When I purchased my first home over 15 years ago, the market was very different. I sold it 10 years ago and made a handsome profit from a 75% mark up. The house was in New York in an ‘better’ suburban neighborhood. Needless to say this was a very different real estate climate than what we are facing today. Can you sell your home in this market? Absolutely. Will it be as easy as it was for me 10 years ago? Probably not. However, using these strategies can drive your home to the top of the “to be considered” list of buyers.
First, understand what you are up against. This is a market overloaded with foreclosures, shortsales, and new homes that make house shopping now very similar to walking through the bargain basement of a department store. So what makes a buyer pick one dress over another, simply the fit, the look and the price. Today’s home buyers are looking for all three of these hit factors and there are plenty of homes to choose from so your job is to leap off the rack right into their hand.
Spruce it Up
Supplies: Elbow grease, DIY material, Trustworthy Professionals
Curb appeal draws them in. Clear the yard of weeds, bugs, and make sure you have fresh mulch and flowers to accent the yard. Check your door knob. If it is not top notch, change it. Make sure your front light is not dated, rusty or dirty. Make it shine. Avoid putting yard decorations in the yards (front or back). These items are to taste and you want buyers to envision their personal touch in these spaces instead of being distracted by your personal touch.
In New York, it is not uncommon to find a home built in the 1950’s with a $500,000 price tag on it. My home had the original plaster walls and custom cabinetry and we decided to maintain the integrity of its time period by replastering where needed and updating bathrooms as well as adding additional features.
Find your Charm and Work it
Supplies: Computer
Empty the house of personal photos, doo dads and other visual clutter. Clear counters of personal items. A simple floral arrangement can be more appealing than your used lotion bottles, blender and salt and pepper set. Please remove all refrigerator notes and cute magnets from the fridge. Clean and clear is better than clutter. If your furniture is outdated and oversized making the rooms look small, consider renting furniture from a rental center to stage your house. This is a small investment well worth the return.
Web It
Supplies: Yahoo website builder
Establish a website for your property featuring details accenting your home. Add contact information directing buyers to your realtor or to you if you are doing a FSBO. Take your photos with a good digital camera. Fuzzy distorted photos are an immediate turn off. You only have a few seconds and clicks of the mouse to catch their eye. Make sure your photos are professional and flattering. Remember, you are selling your home, not your stuff so avoid zooming in on personal items.
Advertise It
Supplies: Computer or Yellow Book
Find your local papers and real estate books. If you are working with a realtor, they may suggest this to you. The internet is your biggest means of advertisement. Try Craig List and other websites that offer advertisement for real estate. They are often frequented by shoppers. They can give your property the visibility it needs to reach a buyer.
Consider financing options for your buyer such as owner financing if this is feasible for you. Options like this can make your property stand out from the traditional sale homes.
Be positive, assertive and remember to relay all of your finance options to your realtor so they may properly market your property. After you have done all of the above, be patient because the offer you have been looking for is bound to come knocking on your freshly painted front door.