Tips for Sellers

Should a home seller start with an asking price that leaves "room to negotiate"?

Buyers purchase homes by comparison. Our experience suggests they are more likely to make an offer to purchase on a fairly priced property than on an over-priced listing. Therefore, if a home seller asks for more than 5% over the actual market value for the home, one of two things will happen:

• Not much activity. Buyers choose not to look at homes priced much beyond their specified price range. Even though you may be open to considering a lower offer, many qualified buyers will never be shown your home because of your asking price.
• Lots of lookers but no offers. Buyers in higher price ranges judge your property as lacking by comparison. This means you get lots of traffic and domestic disruptions, and your competing owners get the sale.

A Realtor should consider several factors when recommending a selling price for your property, including:

• Comparative Market Analysis (CMA). A CMA details the prices of similar homes recently sold in your area, as well as homes currently on the market and even homes that did not sell and are no longer on the market.
• Price per Square Foot. Calculating the price per square foot of living area for homes recently sold in your area is one way to get a feel for the competition.
• Market Trends. Are homes selling quickly in your area? Are prices stable, increasing or decreasing? How many homes comparable to yours are already on the market? Are you in a more-active selling season (typically spring) or attempting to sell in the less-active winter season? These are a few of the considerations that your Realtor should address.

First impressions count, and the first area where a buyer will linger will be at your front door, while the Realtor gains admittance. Clean cobwebs, repair screens, sweep the front step, touch up paint where needed. Does the doorbell work? Does the lock operate smoothly?

Tidy up the grounds, porches, and garage, storing away any unused items that may contribute to a cluttered appearance. If your landscaping is plain, consider adding a few colorful flowering plants to the front area.

Simplify your belongings and furnishings wherever possible. Potential buyers want to imagine themselves in the home, and too many personal possessions can be distracting. Use this time to get a head start on moving: rent a storage locker for things you can get along without, or store them (as compactly as you can) in the garage.

Make any small improvements you may have been planning. A small investment in fresh paint, minor repairs, or new cabinet pulls can add greatly to a home's overall appeal.

Let the light shine in! Dress up windows with freshly laundered curtains and clean windowpanes.

This is the time for that deep cleaning you've been meaning to get to. If you have dogs or smokers in the household, you may want to consider cleaning the carpets. We often stop noticing common odors in our homes, so have your Realtor or a friend give you an honest assessment. Your home's aroma will be one of the first things a buyer notices.

Kitchens and bathrooms sell houses - make them sparkle!

Turn on all lights and open the curtains! Good lighting provides a welcoming feeling and invites the visitor to linger and look closely at all your home has to offer. Quiet background music can also add to the atmosphere you want to convey.

Avoid being present during showings. If you must be at home, give your visitors as much privacy as possible to take in the house and discuss their impressions with their Realtor.

Keep pets out of the way for showings. Dogs should be kept in a kennel or run, or taken out for a walk. Some buyers may be annoyed or anxious around animals, and some may enjoy them so much that their attention is diverted from the business at hand.

Leave showing to the salesperson. He or she knows what the buyer is looking for and will be emphasizing those particular features. It is the Realtor's business to monitor the buyers' responses and deal with important objections.

Keep the home clean, orderly and available for showings! This extra effort will facilitate a timely sale and a pleasant marketplace experience.

It is important to use a Realtor you trust and with whom you can communicate openly and with confidence. Honesty, integrity, responsiveness, and hard work are essential qualities in a good Realtor. Ask friends and colleagues for personal recommendations, check the Internet for more information, then meet with your top choices, being sure to include the following questions:

• What techniques will he or she use to determine a suggested listing price for your home?
• What marketing strategies, such as open houses, Internet websites, street signage, yard flyers, newspaper and magazine ads, will be employed?
• How long has the Realtor worked in the area?
• How and how often will he or she communicate with you?
• Are references available from satisfied clients?

The home seller's area of the U.S. Department of Housing and Urban Development website.