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If you are thinking of selling your home, you might be caught
up in a mass of emotions. You may be looking forward to moving
up to a new home or facing the uncertainty of a major move across
country. You may be reluctant to leave your memories behind
or eager to start new and exciting adventures. We are here to
help you with any of your needs. Call or e-mail us today!
FILL
OUT OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
Getting
Your House Ready to Sell
Introduction - Emotion vs. Reason
When conversing with real estate agents, you will often find
that when they talk to you about buying real estate, they will
refer to your purchase as a "home." Yet if you are
selling property, they will often refer to it as a "house."
There is a reason for this. Buying real estate is often an emotional
decision, but when selling real estate you need to remove emotion
from the equation.
You need to think of your house as a marketable commodity.
Property. Real estate. Your goal is to get others to see it
as their potential home, not yours. If you do not consciously
make this decision, you can inadvertently create a situation
where it takes longer to sell your property.
The first step in getting your home ready to sell is to "de-personalize"
it.
De-personalize the House
The reason you want to "de-personalize" your home
is because you want buyers to view it as their potential home.
When a potential homebuyer sees your family photos hanging on
the wall, it puts your own brand on the home and momentarily
shatters their illusions about owning the house. Therefore,
put away family photos, sports trophies, collectible items,
knick-knacks, and souvenirs. Put them in a box. Rent a storage
area for a few months and put the box in the storage unit.
Do not just put the box in the attic, basement, garage or a
closet. Part of preparing a house for sale is to remove "clutter,"
and that is the next step in preparing your house for sale.
Removing Clutter, Though You
May Not Think of it as Clutter
This is the hardest thing for most people to do because they
are emotionally attached to everything in the house. After years
of living in the same home, clutter collects in such a way that
may not be evident to the homeowner. However, it does affect
the way buyers see the home, even if you do not realize it.
Clutter collects on shelves, counter tops, drawers, closets,
garages, attics, and basements.
Take a step back and pretend you are a buyer. Let a friend
help point out areas of clutter, as long as you can accept their
views without getting defensive. Let our HomeJoy of the Space
Coast agents help you, too.
Kitchen Clutter
The kitchen is a good place to start removing clutter, because
it is an easy place to start. First, get everything off the
counters. Everything. Even the toaster. Put the toaster in a
cabinet and take it out when you use it. Find a place where
you can store everything in cabinets and drawers. Of course,
you may notice that you do not have cabinet space to put everything.
Clean them out. The dishes, pots and pans that rarely get used?
Put them in a box and put that box in storage, too.
You see, homebuyers will open all your cabinets and drawers,
especially in the kitchen. They want to be sure there is enough
room for their "stuff." If your kitchen cabinets,
pantries, and drawers look jammed full, it sends a negative
message to the buyer and does not promote an image of plentiful
storage space. The best way to do that is to have as much "empty
space" as possible.
For that reason, if you have a "junk drawer," get
rid of the junk. If you have a rarely used crock pot, put it
in storage. Do this with every cabinet and drawer. Create open
space.
If you have a large amount of foodstuffs crammed into the shelves
or pantry, begin using them – especially canned goods.
Canned goods are heavy and you don’t want to be lugging
them to a new house, anyway – or paying a mover to do
so. Let what you have on the shelves determine your menus and
use up as much as you can.
Beneath the sink is very critical, too. Make sure the area
beneath the sink is as empty as possible, removing all extra
cleaning supplies. You should scrub the area down as well, and
determine if there are any tell-tale signs of water leaks that
may cause a homebuyer to hesitate in buying your home.
Closet Clutter
Closets are great for accumulating clutter, though you may
not think of it as clutter. We are talking about extra clothes
and shoes – things you rarely wear but cannot bear to
be without. Do without these items for a couple of months by
putting them in a box, because these items can make your closets
look "crammed full." Sometimes there are shoeboxes
full of "stuff" or other accumulated personal items,
too.
Furniture Clutter
Many people have too much furniture in certain rooms –
not too much for your own personal living needs – but
too much to give the illusion of space that a homebuyer would
like to see. You may want to tour some builders’ models
to see how they place furniture in the model homes. Observe
how they place furniture in the models so you get some ideas
on what to remove and what to leave in your house.
Storage Area Clutter
Basements, garages, attics, and sheds accumulate not only clutter,
but junk. These areas should be as empty as possible so that
buyers can imagine what they would do with the space. Remove
anything that is not essential and take it to the storage area.
Or have a garage sale.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
Fixing Up the House Interior
Plumbing and Fixtures
All your sink fixtures should look shiny and new. If this cannot
be accomplished by cleaning, buy new ones where needed. If you
don’t buy something fancy, this can be accomplished inexpensively
and they are fairly easy to install. Make sure all the hot and
cold water knobs are easy to turn and that the faucets do not
leak. If they do, replace the washers. It is not difficult at
all.
Check to make sure you have good water pressure and that there
are no stains on any of the porcelain. If you have a difficult
stain to remove, one trick is to hire a cleaning crew to go
through and clean your home on a one-time basis. They seem to
be wonderful at making stains go away.
Ceilings, Walls and Painting
Check all the ceilings for water stains. Sometimes old leaks
leave stains, even after you have repaired the leak. Of course,
if you do have a leak, you will have to get it repaired, whether
it is a plumbing problem or the roof leaks.
You should do the same for walls, looking for not only stains,
but also areas where dirt has accumulated and you just may not
have noticed. Plus, you may have an outdated color scheme.
Painting can be your best investment when selling your home.
It is not a very expensive operation and often you can do it
yourself. Do not choose colors based on your own preferences,
but based on what would appeal to the widest possible number
of buyers. You should almost always choose an off-white color
because white helps your rooms appear bright and spacious.
Carpet and Flooring
Unless your carpet appears old and worn, or it is definitely
an outdated style or color, you probably should do nothing more
than hire a good carpet cleaner. If you do choose to replace
it, do so with something inexpensive in a fairly neutral color.
Repair or replace broken floor tiles, but do not spend a lot
of money on anything. Remember, you are not fixing up the place
for yourself. You want to move. Your goal is simply to have
as few negative impressions upon those who may want to purchase
your property.
Windows and Doors
Check all of your windows to make sure they open and close
easily. If not, a spray of WD40 often helps. Make sure there
are no cracked or broken windowpanes. If there are, replace
them before you begin showing your home.
Do the same things with the doors – make sure they open
and close properly, without creaking. If they do, a shot of
WD40 on the hinges usually makes the creak go away. Be sure
the doorknobs turn easily, and that they are cleaned and polished
to look sharp. As buyers go from room to room, someone opens
each door and you want to do everything necessary to create
a positive impression.
Odor Control
For those who smoke, you might want to minimize smoking indoors
while trying to sell your home. You could also purchase an ozone
spray that helps to remove odors without creating a masking
odor.
Pets of all kinds create odors that you may have become used
to, but are immediately noticeable to those with more finely
tuned olfactory senses. For those with cats, be sure to empty
kitty litter boxes daily. There are also products that you can
sprinkle in a layer below the kitty litter that helps to control
odor. For those with dogs, keep the dog outdoors as much as
possible. You might also try sprinkling carpet freshener on
the carpet on a periodic basis.
Costs of Repairs
Do not do anything expensive, such as remodeling. If possible,
use savings to pay for any repairs and improvements –
do not go charging up credit cards or obtaining new loans. Remember
that part of selling a house is also preparing to buy your next
home. You do not want to do anything that will affect your credit
scores or hurt your ability to qualify for your next mortgage.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
Fixing Up Outside the House
Most real estate advice tells you to work on the outside of
the house first, but unless there is a major project involved,
we believe it is best to do it last. There are two main reasons
for this. First, the first steps in preparing the interior of
the house are easier. They also help develop the proper mind
set required for selling - beginning to think of your "home"
as a marketable commodity. Second, the exterior is the most
important. A homebuyer’s first impression is based on
his or her view of the house from the real estate agent’s
car.
So take a walk across the street and take a good look at your
house. Look at nearby houses, too, and see how yours compares.
Landscaping
Is your landscaping at least average for the neighborhood?
If it is not, buy a few bushes and plant them. Do not put in
trees. Mature trees are expensive, and you will not get back
your investment. Also, immature trees do not really add much
to the appearance value of the home.
If you have an area for flowers, buy mature colorful flowers
and plant them. They add a splash of vibrancy and color, creating
a favorable first impression. Do not buy bulbs or seeds and
plant them. They will not mature fast enough to create the desired
effect and you certainly don’t want a patch of brown earth
for homebuyers to view.
Your lawn should be evenly cut, freshly edged, well watered,
and free of brown spots. If there are problems with your lawn,
you should probably take care of them before working on the
inside of your home. This is because certain areas may need
re-soding, and you want to give it a chance to grow so that
re-sod areas are not immediately apparent. Plus, you might want
to give fertilizer enough time to be effective.
Always rake up loose leaves and grass cuttings.
House Exterior
The big decision is whether to paint or not to paint. When
you look at your house from across the street, does it look
tired and faded? If so, a paint job may be in order. It is often
a very good investment and really spruces up the appearance
of a house, adding dollars to offers from potential homebuyers.
When choosing a color, it should not be something garish and
unusual, but a color that fits well in your neighborhood. Of
course, the color also depends on the style of your house, too.
For some reason, different shades of yellow seem to elicit the
best response in homebuyers, whether it is in the trim or the
basic color of the house.
As for the roof, if you know your house has an old leaky roof,
replace it. If you do not replace a leaky roof, you are going
to have to disclose it and the buyer will want a new roof, anyway.
Otherwise, wait and see what the home inspector says. Why spend
money unnecessarily?
The Back Yard
The back yard should be tidy. If you have a pool or spa, keep
it freshly maintained and constantly cleaned. For those that
have dogs, be sure to constantly keep the area clear of "debris."
If you have swing sets or anything elaborate for your kids,
it probably makes more sense to remove them than to leave them
in place. They take up room, and you want your back yard to
appear as spacious as possible, especially in newer homes where
the yards are not as large.
The Front Door & Entryway
The front door should be especially sharp, since it is the
entryway into the house. Polish the door fixture so it gleams.
If the door needs refinishing or repainting, make sure to get
that done.
If you have a cute little plaque or shingle with your family
name on it, remove it. Even if it is just on the mailbox. You
can always put it up again once you move. Get a new plush door
mat, too. This is something else you can take with you once
you move.
Make sure the lock works easily and the key fits properly.
When a homebuyer comes to visit your home, the agent uses the
key from the lock box to unlock the door. If there is trouble
working the lock while everyone else stands around twiddling
their thumbs, this sends a negative first impression to prospective
homebuyers.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
When
Your Selling Price is too High, Beware!
Meeting With Realtors
So you’ve decided to sell your home and have a fairly
good idea of what you think it is worth. Being a sensible home
seller, you schedule an appointment with your local HomeJoy
of the Space Coast Realtor and two other listing agents. Each
Realtor comes prepared with a "Competitive Market Analysis"
on fancy paper and they each recommend a specific sales price.
Amazingly, a couple of the Realtors have come up with prices
that are lower than you expected. Although they back up their
recommendations with recent sales data of similar homes, you
remain convinced your house is worth more. When you interview
the third agent’s figures, they are much more in line
with your own anticipated value, or maybe even higher. Suddenly,
you are a happy and excited home seller, already counting the
money.
Which Realtor do you choose?
If you’re like many people, you pick Realtor number three.
This is an agent who seems willing to listen to your input and
work with you. This is an agent that cares about putting the
most money in your pocket. This is an agent that is willing
to start out at your price and, if you need to drop the price
later, you can do that easily, right? After all, everyone else
does it!
The truth is that you may have just met an agent engaging in
a questionable sales practice called "buying a listing."
He "bought" the listing by suggesting you might be
able to get a higher sales price than the other agents recommended.
Most likely he is quite doubtful that your home will actually
sell at that price. The intention from the beginning is to eventually
talk you into lowering the price.
Why do agents "buy" listings? There are basically
two reasons. A well-meaning and hard working agent can feel
pressure from a homeowner who has an inflated perception of
his home’s value. On the other hand, there are some agents
who engage in this sales practice routinely.
What Happens Behind the Scenes
Whichever the case, if you start out with too high a price
on your home, you may have just added to your stress level,
and selling a home is stressful enough. There will be a lot
of "behind the scenes" action taking place about which
you don’t know.
Contrary to popular opinion, the listing agent does not usually
attempt to sell your home to a homebuyer. That isn’t very
efficient. Listing agents market and promote your home to the
hordes of other local agents who do work with homebuyers, dramatically
increasing your personal sales force. During the first couple
of weeks your home should be a flurry of activity with buyer’s
agents coming to preview your home so they can sell it to their
clients.
If the price is right.
If you and your agent have overpriced, fewer agents will preview
your home. After all, they are Realtors, and it is their job
to know local market conditions and home values. If your house
is dramatically above market, why waste time? Their time is
better spent previewing homes that are priced realistically.
Dropping Your Price...Too Late
Later, when you drop your price, your house is "old news."
You will never be able to recapture that flurry of initial activity
you would have had with a realistic price. Your house could
take longer to sell.
Even if you do successfully sell at an above market price,
your buyer will need a mortgage. The mortgage lender requires
an appraisal. If comparable sales for the last six months and
current market conditions do not support your sales price, the
house won’t appraise. Your deal falls apart. Of course,
you can always attempt to renegotiate the price, but only if
the buyer is willing to listen. Your house could go "back
on the market."
Once your home has fallen out of escrow or sits on the market
awhile, it is harder to get a good offer. Potential buyers will
think you might be getting desperate, so they will make lower
offers. By overpricing your home in the beginning, you could
actually end up settling for a lower price than you would have
normally received.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
Types
of Listing Contracts
There are several different types of listing contracts, but
very few of them are used. The "Exclusive Right to Sell"
is the most common, but there is the "open listing,"
the "exclusive agency listing," and the "one-time
show."
Open Listing
The "open listing" is mostly used by people trying
to sell their home by owner who are also willing to work with
real estate agents. Basically, it gives a real estate agent
the right to bring buyers around to view your home. If their
client buys your home, the agent earns a commission. There is
nothing exclusive about an open listing and a home seller can
give out such listings to every agent who comes around.
For that reason, no agent is going to market your home or put
it in the Multiple Listing Service. If your home fits the criteria
for one of their clients, and it is convenient, they may be
willing to show it to their client. That is all an "open
listing" is good for.
One-Time Show
A "one-time show" is similar to an open listing in
many respects, as it is most often used by real estate agents
who are showing a FSBO (for sale by owner) to one of their clients.
The home seller signs the agreement, which identifies the potential
buyer and guarantees the agent a commission should that buyer
purchase the home. This prevents the buyer and seller from negotiating
directly later and trying to avoid paying the agent’s
commission.
As with an open listing, agents will not be spending money
on marketing your home and it will not be placed in the Multiple
Listing System.
Exclusive Agency Listing
An "exclusive agency" listing allows an agent to
list and market your home, guaranteeing them a commission if
the house sells through any real estate agent or company. It
also allows sellers to seek out buyers on their own.
This is not a popular type of listing agreement. The reason
is that there is not much incentive for agents to spend money
marketing your home. If you come up with your own buyer, they
have spent money they cannot earn back through the real estate
commission. Plus, it is too easy for a greedy buyer to go around
the agent and negotiate directly with the seller.
If you find an agent willing to accept such a listing, do not
expect too much from them. They will probably just place it
in the Multiple Listing Service and sit around to see if something
happens. A good agent would never accept such a listing, and
you probably want a good agent.
Exclusive Right to Sell
Giving a real estate agent the "exclusive right to sell"
your property does not mean that there will not be other agents
involved. Your agent is the listing agent and part of his or
her job is to market your home to other agents who work with
buyers. Those agents will show your home to their clients. Regardless
of who sells the home, even if you sell it yourself to a friend
at work, your listing agent will earn a commission.
An exclusive right to sell is the only type of listing an effective
real estate agent will accept. This is because they have a reasonable
expectation of earning back any money they spend on promoting
and marketing your property.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
Details
of a Listing Contract
Obviously the name of the seller and the property address will
be included in the listing contract. There are many other things
that are included, too, and you should be aware of them.
Price and Terms of Sale
When setting the terms of sale, the main thing you are concerned
with is the price. You should have a basic idea of what your
home is worth by keeping track of other sales in the neighborhood.
Plus, you have probably interviewed at least two real estate
agents and they have given you their own ideas. Exercise great
care in determining your asking price, making sure not to set
it too high or too low.
In addition to the price, you will disclose what personal property,
if any, goes with the house when you sell it. Personal property
is anything that is not attached or fixed to the home, such
as washers, dryers, refrigerators, and so on.
There may be some item that is considered "real property"
that you do not intend to include in the sale. Real property
is anything that is attached to the home. For example, you may
have a chandelier that has been in your family for generations
and you take it from home to home when you move. Since the chandelier
is attached to the house, it is considered "real property"
and a reasonable buyer would normally expect it to go with the
house.
Lockbox - Yes or No?
A lockbox is a basically a padlock with a cavity inside where
a key to your home can be placed. Only someone with an electronic
key or the combination can get into the lockbox and access the
key. Having a lockbox available at your house makes it easy
for other agents to get access to your house.
Without the lockbox, agents representing buyers would have
to set appointments to meet you or your agent at the house so
they could gain access and view the home. This would be inconvenient.
Since almost every other house does have a lockbox available,
if you do not allow one most agents will simply not show your
property. You will miss out on lots of potential buyers.
The listing contract specifies whether you allow a lockbox
or not. It is locked into place, usually on the front door and
cannot be removed. Only other agents can access the key that
is located within the lockbox.
Real Estate Commission
In some areas of the country there is a certain percentage
that real estate agents expect to earn as a commission. This
commission amount is a certain percent of the sales price.Or,
some companies will charge a set fee for their services. However,
just like anything else in real estate, this amount is negotiable.When
completing the listing agreement, you and your agent will agree
on the amount of the real estate commission.
Multiple Listing Service
Your listing contract should specify whether or not the house
will be listed with the local MLS (multiple listing service).
It is definitely in your interest to have the house listed.
This is because your sales force is automatically multiplied
by however many agents are members of the local MLS. If your
house is not listed, then you only have one agent working for
you instead of many.
Agency Duties of a Listing Agent
The listing contract will specify that your agent is acting
as a "seller’s agent." This means that, in the
sale of your house, they are working for you and only you. However,
there may be times when your listing agent has a client who
wants to buy your home. For that reason, there is a little "wiggle
room" in the listing contract. If your agent also represents
the buyer, the listing contract should specify that they provide
an additional disclosure that details their duties as transaction
broker.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
The
Listing Agent - Preliminary Marketing of Your Home
The "Real" Role of
a Listing Agent
When you bought your home, you probably used the services of
a real estate agent. You found that agent through a referral
from a friend or family member, or through some sort of advertising
or marketing. The agent helped you in many ways and eventually
you found the house of your dreams, made an offer, closed the
deal, and moved in.
For whatever reason, now it is time to sell your home and you
need a real estate agent again. Many home sellers, especially
those selling their first home, tend to think all agents are
similar to the one that helped them buy their home.
Although real estate agents can (and do) work with both buyers
and sellers, most tend to concentrate more on one than the other.
They specialize. When you bought your home, you probably worked
with a "selling agent" – an agent that works
mostly with buyers. Because of the nature of real estate advertising
and marketing, the public’s main image of the real estate
profession is that of the selling agent.
As a result, many homeowners expect their listing agent to
do the same things that a selling agent does – find someone
to buy their home. After all, they do the things you would expect
if they were searching for buyers. A sign goes up in the front
yard. Ads are placed in the local newspaper and real estate
magazines. Your agent holds an open house on the weekend. Your
house is proudly displayed on the Internet.
But this is only "surface" marketing. More important
activity occurs behind the scenes. After the "for sale"
sign goes up and flyers are printed, your agent’s main
job is to market your home to other agents, not to homebuyers.
The "For Sale" Sign
It seems fairly obvious that when you put your house up for
sale that your agent will put a "for sale" sign in
the front yard. The sign will identify the agent’s company,
the agent, and have a phone number so prospective buyers can
call and get information.
Signs are great at generating phone calls, even if very few
actually purchase the home they call about. However, you might
be one of the lucky ones. For that reason, you should determine
what happens when someone calls the number on the sign. Does
a live person answer the phone or does the call go to a voicemail
or recorder?
You want someone to answer the phone while the caller is "hot."
When buyers call the number on the sign, the call should go
to a live person who can answer questions immediately. A potential
buyer may be on the street outside your home, placing the call
using a cell phone.
Flyers and a Brochure Box
Your agent should prepare a flyer that displays a photo and
provides details about your house. There should also be a phone
number so buyers can contact your agent to get additional information.
The flyers should be displayed in a prominent location in your
home and also in a brochure box attached to the "for sale"
sign.
The brochure box is convenient for those buyers who drive by
and just happen to see the "for sale" sign in front
of your house. It provides enough information so they can determine
if they want to follow up with a phone call or inform their
own agent they are interested in your house.
FILL OUT
OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
The
Listing Agent - Marketing Your Home to Other Agents
The Multiple Listing Service
Even before the sign is up and the brochures are ready, your
agent should list your property with the local MLS (Multiple
Listing Service). The MLS is a database of all the homes listed
by local real estate agents who are members of the service,
which is practically all of the local agents.
Important information about your property is listed here, from
general data such as square footage and number of rooms, to
such details as whether you have central air conditioning or
hard wood flooring. There should also be a photo, and a short
verbal description of what makes your house "special."
Agents search the database for homes that fit the price range
and needs of their clients. They pay special attention to homes
that have been recently placed on the market, which is one reason
you get a lot of attention when your house is first listed.
Many agents will want to preview the home before they show it
to their clients.
The main point about having your house listed in the MLS is
that you expand your sales force by the number of local MLS
members. Instead of having just one agent working for you, now
you may have hundreds or more, depending on the size of your
community.
The listing agent’s main job to make sure that the other
MLS members know about your house. This is accomplished through
listing your house in the Multiple Listing Service, broker previews
and advertising targeted toward other agents, not homebuyers.
Office Preview
If your listing agent belongs to a fairly sizable office, an
"office preview" will introduce your house to other
agents working in the same office. In effect, they get a "head
start" on selling your property. Once a week, the office’s
agents will get together, share vehicles, and "caravan"
to all of the new listings. They generally pull up in front
of your house at about the same time (some even use a bus) then
file quickly through your home like some bizarre "follow
the leader" game.
It can be amazing to watch.
They go through very quickly, since most of them are familiar
with similar models of your house. They are usually looking
for anything memorable or different and to determine if your
house is one they would be proud to show their clients. Then
they all pile back into their cars and move on to the next house
on the tour.
But some of them come back…with buyers.
Broker Previews and Culinary
Delights
Broker preview is very similar to an office preview, except
it is open to all the members of the local multiple listing
service. It usually occurs within the first week your house
is placed on the market, just after the office preview. However,
there are lots of new listings to choose from, and not all the
agents preview all the new listings each week. You may not get
as many agents visiting your home as there were on the office
preview.
Unless your agent "entices" them to come. This is
where you could provide some help, if you are so inclined.
Though it may seem funny, nothing seems to attract a real estate
agent like the offer of free food. So if your agent offers "free
eats" at a broker preview, you are likely to get more visitors
than if nothing is offered. Realize that many agents have been
on this weekly circuit for years, so "boring" food
does not really accomplish much. In other words, sandwiches
supplied from the local grocery chain are not very enticing.
If you want to help your agent sell your home quickly, try
and help them be creative and original in the choice of a culinary
treat.
Of course, some agents will actually come to look at your house,
too – whether food is offered or not.
Maybe.
Office Flyers
Your agent will undoubtedly prepare flyers about your property
so that prospective homebuyers can be informed about the attractive
features of your house. These flyers (or similar ones) should
also be sent to all the local real estate offices, too. Most
areas have a weekly flyer service that delivers advertisements
to all of the local offices. Since agents get these flyers every
week, they do not always look at them. However, a large percentage
of them do. Some agents will keep the flyer and bring buyers
to your house.
Marketing Sessions
Your agent probably belongs to a local association of Realtors
and they often have meetings once a month. At these meetings
there is often a "marketing session" where some agents
stand up and tell about their listings and other agents stand
up and tell about their buyers. Your listing agent has an opportunity
to "pitch" your house at these marketing sessions.
At the same time, these sessions may not be as effective as
they were in the past. One reason is that they are often more
social occasions than serious business meetings. Another reason
is that, as technology has expanded, local associations have
tended to merge and create larger Multiple Listing Services
and Associations. Local meetings have become poorly attended
gatherings.
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The
Listing Agent - Marketing Your Home to Homebuyers
The Purpose of Advertising in
General
Every home seller likes to be assured that their listing agent
or the real estate company will run ads featuring their home.
Newspaper ads could be large display ads with lots of listings
or small classified ads featuring just your property. Ads may
also appear in local real estate magazines and your listing
will also show up on the Internet.
Of course the agents and companies will run ads featuring your
house, but not for the reasons you expect.
You see, the main job of advertising is not to sell your house
directly. Advertising creates phone calls and some of those
callers become clients of the agents answering the calls. This
builds up a pool of homebuyers looking for property in general,
all represented by selling agents. Multiply this by all the
agents and companies who also advertise homes, and there is
a large pool of homebuyers in the market at any given time –
all of whom are represented by selling agents.
The agents representing those homebuyers know about your home
because it is listed in the Multiple Listing Service, has been
on office and broker preview, and because your agent may have
also sent flyers to all the local real estate offices.
The agents match up their clients with available homes, one
of which may be yours. Then they show the homes to their clients,
who eventually make an offer on one. That is how your house
gets sold. Ads create a pool of clients, one of which buys your
home. Ads do not usually sell your house directly.
Internet marketing works in the same way. Homes advertised
on a webpage generate a pool of buyers. One might end up with
your house, more likely than not, the buyer who eventually purchases
your home will have called on a totally different house or someone
who filled out a general inquiry form.
Or you could be one of the lucky ones – someone calling
on your house may actually end up buying it.
You should also realize that when a company advertises the
homes they have for sale, there is more than one objective.
Sure, the real estate office wants to generate phone calls and
sell houses, but the advertising also shows home sellers how
effectively they market properties. This impresses not only
you, but others who may be thinking of selling their home.
The advertising and web presence brings in more listings, which
generate more ad calls, which produces more buyers….and
that is how real estate advertising really works.
Individual Agent Advertising
Individual agents may advertise your home for the same reasons
as companies do. They usually advertise in classified ads or
in specialty magazines featuring houses available for sale.
As in other types of advertising, these ads rarely sell your
home. Once again, the main goals of advertising are to accumulate
homebuyers as clients, and to impress you and future home sellers
with how well they market their listings. Some agents actually
do sell their own listings, but not that often.
It is much more productive and beneficial if your listing agent
directs most of his or her marketing efforts toward other agents.
Since this is "behind the scenes" marketing that you
don’t actually see, it is often difficult for you to measure
how hard the agent is working for you.
It is a mistake to measure your agent’s effectiveness
solely by counting the number of newspaper and magazine ads
featuring your property.
Neighborhood Announcements
When you first list your home many agents send "announcements"
to all of the other houses in your neighborhood. This can be
done in the form of postcards, a letter, or flyers left hanging
on the front door. These are important because your neighbors
might have friends who are looking to buy a house.
The announcements create "word of mouth" advertising,
which is the best kind.
Open Houses
An open house when your property is first placed on the market
can be very important, but not for the reasons most homeowners
think. Just like with advertising, most visitors to open houses
rarely buy the house they come to look at. They may not even
know the price of your home when they stop by to visit –
they probably just followed an "Open House" sign to
your door.
An open house performs a similar function to the neighborhood
announcements – it lets all of your neighbors know that
your house is for sale, and it practically invites them to come
"take a look." Being generally nosy, a lot of your
neighbors will take advantage of the invitation.
And they may tell their friends about your house, creating
more "word of mouth" advertising.
Of course, there are other reasons for holding open houses,
too. Listing agents who "farm" a particular neighborhood
use them as an opportunity to meet with other local homeowners
who will someday be selling their home. Your agent may hope
to list their homes in the future.
Open houses held after your home has been on the market awhile
do not usually serve a useful purpose in selling your home.
Most of the neighbors already know your house is for sale and
open house visitors rarely buy the homes they visit.
However, if you really want more open houses, your listing
agent may allow other agents to hold it open. Open houses attract
prospective homebuyers and agents hope to convince some of those
homebuyers to become their clients.
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OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
Showing
the House to Potential Home Buyers
Your house should always be available for show, even though
it may occasionally be inconvenient for you. Let your listing
agent put a lock box in a convenient place, to make it easy
for other agents to show your home to homebuyers. Otherwise,
agents will have to schedule appointments, which is an inconvenience.
Most will just skip your home to show the house of someone else
who is more cooperative.
Most agents will call and give you at least a couple of hours
notice before showing your property. If you refuse to let them
show it at that time, they will just skip your house. Even if
they come back another time, it will probably be with different
buyers and you may have just lost a chance to sell your home.
Why You Should Not Be Home
Homebuyers will feel like intruders if you are home when they
visit, and they might not be as receptive toward viewing your
home. Visit the local coffee house, yogurt shop, or take the
kids to the local park. If you absolutely cannot leave, try
to remain in an out of the way area of the house and do not
move from room to room. Do not volunteer any information, but
answer any questions the agent may ask.
Lighting, Fragrances, Pet Control
and More
Lighting
When you know someone is coming by to tour your home, turn
on all the indoor and outdoor lights – even during the
day. At night, a lit house gives a "homey" impression
when viewed from the street. During the daytime, turning on
the lights prevents harsh shadows from sunlight and it brightens
up any dim areas. Your house looks more homey and cheerful with
the lights on.
Fragrances
Do not use scented sprays to prepare for visitors. It is too
obvious and many people find the smells of those sprays offensive,
not to mention that some may be allergic. If you want to have
a pleasant aroma in your house, have a potpourri pot or something
natural. Or turn on a stove burner for a moment and put a drop
of vanilla extract on it. It will smell like you have been cooking.
Pet Control
If you have pets, make sure your listing agent puts a notice
with your listing in the multiple listing service. The last
thing you want is to have your pet running out the front door
and getting lost. If you know someone is coming, it would be
best to try to take the pets with you while the homebuyers tour
your home. If you cannot do that, It is best to keep dogs in
a penned area in the back yard. Try to keep indoor cats in a
specific room when you expect visitors, and put a sign on the
door. Most of the time, an indoor cat will hide when buyers
come to view your property, but they may panic and try to escape.
The Kitchen Trash
Especially if your kitchen trash can does not have a lid, make
sure you empty it every time someone comes to look at your home
– even if your trash can is kept under the kitchen sink.
Remember that you want to send a positive image about every
aspect of your home. Kitchen trash does not send a positive
message. You may go through more plastic bags than usual, but
it will be worth it.
Keeping the House Tidy and Neat
Not everyone makes his or her bed every day, but when selling
a home it is recommended that you develop the habit. Pick up
papers, do not leave empty glasses in the family room, keep
everything freshly dusted and vacuumed. Try your best to have
it look like a model home
Remember, relying on the expertise of a professional real estate
consultant can save time, money and can reduce stress. Let us
streamline the process for you. Contact us today to let us help
you with all your real estate needs.
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OUR SELLERS FORM TO GET STARTED ON SELLING YOUR PROPERTY.
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