Can’t I go online to determine my home’s market value?
As much as I appreciate and enjoy technology, websites such as Zillow and Trulia nearly always grossly over-estimate the market value of a property. Those websites use basic data algorithms such as square footage and number of bedrooms and baths, but algorithms cannot gauge other important factors that affect values, such as:
- Kitchen and bathroom upgrades
- Quality of windows, doors, and floors
- Roof age
- Lot features
- Neighborhood desirability
- Style of home
Over-pricing your home by a considerable amount has several damaging effects. One of those is turning away potential buyers before they’ve even had a chance to view the interior. We can’t get offers if no one is looking! In addition, the longer your home stays on the market, the more potential buyers believe something “must be wrong” with the home.
How long does a sale typically take?
Even in a sellers’ market, there are a number of factors that affect how quickly your home sells. For example, some neighborhoods are hotter than others. Even a house in good condition will be more difficult to sell if the occupied home is cluttered, dated, or (just being blunt!) dirty. A home with deferred maintenance (aka a distressed home or a fixer) will only appeal to investors (house flippers) or experienced do-it-yourselfers. They’re also harder to finance and may require a cash-only buyer, which narrows the pool of buyers and drives down the market value of the property. To ensure a timely sale of your property when you need to sell, be sure to consistently maintain it. Check out my tips on how to get your home ready for a sale before it hits the market.
Do I need a For Sale sign on my house?
If you’re concerned about security, we can leave this off. However, buyers often drive neighborhoods they’re interested in, then contact their broker for more information if they like the look of your home. (Another good reason to keep the landscaping and exterior of your home in top condition!)
Is an open house necessary?
This is optional. If you’d like one, we go the extra mile to put on a spectacular Open House Extravaganza! Your home’s signage will include:
- Text Tours, so techies can check out your home via mobile
- 50-100 open house signs leading up to and throughout the neighborhood are posted (most firms offer only up to 10)
- Special financing signage shows renters the value of buying vs renting (in cooperation with our partner, Premier Mortgage Resources)
- Plus we walk the neighborhood to invite the neighbors to visit (sometimes the neighbors have a friend or family member who wants to move into your neighborhood).
How should I respond to low-ball offers?
The best thing to do is try not to take it personally. Instead, look at this as a business decision only. Respond with a counter-offer. Some buyers are simply testing the waters to try to get a “good deal,” but truly are interested in your home. Exercising patience while negotiating is very important.
What does my 1% commission pay for?
As an independent contractor, I’m paid by commission only after a sale is completed. Therefore, I really do want to sell your home for the highest price in the least amount of time. I retain only a portion of the 1% commission I earn, however. I split my commission with my brokerage, pay for professional photography, open house marketing, sign installation service, flyers, directional signage, replacement directional signage that gets stolen, MLS dues, monthly lockbox fees, insurance, continuing education class fees (required to keep my license), gas, technology, auto maintenance, general marketing costs (it’s how I get the word out to you about 1% listing commission!), and of course I’m fully responsible for self-employment tax. Plus sick and vacation leave time is entirely on me.
I can’t wait. I need to sell my house for cash now! Can you help me?
Yes! As a member of the Real Estate Investors Association of Washington and Mavelon.com, I have access to many investors ready to buy your home NOW in cash. Contact me today. Often, a property can be purchased in a matter of days, not weeks.