Posts Tagged ‘home selling tips’
Snooping Real Estate Agent Caught on Camera
ATLANTA — When real estate agents representing buyers show your home, should they be allowed to examine private or confidential papers? How would you react if you caught them doing just that?
Channel 2’s Tom Regan talked with one home seller who was shocked by what he caught on camera in his home. David Scitthelm owned a beautiful home in Buckhead. He was proud to put it up for sale, but he wasn’t pleased with the conduct of the two real estate agents who arrived to show the house.
To Learn More or Watch the Short Video, CLICK HERE
Commentary: Infotube.net ALWAYS advises that home sellers hide or pack away anything that is private or could be used against them in a negotiation. And, private mail and legal notice issues aside…did you see how this agent hunted for books, stereo equipment, family photographs, collections, etc. to gain personal knowledge about the sellers? Hopefully this story plainly illustrates to homesellers the importance of packing up all personal items BEFORE they put their home on the market. Added Bonus: A staged home always shows better and appeals to a wider audience, too.
P.S. And, don’t forget your medicine cabinet (:
Cheap Fast Update for Bathroom Mirror
If you have one large mirror over your bathroom sink or vanity and you would like an updated fresh look…we have an easy, do-it-yourself trick that won’t cost you an arm and leg.
Before……
After…..
1. Measure your mirror, then purchase a molding you like at the hardware store. Some stores will even cut it for you.
2. Stain the molding to match the woodwork in your bathroom.
3. Apply glue to molding, then stick it to the mirror.
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InfoTube.net on Facebook and Twitter
InfoTube.net announced some recent updates to it’s website that make it easier for homeowners to share information and property details on the internet.
Share Your Property Information with One Click
InfoTube.net has provided a direct “Share” link on every home listing. The “Share” link automatically feeds your property listing to all major sharing websites such as Facebook, Twitter, MySpace, etc. If you use social networking or RSS feed websites, simply select where you want your property listing posted and click. It’s that easy. (The Share Link can be located under the “Email Seller” link on every home listing.)
Sellers and Buyers Communicate, Learn and Get Advise
InfoTube.net for Real Estate has an Offical Facebook and Twitter page where you can post pictures, questions, idea’s or funny real estate stuff you want to share. Become a Fan and Contributor Today.
Thank you for visiting InfoTube.net for Real Estate. We hope you like the new improvements. If you don’t already have a FREE property listing on InfoTube.net, post one today, you’re missing buyers.
Tip for Faster Closings
If you are selling a home that qualifies for FHA financing, you are required to complete a Transfer Disclosure Statement (TDS), before the buyer’s loan can close. With closings taking up to 90 days to happen, it is imperitive that you don’t hold up your sale. See the criteria below to determine if you need to complete this form.
- If the home qualifies for FHA financing, and you occupy the home, you MUST complete this form in order to sell your property.
- If you are advertising your home as a “short sell” and live in the home, you MUST complete this form in order to sell your property.
- For those homes listed by an agent or broker, the agent only has to request the form from the seller 3 times and they are off the hook.
- This form is not required for non-owner occupied housing (ie: foreclosures and bank owned).
With the first time buyer tax credit expiring in a couple of months, you don’t want to lose a sale because you have not completed this simple form. Make sure you complete it and provide it to all buyer’s.
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Priced Reduced. Who Cares? No One!
PRICE REDUCED. JUST REDUCED. PRICE DROP. PRICE SLASHED. These are the Signs of the Times, but why? Who cares, really?
Although, Realtors love the phrase and evidentally believe it to be a powerful message, PRICE REDUCED, means only one thing…the listing was overpriced. It doesn’t mean it still isn’t.
So, why do Realtors hang banners advertising that a price has been dropped? Do they believe that buyers care that an asking price was reduced from $250,000 to $200,000, if comparable homes in the neighborhood are priced at $175,000?
Maybe, the hoopla is all about the agents themselves. Maybe, it is a secret way of gloating to one another that they finally got their unrealistic seller to drop their price. Woo Hoo, We Were Right.
In any case, I find signs with swinging distress messages very unmotivating, somewhat negative and kind of sad. They are the antithesis of salesmanship. And, when I see these type of signs, my mind immediately conjures images of a stale listing, a probably dated interior, repair issues and a difficult seller.
In my opinion, a good salesperson, who works on behalf of the seller, would post signs that gave buyers important, exciting news about the property. “Seller Financing”, “Zero Down”, “Lowest Price in Area”, ”Free Appliances” or “Special Financing. Positive messages, such as these, are informative and helpful to buyer and seller, alike.
Before Realtor’s spends any more of their hard earned money on negative messages, or homeowner’s allow another one to be posted, I hope they stop and ask themselves, “Why are we doing this and Who really cares???
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What to do if Appraisal Comes in Below Sales Price
Finally, the house is under contract. The inspections are done. Repairs have been negotiated. Everyone is ready to move…then, the buyer’s appraisal comes in below the agreed upon sales price.
Don’t Panic. It’s Not the End of the World. Read this helpful article about how to keep the deal alive.
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4 Mistakes Home Seller’s Make
As the spring home selling season approaches, many homeowner’s rush to put their houses on the market. Interest rates are low, tax rebates and sales incentives abound, and home prices are more affordable than they have been in a decade.
But, before you throw the ‘for sale’ sign in the yard, please educate yourself about the common mistakes you should avoid, if you want to sell your home. Decades of real estate experience have proven again and again, that making these mistakes, even once, will stop any sale in its tracks.
- Pricing: Setting an unrealistic price is the biggest mistake home seller’s make. The home MUST be initially priced at or under its competition, or you are simply wasting time and money. Some seller’s toy with the notion of “low balling” their asking price, hoping for bidding wars and a quick sale. While this strategy sometimes works on lower priced property, it doesn’t work in higher price ranges. Buyer’s in a higher price range simply think that the seller is desperate, which always results in even lower offers, not bidding wars. We won’t address overpricing, because there is nothing to say. The truth is no one will overpay for your home, it won’t appraise anyway, so please keep it off the market, until you are ready to be realistic.
- Property Condition: Know as much as you can about the condition of your property, fix everything that will stop a sale, and disclose everything you know about the property condition to the buyer. If you don’t, when the problematic inspection report is revealed, the buyer will cancel the contract and walk. Afterward, the seller will find themselves in a much worse position because they lost momentum, valuable time on the market, and the cancelation signals that something was wrong with the house. The seller will also be required by law to disclose everything found on the prior inspection report, so there is nothing to gain and a lot to lose by hiding the facts.
- Working with Today’s Buyer’s: It is a mistake to not entertain any offer, no matter how low the inital offer is. Buyer’s in this market make low ball offer’s first, to test the desperation of the seller. You will never know what price a buyer may be willing to pay for your home, if you don’t negotiate with them.
- Potentially Unqualified Buyer’s: NEVER get into a contract with a buyer who isn’t financially qualified for a loan. A letter of prequalification is not enough to take a home off the market. First, know who the lender is and require full underwriting approval within days of the acceptance of the offer. Be sure to write this loan approval (not prequalification) provision into your contract. Maintain your Active Listing Status and DO NOT indicate that your home is Contract Pending until the buyer has verifiable loan approval.
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Home Buyer Gives Good Advice to Home Seller’s
So, my husband and I are now in the market for a house! It’s very cool, because it’s definitely a buyers’ market, as it was when we sold. Being on the other side of the equation gives me a whole new perspective, of course, and I’ve been trying to look critically at the houses that we have been seeing so I can pass on my observations to you all, as you are staging and selling your houses. I know that you have lost a bit of leverage, since there are so many houses on the market right now, but there are still things that you can do to help your house stand out. And frankly, I’ve been a little amazed at how some of the sellers whose houses we’ve seen haven’t done those things.
First and foremost, and this may sound like a little thing (but it’s not): Keep your infotubes full! I cannot stress this enough. When we are driving around and see a house that’s for sale, we immediately stop to look for “words.” If the InfoTube is empty, our immediate reaction, fair or not, is “They don’t really want to sell this house.” A neglected InfoTube could be just an oversight, or it could be a sign of greater neglect. Either way, we don’t even consider those houses. So, if you are still in the house you are selling, for goodness sake, keep that InfoTube full! And if you’re not in the house, make sure that your agent keeps the tube full. It makes a difference. Remember, I am now your potential buyer, and you’ve already lost me!
Depersonalize, please! I consider myself to be a fairly sophisticated buyer–one who is able to look beyond the stage at the bones of the space, but many potential buyers just see what they see. They see the pictures, not the walls behind them. They see the carpet, not the floor underneath. Make sure that what these buyers are seeing is the most tastefully generic stage you can possibly set. We went into a lovely home last weekend–2300sf, soaring ceilings, lovely staircase, immaculately kept. It truly was a lovely home. We didn’t like the layout; it wouldn’t work for us, so we passed. But the people who live there and are trying to sell have written off a large portion of their potential market. There were family photos all around the house and a lot of art–everywhere–that was very personal to them, because it was all religious art. Whether the art was Christian, Islamic, Hindu or Zoroastrian, it makes no difference. Many people will walk into that house and walk back out because they can’t see beyond the stage. I’m not saying you have to be Peter and deny your religion, but you do have to be sensitive to the fact that not all buyers will believe the same things you believe, and many might actually be put off.
As we continue our search, I will continue to bring reports of what I’m seeing out there. I hope that this new phase in our lives will help to focus your resolve as sellers as you get your house sold!
For more information, or to order a copy of I CAN Sell This House: Secrets to Selling Quickly in a Buyers’ Market.
A BIG thank you to Jennifer taking the time to talk straight with home seller’s as she continues her search for a home. If you are looking for a home, please check out the home listings on Infotube.net. Seller’s can post property listings for FREE on the site, so the inventory is fresh and constantly changing.
10 Mistakes that Home Seller’s Make
I came across this fun and informative, short video illustrating common mistakes that home seller’s make when marketing their homes. The video offers wonderful tips about preparing your home for sale, pricing, selling and negotiating offers. So, relax and have fun while you learn. The entire clip is only around 2 minutes.
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Move Those Home Buyers Off the Fence
We hear the questions on the news everyday… What will it take to get buyers off the fence and into a home? Is it lower interest rates? Tax Credits? Freebies, giveaways or bonuses to buyer agents?
The National Association of Home Builders released results from a poll which ask home buyer’s why they had not committed to a home purchase. The results: 44 percent of respondents said they are holding out for lower rates. 41 percent said they were uncertain that they could qualify for financing. 38 percent reported that they were waiting for lower prices.
Based on the poll, it looks as if free upgrades, “green” features and granite counter-tops are not budging these fence sitters. If you want to know the secret to moving buyers off the fence, take a moment to read a short article about the #1 Secret to Selling Any Property.
Tip: Remember that internet marketing, with a listing on the MLS, is essential in helping buyer’s find your property. Even if your property is priced to sell, without these powerful tools, you are simply left waiting and hoping someone drives past your home and spots your for sale sign.
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Buying a Foreclosure is Pure Torture
If you think that banks or lenders are like desperate seller’s, who are willing to do anything in order to find a buyer for their home, think again.
Picture Your Serious Offer Here. Banks are completely under staffed in their REO and loss mitigation departments. Buyer’s and their agent’s report a wait of up to four weeks or more, before a file is assigned to a negotiator, who may or may not, open the file and start to process the offer.
My Way or the Highway. In addition to understaffing problems, lenders adhere to a strict checklist of requirements. If one item is overlooked or missing from their checklist, the file is routinely placed back on the bottom of the pile, where it can take weeks to resurface again.
Don’t Call Us, We’ll Call You. Lenders are famous for being non-responsive to offers, even if they are at full asking price. As a practice, banks hold offers and wait for better ones to come in, before responding. If you find yourself in a “multiple offer” game, be extremely patient. With a little luck, you may hold the winning bid, as other buyer’s drop out due to anger and a lack of patience.
Real Sellers Take Solice. While these cash ready buyers are pulling out their hair in frustration, both buyer and agent are powerless in communicating with or motivating the lending giants. If you are selling a property, you can easily give yourself a huge advantage by responding to offers in a timely manner, extending courtesy to prospective buyers, and by providing access to and information about your home when ask.
Get Ready, Get Set, Stop. Buyers seeking a foreclosure need to accept that both they and their agent’s are in powerless positions. Anyone who attempts to play the distressed property game, needs to accept that their efforts to buy a home will be futile, unless they have all the time in the world and the patience of Job.
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#1 Home Selling Secret
Home seller’s frequently ask if there is anything they can “throw in” to the deal to help their home sell faster? The truth is, not really. It is very unlikely that anyone would decide to purchase a particular home because it included a free trip to Hawaii.
Today’s buyer is educated, smart and they do their homework. They may love the fact that you are throwing your prized speedboat into the deal, but it doesn’t mean they will pay more because of it.
The ONLY thing a seller can do to increase the odds of selling their house is very simple. Price it competitively. Price it to Sell. The price is a much more powerful sales incentive than a free vacation, used car, furniture or a free granite countertops.
If you are serious about selling a home, get into A+ shape, stage it, post a listing on your local MLS and price it to sell.
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5 Area’s in a Home That Cause the Most Problems
Buying a home can be exciting and a little scary at the same time. Fortunately, you can save yourself a lot of money and trouble by focusing on the 5 Area’s of a home that cause the most reported problems.
5 Trouble Spots You Should Pay Close Attention To
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Attic: It is amazing what you can learn about the structure of a home by looking in the attic. You can easily see the framing, the condition of the roof and decking, and the insulation or lack of it. The attic is also a great place to find evidence of leaks, past or present, and any mold issues that may have resulted. Tip: If you see new insulation in some area’s, it usually means there has been a leak there at one time.
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Electrical: The electical system is a commonly reported problem in older homes and new construction. The best and safest advise here is to rely on the expertise of a good home inspector.
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Foundation: Foundation failures are expensive problems to fix. In addition, they can cause other problems that may be hard to detect. Although cracks do not always indicate a big problem, you should key in on any cracks in the foundation or siding. Watch for root invasion from tree’s that are planted to closely to the house. Also, check to be sure that all the doors and windows open and close properly. If not, it may indicate that the foundation is or has shifted. A professional home inspector will be very helpful in determining issues with the foundation.
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Landscape: Landscape can be a huge selling feature for any home and it can be an indicator of potential problems. If landscaping has been planted closer than 12 inches from the foundation, it is too close to the house. When plantings are too close, they can cause moisture problems and cracks in the foundation. Vines which creep up the sides of the house can push siding and brick away from the stucture, weaken mortar and cause staining. Large tree roots can upheave sidewalks, decking, porches and damage the foundation. Landscape beds should be elevated and sloped to drain all water away from the house and foundation.
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Plumbing: Water leaks are often hard to see and cause of a lot of expensive problems later on. In addition to undermining wood surfaces and flooring, leaks also result in mold issues that are difficult to treat and expensive to cure. Tip: Always look closely underneath sinks and plumbing fixtures to find evidence of mold or past water damage. Tip: Don’t forget to move the refrigerator out and look behind it.
The best advise when buying a home is don’t scrimp on your inspector. Hire a licensed, professional home inspector and follow them around throughout the entire inspection. The more you know about the condition of the property, the better off you will be. Remember that common sense, due diligence and a good inspector are invaluable and can help you avoid most of the costly mistakes.
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