Help First-Time Sellers Through the Sale
Even the most steely-eyed sellers can get emotional when it’s time to list their home. It’s the place where they raised their children, gathered friends for annual holiday parties, or painstakingly executed their design vision over many years. The longer they have stayed in a home, the greater the challenges they may face getting up-to-date on the rules and regulations governing transactions. Those who have never before sold or it has been a while since their last sale are, indeed, in uncharted territory.
First-time sellers who have never contended with buyer demands may not initially understand how neutralizing their home or adding small upgrades can make their property more competitive on the market. Using data to highlight comparable nearby homes and what they’re selling for is a good place to start. Many first-time sellers don’t realize how minor repairs can elevate their property’s market value. Buyers typically expect a home to be in move-in condition, so sellers who choose not to upgrade could face a $10,000 to $15,000 price reduction and more depending on what updates are needed.
If sellers don’t fix up your house, the buyer will go around the corner and buy from someone who did—and they’ll pay more money for it already done. The costs of modest repairs, such as repainting, installing carpet, and refinishing or replacing kitchen cabinetry, are often recouped at resale.
Selling After Decades of Owning
Some common seller issues become more difficult simply because of how long a first-time seller has lived in a home. Decluttering, for example, can be hard enough for someone who’s been in their home only five years and very challenging for sellers who have lived in a home for their entire adult life. It is well worth the extra effort to declutter and update as much as possible. If not it can mean longer market time or a less sales price or both. The seller needs to declutter plus take his personality out of the home so the buyer can picture themselves and their family, sitting around the fireplace in the family room or in the kitchen feeding the kiddos at the breakfast bar before school. The home almost has to be like a model home, warm, inviting and personality free.
It’s not just emotional resistance they’re experiencing. First-timers may simply not be aware of how clearing out personal items improves the odds of a sale.
Sellers who have never dramatically decluttered their homes before, need to do it in stages, clearing one room at a time. Slowing down the pace can ease the mental and emotional pressure involved in getting rid of personal items and once you see the results in one room, it can encourage you to continue working on the rest of the house, one room at a time.
The biggest challenge for sellers of all experience levels is determining which offers stand the best chance of holding up. In a strong seller’s market, which we are in currently, buyers can get swept up in the heat of the moment and bid 10 percent over list price only to realize later they won’t be able to qualify for financing or get cold feet they paid too much and got caught up in the frenzy. The highest bid isn’t necessarily the best. “You want to make sure you’re getting the most qualified buyer so that you’re not back out on the market again.
If you are thinking of selling and have questions or would like us to walk through your home and give you suggestions from a buyers viewpoint on where to concentrate your efforts, please don't hesitate to call and one of us from Kentucky Life Realty. We would love to come out and sit down to help you start your process.
Also if you are thinking in the near future to sell your property, now is the time to do it or get started, as in our local market, we are inventory low and we call it a strong "sellers market", in some cases multi offers on the same property and days on the market very short. Hope this information is helpful to you.
Message from Karen:
If you are thinking of Buying, click on the button below (Click here to search ALL listings) and start searching all the available homes for sale in ALL of Greater Louisville and surrounding counties. If you find anything of interest and would like to check it out, just call, text or email me and I would be happy to set up an appointment for you to check out the property.
If you are thinking of selling, call me for a FREE home evaluation in your neighborhood, from staging, pricing, housing values, interest rates, how appraisers are valuing properties, now that the guidelines have changed. I would love to sit down and talk with you. Just call me and let me know how I can help with your real estate needs, buying or selling or both. I give exclusive representation. If you are not sure whether you want to sell for fear of not finding that perfect larger home, click on the Search All Area Listings properties below and start searching the areas and see what is out there. I do have a list of contractors whether you decide to remodel or purchase or both. I can supply you with a list of contractors. I would be honored and happy to help you.
Karen Rodriguez, Broker/Owner of Kentucky Life Realty
Notary, ABR, AHWD, CRS, e-Pro, GRI, SFR
Credits to: RealtorMag and Karen