GET TOP DOLLAR FOR YOUR HOME
Ten Dynamic Insider Secrets
By:  Wilona Dyson, ABR, CFS, CRS
Broker Associate
“The Voice of Experience”
 
Hi, I am Wilona Dyson, Broker Associate with Keller Williams Realty, The Woodlands, Texas.
 
Since I began my real estate career in 1977, I have listened to buyers express needs and desires that they are hoping to find in a home.  I have studied the market for years to learn why some homes sell more quickly and for higher prices.  I have helped many buyers find their "dream home" and have counseled with hundreds of sellers about the most profitable way to sell their properties.
 
Whether you decide to sell your house yourself or hire a real estate agent, I hope this report will be helpful to you.
 
Warm wishes,
Wilona Dyson, ABR, CFS, CRS
Broker Associate
  I.  CLEAN 

Bright, shining, squeaky clean.  You are competing with new homes and "pride of ownership" resales.  This usually means paint inside or outside or both.  

Make the kitchen and bathrooms sparkle.  Replace the commode seats if they are more than two years old.  Replace the shower curtain.  Make sure no mold or water stains can be seen.  Consider replacing sinks and faucet fixtures if needed.  Shiny clean bathrooms mean more money for the seller and more realistic offers. 

Professional cleaning of carpets and probably a professional cleaning service to "detail" the house.  Clean is number one.  The "white glove" test is worth a lot of money.

II. WELL MAINTAINED  

Almost every buyer has an immense fear of getting into a house which will have expensive repairs soon after they move in.  They look for signs that a home has been "well maintained". 

Repair, replace, fix and investigate to discover if anything has worn out.  Have the furnace, air conditioner and water heater checked.  Have a professional exterminator check for termites and wood ants.  Get rid of termites, roaches, fire ants, rats and mice.  Check for plumbing leaks, rusted or corroded fixtures.  Make sure all light bulbs are working and replace with high wattage bulbs if needed to give more light.  Make sure windows and screens and blinds work properly.  Take a good look at the yard.  Buyers see it first.  Trim, cut, weed, clean out.  Consider planting a few seasonal flowers for color.  Repair or replace the roof if needed.  Check for loose or rotted wood outside and paint outside if necessary. 

Tidy efficient kitchens are at the top of buyer lists.  Consider painting kitchen cabinets.  The effect will be dramatic when old or dark wood is painted white or a bright contemporary color.  New looking kitchen and bathroom floors are a joy most buyers love to behold.

The house must look and smell clean.  Although they may not be aware, most buyers are gratified by the smell of fresh paint.  Repaint the front door with a paint that will hold its’ smell a long time or touch up the front trim regularly.  Your house will have a real advantage over the competition if the prospective buyers can smell fresh paint while standing on the front porch waiting for the Realtor to obtain the keys. 

III. SHOWCASE THE HOUSE

Most of us arrange our homes for comfort and convenience; however, builder’s models are professionally decorated.  “Pretty” houses sell for more money.  Consider having a professional decorator help you “stage” your home for the buying public.  An hour or two of consultation by a reputable professional can result in furniture arrangements, picture placements and some inexpensive ideas to enhance your homes best features.  They will probably suggest that you pack some or most of your “treasures”.  Many of us collect too much clutter, which can be distracting to a buyer and can make the house seem much smaller than it should.  Be especially aware of odors.  Every family gets used to our personal lifestyle.  Dirty clothes, tobacco smoke and particularly pets can kill a sale.  Many times I have heard a buyer say, “I really like the house, but I am afraid I could never get rid of the odor”.  Find ways to make your home smell good.

IV.  KNOW THE MARKET IN YOUR NEIGHBORHOOD 

How fast are houses selling?  How many are on the market?  What is the range of asking prices?  What is the percentage of asking price to sale price?  What is the average time on the market?  How do they compare to your home in age, size and condition? 

V. UNDERSTAND THE LAWS 

There are state, local and national regulations that a seller must know to legally sell a property.  In Texas there are five critical disclosures, which apply to most houses and several others, which may be demanded in certain instances.  These may be obtained from an attorney if you don’t use a Real Estate Broker.  Gather information you will need on your property such as taxes, neighborhood fees, size of the lot, square footage of the house, room sizes, type of siding, type of roof, name of the builder, age of the house.  Be sure to have a brochure, which points out the extra features and enhancements, which you added to make your home special. 

VI.  EXPOSE TO BUYERS 

Find as many ready and able buyers as soon as possible.  Some suggestions to accomplish this are: 

a.  Yard signs

b.  Newspapers

c.  Internet sites

d.  Flyers and brochures

e.  Word of mouth

f.  Free magazines at store racks

g.  Direct mail

h.  The Multiple Listing Service 

VII. BE AWARE OF PROPERTY INSPECTION, APPRAISALS AND SURVEYS  

The buyer will hire a Real Estate home inspector who is licensed by the State of Texas.  He will poke and prod at your home from top to bottom, inside and out, for several hours.  This may hurt.  It will feel like an invasion of your privacy.  He will write a lengthy report of all the bad things or the possibility of future problems he can find.  The buyer will use this to ask for further concessions from you on price and/or repairs. 

The appraiser is hired by the buyer’s mortgage company to make sure the lender is making a safe investment.  He will measure and look over your home.  He then uses square footage, age and condition in order to compare your home to recent sales in the neighborhood.  He makes a formal written report of his “opinion of market value”.

 

VIII.  PREPARE TO BE A NEGOTIATOR 

Most sellers consider negotiating price.  However, repairs, closing costs, dates of possession, items remaining with the house, buyer proof of financing ability, buyer’s right to inspection and appraisals are all part of the “give and take” of the deal.  In order for a real estate contract to be legally binding, it must be in writing and signed by all of the principals.  It must clearly state all the terms to which the buyers and sellers have agreed, and these terms must be legally enforceable by state laws.  The buyers must put down a deposit called earnest money to bind the contract.  The final contract may be twelve to twenty pages of legal language.  Seek professional help if you need to in order to protect your interests and understand all the terms.


IX.  IF YOU HIRE A REAL ESTATE AGENT…  

Here is a list of questions to ask- -  

1. Do you work full-time or part-time as a real estate agent?  Full-time is most desirable. 

2. How many years have you been a real estate agent?  Do you have REALTOR designation, which require education and experience?  Experience and continuing education are desirable attributes. 

3. How well do you know the area(s) I am interested in?  An agent who specializes in the area in which your house is located is preferable.  Definitely interview the agent who has the most “For Sale” signs in your neighborhood. 

4. How much can I expect to pay?  Commissions are negotiable.  You may also be expected to pay certain legal fees and closing costs. 

5. Can you give me a comparative market analysis of recent sales in the area and homes currently on the market?  This will include listing and sales prices for recently sold homes as well as sales prices of homes currently for sale.  It also should include detailed property descriptions.  Ask the agent to compare your house to homes of similar square footage and special features of recent sales.  Discuss the competition of homes on the market for sale, including available new construction. 

6. Can I expect you to explain all points of an offer and negotiate exclusively on my behalf?  Can I expect you to be my advocate and keep my interests in mind?  Will you present all offers to me promptly and make me aware of my options in the process? 

7. If you sell the house yourself or someone from your company sells the house, how will you represent me? 

8.How long is the term of the listing contract?  How can it be terminated? 

9. Where will you get the buyers?  Ask for the marketing plan.  When and where advertising will be placed?  Will it be on the Internet?  Ask for a full explanation of the placement in Multiple Listing Services and how arrangements will be made for showing the house. 

10. Will you give me a written guarantee of my services? 

X. PRICE HIGH 

Put your house in its best condition and price it high within the market range for its size and age.  Be prepared to have to negotiate some, but expect that your home is the best on the market (by this time it is).  It looks and smell better than the others, and it will deserve higher offers.  Your work and expertise and dollars spent will pay off.  You will get TOP DOLLAR.

 

 

 

 

 

Wilona Dyson, ABR, CFS, CRS, Broker Associate
Keller Williams-The Woodlands
1401 Woodlands Parkway, The Woodlands, Texas 77380
Office:  (281) 364-1588 Ext. 4806  or (800) 856-1588 Ext. 4806
Direct:  (281) 364-4806  Evenings:  (281) 367-0108
Each office independently owned and operated
Copyright © 2004 Wilona Dyson

 

         

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