Real Estate 101: How To Sale Your House Quickly and Get the Highest Price for Your House, Part II

Real Estate 101: How To Sale Your House Quickly and Get the Highest Price for Your House, Part II

If someone were to take a survey of home sellers, I am sure that two of their chief concerns would be "how to get the highest price for my house" and "how to sell my house quickly." After being in real estate in Southern California for over 33 years, I have seen many home sellers and home buyers grapple with these issues. Continuing from Part I: How to Get the Highest Price for My Home, in Part II of this article below, I'd like to share some of my thoughts on how to sell your home in the fastest possible time.

HOW TO SELL YOUR HOUSE QUICKLY

Pride of Ownership

The most important quality that buyers look for in a potential home is "pride of ownership." When there is pride of ownership virtually all buyers recognize it's value, and most buyers will pay for it. When selling your home, be certain it reflects value for its asking price. Buyers will often pay full price for such a home, and may even compete to buy it!

Pride of ownership is most easily displayed to buyers (and agents) through the condition of the house and the information about the house that the seller is willing and able to share with potential buyers. When both of these elements combine then you, the seller, are prepared for a quick sale.

If you plan to sell your home, take time to do your homework first. Before the first buyer ever sees your home, it is critical that you carry out two tasks that could result in an immediate sale at full price.

Maintain Your Home in Model Condition

If your home is in need of repair or maintenance, put your home in model home condition. Ask your agent to help compile a list of improvements which will excite prospective buyers - and real estate agents. To achieve an early sale, everything on the list should be completed before your first showing. I repeat - don't allow your home to be shown until all improvements have been completed!

Why is this so important? Once your home is on the market, the first people to see it are likely to be other real estate agents. An "agent open house" or "office tour" is one method your agent may employ to gain exposure for the property.

If other agents see unsightly carpet, or sense that pride of ownership is absent, they may never return with their buyers. Once that happens, you will have lost one of the best sources of ready buyers.

The more obvious impact of offering a spotless home in model home condition is the effect it will have on families who see it. They want to buy a beautiful home, so be sure that's what you have to offer.

Most homebuyers would agree that a home which sparkles with pride of ownership is considered a real prize, while one which shows evidence of abuse is to be avoided at any cost. In fact, buyers often compete to purchase homes which offer top condition and real value in exchange for their asking price.

Is there a message in all this for those planning to sell their home? You bet there is! Don't take shortcuts when selling your home. Don't try to gloss over minor defects, nor ignore major ones. Today's homebuyers are sophisticated, and quickly recognize poor quality.

Imagine you are the buyer and you are considering a particular home which caught your eye. It seems to offer everything you wanted. Upon closer inspection, however, you notice a collection of drain cleaners, solvents, and clog removers under the kitchen sink.

What if the furnace pilot light is kept company by several dozen burnt stick matches. What if the air conditioning filter hasn't been replaced in five seasons and looks the part? Would you suspect problems?

If there is a water spot on the ceiling of the downstairs bathroom, would you buy the home without checking the floor of the upstairs bath just above it? If in doubt about the structural integrity of the home, would you be likely to continue your search elsewhere? The slightest visible defect can raise a red flag, causing the buyer to reject your house in favor of another. Offer your home in first-class condition and buyers will pay your price!

Just the Facts

Home buyers often make their purchase decisions in one of two ways: 1) based on emotion, or 2) based on fact. Either way, if you are the seller, you can help them make their decision.

Some buyers have a clear picture in their mind's eye of the perfect home. They can almost see it, touch it, and feel what it would be like to live there. They are likely to make a fast decision to buy, the moment they set foot in that "perfect" home. If your house is in model condition, this will clearly help those buyers to make a purchase decision.

Today, many homebuyers are much more sophisticated than just ten years ago. They make purchase decisions based solely on cold hard facts, not conjecture. These buyers often seem difficult to satisfy because they ask so many questions. Not so. Satisfy their need for accurate information, and they will also act with reasonable speed.

For those buyers who want the facts, the best defense is a good offense. Be prepared to answer their questions, backing up your answers with proof. You can have a dramatic effect on how quickly your home sells, by the information you provide.

Once you've chosen an agent to represent you, ask what information should be provided to buyers. The agent should be able to provide a "laundry list" of questions asked most often. Once you know what information is needed, get started right away. Don't wait until a prospect starts asking questions.

Much of the information you will need is related to the construction of the house, and the performance of its systems. Who built your home? What year was it built? How much insulation is in the ceilings? What about the walls? How old is the roof?

How much are your monthly power bills, i.e. heating and air conditioning, appliances, etc. Various other costs will be important too, like property taxes, utility bills, recent repairs, or special assessments.

You may need to dig through family records and paid bills to come up with some of the information, while the original builder can provide construction details. If you have a floor plan or blueprint of the home, make copies available.

If major building components have been replaced or repaired, have the work tickets handy for easy explanation. If you have photos of your home during other seasons of the year, make them available. Buyers will be interested, and competing property owners aren't likely to even think of it.

Sound like a lot of questions? If you plan to sell your home, you're going to need answers, lots of them. Remember, you can be a valuable resource. While it is the agent's responsibility to attract prospects, it is you who can create the atmosphere to improve the likelihood of an early sale.

Create a chart, or a graph, which shows a complete accounting of your utility bills for the past year (or two). Also include the general information about the construction of the house, property taxes, renovations, insulation etc. Next, back up this information by offering to show buyers the actual monthly bills for electric, water, gas, etc. Offer the facts first, backed up by the proof.

Remember, through your pride of ownership you will help to grab the buyer's attention. With your house is model condition and with your willingness to share facts about the house, buyers will to be satisfied and ready to pay your price quickly.

Bob Newsom, Real Estate Broker Southern California, trained real estate agents, developer of hotels, condominiums, homes, founder on-line real estate http://www.MLSprintouts.com and http://www.HomeSearches.com. Bob can be reached Bob@HomeSearches.com

Related Articles:

Mortgage Cycling May Be Your Best Bet For Equity Buildup and Investment Real Estate
Mortgage cycling is a system that relies on solid budgeting, equity lines of credit and use of an open credit card. Whether you use this on investment real estate or your own home, it can work for wealth building.

Newer Golf Technology
Golf Technology is a wonderful thing It has out heroes form yesterday like Jack Nicklaus and Tom Watson to stay competitive longer than they would have been able to otherwise

Time to Change Your Real Estate Strategy
How many times have you seen an article announcing the real estate bubble has burst? While admittedly almost 2 of every 3 homeowners in the United States has been lost home equity there are still many opportunities to profit from the current real estate market. However, taking advantage of the market requires reassessing how we look at our home.

California Republic Bank Achieves New Milestone ? over $125 Million in Assets ? in Its First Six Full Months of Operations, and Announces Strong 2nd
California Republic Bank (CRB) (OTCBB:CRPB) announced strong results for quarter ended June 30, 2008.

8 Important Steps To Achieve The Perfect Golf Swing
To people who are new to the world of golf but, nevertheless, are intending to play the sport, one factor that they should focus on is the perfect golf swing. To mention some other factors, there are a lot such as, the golf equipments, the direction of the wind, the golf ball and the player himself, but still, the precision of the swing is the causal factor on the success or flop of playing golf.

American-Israel Chamber of Commerce and The Renaissance Communications Group Launch "Atlanta ROI*" to Attract Israeli Real Estate Investors to the Sou
The American-Israel Chamber of Commerce, Southeast Region (AICC) and The Renaissance Communications Group in October will launch "Atlanta ROI* -- Real Estate Opportunities and Investments," a publication and website (www.atlantaroi.com) to introduce Israeli institutional and entrepreneurial investors to the commercial real estate market in Atlanta and the Southeast. The magazine will support AICC's Real Estate initiative, a key objective of its new Strategic Plan, and will be delivered directly to more than 250 institutional and entrepreneurial investors in Israel.

Sovereign Nation Invites Film Production to Stay in California
The Soboba Movie Ranch, Located Just 85 Miles East of Los Angeles Makes It Easier and Less Expensive For Filmmakers to Keep Production In California.

Setting Goals for Real Estate Success
The power of goal setting has been well documented and communicated so before you skip over this point because you've heard it all before I'd like you to consider how well you are doing it. I'm a firm believer that you don't truly understand something until you are doing it.

Ways to Eliminate Stress in Moving to Miami Real Estate
Moving is one for the most stressful events that you can make in your life. It is a fact that, there is no such thing as stress-free move, but if you do all the right things, you can eliminate the stress.

Renaissance Orlando Hotel-Airport Completes Multi-Million Dollar Extreme Makeover Combining Contemporary Elegance with World Flair
Hotel receives Marriott International renovation award and green lodging certification from state of Florida; is first to introduce new ?Plug-In room? concept to Orlando market