5 Tips For Sellers That Can Make Or Break Your Sale
This Article On 5 Tips For Sellers that Can Make Or Break Your Sale Was Written By Illinois Realtor Julie Hayward
1. Take Your First Buyer Seriously
Step 1 On 5 Tips For Sellers That Can Make Or Break Your Sale
Ninety percent of the time, the first home buyers is the best home buyer. Real estate agents everywhere will tell you the same. The buyer who makes the first offer is highly motivated and ready to do business, That is why they are quick to the plate. The first offer might be lower than you’d like, but consider it a starting point and then move on to negotiations.
You can hold off in hopes of better offers, but you may risk sitting on the market too long and the property will grow stale because you didn’t work with the first offer. Three months later, the seller will end up taking 5 percent less than the first offer they received. By this time, that first buyer has already bought the next house on the list because they were determined to buy a house and the seller is left kicking themselves.
2. Don’t Offer A Credit At Closing, Instead Of Doing Repairs
Step 2 On 5 Tips For Sellers That Can Make Or Break Your Sale
Does the back deck need refinishing? Do you have a faucet that leaks or a cracked window? Invest the time and money needed to make your home as move-in ready as possible before putting it on the market.
The average buyer doesn’t really want to deal with repairs after they close. When they discover faults, they will want a discount from the purchase price, or credits. These amounts are often way above what it would cost to fix or they will request white glove service, costing you more. If you do the repairs beforehand, you control the money spent on repairs and the price. You will also spend less time going back and forth in how much the repairs are going to cost and if the repairs you propose are up to the buyer’s standards. Thus, the property will sell faster, you will put more money in your pocket, and save yourself the hassle.
The $500 or so you invest in a plumber or electrician before you put the home on the market could save $5,000 in a lower offer, requests for credits at closing, or running around getting multiple bids for projects in order to find a “fair price”.
3. Don’t Make Highly Personal Changes To Your Home
Step 3 On 5 Tips For Sellers That Can Make Or Break Your Sale
Recently, a seller in Chicago painted her bathroom red so her house would stand out. It stood out so much that buyers that didn’t like the color and passed on the house. Think carefully about changes you make to differentiate or improve the home. Changes should be neutral in color and style so it goes with any buyer’s décor. Most buyers add their own personal touches to the home after they close anyway. Trying to accomplish this for them is a losing battle. Trying to convince a buyer they like blue when they really like red is like doing a Jedi mind trick.
4. Don’t Overprice Your Home
Step 4 On 5 Tips For Sellers That Can Make Or Break Your Sale
When you price your home too high, you’re not fooling anyone. Buyers that have done their research, know the comps in your neighborhood. If they don’t, their agent does. If your asking price is too high, your home may not sell as quick. The longer it sits on the market the more stigmatized it becomes. Buyers start to think something may be wrong with it since it’s been sitting on the market for so long and move on. You may end up reducing the price multiple times to generate interest. If you price the home right from the beginning, the final sale price will be higher than if you’d priced it too high from the beginning and you will sell faster. You’ll also have saved yourself months of frustration, mortgage payments, and property taxes.
5. Don’t Make Your Home Difficult To Show
Step 5 On 5 Tips For Sellers That Can Make Or Break Your Sale
Ninety percent of buyers are shopping online. If your home is priced right and the online pictures are good, chances are you could get showing requests within hours of listing the property.
A serious seller must be flexible and make the home easy to show to potential buyers. This means accommodating the showing requests, agreeing to broker tours, open houses, and schedule interruptions. If it is difficult for the buyer to make an appointment or showing times are narrow, they may give up easily and move on. This also can send the message you aren’t serious about selling.
Once listing the home, you should plan to show within 24 hours if requested. If you have young children or pets, work from home, are going on vacation, or any other restriction that may make showing a challenge, plan specific showing times so buyers know to request the best times.
About The Author: Julie Hayward
Julie Hayward is one of the top realtors in the state of Illinois and is the realtor of choice for many mortgage companies. The Gustan Cho Team at The Money Store uses the services of Julie Hayward and her associates for all of their pre-approved home buyers in the Chicagoland area. Julie Hayward’s husband, Chad M. Hayward, is a prominent real estate and bankruptcy attorney and most top mortgage professionals in Chicago and surrounding suburbs choose Julie Hayward as their real estate agent of choice and the Law Offices of Chad M. Hayward as their real estate attorney of choice. Julie Hayward is available 7 days a week and can be reached at 312-504-9228.