Learn about the all-new Realtor.com
January 14, 2009 by Fred Romano · Leave a Comment
We are premium Realtor.com members and we showcase all of our listings on Realtor.com with additional photos, custom content, and optional Video Tours. Watch the video below to learn more about the all-new Realtor.com!
Reprinted from REALTOR® Magazine Online 2009 with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2009. All rights reserved.
5 Things to do Before You List
December 21, 2008 by Fred Romano · Leave a Comment
First, have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
Tips for handling buyer offers – Part 2
December 11, 2008 by Fred Romano · Leave a Comment
What do I do when I get an offer? That’s a common question from sellers. If the offer is at or above your asking price, the answer may be easy. But remember money is not the only consideration. In part 2 we offer more tips for handling buyer offers.
Consider All Offers!
You have 3 basic choices: you can accept the offer, reject the offer, or counter the offer with an alternate that better suites your needs. Consider all written offers signed by the potential buyer, but never sign more than one. You might end up paying 2 commissions or end up in court with an irate loser. Give consideration to every offer, even if it’s lower that what you want. Outright rejection is not a wise move unless you feel the buyer is just “fishing” for a low number.
Respond Quickly
When buyer make an offer they are in “the mood” to buy, but moods change, so be sure you respond quickly even with counter offers. Buyers are known to get “buyers remorse” in the middle of the night, so don;t delay in responding if you really want to make the sale. Also, keep the dialog going because it’s not unusual to have several bath and forth counter offers before you reach a deal.
Tips for handling buyer offers – Part 1
November 28, 2008 by Fred Romano · Leave a Comment
What do I do when I get an offer? That’s a common question from sellers. If the offer is at or above your asking price, the answer may be easy. But remember money is not the only consideration. You may prefer a lower offer with better financing or a stronger buyer, or a more convenient closing date. When all factors are favorable, and the price is right, set the contract and reel in your buyer quickly!
Aim For A Sale
Remember while your aim is to get as much as you can for your home, the buyers aim is to find your lowest acceptable price. In the end, however, you’re both angling for the same catch: a sale on the best possible terms for both parties.
Improvements That Pay
November 3, 2008 by Fred Romano · Leave a Comment
Which home improvements give the best payback? If you’re thinking about remodeling your kitchen, or finishing your basement, you probably want to get your investment back when you sell your home. But when it comes to payback value of home improvements, some are definitely more profitable than others.
As a general rule, kitchen and bathroom projects usually get a nice return on investment, typically 90% or more. Things like adding rooms or finishing basements tend to pay back the least. Finishing a basement usually returns less than 50%, so it’s not a project likely to show profit at selling time.
Showing Your Home
October 25, 2008 by Fred Romano · Leave a Comment
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. The first thing Realtors do when working with buyers is talk to them and learn about what kind of home they are looking for.
Then the agent will search the MLS for all the available homes closely matching what the buyer wants. Next, the agent puts together a list of the best matches to go show to the buyer. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them.
Why hasn’t my home sold yet?
October 12, 2008 by Fred Romano · Leave a Comment
There are many reasons homes don’t sell. If you’ve had your home on the market for several months and haven’t seen much activity or any offers, chances are that one or more of the reasons below are to blame.
1. Your price is too high
No doubt about it, the most common reason for a home not selling is that the asking price has been set too high. The reasons for setting your price too high to begin with are many. Ranging from over enthusiastic listing agents to unrealistic seller expectations. Regardless of the reason though, if you’ve priced your home too high, you’ve set yourself up for a number of obstacles to selling your home. Even if you do get an offer for the overly high asking price, the deal may fall apart before closing because the buyer may have problems financing at too high a price. Look at other homes for sale, ones as similar and as close to yours as possible. If they are going for less than you are asking, you may be priced too high. The fact is, your home is competing against those other homes, and what buyers are willing to pay is what will determine final sales prices.
4 Great ways to sell your home faster
October 10, 2008 by Fred Romano · Leave a Comment
If you’re having trouble landing a buyer for your home, maybe you need better bait. Crafty home sellers know incentives are the prize at the bottom of the box. By offering buyers something a little different, they can improve their chances of selling their homes quickly and for the price they want.
Here are just a few of the ways home sellers can sweeten the deal with extras.
1. Cover the buyer’s closing costs
Many buyers, preoccupied with saving enough cash for their down payment, overlook their closing costs which, at between 3 and 6 percent of the sale price, can amount to several thousand dollars extra. Offering to pay them on behalf of potential buyers may be just the push they need to close the deal.
2. Help the buyer get a better mortgage rate
Another potential deal sweetener is to offer to purchase discount points on the seller’s mortgage. Discount points are purchased up front in order to secure a lower interest rate on a mortgage — the more that are purchased, the lower the rate. In most cases, one point is equivalent to one percent of the loan amount and will reduce the interest rate by .25 percent.
10 Tips for selling your home yourself
October 10, 2008 by Fred Romano · Leave a Comment
If you ask anyone who has ever tried to sell their home themselves, they’ll tell you that from the moment the “For Sale by Owner” sign goes up, the phone begins to ring. Unfortunately, many of those calls will not be from prospective buyers, but rather from real estate agents looking to obtain your listing. Obviously the idea of not having to pay a commission to a real estate agent is attractive to any home seller. But because of all the issues involved in the process, selling a home on one’s own can be challenging.
The key is to be properly prepared. If you are not, your home could remain on the market longer than you expect because you are not attracting and getting offers from qualified buyers. This can be a point where many homeowners become frustrated and consider giving up their dream of selling their home themselves. However, there are sellers who accomplish selling their own homes, very well. You can be one of them.
1. Price it Right
Correctly setting your asking price is critical. Setting your price too high can be as costly as setting it too low. Home prices are determined by fluctuations in the marketplace not by your emotional attachment or by what you feel your home is worth. In order to establish a realistic price for your home, objectively compare the price, features and condition of all similar homes in both your neighborhood and other similar ones which have sold in recent months. It is also important for you to be familiar with the terms of each potential sale. Terms are often as important as price in today’s market. Carefully budget your selling costs and prepare a net proceeds sheet to calculate your best estimate of what you will take away from your home sale. Prospective buyers may also request this kind of analysis of buying costs.
25 Tips to sell for top dollar
October 10, 2008 by Fred Romano · Leave a Comment
Because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. Through these tips you will discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation, and make the most profit possible.
1. Understand Why You Are Selling Your Home
Your motivation to sell is the determining factor as to how you will approach the process. It affects everything from what you set your asking price at to how much time, money and effort you’re willing to invest in order to prepare your home for sale. For example, if your goal is for a quick sale, this would determine one approach. If you want to maximize your profit, the sales process might take longer thus determining a different approach.
2. Keep the Reason(s) You are Selling to Yourself
The reason(s) you are selling your home will affect the way you negotiate its sale. By keeping this to yourself you don’t provide ammunition to your prospective buyers. For example, should they learn that you must move quickly, you could be placed at a disadvantage in the negotiation process. When asked, simply say that your housing needs have changed. Remember, the reason(s) you are selling is only for you to know.
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