Top 5 Mistakes Home Sellers Make

1. Basing your asking price on needs or emotion rather than market value. Many times, people make their pricing decisions based on how much they paid or invested into their home. This can be an expensive mistake. Overpriced homes take longer to sell and eventually net the seller less money. Consult with a professional real estate agent. They can assist you in pricing your home correctly for the beginning. If your home is not competitively priced, you could miss an opportunity to sell.
   
2. Failing to "showcase" your home. First impressions are the most important. Experience shows that for every $100 in repairs that your home needs, a buyer will deduct $300-$500 from their offer. The fewer problems buyers see, the easier it is for them to picture themselves as the new owners. Thoroughly clean and prepare your home before you put it on the market.
   
3. Choosing the wrong agent or choosing them for the wrong reasons. Many homeowners list their home with the agent who works for the biggest company. You need to choose the agent with the best marketing plan and track record to sell your home.
   
4. Signing a listing contract with no way out. Most traditional real estate agents want you to sign a listing contract with no way out. When you list your home with me, you can cancel your listing agreement at any time, no questions asked.
   
5. Not knowing all of your legal rights and obligations. Real estate law is complex. The contract that you will sign when selling your home is legally binding. Small items that are neglected in a contract can wind up costing you thousands of dollars. You need to consult a knowledgeable professional who understands the in's and out's of a real estate transaction.

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15 Home Listing Tips

1. Price Your Home Right. Your agent can research comparable sales in your area and advise you of the appropriate price range for your property.
   
2. Be Flexible on Financing Terms. Have your agent explain what financing options are available. Flexibility on financing terms may secure a better selling price.
   
3. Time it Right. Ask a real estate professional to determine whether the market cycle is poised to net you the most money.
   
4. Make your property accessible to buyers. Lock boxes are a great way to make your home most accessible to agents for showing. Appointment-only showings are the most restrictive. If your lifestyle is not compatible with frequent showings, your agent will help you determine a solution to suit your needs. Remember, the easier a home is to show, the better the odds are of getting the deal you want.
   
5. Use the latest marketing technology. Make sure your agent utilizes the latest technology, such as internet sites that cater to homebuyers. In some areas, cable access advertising is popular. Others use 800-number interactive voice response systems. A good agent will know where you can get the best exposure.
   
6. Stage your property correctly. Put some items in storage, create more light, play music or otherwise improve the ambience. Your agent can offer helpful advice to create the right first impression.
   
7. Remember that selling property is not seasonal. Do not base selling decisions on the seasons. Property sells year-round.
   
8. Re-evaluate the marketing plan. Re-evaluate your agent’s marketing plan every 10 days. Make needed adjustments based on the current market and buyers.
   
9. Analyze why you are not getting offers. Eighty percent of all buyer activity comes from signs and MLS listings. So, if you are not getting offers and are flexible with showing your home, it may be time to re-evaluate your price, not necessarily your agent.
   
10. First impressions are golden. Sales have gone south thanks to unkempt lawns, cluttered closets, unpainted front doors, hard-to-work locks, blown light bulbs, bad colors, stains, unlit areas, and foul smells. Spend time on the little things. Double up on your gardening. Keep things cleaner than usual. Take serious control of your pets during this time period.
    
11. Make the right kind of repairs. Before making improvements, prior to listing, consult a real estate professional. Some upgrades will not yield any real increase in value, while others may increase property value substantially. Ask for low-cost solutions to minor repairs that will yield the best profits.
    
12. Give the sales process enough time. Homes may take 3-6 months to sell in any market. Estimate how much time you have before you need to sell and then plan ahead to allow extra time. You don’t want to be forced to accept a disappointing offer.
    
13. Screen prospect adequately. One of the best reasons for hiring a realtor is his or her ability to pre-qualify a prospect financially so that you don’t lose valuable negotiation time. Your agent may discover when a prospect has an ulterior motive for shopping homes.
    
14. Believe that you can make a difference. The top agents in the industry report that their sellers are responsible for at least 1 out of 10 sales. You can network with your business and personal friends, hand out flyers, and keep your house in move-in condition. Your realtor should be ready to hand you all sorts of assignments to make the team effort successful.
    
15. Test the market. Never put your property on the market unless you really want a sale! Get ready for a professional sales push when you list with a great agent. If your plan harbors some indecision, resolve it before you list because success is every great realtor’s objective!

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Presenting Your Home

Enhancing how your home shows to potential buyers can help sell it more quickly and often improve the selling price.

Shine From the Street
A well-kept, neatly landscaped property can be very inviting to the potential buyer interested in viewing your home. Refuse containers should be out of view, and the lawn should be freshly trimmed. Fertilizing a few weeks prior to listing will help your lawn look lush and green. Woodwork should be free of chipped or cracking paint.

Polish Your Entry
The front door should be clean or freshly painted. Brass knobs should be polished. Consider placing a planter of fresh flowers on your front porch.

Minor Repairs- A Major Plus
Repair all loose doorknobs, cupboard higes, dripping faucets, stained sinks, loose or missing caulking, sticking doors and windows, and damaged or missing window screens.

Clutter is Unattractive
Tidiness makes a room look larger and helps the buyer visualize his/her décor in your home. Workout rooms, sewing rooms, laundry rooms, and home offices should be as organized and clutter-free as the main living space in your home.

Lighting Does Wonders
An open, airy feeling generates comfort and welcomes the potential buyer into your home. Drapes, curtains and mini blinds should be open to allow plenty of light in your home. Turn on all the lights when showing your home at night.

Closet Space is a Plus!
Neat, well-organized closets appear larger. Larger closets help sell homes.

Bathrooms that Sparkle
Remove stains from sinks, toilets and bathtubs, including hard water spots on shower enclosure doors. If drains run slowly, unclog them. Hang fresh towels on the towel rack.

The Clean Kitchen
Make the most important room in the house appear larger by clearing clutter from the countertops. Avoid dirty dishes in the sink. All countertop appliances should be kept out of view. Replace or repair worn-out flooring. Clean the ventilating hood over your stove. A brighter kitchen is always more attractive.

More Home Showing Tips….

1. Avoid having too many people present. The potential buyer may feel uncomfortable or pressured to hurry through your home.
   
2. Do not tag along or force conversation with the buyer.
   
3. Turn down the stereo or television so the buyer and realtor can talk undisturbed.
   
4. Keep pets out of the way, preferably out of the house.
   
5. Never apologize for the appearance of your home. Let your realtor handle any concerns the potential buyer may have.
   
6. Let your realtor negotiate price and terms with the potential buyer. Realtors are trained negotiators who know what the buyer is looking for in a home.

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Home Seller Generally Pays For...

1. Real Estate commission
2. Document preparation fee for Deed
3. Documentary transfer tax 
4. Any city Transfer/Conveyance Tax (according to contract)
5. Payoff of all loans in seller's name
6. Interest accrued to lender being paid off,  Reconveyance Fees and any Prepayment Fees
7. Termite Inspection (according to contract)
8. Repairs resulting from inspections (according to contract)
9. Home Warranty (according to contract)
10. Any judgments, tax liens, etc., against seller
11. Tax proration (for any taxes unpaid at time of transfer of title)
12. Any unpaid Homeowners' Dues Recording charges to clear after documents of record against seller
    
13. Any bonds or assessments (according to contract)
    
14. Any and all delinquent taxes
    
15. Notary Fees 
    
16. Escrow Fee (or one half - according to contract)
    
17. Title Insurance Premium for Owner's Policy