Home Seller Information & Marketing
Selling a home is no easy task. There is much to consider. It can be confusing, frustrating and overwhelming.
This article will help home sellers understand the thought process behind my unique home selling strategy. It will also explains some pitfalls of why buyers in contract fall though. A home is the largest possession most people will sell in their lifetime and yet many times it is treated with as much care as buying a tv or loaf of bread.
Things to consider when selling your home.
- Time frame for selling.
- What price to sell at. As a Realtor I will provide a market analysis which shows similar properties that sold and the price range. I will assist in helping you choose a price but ultimately it is your choice.
- Where are you moving to?
- Consulting a Accountant for tax information prior to the sale.
- Finding a Florida Licensed Real Estate attorney for contact questions.
- Hiring a Florida Licensed Home Inspector.
- Hiring a Florida Licensed Home Appraiser.
- What days and times can the home be shown? Speed is of the essence as many buyers will want to see the property fast.
- Will the house have a lockbox to show when no one is home?
- Are you ok with your home on the main real estate sites, and going to all the small ones that brokerages and agents have. Online is where listings are at now. Newspaper ads are a thing of the past. Without online and real estate agents most of the buyers would not find the property
- Consider past repairs done to the home. You will need to fill out a seller’s property disclosure. It covers past and present things wrong with the property as well as other things like HOA. For example if water leaked behind a wall in the past, and it was repaired, that would have to be disclosed. Along with current issues.
- Gather your HOA information
- Gather permits for past work done to the house. For example what dates the roof was replaced. Having the permits or invoice helps.
Prepare The House for Sale
Its important to step into the mindset of a buyer. Most sellers make the mistake of deciding what buyers will be ok with. Every buyer is different. Sometimes small things may turn a buyer off. Sometimes larger issues may make the buyer ignore the house. Again each buyer is different. Many times what sellers are fine with passing off to buyer, would not be ok when the seller is a buyer and trying to find a new home. Its a bit of a double standard..
- Empty house as much as possible. The less stacked up on walls the better. Buyers like to see what’s hiding behind things.
- A total wall to wall cleaning. If needed hire a cleaning service to keep it maintained. Be sure to clean toilets, sinks, tubs, showers, walls(be careful not to damage or stain the old paint), handrails, light fixtures, wall switch plates(hire someone to replace them), doors, floor and door frame molding, tile and wood floors. Clean out cabinets and closets.
- A good Vacuuming. Many vacuums after 3 years lose the ability to properly function. The suction and brush wears down. A new vacuum can really wake up carpeting and suck out dirt.
- Carpet Shampooing. This is a must. It gets out odors that some buyers may not like. Its needed to clean out stains and deodorize the carpet. Pricing a rug shampoo company to do this is a good idea. If its too expensive purchasing a machine in a store may be a better option. Remember not all buyers will replace rugs when they move in.
- Make repairs. Lets face it. Most people would prefer a home that does not need repairs. Small repairs like filling holes where pictures were hung can make a good impression on buyers that the seller cares for the house vs the seller is dumping problems on the buyer. When buyers find small issues it makes them wonder what else is wrong with the house. Buyers will factor in issues when making a offer. Most buyers will deduct contractor rates + a inconvenience fee for the repairs.
- Landscaping must be well maintained. Keep all grass, trees, bushes and plants well trimmed and maintained. replacing dead grass sections is a good idea.
- Remove or maintain hazards. Like trees that may drop unsafe growth or nails sticking out of walls.
Be Prepared for Pricing and Buyers Negotiating
Most people have heard over the years about house sellers in contract with buyers. Those contracts failing. Why does it fail? Typically from being poorly prepared as a seller. Most of the process does not have to be a surprise.
There are 4 main points of failures(surprises)
- The Mortgage Approval or Verified funds for the buyer
- The Home Inspection
- The Appraisal
- The Title
Great article which explains the legal side and responsibility. https://www.floridarealtors.org/law-ethics/library/florida-real-estate-contract-laws
The typical Realtor method
Is to just do a CMA or Comparable market analysis. And then let the seller decide on the price. Why is this method flawed? While it does show homes that have sold, along with the size and price and pictures. It does not state each sellers logic for the sale. Did the seller have to move fast? Was the seller given poor advice? Did the seller think they knew better then the professionals? Was the home damaged with defects? Was the house priced wrong(then other homes sold followed that price)? There are endless possibilities why each home sold for the price it did.
Rich Noto’s Advanced Method
Lets be ready from all angles. Who else should be hired? These professionals are not free, but for few hundred dollars its better than wasting days and weeks in contract, mispricing, or dropping the sale price by thousands of dollars with guessing game style selling. Because the Appraisal or inspection on the buyers side came back bad. Many times buyers will add a contingency addendum(add on to contract) It may state the appraisal(paid by the buyer and completed by a certain date) must come in at a certain price(selected by buyer) or the buyer gets back their deposit refunded.
A licensed Florida Home inspector. Inspections are not just for buyers. Smart sellers would want this. The inspection would show what is wrong with the house. It will have photos and text describing what’s wrong. Its proof of condition at the time the inspection was completed.
The seller will know:
- What needs repair. Be a step ahead of Buyers.
- What issues will make buyers drop the offer price.
- What issues may make a buyer cancel a contract.
- Let seller know if buyer is lying to get deal, by blaming things that are not damaged.
- Have their own seller inspection(second opinion) that might disagree with buyers inspection.
- Help price the home for top $$$ based on quality.
- A good inspection report will show buyers the seller cares.
- The report can be added to the MLS listing to attract buyers.
A licensed Florida Home Appraiser. When buyers pay with a Mortgage it is common for the Lender/Bank to send out a Appraiser to see what the home is worth. Smart cash buyers will also get the home appraised
The seller will know
- What the home is worth to Lenders.
- What the Banks will pay for the house.
- A logical price to list the home for. So its Mortgage Friendly as well as Cash Buyer.
- Seller will be ready for Buyers saying “this home is overpriced” just to get a deal.
Know your buyers. Without understanding buyer types its hard to decide what offers to looks for
More about Rich Noto’s home selling method.
When I was a home seller many years ago. Something that bothered me was the lack of respect towards my property. I would find find my home(after showings) with water running, lights left on, blinds pulled all the way up or left open, food wrappers, dirty shoes worn and so on….. Some Real Estate Agents are great and leave the house as it was. Others do not care.
I do care. I bring shoe covers with me(for buyers). To keep your house clean. I will not allow food to be eaten or drinks when I am showing the property. If I am selling the property the same applies if I am onsite. Remember that a home being sold is going to becoming someone else’s new home.
Multi-Point Home Marketing
- I have comprehensive multi-point marketing plan (more details are shared in person). This involves the internet and the major home sites, or as some agents say it your home goes to “hundreds of websites”.
- Camera photos of the home taken with and without a tripod.
- In depth Videos of the house and community uploaded to YouTube and my top ranking website for the subdivisions page.
- A special page section on my website about the house/community.
- Social media posts such as, Pinterest, Twitter, Reddit, Tumblr and YouTube.
- Plus for a added fee I can. Run special ads on social media sites that your house will be shown on. Optional print mail ads are available as well.
See my home buyers guide here
Contact Rich Noto Today for Help With Your Buying And Selling Needs.