MARKET PREPARATION GUIDE
INFORMATION EVERY SELLER SHOULD KNOW BEFORE PUTTING THEIR HOME
ON THE MARKET!
You never get a second chance at a first impression!
It is important to make certain that the first impression
is a favorable one. That's the purpose behind this Market Preparation
Guide: it's simply "Advice to help your home sell quickly".
If you have ever been in model homes, you know how
good they look. The thought might have even crossed your mind that you'd
like to have not only the home but all the furniture, the pictures,
the flower arrangements, and even the knick-knacks on the shelves.
There are some individuals who really know how to
make a home look its best without spending a lot of money. There are
things that can be done to give it that "model home" look so prospective
buyers will want it and everything else in the house that you're willing
to sell.
When homes have this kind of appeal, they sell quickly
and usually for the highest price possible. Another interesting characteristic
of homes that look this good is that usually the transaction is remarkably
free of problems.
What more could you want than to get your home sold
for top dollar in short order without any hassles? If you'll read through
this brochure and use some of the suggestions before you put the property
on the market, you'll be on your way to one of these successful sales.
One word of warning though...don't wait to see if
the house will sell first before implementing these ideas. Once you
do decide to do something, don't do just the easy ones or just the bare
minimum.
The property needs to look good from the street,
up the sidewalk, on the front porch, throughout the house, in the darkest
closets, and even in the attic. You definitely want to give the impression
of a well cared for home.
You want the prospective buyer to feel that this
home is quality all the way through, not just on the surface.
You'll never have more activity on the home than
you will in the first three to four weeks of the listing. The reason
is simple: there are buyers out there who have seen everything available
and for one reason or another, haven't bought. They are just waiting
for something new to come on the market.
Agents are just as anxious. When that new property
does hit the market, buyers and agents both will scramble to look at
it. It is common knowledge that the property will usually sell for the
highest price during this time. After the initial surge of interest,
the only people to look at it will be those buyers new to the marketplace.
Besides all of the reasons listed above, competition
is fierce. Don't be naive with every other home that is currently for
sale: new and pre-owned, your area and other areas, those listed with
agents and those trying to sell themselves. You are even competing with
the foreclosures in the market.
Homes have proven to be one of the best investments
for individuals. They have outpaced inflation and in many cases, had
exceptional rates of return. Experienced investors who have rented out
a property for long periods of time, know that to get the highest price
for the property, the property has to look good.
You have to appeal to owner occupants who will pay
the highest price for the property because they are going to live there.
Typical buyers put all of their savings into the
down payment and closing costs and don't have anything left over to
improve the home such as replacing the shag carpet. Those buyers will
just have to live with that carpet until they can afford to replace
it.
If buyers have a choice of two comparable properties
similar in price, they'll choose the one in the best condition. Just
as on the other hand, if two properties are similar in condition, the
buyers will choose the one that is less money.
Drive - up Appeal
One of the frustrations a professional agent has
to deal with is after having made an appointment on a home that will
meet the buyer's requirements, driving up in front of the home and having
the buyer say, "We don't want to look at this. We don't like the looks
of the front."
It takes a lot to overcome a statement like that,
so the first place we're going to start is with the front of the house.
Stand at the street and look at the house. If all you can see are trees
and shrubs, you have some yard work to do.
Landscaping is to enhance the home, not hide it.
One of the easiest things to do is trim the shrubs that are overgrown.
They should be lowered to a height near the bottom of the windows. If
there is ivy growing on the side of the home, get it off.
If there are branches hanging low in the yard, you'll
need to prune them. A simple rule of thumb is to have all the limbs
high enough so that you can walk under the tree. 3
The next thing on the list is to clean out the flower
beds and make them look good. This means getting all the weeds out and
having a distinct border between the beds and the yard.
Everyone dreams of a "Home & Garden" type home
with flowers in the beds. Why don't you invest in a few flats of flowers
such as petunias or periwinkles that will last the entire growing season
and will add color and beauty to the front of your home?
You might even consider putting some nice looking
flower pots on the porch with some red geraniums or some other blooming
plants in them.
Next, take a look at the front door and the area
around it. If you paint nothing else, at least give it a fresh coat
of paint.
If the doorbell is broken, replace it. Wash the
mail box. Keep the porch swept. Get an attractive mat for people to
wipe their feet.
The Absolute Basics
Start by airing out the home. You are the last person
to notice any peculiar odor in your home that may be blatantly obvious
to visitors. Go on a search to find the offender. It may be a kitty
litter box or a dog bed. It might even be a mildewed shower.
Next, wash all the windows in the house, inside
and out. While you're at it, clean the window sills and the bottom of
the window jambs, and wash the blinds.
If it has been over a year since you've had the
carpets cleaned, now is the time to do it. The bare floors should also
be waxed or polished, even if they're supposed to be "no wax."
Put bright light bulbs in every socket made for
a bulb. Buyers like bright and cheery so you have to keep it from looking
like a dungeon. You'll also want to keep the drapes and shades open
during the day, even if you're not in the habit, because it will make
the property look better.
The next item on the required list is to clean out
all of the closets, cabinets, and drawers. Get rid of things you haven't
used in the past five years and pack up everything that you haven't
used in the last year.
Do it without conscience or remorse. You're going
to have to do it anyway when you move. The main reason is that it will
make the storage space look larger. Surely, you don't want to pay a
mover to haul things that you never use.
Closets should look as they have enough room to
hold additional items. You might need to box up off-season clothes to
make it look that way. Get everything off the floor and don't have the
shelves piled to the ceiling.
Another basic requirement for home preparation is
to be sure there is not too much furniture in a room. Even though it
may be inconvenient, you will be far better off by selecting the pieces
that look best and putting the others in the garage, basement, or better
yet, in storage. You can rent one of those mini-warehouses for a few
dollars a month.
You need to go over the kitchen like a health inspector.
Clean the oven and keep it that way, even if it means eating out more
often. After cleaning the range, put new drip pans under the burners,
or at least, cover the old ones with foil. Clean around the seal of
the door to the dishwasher.
Bath tubs, showers and sinks should be freshly caulked.
All the grout should be clean and in good condition. There are excellent
cleaners that will do the job without tons of scrubbing. There should
be no leaks in the faucets or traps.
Put fresh towels out in the bathrooms and replace
the shower curtain if needed.
A few unrelated suggestions
If you have limited counter space in the kitchen,
be sure to keep unnecessary items put away.
Keep children's toys out of the front yard and off
the sidewalks and front porch. Get the teenagers and children to understand
the importance of keeping the house looking good while it is on the
market. Take down the posters until the house is sold.
Recognize the difference between decorator touches
and clutter or sterility.
Clean the ashes out of the fireplace during the
season that it isn't being used.
Keep the television turned off while the home is
being shown.
Make sure that the pull-down staircase is screwed
together and strong enough to be used safely. Be sure there is a light
in the attic.
If you don't have time for a garage sale, consider
donating things to charity. Make a list of all the items and their estimated
value, and be sure to get a receipt. The donation is tax deductible
and may be worth more to you than the time and effort you'd put into
a garage sale.
The pool needs to be sparkling and free of leaves.
Don't volunteer information to prospective buyers.
If they ask you a question, answer it truthfully.
Tell your friends that your home is for sale. You
never know where the buyer will come from.
For those willing to go the extra mile
There are some things you can do that will really
add flair to your home. They might include changing out the wallpaper
in the entry, kitchen, or bathrooms. It might be replacing light fixtures
that are dated or just ugly.
Some enterprising homeowners will completely paint
inside and put all new floor coverings down. Others might add new window
treatments.
Ceiling fans are not only fashionable but they are
also very practical. The price on them has come way down. You can put
four or five fans in today for what one fan cost several years ago.
New appliances in the kitchen can be an exciting
feature that can actually make the difference in a prospect choosing
your home over another.
Don't fall into the trap that most people do when
trying to figure out how much it will cost to replace an item. The most
common price reference guide in America is the Sears catalogue. As your
agent, We can recommend vendors and contractors that will usually cost
much less.
It's Show time
Someone has just called to show the house and now
all the hard work you've done to make it look good is about to pay off.
You just need a few last minute touches.
When the agent arrives with the prospects, have
the drapes and window shades open to let in as much daylight as possible.
If it happens to be night, be sure that all of your outdoor lights are
on, especially landscape and pool lights if you have them.
Open all the doors between rooms to give an inviting
feeling. Turn on all of the lights including the lamps. Tune the radio
to some quiet, "elevator-style" music.
Pick up any newspapers or magazines that may be
lying around. See that the counters are free 6
of unnecessary items and that any dirty dishes are
put in the dishwasher. Take out the trash if needed.
If you have pets, get them out of the way. Not everyone
may share your love for animals. Some people may even be allergic to
them.
The beds should be made and clothes picked up. Bathrooms
should be clean and the toilet lid down.
When you leave the house in the morning or during
the day, please leave it as if you know it is going to be shown. It's
difficult sometimes and might even mean you have to get up a little
earlier in order to take care of these important items. You never know
when the right person is going to look at it, so you must always be
ready for them.
Pre-contract Professional Inspection
Another time saving suggestion is to order an inspection
of your home by a professional inspector. This would typically be the
responsibility of the buyer and done after you have successfully negotiated
a contract.
The benefit of doing it now is to find out early
if there is anything that needs attention. It can save time between
contract and settlement if the inspector does find something you are
not aware of. You will have time to get a second opinion and find a
reputable and reasonable contractor to make the repairs.
One more advantage is that if the buyer's inspector
finds something your inspector didn't, there is now room for a difference
of opinion. Many times an inspector will do these pre-contract inspections
for less than their normal rates.
Final note
Please cooperate with the agents when they call
for an appointment. Sometimes it will be inconvenient for you to have
the house shown, but you may never get another opportunity for that
particular person to look at it again. Besides, the agent may feel that
if the property is difficult to show because of restrictions the owner
has placed on it, it may not be worth the trouble. We need all the help
we can get, so we don't want to alienate even one agent.
If you haven't agreed to it yet, you really should
consider having a lockbox on the property. It will make the property
much easier to show which will increase the marketability. Ask me if
you still have any unanswered questions.
Summary
Trim the shrubs, prune the trees
Paint the front door
Wash all of the windows
Put bright light bulbs in all fixtures
Clean out all closets and cabinets
Repair all leaky faucets
Caulk bathtubs, showers, and sinks
Remove excess furniture
Keep beds made and clothes picked up
Put dirty dishes in the dishwasher
Clean out garage, basement and attic
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