1. Of primary importance is to clearly identify your motivations for selling. What is the outcome you are trying to achieve and what happens if you don't sell? Generally speaking it is great time to sell and move up since the relative percentage price drop in the more expensive home translates into a net gain, even though your house would have to sell for less as well. For example, a 10% drop in value of a $2,000,000 home in Huntington Harbor you might be buying means a $200,000 savings, while a 10% drop in a $700,000 home you might be selling in another Huntington Beach neighborhood is a $70,000 loss. This translates into a $130,000 net gain for the move up buyer. You can see what is happening with regard to home prices in Huntington Beach and other Orange County at http://www.sellinghuntingtonbeach.com/.
If you've been transferred out of state or can no longer afford your house payments, you very well may have to sell. Still there are options to consider before taking that big step of putting your home on the market. Whatever your motivations, make sure you really have to sell. Remember that it may take another 2-3 years of market change and adjustment before you will get more for your home than you could right now.
2. Identify an experienced agent to handle your sale who will honestly help you assess your motivations and options. A real expert and professional will help you determine if selling your home in this market is the right thing to do.
3. Once you have chosen a professional Realtor and determined that you want and need to sell, make an honest assessment of the condition of your home. Is it in showable and saleable condition? If not what needs to be done to make it so? In this market we are basically in a price war and a beauty contest at the same time. This is the second most important factor in if your house will sell, and how long it will take. You can learn more about getting your home ready at http://www.sellinghuntingtonbeach.com/.
4. If you are a veteran of multiple home sale transactions you will have a pretty good idea of how the process works. If it has been a long time since you last bought or sold a house, have your realtor review the process with you in detail. Make sure your expectations and the reality of the process are consistent with each other.
5. Allow your agent to structure his marketing plan to attract all the potential buyers for your home. A key component is the sales commission. Don't be afraid to pay a competitive commission, especially if you are working with an experienced realtor who possesses strong negotiating skills. Understand that the commission you pay, which is typically split between the listing and cooperating brokers, is really an opportunity cost of the sale.
The average agent bringing you a buyer sells 2-4 homes per year. It is only human nature that a high percentage of agents will be looking at the cooperating commission when they are selecting homes to show their clients. If there are 12 homes to show that meet their client's criteria, and 7 are listed with a 6-7% commission that offers them a 3-4% split with the others being 5% or less, which ones might they choose to show first? If their client buys one of those 7 homes, those listed at a lower commission were never even shown. Offering a discounted commission will translate into less qualified buyers seeing your home.
On the other hand, offering a competitive commission will motivate more agents and buyers to see your home. and will most often translate into the best sales price the market will offer. This means more $'s in your pocket. Hence the commission can be called an "opportunity cost of the sale".
6 Be committed to keeping your home in saleable and showable condition at all times. Do the dishes and pick up clothes, toys, and clutter everyday. Begin to think of your home as belonging to someone else. Unclutter mantles, dressers, cabinets, etc by displaying only one or two items instead of the 5, 6, or more that most of us have in our homes. While you are removing the clutter also work to depersonalize your home. Pack away the extra items and family pictures that you will most likely be putting right back up in your new home. You can learn more about staging your home at http://www.sellinghuntingtonbeach.com/.
7. The most important thing you need to be willing to do is price your home competitively on an on going basis. In a declining or flat market, the nicest homes at the best price are the ones that are selling. When that next qualified buyer comes along you want them to pick your home and price will be the number one factor. You can't change your location, but price and condition are things you can affect. Look with your realtor at recent comparable sales and how your competition is positioned, and price accordingly. Be prepared to re-evaluate your pricing every 4 weeks and amend your position to reflect the market. Search for homes and current prices in your Huntington Beach or neighboring Orange County neighborhood at http://www.sellinghuntingtonbeach.com/.
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