So you've decided the time is right to sell your home on Long Island. You know it's not a great market and the competition is fierce, but you're hoping to get the premium price your neighbor got when he sold two years ago. You find it hard to understand why you'll have a problem because you've updated your property whenever it needed it, and kept it in pristine condition. You did a major remodel of the kitchen and baths in 1983 and it was the talk of the neighborhood. Though your updates may have been state of the art back then, today's buyer looks at those rooms as money pits. The average price for a kitchen overhaul today is $50,000, with bathrooms often coming in at $15-$25,000.
You pick an agent to represent you based upon their promise to get you the most money in the shortest 
period of time with the least amount of inconvenience to you. Sounds good. They tell you how wonderful they are and how everyone knows them. You might even hear that your representative is number one in town. I'm often amazed at how many people profess to be numero uno. Doesn't anyone want to be Avis anymore? Remember, they're the guys who try harder, and believe me in this real estate market, at least here on Long Island, you have to try harder. You have to be more inventive and you have to think out of the box.
The old ways of marketing homes simply doesn't work these days. The old "sign in the ground, stick in on MLS and pray" simply doesn't cut it. With inventories growing like weeds in an untended garden, your home had better stand out from the pack to get noticed. Then it had better be priced right to attract offers from today's savvy Internet shoppers. Data travels at warp speed on the cyber highway and is transparent, as it should be, enabling consumers to educate themselves before embarking on this high dollar purchase. Take a step back and try to look at your place objectively. Is it a warm and inviting space? Is it uncluttered, with rooms clearly defined? Have you put away all the photos of the family that decorated your tables and walls? When a buyer comes into a house, they have to be able to see it as their own in order to put it on their short list.
If you're planning to hire an agent to market your home, ask them what they plan to do to get it sold. If you like what you hear, and feel comfortable enough with this person to sign on the dotted line, do yourself a favor. Assume they know more about this market than you do and listen to their advice. A very prominent and caring doctor once said, "everyone is a doctor, but find yourself a good plumber," suggesting that it's all too easy to get advice from everyone on the street about something they know little about.
And my best advice, aside from staging your home for sale, is to price it aggressively and make adjustments when needed, especially in a declining or unsettled market. If you wait too long to see if shoppers will nibble at your price, you wind up running after the market and that is tantamount to chasing a snowball down a hill. You can't win.
A final thought. Don't worry about pricing too low. If your home is perceived to be an unusually good value by the people who vote with their dollars, you'll get more than one offer, bringing the price up (often over list price), even in a lackluster market.
Good luck with taking the first step to the next phase of your life.
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About the author:
Geri Sonkin is a Licensed Broker Associate serving Long Island sellers and buyers for over 22 years. Areas of expertise include Nassau County, Suffolk County, Queens and Brooklyn. Specializing in resales, new construction, co-ops/condos, waterfront homes, estates, short sales and rentals. For more information: www.LongIslandsBestHomes.com For new construction: http://175Sherman.GreatCustomHome.com or http://2274Woodbine.GreatCustomHome.com 516-425-6098
All text and graphics contained herein Copyright © 2009 Geri Sonkin & its licensors. All rights reserved.
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