I have a few thoughts and suggestions for those of you who are thinking about putting their home on the market as a “for sale by owner”.
- When you first decided to list your home, how did you come up with the price? I spend hours pouring over not only recent sales in the area but active comps. I have often been in the homes, so I have a very good feel for the real estate market in the area. You won’t have access to the same information I do, but you can use visionappraisal.com (in New Milford and some other area towns) to find recent sales with basic information about the homes.
- Did you decide that you needed to add negotiating room to the price? A bit of room might be ok, but too much can knock it right out of the reality ballpark! Example, if your house is worth $350,000 in today’s real estate market and you listed it for $400,000 to build in that negotiating room, your price is telling both agents and buyers that you are overpriced and unrealistic.
- Did you clean up your house, clear the clutter, make it as attractive as possible to a potential home buyer? If you are unable to do any work, price it according to its condition. Remember, COMPETITION IS FIERCE!
- Did you made it easy for your house to be shown? Lock box, easy showing instructions, signage, these are all very important. Buyers want easy access to a house. Example, I tried for 3 weeks to show a house, it was never available. Home owner had animals, no one else was allowed to remove them for showings, no contingency plan was made. We moved on. Do make sure you know who the agent is, and they are really a licensed real estate agent before giving them access to your home!
- Did you make sure your home was placed on both multiple listing services for Connecticut? This is very important as you will want maximum exposure to as many agents as possible for your home. Also make sure you offer out a buyers agent compensation if they do bring a buyer to your house.
- Do you have an online marketing program? The MLS will push the listing out, but it may not push it out to as many places as it should be. Also make sure that the photos you take are high quality, showing your home in its best light possible. (photoshop-ing those power lines out of the picture is not a good idea at all, by the way)
(It is also important for you to know that if a real estate agent does indeed bring a buyer, they do not work for you. They cannot assist you in any way, shape or form with the sale. Your offer of compensation is paying them to work for their buyer only!)
If you want to star in the movie “Success of a Sale” rather than “Death of a Sale” in the greater New Milford, CT area of Litchfield County, give me a call. I will go over the current real estate market with you, suggest what you need to do to get your house ready to sell in this very fierce and competitive market. I will show you my custom marketing program, making your home as attractive as I can to the widest variety of buyers possible.
If you decide to list your house on your own, that’s great too! I can still give you a few pointers and leave you with some of the disclosures you will need to sell your home, local area market reports and some tips to make your home more sale-able.