Archive for August, 2009

In the current market, you’ll need all the help you can get to make your property stand out. Here’s some top tips for selling your house fast, and outsell the competition!

1. Timing

It’s all about timing. If you have a great property, and you list it in December - you may struggle. Best times for selling properties vary from town to town, but in general a good guide is to look at the start of April. You can do some research and talk to local estate agents, but we’ve found that in general april through summer is the best time, as most people want to move in good weather. It’s when properties look the best too. Aim for this time and you’ll hit the ground running.

2. Get Ready for the Sale

You’ll need to set aside a few months to get ready for the sale. Click Here for ideas about preparation. As soon as you start to think about selling your home, you should be looking at 3 months down the line to put your listing on the site. If you find yourself short of time, you’ll be stressed out, and won’t have time to prepare your house. Painting, cleaning and all the other things you’ll need to do.

3. Do Your Research

When selling your home, and advertising it online, it’s advisable to do a little research onto your local market. What are people looking for? How long are houses taking to sell? What’s the average age of the buyer in your area? It’s good to know these things, so you can tailor your sales pitch to the right audience. Is there a young average for buyers in your neighbourhood? You can probably play down the advantage of having only one floor. Is it an older average age group looking for retirement in your area? The football pitch out the back may not be relevant.

4. Careful With Your Price

Wanting to sell your house quickly? Overpricing your property will seriously stall the speed of your sale. They say knowledge is power - well it certainly is when you know your local property market. Talking to friends and neighbours who have recently sold a property, is a valuable source of information. Everyone knows someone who has recently sold a property. Talk to local estate agents and realtors, and look at listings online to see what is selling.

5. Home Inspections / Evaluations

The terminologies vary from country to country, but it means the same - a valuation for your property. Most buyers will want to get there own valuations, but you should get your own first - that way you’ll avoid any unpleasant surprises and can fix any issues that may arise before you put your property on the market. A qualified home inspector / real estate valuer will let you know what your house is worth, and what you can realistically expect for your property. It will help sell your property quickly, make your property appeal to the market, and stand out from the crowd.

For more top tips on selling your house quickly, Click Here.

Attempting to sell your house quickly during the winter season presents it’s own set of challenges. Whilst it may not be the perfect time to put your house up for sale, there are still lots of steps you can take to help you sell your property quickly.

If you live in an area which is adversely affected by bad weather in the winter, it can be tough trying to sell a home, as the property won’t appear as enticing as a nice summer’s day. If it’s really cold out there, and the rain or snow is falling, you can still make improvements to make the viewing experience of your home a memorable and pleasant one for potential buyers.

Snow on the Pathway

Remember to keep the pathway to your dream property clear of snow, so potential buyers don’t have to battle through to get to you! Snow will turn to ice pretty quickly out there, and you don’t want buyers collapsing in agony before they reach your property! A sprinkle of salt or sand will do the trick. You can also clear out beyond your doorstep, so people getting out of their cars can reach your front door easily. You can also put down a rubber mat for people coming in with wet boots on, and a pot for people’s umbrellas.

Lighten Up

To help you brighten up your property, do everything you can to lighten the place up. Pull back drapes, open up blind and clean all your windows. You can also turn on all your lights, and put uplighting behind furniture too. Don’t forget to turn off yout T.V. - it can be a distraction to people’s viewing time.

Warm it Up

Keep the property nice and warm. Not bermuda style, so people start sweating, just a little warmer than usual. Presenting a cold house isn’t good - you either have thin walls that let out the heat easily, or your a miser who wants to keep every penny they can get their hands on. Not a good look for negotiations. If you have the temperature nice and warm, buyers may be tempted to stay a little longer too. If you have a fireplace, make sure the fire is buring nicely and looking good. If you have any gas fires too, start them up.

Appearances Count

You can also do some of your own staging here, and create a nice ambiance in the house. You can also use rugs and throws to warm the furniture up and make them appear more welcoming. You can make you bathroom more appealing by setting up big, fluffy towels and spa treatments in there.

Try vases with flowers in them to brighten up a cold winter’s day. Why not try and set up up some romantic arrangements in the home? Maybe a breakfast tray with plates, cups for tea, and some newspapers, ready for two? Or you could set up the dinner table with roses and set for a romantic night?

Try Some Music

You can also use some easy listening music to help people relax - something easy-going like classical or some jazz.

Home Scents

Many people douse their properties in air freshners and so on. Don’t be tempted to do that. Lots of people are allergic to them, and you don’t want that. As long as you have the place clean and smelling fresh, you’ll be ok. A much better idea is to do some home cooking - try cookies - always a favourite. Whatever you do, don’t make something and then put the food away! Major dissapointment! Make sure your guests can get all the cookies they want. ‘Remember that house where we had those great cookies?’. Yes, I do.

What Food?

The idea behind sevring food is threefold: You give people something nice for free, they remember you and they stay a little longer in the property, hopefully noticing things they may have otherwise have missed. What foods to serve? Soups are a great idea. Lovely on a cold day, and takes a while to consume. Hot chocolate too.

Information for Rooms

Is there anything that may be of interest to your potential buyers? Maybe there is a little history in there. Or is there anything interesting about the period of the house? Perhaps your area has some interesting history, a story to tell. Add some character to your property, it makes it more memorable and fascinating. You can print these up and leave them in different rooms, or design an a4 leaflet with all the different features of your property, and local history.

Final Touches

If it’s getting dark early in the evenings, why not set up automatic timers that switch on when a buyer is approaching your doorstep? Remember to switch on interior lights in all rooms before people arrive - you don’t want them wandering into dark rooms. Maybe an electronic timer may be a good idea. You may want to unplug your phones as well, so you have no interruptions.

To see more top tips on selling your house quick, Click Here.

Everybody loves pets, right? Wrong! You may think that your pet is the most adorable, loving creature anyone has ever seen, but other people might feel differently.

If you want to sell your house quick, then you have to understand that your pets may hinder your chances of selling your home, or getting top dollar for it. Speaking as a life-long pet avoider, I can honestly say that I’d much rather not have to battle past an excited, barking, salivating dog to see round your home. In fact, I’d do anything to get away from it. Get the picture? Hope so….

Pet lovers have a hard time trying to understand why on earth anyone would be more comfortable with your resident pet hidden away from sight. Doesn’t it make the place seem more welcoming, and warm? No, not really. It’s just another distraction from the very serious business of buying a home. It may be a hard for you, but drop the pets off at a friend’s house for a few days when showing your home. There are other considerations for you too.

Remember that not everyone grew up around pets - and excited animals can make people nervous - like me - and put them off from viewing the property. Could that have been your potential buyer, running off down the driveway, making their escape? People can become terrified arpund pets. Some people have very large, irrational fears of animals, so take that into consideration too.

Pets are not always predictable. Are they ever? You can avoid any unwanted slip-ups if you move them to another location.

It’s always best to send the pets away while you are showing your property. Sneeking them off to the backyard or locked away in a room is just not going to work. You need to relocate them to a friend’s home for a few days, or a professional carer - you can relax and know they are being looked after, and get on with devoting time to showing your property to potential buyers.

I strongly advise that you do of course relocate your pet whilst selling your property. But if you simply cannot bear to part with your beloved pet, here are some tips for keeping things in shape whilst your show your home.

Litter boxes

Keep these out of sight, and of course super clean.

Carpets

You will need, without doubt, to employ professional cleaners to come into your property and clean your home. Pets smell! No matter how clean your house is, your home will smell of pets. If you have some pet stains that can’t be removed, then you’ll need to replace that carpet. Bad smells are a serious turn off for any buyers. As nike says - Just Do It. You can bring in neighbours who may give you an honest opinion. Note the word ‘may’.

Alergies

Some people have some serious allergies against cats and dogs. This is one of the many reasons you should have your house professionally cleaned. You don’t want that potential buyers snivelling and sneezing through the viewing.

Online Photos

Remember that you don’t need to include photos of your pet with your online pictures! Not a good idea. You can also put away all the water bowls, cat food and all toys.

Selling Your House Quick

So hopefully you get the idea. You really do have to move your pets somewhere else if you want to get that property off the market quickly. If you are determined to keep the pets in the house, then you put them into a carrier, with a note attached warning them to keep well away! It would be a serious blow to your selling chances if one potential buyer was bitten by a nervous animal. You may think you know, but who knows what a nervous cat or dog will do when approached by a stranger after being on it’s on for a few hours.

For more top tips on selling your house quick, Click Here.

Spring is the optimum time for people to be advertising their property for sale. The reason is simply because that’s when the majority of people are looking to buy, around April, May and June.

If your property has been on the market for a few months leading up to spring, it’s probably best if you take it off the market for a couple of months too, and give it time to ‘freshen up.’ Buyers won’t be interested in a property that’s been stagnating on the listings for months. People are more interested in new listings - when re-advertising your property, you should probably take new pictures of your house too, and that will encourage new visitors to your advertisement.

There are a few tips you can use when listing in the spring, that will help you sell your house quick.

Clean all Windows and Mirrors

An immaculate home is inspiring and exciting. People will imagine living in this incredible space! They won’t know why, but your house will entice them in and want to stay.

Trim Your Garden and Lawns

Make sure your lawns or gardens are clean, and free from any dead leaves of old flowers and bushes. Make sure the path to you home is free from clutter and then entrance is accessable and free from overhanging greenery or anything untidy. You can clear away all the excess clutter and let the sun in.

Cut Across Your Lawns

When you cut diagonally across your grass, it makes it appear bigger. Try it out and see for yourself, it makes the lawn look great!

Use Flowers to Enhance the Appeal

After a cold winter, flowers are inspiring. Daffodils fill people will encouragement and optimism. Place flowers around the home and use them to create a positive feeling.

Clean Curtains and Open Windows

Make sure your house is free from dust and dirt. Clean all curtains and wipe down all blinds with soapy water. You may not be able to feel or smell the dust and dirt in your home, but it will be there. You can only really appreciate it once the dirt has gone. There may be cobwebs up in the corners of the rooms too - have a good look. Clean all bed sheets and make the whites bright - try buying new sheets if you need to.

Clean Floors

Do yo have wooden floors in your property? If so, have a look at them. If they appear scratched from use over time, consider having them refinished. You may want to replace your linoleum floors if you have any, or thoroughly clean your tiles. Re-grouting is a good idea too - what a difference it makes.

Use Bright Colours

It may mean buying up some cheap towels and accesories, but you should make sure that you have lots of spring colours in your bathrooms and bedrooms. Soft spring colours like yellows and sky blues encourage the springtime feelings that you want buyers to feel. They brighten up rooms, and create a sense of spring.

Use Balloons!

Why not pop down to your local party store and pick up some balloons for your open days? It will help sellers find your home and create a fun party atmosphere. It will also help you get noticed by passers by and let people know something is happening in your house. You can also put up open house signs outside.

Flyers and Financing

You can also send out and use for advertising colour flyers - they sell your house better than black and white ones. You can also show people financing options on how they can afford your home. The first thing most people want to know is if they can afford your home and what the mortgage repayments will be.

Colour Photos

You can also use colour photography for your paper listings - it will work wonders if you have taken this into account with your advertising budget. Wait for a great day and take a picture that will entice people to come and see your property.

Make Some Great Food

You can use food to your advantage - if you make some sandwiches, or something more interesting, it will be appreciated. People will stay in your kitchen longer, and will appreciate it’s features, will be happy that they are being fed, and your cooking will fill your house with wonderful smells of freshly cooked food. Sound good? Just don’t burn anything!

Have a look at your local listings by Clicking Here

It’s surprising how rarely sellers ask for feedback. Want to sell your house quick? This is the crucial information you need to have at hand to have the advantage in the marketplace. It’s often overlooked and is the most important information you can gather after putting your property on the market.

Why do people miss out on asking for feedback? Some people don’t know what to ask, and some are just too scared of criticism. Look at it this way - once you’ve asked everyone what they think, and you’ve fixed all the things people don’t like - you’ll have the perfect property for sale. The fact is, there won’t be so many things to change, and the same things will inevitably come up. You need to ask people’e opinion - from here you find out what’s working, and what isn’t.

So what question do you ask? Well, you need to get into their heads and find out what they’re thinking. As soon as you start asking questions, you’ll begin to understand what buyer’s are thinking, see patterns developing in what is looking good and what isn’t, and get some ideas to help sell your house. What to ask? Try the following questions.

So, what did you think about the condition of the property?

When you ask people about their views on your property, they will usually start with bland responses to your questioning. ‘It’s lovely’, or ‘it’s nice’ etc. These responses won’t help you much. No-one wants to offend you by saying they can’t stand it, and need to leave immediately.

The first key to gathering information that will help you, is not to become argumentative and angry if someone dares to critique the property. You have asked for their opinions, after all. You’ll need to probe a little more deeply if you want to get more. ‘If it’s so nice, why aren’t you buying it?!’ is probably not the response you’re looking for here. You can try a little gentle questioning, like ‘what do you think I could improve on?’, or ‘is there anything you would have liked to have seen?’, or ‘Is there anything I could do to make it more attractive?’.

How do you think it compares to other properties on the market?

This is a great question, because it will let the buyer tell you about what they are looking for and how how your property answers those needs. You may also find out interesting things about your property, and the good features and the advantages you have over your competitors. You may be in a better part of the area than others, have more landspace or a bigger garden, or more sunlight coming into the property.

Was there any stand out features about the property?

There may be things about your property that you haven’t realised that are great selling features to potential buyers. It may be that someone will comment on a feature you hadn’t considered all that amazing, until someone mentions it to you. If a buyer tells you something is great, you can ask them more about it and why it is important to them. Maybe you have a beautiful bath that people see and can’t wait to get into and relax after a long day at work. You never know…

Is there anything I should change?

When you ask this question a few times, there will certainly be a few patterns developing here, as the same comments come up time and time again. Yes, the carpet may have to go, or your teenager’s blood red walls may have to be painted. Not a good look. Don’t be offended, just make the change!

How do you feel about the price?

Everyone is going to tell you that the price is too high, and it’s very unlikely that someone will tell you that the price is too low! You can also ask how the price compares to other houses that they have looked at. If everyone is telling you that there is a similar house in the neighbourhood that is going for 20,000 less, and gets sold the next week, maybe it’s time to re-think your asking price. All these question give you a better knowledge of your market, and make your position stronger. You can find out what other people are selling for, what people are looking at, and if other houses are selling, and what for. Once someone has told you that there is another property in the area for a simlilar price, you can watch it and see if it’s selling. You may have a larger garden, or more space. The market will tell you if you have priced correctly or not. You can also choose to be direct: ‘How much do you think it’s worth?’. Why not - you might be surprised.

If you were living here, what would you change?

This is an interesting question to ask, because A: you can find out if you have an interested buyer, and B: You make people become creative and start to think more deeply about your property. If someone responds with ‘I can’t imagine living here’, then you can ask them why, and what are they specifically looking for. It may be that you simply don’t have enough space for them. Not much you can do, unless you want to knock a wall down! Maybe there is an opportunity to do that. Have a conversation about what they are looking for.

What would make you to buy today?

This is a pretty bold question, and may be greeted with laughter or vacant stares. Perhaps the buyers will let you know what they’re motivation is for buying, and that’s what you’re really after. They may let you know that they need a quick close, are looking for an empty property, or what it is that you’ll need to change. If they do need to move in quickly, you can assure them that this won’t be a problem, and you can work something out. The more communication you have with a potential buyer, the more chance you have of satisfying their needs, and selling your house quick!

To see what’s on sale in your area, Click Here.

If you’re wanting to sell your house quickly - an extra addition to your marketing strategy may be to employ a staging company.

What is staging all about? Staging is where you can employ someone to come into your home and re-design it to make it look more appealing to potential buyers. The staging company will make your property appear brighter, fresher and can turn a ‘no sale’ into a ‘yes sale.’

This is more than getting your property ready for a sale, and more than what you’ve done already - the repairs, the cleaning and painting. It’s about getting the house dressed up to become more attractive, and adding details that only professionals can come up with.

What Do Home Stagers Do?

Stagers are high-end interior designers, who have years of experience in redeveloping interiors for home sellers, and can turn your property into a sought-after property. You may think a paint job here, and a rennovation there will be enough to sell your property, but in today’s market, you may that extra help.

What do they do to turn around my property?

There are a variety of things the stagers do, and these include:

Re-arranging furniture in more attractive layouts

Introduce more expensive fabrics into the home

Introduce small details like pictures and ornaments

Redesign window spaces

Develop more interesting spaces around bookshelves, fireplaces etc with more interesting features

Stagers bring a large box of tricks to your home to increase the atttraction value. They utilise mirrors, plants, flowers, floor lights and table lamps, rugs and throws, pillows, baskets, towels and lots more.

What You Can Do

What stagers do is let the room speak for themselves, and maximise their potential. Every room is basically the same: four walls and a ceiling, right? So they can all look great, it depends what you put in it. If your property is empty, with no furniture left there, it will inevitably remain unsold for many months, as there is no appeal there - it has no soul. You’ll need to get a great stager in if you have moved out of your property already and the place is empty. Remember that the kitchen is key, and is the place where you showcasing skills must be most in evidence.

A few tips for you to get going, if you’d like to attempt to do it yourself:

You can oil up some of your cabinets or wood surfaces - this will renew the shine and make them appear newer

Fruit bowls are a good idea - big, shiny fruits look great and give out a good healthy feeling

Fill up your bookshelves with bright, colorful books - in your lounge and in the kitchen

Bring some plants into the rooms - it reflects on the home and the vibe.

Create clean, bright spaces for people to view and walk around. Bathrooms that are fresh and spotless sell well, and are very important to the potential buyer. Make sure these look great, and replace any sinks or taps that are looking tired. You can also fill the bathrooms with luxurious treatments to give it that spa treatment feeling, oils, bubblebath, thick heavy towels, moisturisers etc.

Don’t forget about your back garden too - do you have space for a decked out patio? Maybe you can have a chat with your local landscaper - we’ve seen regular gardens transformed overnight with hanging flowers, potted plants, streams and pools!

Are They Expensive?

The prices very much depend on where you are, and how big your property is. Larger cities tend to be more expensive. Staging is usually more effective with empty homes, as there is a larger scope with a bigger canvas. Contact your local stager through the internet and see what they can do for you. Fees can range from £400 to £4000 ($600 - $6000) and the prices vary depending on square footage of the property, and the number of rooms needing redesigned. It’s always worth a chat with them, and you can probably get a free esitmate too.

For more information on top tips for selling, Click Here.

If your trying to sell your house quick, what home improvements can help your chances? It’s a question we’re often asked. Quick repair jobs can add value and interest to your property - but which ones give you the most bang for your buck? It depends on a variety of factors.

Different repairs and rennovations can make more sense depending on the time of year they are created, the location of your property, the current market climate, and the competition from other properties. There are no hard rules for what makes the most sense for you.

Start with the Flooring

What’s currently covering your floors? In the sixties, carpeting came into vogue, and everyone had it. Today, wooden flooring is very much in demand. Do you still have that 60’s shag carpet in your home? It’s time to move quickly into the 21st century, if you want to sell quickly! It’s what buyers want, so it would be wise to consider it. Determined to keep the carpet and have a personal pet hate for wooden floorboards? Then try replacing your current carpet with some neutral coloured carpet. Light tan is easy on the eye, and appealing to potential buyers.

If your kitchen or bathrooms have ceramic tiles or stone tiles - have a look at the condition of them. It’s off-putting to see cracked tiles in a property when you have people viewing - that’s something they’ll notice and think ‘I’ll have to fix that if I buy the place.’ Not a good place to start.

Your Walls and Ceilings

Carefully examine all your walls and ceilings. What kind of condition are they in? Potential buyers will be looking from all angles at your property, and they’ll be looking for mould, damp and any signs of leaks or water damage. The best idea is to paint the lot. Don’t take any chances here - a small effort with paint goes a long way, and makes the property look like new. Fresh paint is THE most cost effective measure you can make - again, go with neutral colours.

Wallpaper

You may not know it, but buyers tend to dislike wallpaper. ‘But why?’ I hear you say. Because your taste is dreadful. Or so they think - because they would never have chosen it. Wallpaper is the ultimate in personal choice, and rarely would anyone pick the same as someone else. The chances are that someone viewing your property will have the same taste as you are beyond remote. So you have to bite the bullett and make the change. Find a steamer and take it off your walls, and replace it with neutral coloured paint.

Textured Ceilings

If you have any textured ceilings, I’m sorry, but they have to go too. They’re horribly out of date. If you need any inspiration into what to do - pop into your local interiors shop, or go online and do a search for current interior trends - you’ll find lots of inspiration if you’re having difficulty in finding ideas to modernize your property.

The Kitchen

The Kitchen is THE most important in any property. Most other rooms can be rennovated at a small cost, but dated appliances, cookers, fidges etc can be expensive to replace, and potential buyers see the kitchen as a deal-breaker. If you don’t have to modernize your kitchen, you can save a small fortune. If you think that your kitchen is looking old and dated, it is very important that you address the issue. There will be other properties on the market that have up to date fittings in the kitchen, and you need to compete with them to sell your house fast.

No need to fear though - research shows that kitchen remodelling returns are almost 100%. Nearer the more expensive end of refurbs dont return as much as mid and lower end range rennonvations, it should be noted. If you’re really going for it, and spending a fortune on the kitchen, your returns may not be as spectacular as you expect. If your simply replacing an old kitchen with a better looking model, you’ll be making a shrewd investment.

Counter tops and Cabinets

With counter tops you can get away with resurfacing. There’s no need to buy a whole new range of fittings if you don’t need to. Resurfacing involves applying a thin layer of veneers to tops and facings. If your worktops are looking tired and scratched, then it’s a good option. If your cabinets are tired looking, the same applys. If anything in the kitchen is painted, then you can look at a fresh lick of paint here too.

Sinks

Sinks tend to tire fairly quicky. How do yours look? People want to see sparkling kitchens, with shiny steel fittings. Remember and check underneath the sink too - you’ll usually find all sorts of calamity underneath there - make sure it’s all good here too. No leaky pipes or fittings.

Check out your bathrooms too. Again, the return on investment has proven to be excellent - around 100% return on your money. ‘So I get my money back… is it worth it?’ It’s not just the return on investment your looking at here. Once the rennovation has been done, your house looks better, and has more appeal to the buyer. Your creating more value to the eye, and that counts as more than just a return on investment - your increasing your chances of a sale.

Your Exterior

There’s few things worse than a property with a leaky roof. That’s the end of the game right there. If people come to see your home and the roof looks like it may need some work, you’d be as well not putting it on the market. Have a look and see what people coming to view your property will be seeing. Remember to fix all cracks in exterior tiling, look at the condition of driveways if you have them, try putting in flowers to add visual appeal, and examine your window frames for signs of aging. You can also check the condition of your fencing, and check all door knobs and paintwork. A new door may be in order - first impressions count!

Finally

Don’t forget that you can probably do with some new wiring too - you may be asked by a potential buyer the last time you had you electrics and plumbing checked. It may be a good idea to get a professional plumber and electrician in to do all the check before someone asks you.

Remember that the majority of buyers don’t want to purchase a property that needs work. It’s a big enough effort to sell a house and move into a new one! We you finally get there, and move in - you find that there’s more work to do! Not so appealing. So get your property in order, do the repairs and make it look great, and sell-your-house-quick.com!

For more articles on selling your house quick, click here.

Want to sell that house quick? Read on for mistakes you can avoid and see that property fly off the market!

I Want As Much As I Can Get!

When the average seller gets round to figuring out a sales price for their property, it’s easy to get carried away with what you think you can get. ‘That property sold for xxx,xxx, just last week! We can get more than that!’. You start to imagine what all that cash can get you, the fabulous new house you’ll be moving into, the great vacation you deserve or the new car you’ve had your eye on.

When listing with an agent, sellers are often fooled into going with the agent who values the property at the highest. When listing yourself in a private home sale, and advertising online with sell-my-house-quick.com, it’s tempting to list as high as possible, and see what happens.

The Offer

There is in fact oly one valuation that will mean anything to you: the valuation that comes in the form of an offer for your property. Pricing your property is a mixture of research and educated estimates, where no two valuations are the same.

You need to be aware of the market in which you are selling, the inventory it currently contains and how it is moving and changing through the seasons. This is the way that professional valuers work to achieve their figures too. There is no hard a fast way to come to an exact valuation. As we have said previously, the market will let you know if your valuation is realistic.

Pricing My Property Too Low

Properties sell when buyers and sellers can meet at a point where both demands can be met - the seller has gone as low as they are prepared to go, and the buyer has reached their upper offer limit. You don’t need to worry about pricing too low - you’ll receive multiple offers and can play them off each other.

The mistake you can make is pricing too high - you are then in the unfavourable position of having to lower your original price, and from there, it can only go down and you start to look desparate.

The First Error

Sometimes it can play out like this. A seller feels confident that they have done some market research, and they have arrived at an overpriced figure for their property. They are sure that although expensive, it still represents a great deal for everyone. After 2 months, there is no interest, and the listing has received no enquiries.

Drop the Price

In the third month, the seller drops the price, maybe by 5%. The listing start to receive hits, but no real enquiries, and certainly no offers. It’s at this point you realise that the property it still priced too high.

8 Months On

It’s 8 months down the line, and the asking price has now dropped by over 30% from the original value. The property finally sells for cash, after another reduction. Comparable sales in the area suggested that a the final selling price was way below what it really should have sold for. So why did it? It had been on the market too long, and the seller had grown weary of the whole thing - desparate to sell. It had been on the market for too long at the wrong price, and many potential buyers had passed over it.

There are actually realtors and estate agents out there who specialise in selling out of date listings and properties - where sellers have become frustrated and they bring them back onto the market at a realistic price. Repackaging overpriced homes is a lucrative business, and they do very well.

How Much Does It Cost You?

Expired and tired listings can cost you a whole lot more than just the money you should have made. Not only do you have months of extra mortgage payments to make and the hassle of staying on in a property you don’t want to, you’ve spent months keeping the place immaculate for any viewings you may get.

Be aware of what the price your asking means to the market, and keep tight tabs on how many offers you are getting, and the amount of views your listing in receiving. The traffic your listing in getting will tell you all you need to know about the price you have listed.

To see what’s happening in your local area, Click Here.

The most important factor in selling your home is the price. It’s what people search for, what people look see first, and how they decide if they’re interested in your property.

The worst thing you can do is overprice the property, as you’ll kill off interest before you even get the chance to let people see it. After a few weeks, all interest will disappear.

If you price to too low, there’s no need to worry about it - you’ll receive multiple offers which will drive up your asking price. No two people will estimate the property’s price, as it’s a mix of comparables and personal estimates.

How to find the right price for your property? Read on…

Find Comparable and Recent Sales Listings

On sell-my-house-quick.com, you can do all the research you require on your local market, via our ‘Search Houses’ page. Find all the houses that are listed in your area, and find ones that are similar to your own. There will be variations, but once you have collected a few, you will begin to understand what the market value of your property is. This is what professional appraisers do - find comparable and and see how your property stands up to the features and quality of other properties.

Important factors come into play with regards to social dividing lines too - certain streets and areas are more desirable, and therefore more expensive than other. You’ll be aware of the different areas in your city, and how the pricing varies between them. It can be a simple as a road through a town - if you’re on the wrong side of the tracks, your property can worth a lot less.

You should be looking at houses that are no more than a mile from your property. This will keep your margin of error on estimating your property’s worth to a minimum.

Also be aware of the square footage of a property, and how this affects the price. You’ll see similar properties out there, but the ones with larger sizes will be priced higher accordingly. The more you look at, the more familiar you’ll become with the pricing valuations of properties.

Remember to find comparables from the same period. Homes that were made in the 50’s will differ in price from those from the 90’s - even though the structures and size are the same.

Pending Sales

These are sale that are in motion - the seller has advertised, and there has been an offer accepted by the seller. They are in the process of exchanging contracts. You can find out how much the house has been sold for if you call up the agents involved. Some may be reluctant to tell you, and some will. These are invaluable figures to come by, as they are live sales and properties that will give you an accurate idea of what is selling on the market.

Live Listings

You can have a look at what being listed right now, and act as if you were a buyer. Become as objective as possible, and put aside all your prejudices and go looking for a home to by. What is standing out? What looks good? Why do you like it? What isn’t working? What photographs look good? More importantly, which properties look better than yours, and why? You can pick up tips just from looking around - check out your competition.

Appraisals and Valuations

We have mentioned in previous blogs that getting your home appraised before selling is a good idea. When you agree a deal with a buyer, their lender will want to get an appraisal for the property, to make sure that the deal between the buyer and seller is for a reasonable amount, as they see it. When appraising your property, square footage is a major factor for the professionals. When making comparables, they work to no more than 10% variations on that size. If your property is 3000 square feet, they will then work within a comparable range between 2700 and 3300 ft, and find properties within that range to gauge a value for your property.

This doesn’t unfortunately mean that you cand find a large property in your area, work out the price per square footage, and use this for your property. The larger the home, the more value each square foot is worth - so stick to properties of similar size for your calculations!

Different Market Conditions

You’ve had a look at your local market, and there seems to be a few similar houses - but they’re all at different prices. How so? There’s a variety of reasons. Rarely do appraiser’s arrive at exactly the same figure for a property - that would be unoriginal - and the seller could have worked it out for themselves! It may be that the properties were put onto the market at different times during a changing market and the seller has stubbornly held out for the original asking price, only to be left on the shelf.

In a buyer’s market, you’ll need to price your house competitively and be aware of the most recent comparable sale. Let’s say the most recent comparable you have found that sold went for 160,000. It would be a good bet to price your property at 159,000, and settle for 155,000. It’s a buyer’s market (as it is right now across most countries) and you have to be prepared to sell agressively if you need to. You don’t want to hang around for the price that a property on the same street sold for 6 months ago.

In a seller’s market, with the same property (160,000) you can afford to ask for more - I would say as much as 10%. If after you’ve carried out your market research, and found that inventory in the area is low, you can ask for more. If you are bringing to the market a modern, desirable property of which there are few the listed, you can be more confident of asking for a higher price.

The market will always let you know what you property is worth anyway, so don’t expend to much worry about that. If you put your property on the market for a very low price, you will be flooded with enquiries! If you put it on for to high a price, your phone won’t ring. Pay close attention to who is interested, and find out from feedback what you’re doing right, and what you could be doing better.

To start your market research with our search page, Click Here.

Approximately 20% of all sales on the market are ‘For Sale By Owner’ listings. During a fast moving market it’s easy to sell privately, amd more difficult in today’s climate. Here some ideas to help your property fly off the market.

How Much is My House Worth?

Pricing your property for sale is part intuition, part market research and party timing. The first two weeks that your property is on the market is crucial, as this is when the majority of sellers will see your property for the first time. It’s a classic mistake by a seller to overprice your home before you list it.

Preparing Your Property For Sale

When your selling your home, it must be immaculate and ready for inspection by potential buyers. Before letting people into see your property, you must try and see it from a buyer’s perspective. You can enlist the help of friends as well, as they can help you see the property from a new angle, and see things or problems that you may have missed.

You can consider improvements that you may want to make, and get round to fixing the problems you’ve been putting off - they could improve how much money you make at the end of the day.

You could also consider employing the services of a staging company - you may be surprised by the ideas they can bring to your property, and how much money they could make you. It may be the difference between selling your house quickly, or months of frustration.

If you have pets, consider the effect they have the selling of your home. It may be that you’ll need to get rid of any pets smells that may be lingering in your property. It’s harder to sell homes that have pets living in them.

How To Market Your Home

If you are one of the many people thinking of selling your home privately, then it would be a good idea to spend a certain amount of the money you’ll save on advertising. Have a think about who you want to sell to, and how to attract them. Have a look at our marketing tips for more information on how to target your audience.

Remember that all your marketing is designed to let as many people know about your home for sale - getting as many people through your door to look at your property.

Be flexible with the times you are prepared to show your home, and keep in mind financial incentives you can offer to potential buyers.

Keep track of feedback too, from all the people yo uget to come and see your property. If people are coming to see the house and leaving promptly, then you should be asking them what they thought, what they did and didn’t like.

Also keep in mind that there are different sales techniques for different seasons. If you sell certain features in winter, you’ll be promoting different features in the spring.

There are also tips here for how to hold an open house. Again, you should be flexible when you have the open days, weekends are always a good place to start.

To start some market research on properties in your area, Click Here.