Tuesday, May 12, 2009

Selling Your House? Some tips for you!

Today's market is very competitive; although we in Acadiana are fortunate in having high employment and strong home sales, the market has changed in recent months. So being aware of what you're marketing and how it should be marketed is even more important than ever.

Even though there's more room for negotiation these days, and people are being more adamant about getting concessions, homes are selling well. Still, there are some traps you'll want to avoid:
1. Try not to be emotionally attached to your home. While it may be your palace, to others it's yet another home for sale. Be realistic about your house...it may be lovely, it may have great features, but it IS another home for sale.
2. Don't price your home without knowing the competition. Nothing stops a house from being shown more than price. Even the greatest location is no guarantee that your property will sell, if it's over-priced. And bear in mind that appraisers must work with comparables - recent sales within the last six months. If your home is over-priced, it may languish on the market, and give the impression that you're vulnerable to low-ball offers because you must be getting desperate to sell.
3. Check your agent's references. Does he or she have a good track record with pricing and marketing properties? Do you know others who have used this agent successfully? Your home is one of your major assets - put it in the hands of someone who will treat it as such.
4. Don't fail to prep your property! A house with peeling paint, rotten facia, or out of control shrubs is a turn-off to potential buyers. Most buyers these days want move-in condition - they don't even want to paint a room, much less do major repairs. A house which isn't in good condition is vulnerable to low offers.
5. Do NOT be present during showings! Your presence is a turn-off to potential buyers - it makes them uncomfortable to think they're inconveniencing you by looking at their house. Also, your presence makes you open to having to answer questions about the house which would be better left to your agent; even the most innocent comment can send off alarm bells in a buyer's mind, if they interpret it incorrectly. Let them bond with the house by giving them the privacy to spend time there.
6. Don't take the negotiations personally. It's business, pure and simple. Instead of being insulted by a low offer, just make a counter-offer. Never cut off the negotiations. Keep the posibilities open and your home stands a much better chance of selling.

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