How to Sell a House
Selling a house has become a lot easier for many people across the US. The map to the right is provided by FHFA, who oversees FANNIE MAE and FREDDIE MAC. They put out a quarterly report on the appreciation of houses purchased with loans that they back. That is the vast majority of all single family homes in the US.
We have sold high end homes in down markets in a matter of days, at full asking price, while other homes sit on the market for months.
This has taught us, while the market can change quickly, the fundamentals of selling a house remain the same and critical to getting your house sold.
1. Curb appeal is important. You only get one chance to make a first impression. When people drive up to your home, you want them to see a house that looks great from the street. That means a well trimmed front yard, getting rid of any weeds, a clean drive way, clean windows and if needed fresh paint on the outside. The front door should be clean and in great condition, right down to making sure it does not squeak when opened.
2. Staging your home. Make your home look as desirable as possible to a wide range of people.
Often that means removing some furniture so the features and size of the rooms are highlighted. It also means taking most of your family photos and memories down and storing them for when you move. You want potential buyers to easily visualize their things in your house. An important, and occasionally overlooked part of staging is the smell of your home. We use medical grade essential oils diffused throughout the home to make it smell great and make the people viewing your home feel great. It's good for you too.
Staging may include fresh interior paint, new flooring, updating door hardware and fixtures and more. Fxing all the little things help make the best impression possible. That helps buyers feel more comfortable that you take care of your home and it has been well maintained. Above all - be honest. If you know something is wrong let the buyer's know too. If you don't they could take you to court and will propably win.
3. Get pest and home inspections. Almost every buyer will do a pest and home inspection as part of their due dilligence in buying your home. Doing your own homes inspections eliminates surprises and costly re-negotiations of repair costs. By knowing what's wrong in advance you can decide whether you want to make repairs to make your house shine with repsect to all others for sale, or if that's not an option, to price your house lower to reflect repair expenses the buyer will incur.
4. Price your home for the market. A good Realtor can provide you with market information to help you decide the right price for your home. While that means you will pay a commission, real estate sales statistics indicate homes sold by owners net less money than those sold with a Realtor. The importance of pricing your house to sell cannot be overstated. If it is too high, it will simply be used to sell your neighbor's house down the street. And if it's priced too low, you will be leaving money on the table.
5. Tell People your House is for Sale. Put a sign in the yard, tell your friends and neighbors, advertise on the internet where 90% of buyers start their home buying process. A good Realtor has a good marketing plan that will help you get your house sold. Be sure to ask them how they market homes and what they will do to get your house sold.
6. Be reasonable when offers are received. Selling your house is like a business deal. The buyer's want a good deal and so do you. The negotiation is not personal, although it can feel that way at times. This is another area where a good Realtor can help with you sell your home.
7. Be accomodating and responsive during escrow. No house is ever sold until all the paperwork is done. Buyer's will do inspections, appraisers will come to take pictures and measurements, Realtors will ask for signatures on a bunch of documents and title will have you sign a stack of papers. While this is not fun, it is important to get your house sold.
That's it - this is a proven and time tested recipe for How to Sell Your Home. We wish you the best of luck!
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