Tips for a successful sale
- Price it right: With the right price, you should get multiple offers early in the process. Hopefully, your would-be buyers will bid the price up.
- Don`t quibble over pennies: Don`t worry about squeezing an extra $5,000 out of your potential buyer. Sometimes it`s better to focus on getting the deal done without any extra hassles. Tell buyers you`ll cut them a deal if they agree to buy the house "as is" and will sign a contract that isn`t full of contingencies.
- The early bird catches the worm: If you price your home well enough for an early bid, you`re more likely to get competing offers and maximize the final selling price.
- Before you sell, get a new loan approved: Figure out how to pay for your next home before putting this one on the market. Use worst-case-scenario projections when factoring in the proceeds from your current house.
- Employ a little elbow grease: Baking cookies is a well-known trick for making potential buyers feel at home. But don`t stop there. Make sure your home is spotless and consider using a stager.
- If you go it alone, prepare to work hard: Brokers exist because selling a house is a full-time job. They take care of the marketing campaign; they help you prepare for open houses; they have connections with other brokers who represent buyers. Do some research, and make sure "for sale by owner" is the right move for you.
- Have a 21st-century marketing campaign: Find a broker who is good with a digital camera. If you don`t have a great set of pictures, buyers will think that means you don`t have a great house. But don`t neglect the traditional advertising channels. Though the Internet might be great for young professionals, there are a few people who still read the newspaper.
- Time your sale to bonus season: In New York, traders and investment bankers get massive bonuses around Christmas. They start looking for properties in November and December, but January is when activity really picks up, especially for high-end properties. If you live outside New York, check with your broker to see if any similar periods exist. Extra foot traffic at the open house is always a good thing.
- Understand your market: It doesn`t matter what your neighbor got a year ago when he sold his condo. And it doesn`t matter what your friend across town received last week. Prices and market conditions vary depending on the time, location and condition of your home.
- Do your research: Talk to several brokers before putting out a "for sale" sign. They will educate you about the market and give you a potential asking price. They may also suggest you put in a few thousand dollars worth of improvements. If you put your house on the market before you`re ready, you`ll only alienate prospective buyers.
