20 Need-To-Know Tips To For Sellers

Selling your home, often your largest asset, can seem like a daunting task. The goal of each seller is to get their home sold in their desired time frame for the most money possible. Below are 20 tidbits of information that will prove useful when you sell your home. Count on Bryan Sletten, The House Whisperer, to help put your property in the best light possible for prospective buyers and ease your mind throughout the selling process.

1. Determine Your Desired Moving Time Frame. Do you need to move quickly? Do you want more time to prepare your move? Being honest with yourself about your situation and what your time frame is will help you make additional decisions along the selling process.

2. Do Not Disclose Why You Are Moving. Most people will think it is a great idea to tell prospective buyers why you are moving. In some situations it may be beneficial later in the process, but don't put yourself in a place of negotiation disadvantage by disclosing what your motivation is for selling. When asked, simply reply, "My housing needs have changed."

3. Set a realistic price. Pricing your home above the market value is a sure-fire way to ensure the "For Sale" sign in your yard will have a long, prosperous future there. This point is so essential, that I will even refer you to Common Myths About Selling Your Home, which reiterates the importance of pricing your home competitively.

4. Shop Around. If you want a better understanding of what you are up against when selling your home, shop the competition! Take the time to look online at houses for sale in your community. Visit open houses in your area. Be sure your listing price is not higher than the others in your neighborhood.

5. Pick the Right Realtor. All Realtors are NOT created equally. First, rule out the Realtors that consider real estate a hobby. You want someone who lives, eats, and breathes real estate. Don't be afraid to ask them questions about their experience, their plan to get your home sold, and to even contact their past clients. Another way to learn more about your Realtor of choice is to ask others in the real state profession about them. Are they well known; do they have an outstanding reputation within the industry? You need to choose someone you can work with, a personality you can foresee speaking with weekly for the upcoming months.

6. Be Ready To Negotiate. Know that many buyers will ask for seller's help with closing costs, repairs and other transaction expenses. If possible to give yourself a little buffer when pricing your home to accommodate these things, do so. Make sure you don't over-inflate the price of your home however as you will inadvertently remove your home from the list of those that sell!

7. You Only Have 15 Seconds. Making an outstanding first impression is absolutely essential when a perspective buyer considers your home. From the moment you list your home, it must be ready at ANYTIME for a buyer to walk through. Take care of the painting, landscaping, and obvious repairs before listing your home.

8. Ask for Back-Up. Most Realtors work within a brokerage of other Realtors that can offer their advice and impression of your home. Often times by reviewing feedback from a number of other Realtors, you can implement a number of their suggestions without spending additional money. The feedback will also give you a realistic view of the list price of your home and you will learn quickly whether you are priced appropriately or not.

9. De-Clutter. 9 out of 10 prospective buyers can't visualize what your home would be like if it was theirs. When your home is filled with photos, personalized items, toys or other nick-knacks you are limiting your appeal. Remove the clutter, remove the unnecessary furniture, pack up your collections and personalized items. Give the buyers enough "breathing room" while in your home to try and envision their furniture and belongings.

10. Hire A Stager. A home stager is a professional that will come into your home and help you to see from a decorator's viewpoint. Often times they can point out changes you can make without breaking the bank that will make a world of difference. Rearranging furniture, changing decor around, pointing out things that you overlook in your home due to your obvious familiarity to it. Some stagers have their own stock of furnishings and decor that can be rented to enhance your home's presentation if you need as well. Bryan Sletten offers a free, no obligation Pre-Listing Consult that incorporates many steps of a professional stager as part of his services.

11. Fess Up. When it comes to Seller's Disclosures, don't skimp. Disclose everything about your home, whether you think it is relevant or not. In Minnesota, a seller is required to complete a Seller's Disclosure, providing pertinent information to prospective buyers (*in some cases, Seller's Disclosure Alternatives can be used). The best practice here is to provide more information that you can ever think would be necessary. Don't hide material facts, don't provide false information, don't omit ANYTHING that you have learned about the home. We like to use the term, 'CYA - Cover Your Assets' when we discuss the importance of full disclosure and encourage you to take the time needed to fill out the disclosures properly.

12. House versus Home. Remember when it comes to negotiating the sale terms after receiving an offer on your home, to remove your emotions from the equation. Go into negotiations looking at the physical house, not the emotional home. Selling your house is a business transaction, and treating it as such will help you be more effective in negotiations.

13. Know Your Buyer. Learn as much as you can about the buyer/s of your house. By knowing their motivation, situation and what "sold" them on your house, you will put yourself in a better negotiating position. Is there one certain item that may make-or-break the deal for them? The more information you have about the buyer and why they chose your house, the better the chances of coming together in a successful agreement.

14. Don't Buy Until Your Current House Sells. Many sellers will put themselves in a bind by finding the home they want to purchase before finding a buyer for their current house. Most sellers are not in a position to qualify for, carry and sustain two mortgages, so don't go looking at homes until you have your current house sold. Unless you are working under a "Guaranteed Sale Program", which Bryan Sletten does offer as an option, you could just be setting yourself up for heart-ache or put yourself in a very bad negotiating situation by getting your heart set on a home without your current house being sold.

15. Keep Your Home 'Lived In' Until Sold. Statistics show that an empty house is less appealing to buyers. If possible, live in the house until it is sold. If you need to move out before the house is sold, i highly recommend hiring a stager that can provide furnishings to keep your home feeling inviting. There are also options of a placing a 'Home Manager' in the house to care for and keep your house in top selling shape in the case an early move out on your part is necessary.

16. Offers - Don't Take It Personally. Today's real estate environment encourages buyers to look for a great deal. If you receive a low-ball offer, don't be insulted. Look at the entire offer, whether the buyer is solidly qualified, the proposed closing date, is the buyer asking for seller paid closing costs, etc. You will have the option to counter-offer any/all terms in the offer so be sure to keep an open mind when you receive an offer.

17. Is Your Buyer Qualified. Before you entertain any offer, the most important step is to make sure your buyer is actually qualified to purchase the house. Any offers should be submitted with a pre-approval letter from a reputable mortgage company or bank. A pre-approval letter will need further follow up as a pre-qualification letter is worlds different than a pre-approval letter.

18. Dot Your I's and Cross Your T's. When you are accepting an offer on your home, set aside the time needed so that you fully understand all the terms of that agreement. If there are contingencies included in the offer, such as an inspection contingency, be sure to pay close attention to those timeliness. It is an important piece of the transaction to be able to meet the terms of the agreement within all specified time frames.

19. Personal Property. Make sure you have a clear distinction between what is personal property and what is included in the sale of the house. As a general rule in Minnesota, items that are attached to the home are included in the sale, but things that can be moved by simply unplugging them are considered personal property. Things like garage heaters, appliances and the window treatments adorning the curtain rods should all be addressed to ensure that the buyers and sellers are on the same page.

20. Get It All In Writing. Once you have agreed upon the sale terms with your buyer, make sure that it is all in writing within the purchase agreement. Verbal agreements or modifications to the terms to the purchase agreement may result in negative consequences or even failure to close the sale. If the buyer requests that the purchase agreement be changed or amended after you have already executed the purchase agreement, consider whether agreeing or not agreeing to the modifications can impact the buyers willingness to close on the home. You may have to stick to your guns, or learn to be flexible in the case of requests that wouldn't be detrimental to you as the seller.

If you are considering selling your house, I encourage you to request a free, no-obligation Pre-Listing Consultation. If you are ready to sell, ask me for a Free Home Valuation. Selling your house is a big deal, so understandably, you should have questions. Please feel free to contact me today with any questions you may have, let me take the worry and stress out of the equation for you.