Martin Foster | 847-284-6166 | Soldbyfoster@gmail.com
There are many things to consider when you are selling your home. We'll go over some of my recommended topics to go over before listing your home. First, Here are some questions you should discuss with your family before signing a listing agreement.
I advise my sellers to make their home as neutral as possible. That means taking down your lovely family photos, all those magnets and To-do lists on the refrigerator, etc. It has to be done. Why, you might ask. It's simple. You will want the prospective buyers that are viewing your home to feel "At Home". It is rather difficult when they see your happy family on the wall with Fido. Home buying is a very emotional process. Let's make the new buyer feel like it is their home.
Marketing. Make sure your agent is going to take a substantial amount of beautiful photos to showcase your home. If the photos are sub par or very few, that won't generate much interest to visit your home. You know? Keep in mind, there are likely hundreds of homes in your area that you will be competing with to find that "Perfect" buyer. It's 2017, and an advanced agent like myself, uses the technology available. Let's start with High Definition Video. This has replaced the Virtual tours. There is only so much a buyer can see while looking at the (beautiful) photos. Video will give them a sense of the layout. There's also social media, we can't forget that.
Finding a qualified buyer.
This is important. We're hoping that the buyer's agent that shows your home, will be bringing a pre-approved buyer. Let's fast forward to you signing a contract with a buyer that has offered you an acceptable price and contract terms. It is important for your agent to verify that the buyer is in fact pre approved. Check with the lender if the letter is still valid, whether the buyer has a home to sell first, and if there are any items on their credit they need to correct. It is also important to not accept a price that is much higher than comparable properties, if it is too high, it might not appraise. Therefore, the buyer might not get loan approval if your home does not appraise for the contract price.
Pricing your home to sell
We all want you to get as much money as possible. Pricing your home is one of the most crucial aspects of selling a home. There's an art to balancing the pricing. We don't want to list it too low, because then you will get less money right? We also don't want to price it too high, because then you will get less money. Wait....what? Yes, pricing your home too high, above current market value, may lead to selling for even less than you could've in the beginning! It's true! Homes get the most activity in the first 30 days on the market, I even believe that the first two weeks are the most important. If you price your home too high, it will likely sit on the market for too long. When a home is on the market for an extended period of time, buyers tend to think there is something wrong with it and no one wants it. This gives them a negotiation edge. Working with your Realtor on strategic pricing will help you Win. We all like to win.
There are many things to consider when selling your home. Choosing the right agent, a marketing strategy, fixing your home, being inconvenienced, finding a new home, pricing, negotiation, etc. Don't forget, make sure any defects in your home are disclosed to the buyer before a contract. These could include foundation issues, water problems, electrical, plumbing, property easements, tax increases, fire history, and many other things. These are some of the important issues that a great agent will guide you through.
Any other questions? Please feel free to call me at 847.284.6166
Foster Group Real Estate, LLC