize each time of year:
- Add splashes of seasonal color to your porch with potted flowers in spring, Poinsettias during the holidays, pumpkins and mums in the fall, etc. Greenery accents also add a nice touch. By introducing seasonal colors, your home becomes very attractive to prospective home buyers.
- Bring seasonal colors into a home with accessories like throw pillows, area rugs, artwork, towels and bedspreads. If you change accessories, the whole house changes.
- Use decorative knickknacks that speak of the season, such as pears, eggs, and seashells. Add fun seasonal patterns in fabrics and wicker where you’re able.
- Consider updating the drapery panels in a home or office.
All rooms are important and there are ways to liven up each. You want the buyer to absorb the whole house, not just one or two staged rooms, so it’s important to create a cohesive design.
And how about the great outdoors?
- Remove fallen leaves and dead plants.
- Maintain your lawn. Clean up any toys and clutter around your property.
- Add bright, new plants where you can.
- Trim bushes and hedges.
- Scour outdoor furniture if appropriate. Plump the cushions.
- Sweep porches and patios. Hang a decorative flag.
If you can take advantage of all that each season has to offer when sprucing up your home to sell, you’ll find you have much better luck selling it than if you choose not to stage. And if you’d like some friendly assistance just email me and I’ll be happy to help!
And don’t forget to “like” me on Facebook at Laura Kubicki Realty for even more up the minute staging and other ideas for your home!
5 Simple Ways To Selling Your Home – FAST!
Are you ready to sell your home quickly and at the highest price possible? Then your home must be exposed to qualified buyers who are serious about finding a home.
So what do serious buyers look like you ask?
They’re ready to buy and show it by getting prequalified by a lender and knowing their price range. They have criteria to meet, including likes and dislikes. They have a moving date in mind. They’re represented by a real estate agent who is looking out for their best interests, (just like I’d be looking out for yours)! They’ve already eliminated homes using the Internet and determined your home is on the short list. They can also make a solid offer on the right home today – which is of course what you’re looking for!
Serious buyers aren’t nosy neighbors, open house explorers, or people who can’t or won’t make a realistic offer. Serious buyers won’t waste your time because they don’t want to lose the opportunity to buy your home to another buyer.
As your listing agent, my job is to network, advertise, and market to make serious buyers aware of your home. How attractive your home is to buyers is up to you. Here are five ways that help me attract buyers to your home.
- Verify market prices. I help out with this!
- Stage your home to best advantage. Declutter, depersonalize, clean it, paint it, and enhance curb appeal with fresh landscaping.
- Fix everything that’s a problem. No leaks, chips, smells. Move-in ready condition is what most buyers want. Don’t give buyers room to argue price due to condition.
- Do something extra for your home. Some updating, fresh paint, new appliances, or new countertops can work wonders!
- Be a serious seller. Just as a serious buyer is ready to buy, show you’re ready to sell by offering your home at an attractive price, being flexible about moving dates and other terms, and making your home available for viewing with their agents.
Implementing these five tips will move you seriously closer to selling your home!
Good luck my friends! Till we meet again…live happy!