Ten Tips for Home Sellers

  1. Besides spring, the best time to put your house on the market if you plan on buying another home is when interest rates are low. Low rates benefit both buyers and sellers, and you’ll be both.
  2. Consider selling your home yourself. You could reduce the cost of selling your home up to up to 6% of the selling price. You’ll need good marketing skills and the time it takes to market your own house. There are over 200 private organizations across the country that offer assistance for self-sellers, including magazines, radio and TV advertising, private computerized listings and other selling tools such as for sale signs and how-to videotapes.
  3. If you decide to sell your home on your own, keep in mind that it’ll probably take longer than if you’re using a real estate agent. Especially in a buyers’ market. When there are more sellers than buyers, real estate agents have the advantage with things like the multiple listing when it comes to getting their homes in front of buyers.
  4. If you decide to use an agent, be sure to look for a “seller’s agent.” Make sure they’re familiar with your neighborhood.
  5. Before deciding on an agent, ask how many homes they’ve sold in the past year and how many homes were in your neighborhood. And, ask to see a comprehensive market analysis and have them explain in detail how they’re going to market your home. It’s important to know your seller is working to earn their commission.
  6. When you hire an agent, you’ll sign a listing agreement. Commit to no more than three months. If the agent’s doing a good job for you and you’re happy with how things are going, then you can always renew. If not, then you’re free to pursue another agent.
  7. Get your house in shape. Got clutter? Get rid of it. Need painting? Use neutral colors. Consider updating if your house is really outdated. Make your home as appealing as can be to buyers.
  8. Consider an incentive to buyers. For Instance, offer to pay closing costs or points.
  9. Understand the home selling process and learn about negotiating. Knowing as much as you can could save you thousands of dollars.
  10. Be realistic. About your asking price, the time it takes to sell a house, the process and the market. If you go in thinking it will take only a week and you’ll get exactly your asking price, you’ll most likely be disappointed. Be real and you’ll have a much better experience.