Wednesday, March 11, 2015

Your Guide to Selling Your Home

Guide to Selling a Home:

You are thinking it may be time to move either to a larger home, a smaller home or to a new location. This means you will also need to sell your current home; yet, you are unsure of how to proceed. So, here is your recommended list to review as you prepare to sell a property.

1. First of all, I recommend that you do your due diligence to determine if you are financially in a position to achieve your goal of moving, making sure you can afford the type of home you are seeking. Every year I encounter clients that want to move yet, after a thorough review of their finances with a loan officer or mortgage lender, they find out that they are better staying put. Once you know what your options truly are, we can then take the next steps to help you get on your way.

2. Once we have your monthly budget, we can start the ball rolling with looking at homes that you are interested in and can also afford, so that we can get a level of comfort with the goal of moving forward.

If you have already met with a loan officer, then using a mortgage calculator can also help you understand what your monthly budget can afford.

3. If you are ready to pass “GO” on your own personal Monopoly board of real estate—having verified that you are a position to know that selling your current property is our next step, here are some recommendations to we should utilize to maximize the value of your current property and to help us sell it with in the least number of days, thereby reducing the stresses of keeping the property in “mint” condition for potential showings beyond a reasonable time frame.
a. Property condition-Interior is a key factor in what a property will eventually sell for once being put on the market.
i. You should conduct an aesthetic evaluation of the interior (with Realtor and/or stager) to get the best possible advice as to how to present the property in the best light and condition.

ii. You may, especially if the house has been lived in a long time, want to bring in a home inspector to conduct a cursory interior and exterior inspection that would help to identify any structural, environment or other problems that would potentially work against you getting the most $ for the property. I can’t tell you how frequently such an inspection turns up a pressing safety issue that needs to be addressed immediately for your own protection. When this idea is fully supported by the client, we can then feature the home as a “certified,” which helps enhance the value of the property.

b. Exterior conditions are also paramount. The home that has peeling exterior paint not only lessens the price an interested buyer might be willing to pay but, also will traditionally curtail the number of buyers that would otherwise be interested in looking at the property.
i. Your Realtor should walk the exterior of the property with you to look for signs of wear and tear and look to make the necessary repairs to enhance the appearance. There is nothing like a fresh coat of paint to dress up the home.

ii. Also, take landscaping and sidewalks into consideration as these items affect both the appearance and, in the case of sidewalks, unsafe trip hazards that you will want to alleviate immediately.

4. Pre-Marketing the Home:

a. The most critical component to selling a home is to make sure it is priced where its true market value would be found in the marketplace. Over-pricing a home can cost you so much more than you will ever know in terms of a final net price. In fact, Jeffrey Otteau (Otteau Valuation Group is one of NJ’s largest and well-known appraisal companies) advises that for every $10,000 you over price a home at the start, you can expect to receive $3,500 less than you should have achieved if you priced the home correctly at the start. Getting a CMA or an ACMA (www.advancedcma.com) is highly recommended to determine the market value for the property in question.

b. Staging a home may also be a factor in extracting the most value for your home. You may have lovely period furniture and decorating tastes, but you need to keep in mind that once you are selling your property, it is best to market the home in the spirit and design aesthetics that today’s buyers are “trained” to look for relative to their taste levels. So, if your home looks like the palace of Versailles rather than a West Elm/Renovation Hardware catalog, you may want to consider trading out some of your furnishings to create the “Broadway Stage Set” that will appeal to the most buyers, because the more buyers interested the higher the eventual price paid will be! Even if your home has current styling, you also want to make sure that each room has a singular use identity and that the density of the furniture doesn’t overwhelm the space.

5. Marketing the Home:
a. Marketing your home to the MAX means finding the right agent that knows how to ”speak” to as many buyers as possible. It’s simple Economics 101, the more buyers that see your home online, the more buyers that will see your home in person, which should translate into the highest price paid.

i. You will want the maximum number of photos allowed on each site (you can add to many of the syndicated sites beyond what an MLS may limit you too).
ii. You will probably prefer an agent with Priorty on syndicated sites as your listing will get more bang for its buck due to the spend of your agent.
iii. You should make sure you have a true video rather than a regurgitation of the pics already online being displaced as a slide show.
iv. There are many more ways an agent can maximize your exposure. Please feel free to check out www.sladesells.com to see how my client’s listings get MAXIMUM exposure and how we usually sell for more $ and in less time than the typical agent.
6. Managing the Project. I so often advise my clients that selling or buying a home is like an iceberg, you only see 10% of what is really entailed and necessary in managing the project and getting both parties to the closing table. So, make sure your agent is prepared and experienced at managing the process.
7. The final stage of selling your home is the handing over of the keys. This means you have accomplished your goal and now have the satisfaction (and relief in some cases) that comes with being able to MOVE forward with your life.

Mark Slade
Keller Williams
Good Homes

Selling a Maplewood/South Orange/Millburn/Short Hills area home involves many steps and having an experienced Maplewood New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield--by your side will make the transaction run a lot smoother. I would love to be your Maplewood/South Orange New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate.

As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers

As your Maplewood/South Orange/Millburn/Short Hills/Essex/Union County New Jersey listing agent I am well versed on as your local expert in all things in the Maplewood and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority.

Mark Slade

No comments:

Post a Comment