SELLING
What's My Home Worth?
To help you during the selling process...
Step 1: Reason for Selling
It is often more emotional to sell than to buy a house, and the reason for selling your house may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property. It is important to take the following factors that can influence the sale of your home into consideration:
- Location
- Price
- Reason for selling
- Condition of property
- Size
- Design / Style
- Accessibility
Step 2: The Cost of Selling
It is very important to first calculate the expenses that may be incurred while selling your house. This knowledge is absolutely necessary because it helps you to determine a good price for it, as well as the potential profit that you can realize. The cost of selling may include things like:
- Commission to be paid to the agent
- Taxes
- Advertising costs
- Specific reports, such as a property inspection, termite report
Step 3: Price
The most important factor when placing your house on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal. Over-pricing of the property may result in:
- A smaller buyers' pool
- A prolonged stay on the market that will result in lower offers being submitted
Under-pricing of the property may result in:
- You losing money on your investment
- A buyer offering an even lower amount due to a negative perception of the property or area
Step 4: Location
Although you cannot do anything about the location of your property, it plays a very important part in the marketability of your home. So, it is important to take the following into consideration:
- Is your property priced in relation to other offers in your area?
- What type of neighborhood is your property located in - well-established, up-and-coming, or transitional?
- Is your property located in an urban or rural area?
Step 5: Condition of Your Property
The condition of your property is always a factor in how quickly it sells. It's a fact. Acquiring the highest market value and elevating your house above the others in the same price range often comes down to first impressions. Some experts say curb appeal is 25% of your home's value. Here are some inexpensive ways to maximize your home's curb appeal:
- Keep the grass cut and yard clutter to a minimum.
- Apply fresh paint to any wooden fences and your front door.
- Clean windows inside and out.
- Wash or paint your house's exterior.
- Ensure gutters and other exterior fashions are firmly attached.
Step 6: Staging
Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or, that opening drapes and blinds and turning on lights make a room seem bright and cheery? It's true, which is why staging your house to look its absolute best is an important factor in the selling process.
Here are some inexpensive ways to highlight your house's best features:
- Clean or paint walls and ceilings.
- Clean all flooring and fixtures - lights, fans.
- Repair all plumbing leaks.
- Remove excessive wall hangings, furniture and extra personal items.
- Turn on all lights and open the drapes during the daytime.
- Play quiet background music and infuse your home with a comforting scent.
- Vacate the property when it's being shown to prospective buyers.
Step 7: Accessibility
Accessibility is a major issue in many parts of the world. Again, you cannot do anything about your house's accessibility to specific things, but it does play a role in the price of your property. I will work with you to highlight the places of interest that are most accessible to your house. Here are a few important areas to think about:
- Public transportation
- Main roads
- Shopping centers
- Schools and other educational institutions
- Outdoor areas - public pools, parks, playgrounds
- Entertainment
Step 8: Strategic Marketing Plan
Together we can aesthetically prepare your house and device a strategic marketing plan to attract the right buyer. Presenting an attractive house will increase the number of potential buyers. The more buyers it attracts, the better the chances of selling for top dollar. In addition to creating a win-win scenario, which will expedite the sale of your house.
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