Everyone knows that the market is down in home sales (yes, even here in Austin and the surrounding Hill Country). So what do you do if you are trying to sell a home in a down market? Here are a few tips for you sellers out there:
1. The First Impression: The rule is that the first impression is your only impression! Spruce it up to say “Welcome” as soon as they drive up. If that means, buying some new fresh bedding plants, flowers in pots by the front door, new mulch, spend the money if you want to get the money! This is no place to cut corners. I have had buyers tell me to drive away if the curb appeal is not there, they will not even get out of the car. There are just too many houses for sale for you to scrimp here.
2. Price it right! Get a current (notice I said current) CMA done by the agents you are interviewing to list your home. It doesn’t matter that in 2005 your home sold for more than the agents are telling you it is worth and it doesn’t matter what the tax appraiser’s office has your home valued at in this buyer’s market. If you really want it sold and sold fast, then you have to compete against the foreclosure market and that is a tough one. Best advice, find out what it’s worth, then shave another 15% off the price! This is the single best strategy out there according to analysts and experts. Some sellers argue that they need room to negotiate. Think of it this way, would you rather have more buyers and multiple offers to deal with or a higher asking price and no buyers or offers! In today’s market, this is your absolute best strategy for getting a home sold and sold quickly. Many times, this tip will not only bring you an offer but sometimes more than one!
3. De-Clutter, De-Personalize! You’ve seen staged homes. How do they do it? Do yourself a huge favor and go rent a storage place and take 1/3 to 1/2 of your stuff and put it there. And no, your garage is not a storage unit! Pack up the family memorabilia, photos, games, toys, Christmas decor, collections, personal keepsakes, etc. and move them to storage! After all, they are not staying with the house! And look at it this way, you are way ahead of the game when it comes time to move. And if you haven’t seen staged homes, have your agent make an appointment for you and your spouse (and I usually have them bring the kids along, too) to see a comparable home in your neighborhood that has been professionally stage. Selling your home is a shared family responsibility! You need every family member’s cooperation to make the experience go smoothly. Getting your whole family involved in the sale will pay off in the long run, and then, they will all know what to expect and most importantly, what is expected of them when your home is on the market.
4. Keep the house always ready to show! Yes, it is a pain….we have all been there…However, in this market, you can not afford to be willing to show at a moment’s notice. I can’t tell you how many potential sellers have lost possible buyers because they told agents that “today or this afternoon just wasn’t a good time to show and how about tomorrow?” There are simply too many houses to choose from and the agents will simply move on. Their buyers come first (remember, they are wanting to sell a house) and if yours is not ready, then Mr and Mrs. Jones around the corner will do just fine to show!
5. Keep it Light and Bright! Make sure that after you de-clutter, you deep clean and paint! Every room should sparkle! Buyers want good light and freshly painted (neutral please) walls in their new home. Not sure what neutral means (check out your local Pottery Barn store for great ideas). Replace burned out bulbs, clean your windows until they sparkle, clean screens (or remove them entirely and stack them in the garage). You want as much light coming in as possible. Still have those heavy custom drapes from the 1980’s? Now is the time to get rid of them! Buyers don’t care how much you paid for them and they date your home severely! Same goes for wallpaper! Get rid of it! Buyers know it is labor intensive work and they don’t have to do it in this market! They will typically deduct thousands off the asking price or simply go on down the street, so rent a steamer or hire someone who can quickly take it off! Wallpaper will kill a sale faster than you can blink! Put a fresh coat of paint on the walls and hang some inexpensive rods that look new and chic, add some floor length or a bit longer sheers (never hang short or window length unless it is an over the sink kitchen window) and Voila! Your home suddenly looks newer and brighter!
6. Kitchens Sell a Home! Now is not the time to totally remodel your kitchen to get more money but it is the time to paint the kitchen (remove any old wallpaper please!), paint the cabinets if needed, update the cabinet hardware, and the kitchen faucet! Some experts advise buying one brand new high-end stainless steel appliance to replace any old ones that you have. (It makes the whole kitchen look expensive). Some also suggest replacing formica counters with more high-end granite. It depends on your price points and the comparables in your neighborhood. Do the other homes that are comparable have granite or silestone counters? Remember, it may cost you a few thousand to do this, but buyers typically offer an average of $30,000 less to upgrade a kitchen! Never ignore your competition. Be a savvy, educated seller. It will pay off in the long run.
7. Pet Sense! You may think it is okay to put the kennel in the laundry room but if Fido barks continually when your home is being shown, the buyers will flee before they can even see half of the house. If you have an indoor cat or dog, remember, you may be showing the home to people who do not! If possible, take the dog and cat (yes, they have kitty carriers) with you when the house is being shown! I can not stress the importance of this enough. Remove the kitty litter box, too! No buyer wants to see or smell kitty litter or even worse, reminders of pet “accidents” on the carpeting. If the carpet is stained, have it professionally cleaned and deodorized by experts in getting out the stains. If the stains and smell can not be removed, get rid of the carpet and pad, bleach the floor underneath, and replace the carpeting!
For more tips on selling your home, I always suggest to my sellers to spend a few evenings watching HGTV and see how the experts do it!
And for more tips on selling your home, check out their top 10 at HGTV.com/real-estate