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Real Estate Success Tips
"No matter what I do, I just
can't sell my home," you exclaim! Actually, most homes can be sold in today's market in a reasonable amount of time, generally within two or three months. There are nine steps in selling a home. If you're having a problem selling your home, review the following to try and determine where the problem lies: STEP 1 - ANALYSIS: The critical element is to correctly predict the price your home will bring in current market conditions. When you get the expected value of your home wrong, you're in for trouble from the start. The typical problem is that a home is priced too high for the market. This is the case for the majority of homes currently for sale. It is either the fault of the realtor, the seller or both. You decide. STEP 2 -
MULTIPLE LISTING SERVICE WORDS AND PRICE: The data entered into the Multiple
Listing Service computer will affect the number of times your home's information
appears in other realtors' computer searches of properties to consider. It will
also determine whether your home will be shown to a prospective buyer. Carefully
review the words and the price. STEP 3 - TRAFFIC: A home needs at least three or four showings weekly in order to confirm that it is "in tune" with the market. If few realtors call to show your home, the problem is certainly in steps 1 or 2 above. STEP 4 - REMEMBERING: It is important that the buyer is able to remember your home. The brochure he or she has picked up in your home will help. It is critical at this stage for the buyer to rank your home among the best of the 30, 40 or 50 he or she has seen and to keep it under active consideration. Be sure your home's brochure is well prepared. STEP 5 -
RETURN FOR A SECOND VISIT: If the buyer decides to return for a second
visit, either he or she has forgotten some detail or, more likely, your home is
on his or her "short list." It is most important to alert your realtor promptly
and to put your home's best foot forward at such a critical time. STEP 6 - THE OFFER: When you receive a written offer, your home is almost sold: At this point most buyers have decided your home is the one. But be careful: Many will have a second choice, and a good buyer-broker will not forget to mention this when the contract is presented. STEP 7 -
AGREEMENT: Assuming you have a serious buyer and you have avoided an
emotional conflagration, you will come to an agreement. What is said during
negotiations is often less important than how it is said. What is not said can
be critical. STEP 8 -
REMOVAL OF CONTINGENCIES: Although you can hit a bump or two at this stage,
they normally are not fatal. Possible problems that can surface very late in the
game are a low appraisal or lack of loan approval. While these are serious
problems indeed, especially in the week or two before settlement, they can
usually be resolved with the help of experienced realtors. STEP 9 -
FINAL INSPECTION AND SETTLEMENT: When you get to the settlement table, the
only issue remaining is usually the result of the buyer's final inspection. Any
findings are customarily minor. At this point significant problems are
unthinkable, so relax and keep signing. So there you have it. There's no excuse for not selling your home. You and your realtor should be able to pinpoint and resolve any problem. Save time and fix the problem today.
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