If it’s been a while since you put a home on the market (or it’s your first time), you might be wondering where to start. After all, it can be a little daunting taking on such a large responsibility. Many people postpone moving because of procrastination, uncertainty, and a general sense of being overwhelmed. Give yourself a few months’ lead time to prepare your home. With the right guidance, you can put the process in motion, start selling, and move on to the next place you’re meant to be. Here’s the quick breakdown of pre-market steps.
1. Choose a reputable Realtor®. If you liked the service of your past Realtor®, contact him again. A real estate agent is equipped to do all the local market research necessary to help you price your home right. His expertise is invaluable to your sale and he handles a lot of details regarding marketing, pricing, negotiating, and closing that would otherwise cost you a lot of time. Your agent will also give you an unbiased opinion about what you need to do to get your house ready for the market.
2. Declutter one room at a time. Get rid of knick knacks, books gathering dust, and furniture pieces that make the room look smaller than it is. Clear off all countertops in bathrooms and kitchens—the two most important rooms in your home. The objective is to enhance clean and clear spaces and get rid of visual noise.
3. Organize closets and cabinets. Buyers want storage space. Donate and trash items that you no longer need. Give them a nice, neat impression in the kitchen with mug handles facing the same direction. In the bedroom closet, face your shoes the same way and organize clothing by color.
4. Make minor repairs. Patch up holes in the wall. Fix doors and drawers that don’t close properly. Replace burned out lightbulbs. Fix leaky faucets and hissing toilets. Re-caulk tubs, showers, and sinks. Give dull or scuffed rooms a fresh coat of paint. A list of minor issues can add up to a poor first impression.
5. Deal with significant problems. The buyer’s home inspection will likely uncover whatever you’re tempted to hide. Then you’re in a lousy position to negotiate. Three typical options to consider regarding a significant issue with your home are (1) fix the problem before putting your home on the market; (2) price the property below market value to account for the problem; or (3) price your home at market value but offer a monetary credit for the problem. You risk turning away buyers who want a turnkey home if you don’t fix the problem, but you may still find buyers who are willing to do the repair themselves if they feel the price or credit adequately compensates for this.
6. Clean from top to bottom. Make all windows sparkle inside and out. Dust all surfaces and clean away cob webs. Vaccuum daily. Bleach dingy grout. Make the house shine! Hang up fresh hand towels in kitchens and bathrooms, and use clean, well-maintained bedspreads.
7. Create curb appeal. Spring is one of the best seasons to create appeal on the outside of your home. Maintain the yard, trim bushes and trees, and plant some flowers. Add pops of color on the door or with porch furniture.
8. Price it right the first time. It’s your agent’s job to do a thorough comparative market analysis of your home before putting it on the market. Savvy buyers will have done similar research, so it’s not wise to overprice your house and hope for the best. Homes that are priced right the first time sell faster and usually for higher amounts than homes that started too high and had to drop the price several times. Buyers perceive too many drops in price as an indication of something wrong—so they either ignore the house or present lowball offers.
It’s no secret that homes sell faster and for more money when they are staged properly and priced right. Give yourself time to appropriately prepare your home for the market so that you can put your best foot forward from day one.