Now that you have properly priced your home and prepared it for showing, you are finally ready to put it on the market and find out if all of your hard work – and that of your real estate agent – has paid off. But while it may seem like all you need to do is simply list your home and then schedule an open house to attract buyers, there are a few key skills you and/or your agent should still be working on in order to maximize your offers. Coldwell Banker Premier Realty is truly an expert in this field and has provided the following tips on what else you need to do before putting your home on the market…
1) Get Your Own Inspection & Appraisal – This goes hand-in-hand with “Think like the Buyer” from our previous blog in that you should do everything possible to prepare for the worst-case scenario when it comes to putting your home on the market. Do not just sell your home “as-is” without knowing what could potentially be wrong with it structurally or otherwise. While the buyer often takes care of the inspection and appraisal, you should definitely consider doing both up front on your own as well so that you do not get blindsided by any problems the buyer may present at a later time that you are not already aware of. You can even ask the buyer to pay for reimbursement of the inspection and appraisal in the contract as part of the final deal, and getting them done well in advance not only proves you are a proactive and knowledgeable seller but also shows you are honest and have nothing to hide. Keep in mind, while the buyer will still have to get an appraisal, at least you know what your home is worth before negotiations begin.
2) Learn Negotiating Skills – Another valuable thing to know prior to putting your home on the market is how to negotiate between what a potential buyer offers and the asking price. Your agent should be able to guide you through different scenarios regarding negotiations, including how to approach multiple offers to ensure you are getting the best deal possible. Some offers may seem too good to be true because they are, so it is very important to keep your options open and use the market along with your own research to your advantage.
3) Market Your Home – Some marketing should obviously be done when you are first preparing your home to be shown to get a head start on the competition, but you can expect to do the rest right before you decide to put your home on the market. Make sure your home is listed as many places as possible, including websites like MLS.com, Realtor.com and Zillow.com, and try to search for it yourself so you know exactly how prospective buyers will find it online.
4) Show Your Home – Scheduling an open house the right way could be the difference in whether or not you get your asking price. Cover all the bases in preparing to show your home and then work with your agent to pick the best day(s) and time(s) when you will get the most quality views. Remember, you may only get one opportunity to sell to the right buyer, so do not blow this chance.
5) Do Your Own Due Diligence – Do not count on anybody but yourself and your agent to get a deal done and know that nothing is finalized until you have the signed paperwork to prove it. You may want to jump the gun on accepting one particular offer and communicate to others that your home has already been sold without getting anything in writing from the buyer first. That would be a big mistake because if the one offer falls through and other potential buyers move on, you could cost yourself the next best deal. Again, some offers are too good to be true, which is why your own due diligence is critical to closing the right deal.