Home Selling Tips
What Homesellers Don't Know Can Hurt Them
Why Using a Real Estate Agent is a Necessity
Preparing your home for sale, figuring the sale price, finding a qualified buyer, negotiating, closing and finally, moving. These are just some of the chores that will get your head spinning when selling your home. In today's market, using a real estate agent is almost a necessity, and getting a licensed agent into the process early is the first step to a smooth transaction.
Marketing
Homesellers need the know-how of an experienced real estate agent to get the job done right, according to Marlene Ginsberg, a Sales Associate from Coldwell Banker Residential Brokerage Parsippany (N.J.). "It's the real estate agent's job to know the neighborhood, school system and other features that affect the value of a home," said Marlene. "We use this knowledge to help homeowners figure out the best price for their home and what type of buyers to attract."
Setting the sales price can be a real balancing act and is not always easy. If the price is too low, you can lose money; if it's too high, it can take too long to sell. An experienced real estate agent can help you balance all of these factors, including neighboring property values, improvements you've made, the current housing market and how soon you need to seal the deal.
As important as setting the right price for your home is the development of a customized marketing plan. The marketing plan is what really sets a real estate agent apart from discount brokers and "for sale by owners," and is designed to bring a multitude of potential buyers to your doorstep.
"The marketing plan shows the real value of using a full-service real estate agent," Marlene explains, "Homesellers who try to do the job on their own don-t have as many options. For instance, they can't list the property with the Multiple Listing Service, in which the listing is shared with other real estate agents. Plus, after being in this business for a while, real estate agents become good matchmakers in connecting the right home with the right buyer."
Some of the marketing tools savvy real estate agents use are newspaper ads, Open House events and, of course, Web site listings.
The Sales Contract
Finding a buyer is only the first part of a real estate agent's job, according to Dan Parker, Principal Broker at Coldwell Banker / Kennon, Parker, Duncan & Key in Columbus, Georgia. Negotiation, from agreeing on a final price to writing the sales contract, is the next step. The details of the contract are very important, and if not handled properly, can put the seller back to square one, costing time and money.
"It's very important that the seller is protected by the sales contract," said Dan. "The buyer can back out of a contract, or even worse, sue the seller if the contract isn't prepared properly. And, extenuating circumstances - such as the buyer needing to sell their existing home first - can further complicate the contract process."
Sizing Up The Buyer
An experienced real estate agent can also help you size up a potential buyer to make sure they are able to go through with the sale. An experienced real estate agent may consider mortgage pre-approval, past experience and the background of the buyer to help you decide if an offer is solid. This will save you time and may possibly avoid having to start over in the sales process.
"The last thing you need is a buyer who backs out of the deal before closing," said Randy Freed, Broker Associate from Coldwell Banker Residential Brokerage, Santa Barbara and Santa Ynez Valley (Calif.). "Consider the amount of the buyer's down payment, the amount they need to borrow and their ability to qualify for a mortgage. Finding a good buyer is as important as getting the right price for your home."
Less Headaches
"Selling a home can be an emotional experience and working with a real estate agent can reduce some of the stress, save valuable time and give you peace of mind that the agent is taking care of the details," said Randy. "Homesellers can also take advantage of the Coldwell Banker Concierge® program to get help in finding vendors and scheduling home services."
Home Sweet Home Improvement
Coldwell Banker® Offers Tips to Upgrade Your Home for Potentially Increased Property Value
A home is arguably one of the largest financial investments a person will make in their lifetime. While property values over time are determined by national variables, the economy and local market conditions, the care and upkeep of a property is also a crucial element toward achieving a solid re-sell. Whether you are planning on adding more rooms to create extra space, upgrading your kitchen with new appliances or are thinking of putting your home on the market, Coldwell Banker Real Estate Corporation offers some essential home improvement tips that might increase the value of your home.
Kitchen Makeover:
Out of all the rooms in the house, the kitchen is the most popular to remodel. According to Remodeling Magazine, money spent to upgrade a kitchen produces the highest return on investment. "Hot" kitchen makeover trends include adding dual sinks, cooking stations, extra-long dishwashers, under-cabinet lighting, warming ovens and wine coolers.
Bathroom Fixer-Upper:
Upgrading a bathroom is also a sound choice and will usually provide a significant return on investment. Large bathrooms are typically on the top of the list of priorities for those seeking to purchase a home. Adding skylights, glass block windows, ceiling fans and sunken whirlpool baths are also attractive selling features. If you don't have the room to expand or to accommodate larger appliances, or you don't think you'll be living in your home long enough to enjoy the changes and/or see a return on this kind of investment, stick with neutral, mid-builder level updated cabinetry, refreshed flooring and shower/tub, or a new sink and toilet.
Room to Grow:
Adding a room or two, such as a spare bedroom or a study, is a significant home improvement that you will be able to take advantage of every day. In addition to the much-needed extra space, it can also potentially provide you with a good return on your investment when it comes to selling the property.
Landscaping the Lot:
A professionally landscaped yard can certainly increase the "curb appeal" or desirability of a home. In fact, beautifying your lawn can be one of the most inexpensive home improvements. Additional simple landscaping projects include trimming and edging the grass, manicuring the trees and shrubs to open up the view of the house, removing any dead plants and planting flowers to brighten up the yard.
Repair Jobs:
While many homeowners may want to update and remodel their kitchen, if the roof needs fixing or the chimney has to be reappointed, then they should prioritize these necessary repairs over any cosmetic changes. This applies to both sellers and those who plan to stay in the home for years to come, as these essential repairs must be taken care of before they cause the house to lose value. It is vital to look after the minor problems such as a leaky faucet or a loose cabinet to ensure that your house doesn't undergo any long-term damage. As soon as you notice a problem, fix it since this will help avoid a larger expense later on.
Cosmetic Touch-Ups:
A paint job, new double-paned windows and new carpeting will increase the price of a house virtually dollar-for-dollar. Neutral colored paint and eliminating clutter can make a world of difference. However, don't go overboard with home improvement projects that will push a house too much above the current average value of homes in your neighborhood. It is important to make sure that your home has standards that are in-line with the other houses in the neighborhood, but you do not want to price yourself out of the market.
Home Improvement Professionals For Hire:
Whether you need an architect, gardener, interior designer or contractor, it is always important to do a background check prior to hiring a professional. Get references from family or friends and interview them - checking is critical. The most important quality to look for is trust, not initial price. The Coldwell Banker Concierge® Service Program offers homeowners referrals to local home improvement professionals.
Funding Options:
Coldwell Banker Mortgage recommends a number of options for homeowners looking to upgrade their homes, including a cash-out refinance, a home equity line of credit or a second mortgage. Homeowners can contact Coldwell Banker Mortgage for current interest rates and mortgage prices, repayment options, and for professional mortgage advice.
This has been provided for informational purposes only. The views and opinions set forth here are not necessarily the views and opinions of Coldwell Banker Real Estate Corporation. You should always consult with your own advisor when dealing with any of the issues visited herin.
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