Price your Home Correctly
A realistic price is the most important consideration in the proper marketing of your home.
The biggest mistake that sellers make is that they price their home based on what they “need” as opposed to actual market value. An inflated price is always a losing proposition resulting in a loss of time and in the end less money in your pocket than if you priced properly at the start.
Even the finest advertising and sales efforts cannot sell a property that is overpriced. Pricing your home correctly at the start of the process will insure that you get the best results.
Northrup Associates can help you determine a fair and realistic price for your home. We have built our business on know-how and knowledge of the market and we closely follow market trends. Call us at 781-246-2100 to find out the market value of your home.
Timing is Everything
Years ago, real estate was predictable. Sellers traditionally waited until the spring to market
a home. Today’s real estate market is unpredictable. In any given year, the fall, summer or winter could be the busiest season or the best time to sell. It all depends on market conditions at the time and what the supply and demand is in a particular price range. Call us at 781-246-2100 and we will let know if now if it is the right time.
Always Use an Attorney
We always recommend that you use a real estate attorney. We have run into sellers who want to save money and don’t think they need an attorney. Over the years we have found that approach to be penny wise and pound foolish, especially when you consider all that is at stake in a real estate transaction. Remember, real estate agents are not attorneys and cannot give legal advice.
De-clutter and Stage
When selling a home, you want to put your property in its very best light. A thorough room by room evaluation could pay big dividends. De-cluttering will allow you to highlight the best assets of your home.
Remember, while your home is set up for your comfort, you need to imagine how it will look though a buyer’s eyes. Call one of our agents for suggestions at 781-246-2100 or ask us for our recommendations for a professional stagger.
Do your Title V Test Before Marketing
If you own a home with a septic system or cesspool, if possible, arrange for your Title V test prior to marketing your home. That way, you will be able to accurately estimate your proceeds from the sale and ensure that there are no surprises later in the process. In the event that you need repairs or a new system installed, consult with your agent beforehand. In some cases it is wise to have the work done before marketing the home. In other situations, you may want to secure your buyer first.
Be Careful About Making Improvements
Making improvements to increase the selling price of a home should be carefully considered. In many cases an improvement like adding a new bathroom can add to a homes value. However, sometimes investing in improvement projects yield mixed results. For instance many improvements do not result in dollar for dollar recovery. At times rather than doing upgrades, the owner would have better off listing the home at a lower price. If you have a question about whether or not to embark upon a project prior to selling call one of our Realtors at 781-246-2100
Don’t Get Emotional
The biggest mistake that sellers make, aside from overpricing, is that at times they allow their emotions to stand in the way of a sale. During the negotiation process, sometimes sellers become personally offended by a buyers offer or let minor issues become major obstacles that stand in the way of a sale. Remember this is a business transaction. Don’t loose sight of the goal, which is to get the house sold!
Check Out Potential Problems
If there are repairs that you anticipate may need to be made to your home that could become an issue in the sale process, take the initiative before hand. For instance if you know your roof is near the end of its life cycle get an opinion and/or estimate from a professional roofer. That way if an item becomes an issue in the inspection process, you will have the answers to be able to resolve the issue in an expeditious manner. Sometimes it is also worthwhile for sellers to have their own home inspection prior to marketing the home.
Don’t Rely on Websites to Price your Home
The internet has been very helpful to both buyers and sellers and a positive force revolutionizing the real estate industry. However, it does have its limitations. In particular, we have found that sites that “estimate” the value of your home do a disservice to both buyers and sellers.
Remember, the “estimates” don’t take into account anything about the actual condition or special features of a home. You need to actually be in the home to know what it is really worth. A “estimate” that is too high misleads owners into bad pricing decisions. An “estimate” that is too low gives buyers second thoughts as to the homes value.
Choose The Realtor® - Not The Price
When getting ready to list your home, seeking out a number of different “opinions of value” is always a good idea. However, a common mistake that some sellers make is that when choosing a Realtor® to list their home, they pick the Realtor® that offers them the highest listing price.
In order to be successful, sellers need to make not one, but two decisions. First they need to choose the Realtor® and agency based on their track record. Realtors® who are not experienced will not be accurate when it comes to pricing. Picking a Realtor® based on price alone will end up costing a seller time and money. Once the Realtor® is chosen the Realtor® and seller can work together to set the right price.