Tips
for a successful sale
Price
it right: With the right price, you should
get multiple offers early in the process. Hopefully,
your would-be buyers will bid the price up.
Don't
quibble over pennies: Don't worry about
squeezing an extra $5,000 out of your potential buyer.
Sometimes it's better to focus on getting the deal done
without any extra hassles. Tell buyers you'll cut them
a deal if they agree to buy the house "as is" and will
sign a contract that isn't full of contingencies.
The
early bird catches the worm: If you price
your home well enough for an early bid, you're more likely
to get competing offers and maximize the final selling
price.
Before
you sell, get a new loan approved: Figure
out how to pay for your next home before putting this
one on the market. Use worst-case-scenario projections
when factoring in the proceeds from your current house.
Employ
a little elbow grease: Baking cookies is
a well-known trick for making potential buyers feel at
home. But don't stop there. Make sure your home is spotless
and consider using a stager.
If
you go it alone, prepare to work hard: Brokers
exist because selling a house is a full-time job. They
take care of the marketing campaign; they help you prepare
for open houses; they have connections with other brokers
who represent buyers. Do some research, and make sure "for
sale by owner" is the right move for you.
Have
a 21st-century marketing campaign: Find
a broker who is good with a digital camera. If you don't
have a great set of pictures, buyers will think that
means you don't have a great house. But don't neglect
the traditional advertising channels. Though the Internet
might be great for young professionals, there are a few
people who still read the newspaper.
Time
your sale to bonus season: In New York,
traders and investment bankers get massive bonuses around
Christmas. They start looking for properties in November
and December, but January is when activity really picks
up, especially for high-end properties. If you live outside
New York, check with your broker to see if any similar
periods exist. Extra foot traffic at the open house is
always a good thing.
Understand
your market: It doesn't matter what your
neighbor got a year ago when he sold his condo. And it
doesn't matter what your friend across town received
last week. Prices and market conditions vary depending
on the time, location and condition of your home.
Do
your research: Talk to several brokers before
putting out a "for sale" sign. They will educate you
about the market and give you a potential asking price.
They may also suggest you put in a few thousand dollars
worth of improvements. If you put your house on the market
before you're ready, you'll only alienate prospective
buyers. |
