PART 5 ~SPRING INTO ACTION ~ MAKING THE PLAN

This is number 5 of a 7 part series. 

In previous installments we listed some of the factors that negatively impact a home sale.  The single most influential aspect is pricing.

We looked inside and out for obvious flaws.  Next we stood back and made a realistic assessment of what needed to be accomplished. We focused on the mechanical and maintenance in the last installment.

PART 1 -INTRODUCTION

PART 2 ~ MAKE LIKE A DETECTIVE

PART 3 ~ THE VIEW FROM AFAR

PART 4 ~ NO DUCT TAPE PLEASE

In this article we are going to take all of the information you collected and decide on an action plan. 

Why do some homes sell and others languish on the market?  It's not a lottery system.

In the previous articles we have identified the critical factors you should consider.  Only you can make the commitment to prepare your home. 

You are putting the components into the gift box.  The box is carefully wrapped in beautiful paper and topped off with a big colorful bow. 

Your Realtor takes your finished package and orchestrates a plan to show it off so buyers can find it and fall in love.

NOW WRITE AN ACTION PLAN 

Get out your note pad and start 4 lists. 

On one list note the items that are easy to remedy with a minimum of investment.

GFI outlets, leaking faucets, bold paint, carpet cleaning, caulking and power washing, painting trim are samples of the repairs for this list.

The second list will be those items that will require an investment on your part.  How much of an investment?  That is up to you. 

For the time being just list them and put an estimated cost next to each item. 

Repairs such as replacing bath fixtures, mulching, adding exterior accents, water remediation, addressing asbestos, replacing ceiling tiles are just some of the items you might list here.

The third list is the major repair list.  Roof replacement, replacing windows, heating and air conditioning systems, or flooring is an example of major repairs.  List the items and assign an estimated repair cost.

Review the items you identified on the second and third lists.  Color code each repair item with either a green or red X.  The green X is used for those items you intend to replace or repair.  The red X is an indication that you do not wish to undertake the repair at this time.

The final list number 4  are the issues you will reivew with your agent. 

Include the fixed factors you cannot change but negatively impact your home.  Location that is less than desirable, homes in neighborhood detracting from your home, subdivision with numerous foreclosures, flood zone or planned road construction might impact your home.

Add to the list the balance of the items you identified with a red X .

Be upfront with any agent you interview.  Let them know where the negatives are.  Many times an agent will be able to help you prioritize your repairs. 

If you are not able to accomplish everything due to financial constraints your agent might offer suggestions for work arounds.  A roof replacement could be offset with a price or allowance consideration.

NOW SPRING INTO ACTION

Dust off your tools and paint rollers. 

Formulate your plan and time table for accomplishing the repairs you have identified. 

Even while you are in the process of working on your to do list, you can begin to interview Realtors.

It's important to reiterate that a well priced home in good condition statistically will sell faster.  If there are obvious defects buyers will use them to negotiate a lower price.

Addressing repairs before they are uncovered by a home inspection will also save you money.  Typically buyers over estimate the cost of repairs and ask you for deeper price concessions,

Buyers have a vast array of homes on the market to choose from.  Eliminating the negatives and detraction will help you be competitive.

 We invite you to come back and follow up with the last two installments of this series.

Part Six ~ Plan a Staging Party

Part Seven ~ Who is the Best Realtor

If you have any questions I'd be delighted to answer them.  My area of practice is North East Pennsylvania.  Through my Active Rain community I have relationships with thousands of active and successful Realtors all over the country.  Some may work in your home town.  My fellow Realtors who are members of Active Rain are committed and willing to help you turn your home into a successful sale.

_________________________________________________