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The 3 D's of Selling - De-Personalize, De-Odorize & De-Clutter
The 3 D's of Selling - De-Personalize, De-Odorize & De-Clutter
Create that Positive and Powerful First Impression
Create that Positive and Powerful First Impression - Part 2
We Have Gotten A Buyer To Come Take A Closer Look - Now What?
Create that Positive and Powerful First Impression
Some Cause and Effects of different pricing theories
What you should know about Real Estate Commissions.
Explore the options. Is FSBO for you?
 
Information Specifically For Home Buyers  
Getting Ready To Buy YOur 1st Home?  Here Is How To Get Started  
Detailed Information About Financing A Home and Financial Calculators  
Helpful Forms, Free Reports, Links To Free Internet Information  
Who Is Mark Swiss and Where Do I Know Him From  

Sellers Must Think Logically Not Emotionally
A very important aspect of selling your home is to consistently think straight, to separate fact from emotion. You are preparing to move from a property that has been your family’s home, a place that has many fond memories. It seems that you always remember the good things and how great the property served that time in your life. The not-so-good things tend to get lost in the heap. These fond memories may be worth a million dollars to you but they do not affect the property’s value - the good news is, they go with you.

The Bottom Line Theory
When selling a home, your goal is achieving the best bottom line figure. A popular theory is that the property will sell for whatever amount it happens to sell for; in other words, all things are equal. Using the theory, if the seller can reduce expenses, the profit (the bottom line) will increase.

This theory thrives because no one knows in advance what the property is going to sell for, (what the buyer is going to perceive as the lowest price s/he can offer that you will accept.) If that figure is 20% higher than the average comparable price, that (according to this theory) is what the property was meant to sell for. If that figure is 20% lower than the average comparable price, that also is what the property was apparently meant to sell for.

The truth is: all things are not equal. The price that a property sells for is not a predetermined figure, placed in an envelope, sealed in mayonnaise jar and hidden under someone's porch and brought out when a buyer says "I'm interested". It is a very fluid element and can fluctuate wildly. It is all based on the buyer's perception and contrary to the bottom line theory, there are many things that influence the buyer's perception.

The topics presented in this section of the web site present tips on helping your property show well; this affects buyer perception. Furthermore, your property should be in presentation order before it goes on the market. There are three primary components in the process of selling a property and all three span the entire life-cycle of the transaction - from listing agreement through settlement.

  1. Physical condition and appearance: Maintaining the physical condition and appearance of the property is a total commitment and This is the sellers' primary responsibility. A staged home may not be a comfortable home to live in but it is a comfortable home to sell. Hopefully, it will sell quickly and ease the staging effort.
  2. Presentation: The presentation of the property is the manner in which the property attracts potential buyers. Does the property stand-out in the crowd so that all potential buyers will be aware it is on the market and able to see it in the comfort of their own home. Is the presentation appealing? Does it show value? Does it convey an urgency that the buyers schedule a showing now, while it is still available? Beyond having the property in presentation order, this is the responsibility of the real estate professional.
  3. Representation: The person who represents you and your property will be a key determine where, in the comparable value range, the offers will fall. That person must have superb physical condition, appearance and presentation as a negotiating tool to strengthen the buyer's perception and justify a competitive bid. This is the top of the pyramid that can produce a price variance of 20 to 30%, or more. This is the responsibility of the real estate professional and where the efforts of a professional agent more than pays for itself.

 

 

Shopping For Value
So, you can see how the right Realtor can be a true asset to your real estate transaction. Now the question is, "how do you choose the right Realtor"? A problem is that we all tend to shop price. Upon examination, you will find that low price usually diminishes the value of what you receive. The price of a discount service seems attractive until you realize that all you may get is a sign on your lawn and a generic MLS listing. Agents are taught to strive to get listing so they can relax and let the other (buyers) agents do all the work to sell the house. Many agent take that statement literally and don't do a thing after the sign is installed. That is not value; that is inferior service. If that is all the effort that you receive in the presentation of your home, how good do you think it will be when it comes to representing your best interests? You must shop value. Inferior work can wind up leaving your home unsold on the market or even worse, costing you tens of thousands of dollars.

So, you can see how the right Realtor can be a true asset to your real estate transaction. Now the question is, "how do you choose the right Realtor"? We all tend to shop price. We soon find that low price often diminishes the value that we receive. The price of discount services seem attractive but when all you get is a sign on your lawn and a generic MLS listing, that is not value. That is just inferior service; and that is just on the presentation component. How do you think the service will be when it comes to the representation component? You must shop value. Inferior work can wind up leaving your home unsold on the market or even worse, costing you tens of thousands of dollars.

How do you shop value? Ask specific questions about what services will be provided? How recognized is the Brokerage? How recognized is the individual REALTOR in the local real estate community? Is the agent a full-time REALTOR? When does the agent accept phone calls? How the property will be marketed? How can the listing agreement be terminated with reasonable notice? ASK FOR REFERENCES.

Straight Talk About Selling Your Home
Buyers are looking for a property that will serve them well in their next stage of life. They are looking for quality and value. They look for a property based on the number of bedrooms, number of bathrooms, type of floor plan, size of rooms, etc. etc.. If buyers come to see your property it is because they believe it may meet their needs. If it does, your property then enters a competition with the other homes that also meet their needs. How will your property compare to other homes on their list? A better question is, how can your property standout from the competition?

A sparkling and well maintained property may create a spark of emotion in the buyer – a spark that says, “this can be a great house for us.” Yes, there is emotion. Buying a home is a very emotional decision that feeds on the buyer’s hopes and dreams. However, as a seller, you need to remove emotion from the equation and think logically.

In preparing to sell a property, you want potential buyers see all it’s features and to help them visualize your property as their next home. Tips on doing just that are covered in the next topic The 3Ds of Selling A Property.

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