Selling a home can be very difficult without the proper strategy. Below are a few tips that we recommend to all of our customers that are selling properties.
- Meet with an experienced Riverside Realty sales agent to determine the proper asking price and workout a customized plan to maximize the marketability of your property.
- Review all financing options.
- Make repairs or improvements that will increase the attractiveness of your property. (See Improvement Tips)
- List your property for sale at the right price.
- Facilitate showings of your property to prospective buyers.
- Consider offers and negotiate a sales contract through your experienced Riverside Realty sales agent.
- Have the necessary inspections made.
- Be patient while your buyer applies and is approved for the necessary financing.
- Go to closing.
- Enlist your experienced Riverside Realty sales agent to purchase a new property!
To make your property more marketable, there are a few cost effective enhancements that you should strongly consider:
- Spruce up all around the property - keep the lawn and shrubbery trimmed and free of clutter
- Put flower pots on the front steps and keep them watered and trimmed
- Fill potholes in your driveway and tidy up walkways
- Clean and rejuvenate your outdoor furniture
- Clear out the garage of everything but the cars
- Straighten anything that sags - gutters, mailboxes, fences, you get the idea
- Fix anything that is loose or squeaks - doorbells, doorknobs, hinges, etc.
- Repair broken windows or shutters
- Clean everything inside your properties to make it look brand new - floors, rugs, furniture, blinds, windows, draperies, and the list goes on
- Try to weed all clutter out of cupboards and closets
- Make sure that your furniture arrangement facilitates an easy flow from room to room
- Scale down or remove any artwork, photos or other items to create a feeling of spaciousness
- Keep the rooms light and airy by having your shades up and drapes back
- Have your kitchen look warm and welcoming by keeping the sink clean and clear of dirty dishes
- Clean your refrigerator
- Adorn your countertops with attractive canisters but keep it clean, less is best
- Completely degrease the oven
- Remove debris from all light fixtures - that's right all dust, flies or whatever else might be up there
- Keep bathrooms scrubbed, tidy and equipped with fresh soap and neatly hung towels
- Get rid of all stains and install new washers on dripping faucets
- If you have time, warm some cinnamon in your newly degreased oven to trigger happy memories for the prospective buyers visiting your home
Frequently Asked Questions
What is the different between a broker and a salesperson?
The salesperson is the 'agent' of the broker and the broker is the 'brokerage service' of the seller. By law, only a broker, who has passed a special exam
to earn the designation, can receive a brokerage commission. A salesperson, or agent, is an associate with that broker. When the salesperson, or agent, represents
a broker in a transaction - rather than the broker working personally with the seller or buyer - the broker splits the brokerage commission with the salesperson, or agent.
What can a real estate agent do to sell my home that I can't do for myself?
Here's what your experienced Riverside Realty sales agent can do that a home seller can't do or finds hard to do:
- Place your property in the Multiple Listing Service (MLS), which exposes your home to all the buyers working with cooperating member brokers.
- Exposes your property to a large pool of qualified buyers the agent spends a career generating
- Provides solid up-to-date market information with recent sales and current listings, which helps you price your home realistically.
- Shows your home whether you're in or not.
- Shows your home to its best advantage.
- Helps you negotiate a satisfactory sale.
- Leads both you and the buyer through the puzzles of rates, points, fees and financing options, helping with loan placement and follow-up, including the provision of names and telephone numbers of specific loan officers.
- Protects your interests from contract to settlement or closing with an understanding of real estate procedures.
How can I be sure that my property is set at the right price?
Arrive at the right price for a property involves timely and comprehensive research and analysis, as well as experienced judgment.
Measuring your home against similar neighborhood homes that have recently been sold or are currently on the market is the first step.
Then determining what features make your home stand out among others currently on the market helps to finesse the pricing schematic.
Typically the right price is within five percent of market value. When you are ready to sell your home, take advantage of Riverside Realty's
more than thirty years of real estate expertise to help you price your home to sell.
How and where do agents find buyers?
Agents are constantly in contact with the largest number of potential buyers possible to generate a steady flow of prospects specifically interested in your property.
Typically, sixty percent of all buyers come through these referrals and ongoing marketing, about twenty percent come from "for sale" signs (where permitted) and general
company reputation and less than twenty percent come from promotions and advertising.
What should I do to get ready for a listing appointment?
A listing appointment is most productive if you have the following information on hand:
- Property tax payments and/or condominium fees for the past year.
- Loan account number and loan balance, your interest rate if possible, your P.I.T.I. (principal, interest, taxes, insurance) and the amount of assumable mortgage money available, if any.
- A list of personal property that will go with the home when you sell it.
- A list of personal property that will not go with the home.
- Legal property descriptions.
- Homeowner's association or condominium bylaws.
- A list of major unresolved defects that would eventually be disclosed to a buyer.
- A list of special features that you think would help sell your home, such as extra storage, built-ins, etc.
How long will I wait between sales contract and settlement?
Depending on the type of financing your buyer is applying for a typical waiting period can be any time between thirty and ninety days, but sometimes more or less.
The difference in waiting time largely depends on whether it is conventional, government-backed FHA/VA or owner-financed. But the biggest factor is the borrower's preparation.
Clean credit and a complete application are the best ways to get a loan approved quickly.
In selling my home and buying a new one, what can I do to be sure I won't get stuck with two mortgages?
The best way to avoid this is to place your home on the market far enough in advance to attract a buyer, negotiate a contract with an acceptable closing date,
and then start shopping for a new home. However, if you find a new home before you've sold your old one, you have two options:
- Arrange for a bridge loan, secured by the equity in either your old or new home to cover your expenses until the closing on your old home; or
- If your move is job-related, you might persuade your employer to either provide a bridge loan or pick up some of your relocating expenses.