Seller’s Guide – Step 3

Listing Your Home

Pricing Your Home

The first step is to be sure you establish a good price for your home. Improper pricing is the most common mistake that costs home sellers thousands of dollars.

Here is what to consider: If the price is too high – it will sit unsold and become “stigmatized” or “shop-worn”

On the other hand price it too low and you may give away thousands of dollars in profit to a total stranger. Either way you lose. Finding the appropriate price sets the right stage for the entire selling process. A great benefit to you is to get the right frame of mind for the sale. Be objective and remember that selling your home is a business transaction, and you need to put your personal feelings and attachments to your home completely out of the equation. This is critical! Keep in mind that potential buyers are not looking to buy your home – they are looking to find a house that they can make into their home.

Establishing a Price

The next step is to arm yourself with the facts. By not establishing a realistic price from the beginning, many home sellers end up costing themselves thousands of dollars.

The value of a home is determined by supply and demand. If there are a lot of sellers and a few buyers, prices tend to go down and homes take longer to sell. This is referred to as a “Buyer’s Market”. But when the opposite is true, and there are many buyers but few homes for sale, prices will rise and homes will sell very quickly – this is known as a “Seller’s Market”. So do you know which market you are currently in?

It’s best to access the knowledge of a professional – but don’t spend money on a formal appraisal. As your REALTOR I can provide a market analysis on your home. I will show you detailed statistics explaining the type of market we are currently in; then study your neighbourhood to compare your home to others base on style, size, age, number of bedrooms, bathrooms, size of land (if detached) and other important factors.

Calculate Your Bottom Line

Once you have established market value, you can calculate your bottom line or your net figure. This is the cheque you will receive after all the expenses related to selling your home are paid. Closing costs vary depending on how the contract was structured and where the closing takes place. I can assist in preparing this for you.

Preparing Your Home

There are really two phases when it comes to preparing your home. The first phase is getting it ready for the market and the second phase is getting it ready for showing. Follow the link below for an article called: “20 Tips for Selling Your Home”

Room By Room Tips For Better Showings

Kitchen

Begin by taking everything off the counters. Everything including the coffee maker, crock pot, toaster, can opener – everything. Put them in a cupboard and take them out when you use them.

Homebuyers will open all your cabinets and drawers, especially in the kitchen. They want to be sure that there is enough room for all their “stuff”. If your kitchen cabinets, pantries and drawers look jammed packed, it will give your buyer a sense of cramped spaces. If you have a “junk drawer” get rid of the junk.

If you have a lot of canned goods crammed into the shelves or pantry, start using them up or donating them to charity. This will keep you from having to deal with moving them later.

Since buyers will be looking for leaky faucets and plumbing, under the sink is a critical area. Make sure this area is as empty as possible and again, remove everything – including all cleaning supplies. Scrub the area down and look for signs of water leaks. You might want to cover the bottom shelf with a fresh layer of shelf paper to give it a “new” look.

Laundry Room

Keep on top of the laundry. You don’t want piles of clothes to dominate the room. If you have a small amount, temporarily hide them away in the washing machine. Put away all clean laundry that is either folded or hanging up to give the room a larger appearance. Keep detergents neatly placed on a shelf or cabinet. Wipe down appliances to remove detergent sediment and lint.

Living Room

Dust and vacuum. A clean house gives the impression it is well taken care of. Open up the window treatments and let in as much light as possible. Take a look at the furniture to make sure it’s clean and free of pet hair. If you have too much furniture in the living room, it can tend to look small and cramped. Consider removing larger, cumbersome pieces of furniture and placing them in storage until the home sells.

Also keep in mind traffic flow. Arrange the furnature so that people can easily move through the room. You may want to consider hiring a Home Stager to help you prepare your home. It’s a small investment that could pay off with a higher selling price.

Bathroom

Clean, Clean, Clean! You cannot overdo this room. Make it sparkle! Put fresh (new if possible) towels on the racks. Always keep the trash bin empty – you never know when you’ll have a last minute showing request. Remove cleaning items from under the sink and check the plumbing for leaks. If any, make the necessary repairs, and replace any damaged surface. Keep cabinets and storage areas as clear as possible. Keep all medicine locked up and out of sight for everyone’s safety.

Go over bath and shower area to remove mold or mildew and water spots. If you have a shower curtain make sure it is in good shape and consider replacing if needed.

Master Bedroom

In the bedrooms, the obvious is the best course of action. Make the beds, put away clothes; remove clutter and personal items such as photos and certificates. Clear off the dresser and nightstand. Keep jewellery locked in a safe place. Remove any items under the bed, such as shoes or boxes. You don’t want to give the impression the home doesn’t have enough storage space. Empty laundry hampers that do not have lids.

Children’s Bedroom

The kid’s bedroom will give you the biggest challenge. On a daily basis, you’ll want to put away all the toys. Make sure the floors are kept clear. You may want to invest in a toy chest if you do not already have one. You can also get the kids involved in the home selling process to help you out and keep them busy. Click here to download a “kid listing agreement” for them to sign. They will feel as though they are contributing to the success of the sale.

A teenager’s bedroom can tend to collect a lot of things on the walls. Try to minimize wall clutter as much as possible.

Closets

In order to give a better feel for the size of your closets you should remove all the extra clothes and shoes. Box up anything you haven’t worn in over three months plus any offseason items. Also get rid of any shoe boxes full of “stuff” or other accumulated personal items. If you have a walk-in closet, make sure the light is on. If the closet does not have a light consider placing a battery-operated light that is easy to install.

Garage

Keep the garage door closed during showings. Make sure that all items are neatly placed and look organized. Place items on hooks or pegboard. Again, this will show that you took care of the house. Check the floor and remove any grease spots. Sweep the floor thoroughly and remove cobwebs from the walls and ceiling. If you find the garage a bit smelly, place an air freshener inconspicuously in the room. Since the garage door will be closed you will need as much light as possible, place the highest wattage bulb your fixture will safely allow.

Painting Tips

Painting always sounds worse than it actually is. But if you don’t want a full project on your hands, check out these tips to make it a little easier.

Check out: Painting Tips – Small Projects

Quick List For Showings

  • Put the dirty dishes in the dishwasher (or wash and put away)
  • Make all the beds
  • Wipe off the counters
  • Dry sinks and tubs
  • Empty the garbage cans (especially in the bathroom)
  • Place dirty clothes in the washing machine
  • Vacuum high traffic areas quickly
  • Turn all the lights on
  • Make sure the house smells pleasant
  • Leave the house before visitors arrive

> Next: Marketing Your Home