5 new rules for home sellers
Amanda Gengler, Money Magazine, has written an article for today's home sellers that is, in my opinion dead on. She recognizes that the current market requires sellers to be extra smart about pricing, presentation and incentives when selling their home. Here's my spin on her article.
1. Price it right or perish.
No amount of marketing will sell a house that is not competitively priced. In a slow market you must not only be competitive but you should price ahead of the market. Your amenities, location and size must be comparable and you need to be the best value in your price point. Do your homework!
2. Don't hire a newbie and don't do it yourself.
If you are considering hiring a professional hire a professional. Hire somone who has been active in a similar market and knows the ropes. Hire a seasoned veteran.
Slow markets do not lend themselves to FSBO'S. Buyers will often have unrealistic expectations and professional counseling from a qualified real estate professional is essential.
3. Preparation is paramount. Hire a stager.
A home stager will always save you money in less market time and will often make you money.
Ambience, furniture placement, new focal points, rooms with new purpose are a few of the tools in the home stager's arsenal. Utilize them. Incidentally, I provide FREE home staging to my clients.
4. Incentisize.
Today's buyers expect sellers to offer incentives. Incentives are buyer concessions such as seller paid buyer closing costs. Sellers can pay up to three percent (3%) of a buyers closing costs if the loan is a conventional loan and six percent (6%) if an FHA loan.
5. Consider your options.
If you recently purchased a home you may have zero or negative equity. If your move is mandated by your employer try to negotiate with them to make you whole. If you have savings you might make up the short fall. If you are unable to do that you might consider becoming a landlord or hiring a leasing company. As a last resort you might approach your lender about a short sale. Typically before your lender will consider a short sale you will need to be several payments in arrears and in danger of foreclosure. Call me if this is the case as you certainly need my assistance to wade through those waters.
Kensellshomes@aol.com
KenSellsHomes
http://www.greatertulsahomesales.com
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