As most of you already know, the spring real estate market tends to be the busiest of the year. This is the time of the year where you start to see the snow melt, flowers bloom and more For Sale signs on front lawns. With a jump in the amount of homes for sale, it may be harder for your home to get noticed or even get the number of showings you will need in order to get top dollar for your home. If you are thinking about selling we strongly encourage you to consider these 5 P’s before you list your house this spring.
1. Plan
It sounds so simple but as Real Estate Agents, we often see this as one of the most overlooked considerations. When you plan to sell your home you may want to ask yourself the following questions:
- What date do we want to list our home?
- What is the best closing date for us?
- Are you planning on buying another home? If so when should we start looking? Buy?
- What if we can’t close the sale of our home on the same day as our new home?
- Do you have friends or family that will allow you to stay for a few days?
- Would we need to put our stuff in storage and what are the costs?
- What is our Budget for our next home and should we get a mortgage Pre-Approval?
- Where do we want to move?
- What features do we want in our new home
- Lastly, but most importantly, am I on the same page as my spouse?
2. Preview Realtors.
Maybe you know a Realtor® or maybe you have a friend who has a friend that knows a Realtor®. We believe that buying or selling real estate could be the most important decision of your life so before you trust your friend’s agent, we feel it is important for you do your homework when hiring a Realtor®. Are they going to represent your best interests? Do you feel comfortable with this person who has the responsibility of your family’s home in their hands? See tips on Choosing the Right Agent
3. Price
Everyone wants to get the most money possible when they sell their home but overpricing it can end up costing you in the long run. If you head into the spring market and your home is not priced properly, you could find your home still on the market 60 days later. Also, you may notice that you are getting a lot of showings but no offers. That’s because agents are using your home to sell the other house down the street. They are showing their clients a house that is overpriced to sell the house that is priced properly. Sure you can always reduce the price of your home if it doesn’t sell, but that too can have a negative impact on the final selling price. Buyers might wonder why this house had a price change and automatically think there is something wrong with the house. So when you meet with your real estate agent be sure to ask them for the most current market data so that you can make an informed decision when pricing your home for sale. For more on pricing your home check out The Price is Right: Tips For Determining the Asking Price.
4. Pre-List Home Inspection
One of the biggest reasons an agreement to buy a home falls through is because of a home inspection. Sometimes a potential buyer can get cold feet during a home inspection for no reason; they may get scared over the smallest imperfection. To help avoid this from happening, and maybe to even encourage buyers to submit a firm offer with no conditions, do a pre-list home inspection. Having a professional home inspector come in to your home a do a complete inspection with a full report could help in many ways. One is that you will see some of the deficiencies in your home and correct them before you go to market. Another is having that report on the table ready for potential buyers. Allowing them to read though your pre-list home inspection may set their minds at ease and be prepared to offer you a firm deal for your home.
5. Prepare Your Home for Showing
Preparing your home for sale may be more than just spring cleaning. Pardon the pun. Staging is not just a buzz word, it will help you sell your home for top dollar in the end. Here are just a few things to consider when you prepare your home for showing:
- Free and clear of clutter
- Remove personal photos
- Address any pet odors
- Are all lights working?
- Make sure your house is clean and in showroom condition
- Remove all toiletries
- All counters should empty and clean
- Is all garbage removed from outside?
- Are all beds made before you leave for work?