Keith Carroll Real Estate - How to avoid costly selling mistakes

How to avoid costly selling mistakes

Selling by yourself. If you think you will save money, you’re right you may. However, you may lose money. How? Without placing your home on the Multiple Listing Service (MLS), your exposure is limited. Perhaps if it were on the MLS you would get more qualified buyers shopping your home. For Sale By Owner (FSBO’s) generally get people looking for a deal. They may also be looking for financing or other “perks”. How do you know they are qualified to buy? How do you know who is making appointments to “see your home”? Further, without the services of a real estate professional, you are leaving yourself wide open for future legal problems that may arise if ALL the I’s were not dotted and T’s crossed. If you do sell by yourself, it is strongly advised to use an attorney to represent your needs. Agents do far more work for you than you may realize including keeping you out of hot water!

Financing - If you can be creative in your financing terms, you may appeal to more buyers. You can offer to pay points (which is deductible for most people-check with your CPA), carrying a second, or seller financing. Provide decorator allowance, or other irresistible buyer incentives.

Leave the home when it is being shown. It is far better if you are not home when your home is being shown, Leave the lights on, soft music, fans on or windows open when practical, and leave the home in model condition. When agents show the home, please keep the business cards so we can pick them up and follow up and get back to you with feedback.

Curb appeal. Start packing right away! Remove all the clutter you possibly can. Remove pictures, extra furniture, and nick knacks. Have you ever seen a model home with clutter? Paint when needed. If new carpeting is needed, put it in! You would be surprised at how spending a little extra money can get you additional thousands of dollars and a quicker sale. The home that appears to be clean and ready to move in without doing a lot of work is going to sell much faster than one that has marred walls, and looks small and cluttered by “stuff”. Don’t forget the lawns, fresh flowers out front; whatever will enhance your homes “sizzle”.

Recouping Costs.
Remodeling Magazine calculated national averages of the percentage of cost spent on renovations that was regained when a house was sold.
"The least-expensive and the biggest return is in paint, carpet and general cosmetics."

Add bathroom, mid-range
Two -Story addition
Bathroom remodel, upscale
Bathroom remolded, midrange
Add bathroom, upscale
Kitchen remodel, upscale
Basement remodel
Family-room addition
Siding replacement
New window, upscale
Master suite, midrange
New window, midrange
Kitchen remodel, midrange
Roof replacement

94%
94%
91%
88%
81%
80%
79%
79%
79%
77%
75%
74%
67%
67%

Don’t over improve. Adding too much to a home to help it sell may not get you the top dollar. If you over improve your home, it may still be surrounded by lesser quality homes, and therefore will bring the price down. You may not be able to re-coupe the extra you put into it.

As is Condition. Most buyers do not want to consider an “as is” home. That type of sale will attract people looking for a deal, and they will undercut your price even further. It’s better to put in a little elbow grease. Clean, paint, clean or replace carpets, de-clutter, sprucing up adds that sizzle and gets more money and a quicker sale than having an “as is” mentality.

Check out Looking Through the Buyers Eyes for a check list to follow.

Price. As your agent we will compile a comparative market analysis, we can give you professional honest assessment for the market value of your home. If you overprice your home, the longer your home will be on the market, the more “aged” it becomes, and the less interest you will get. It becomes a point of diminishing returns. As professionals we also realize you have an attachment to your home. So be honest with yourself how your home compares to the competition.

These are but a few facts about selling your home. We want to work with sellers, and get them the best price we can get in the least amount of time. You want to work with professionals who will be honest with you and have your best interests at heart.

We assure you we will do everything in our power to earn your business and subsequent referrals. If you have any questions please call or drop us an e-mail to keith@keithcarrollrealestate.com

Looking Through the Buyer's Eyes

Below are questions to ask yourself when preparing your home for sale to ensure it looks the best it possibly can in the buyer's eyes:

Exterior
Does your yard look well maintained?
Are the trees and bushes trimmed?
Is your lawn mowed and edged?
Is your lawn free of weeds?
Are the decks and patios clean?
Does your house need painting?
Are there any exterior holes or cracks?
Are your walks and porches clean and in good repair?
Does your roof leak or sag?
Are any shingles or tiles missing?
Is your chimney in good shape?

Interior
Carpeting/Walls/Ceilings
Are your carpets clean and in good condition?
Do your carpets need stretching?
Are there any pet or smoking odors?
Do your walls have any cracks or holes?
Do your walls need painting?
What about that wallpaper?
Do your ceilings have any water stains, cracks or peeling?
Do your ceilings need painting?

Kitchen
Are your appliances clean and in good working order?
Are your cabinets in good condition?
Are your countertops in good condition?
Is your tile grout clean?
Is your sink stained, chipped, or in need or re-calking?

Bathroom
Do your faucets shut off completely?
Do your sinks drain freely?
Are your toilets in good condition?
Are your shower doors shiny?
Do your tubs need caulking?
Is your floor in good condition?
Are your vanities and mirrors in good condition?

Living Room
Is your fireplace clean?
Is the fireplace screen in good shape?
Are all drapes, shutters and shades clean and working properly?
Are any window screens bent?
Do all the windows open and close easily?
Are the windowsills clean?
Are your doors in good condition?
Do any doors sag or stick?
Do the locks work?
Is the paint in good condition?
Do the doors seal tightly?

Basement/Attic
Is your basement/attic organized?
Are they well lit?
Are they clean?
Are the stairs in good repair?
Do the doors open and close easily?
Are there any signs of insects or rodents?

Garage
Is your garage organized?
Is it well lit?
Is the floor swept?
Are there oil spots or other stains on the concrete?

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