What You Should Know About Real Estate

As you know I have been in the real estate business for more than 35 years and it is a safe statement to say “I have just about seen it all.”  There are several things that I wish were common knowledge among the general public, those tried and true facts that rarely change no matter what type of market we are in.  So, today I am going to mention a few of the most important things I wish everyone knew about real estate:

·         Want to sell your home quickly?  Then price it just under market value.  As a seller your best advantage is to price your home so that it is compelling and enticing to buyers.  Sellers often think “just below” means leaving a lot on the table that is not what I am suggesting!  Besides if you have “cash in hand” from your sale to take to your next home purchase you are in a powerful position!  Let’s say that similar homes in your neighborhood are selling for $210,000, then price yours at $200,000 or even $199,000 – getting just below that traditional cut off point of $200,000 can bring more buyers than you will see at just over that mark.   The longer your home is on the market the less likely you are to get fair value, so position yourself to be the one that sells instead of the one that languishes on the market. 

·         Buyers – a pre-approval letter is just the beginning.  Many buyers tend to believe that once they have their pre-approval they are good to go and they begin using credit for new items for their home, or they change jobs!  DON’T do that!  Never get new loans, or start using credit cards, or change jobs.  Just before you actually go to the closing table your lender will update your financial information and if anything has changed it could cost you your new home.     

·         Selling a house probably takes longer than you think.  There is a typical timeline for every real estate transaction, and it is not something most home sellers fully acknowledge, no matter how many times your agent explains it. 

·         Not all buyers are able to buy.  Many buyers get a pre-qualification letter and believe that means they are able to buy.  There is a difference between pre-qualification and pre-approved – a pre-approval involves a lender actually verifying the financial data that a buyer provides.  Also remember some buyers will change their financial situation before closing (see item #2 in this list). 

·         The little things make a big difference when selling your home!  REALLY!   Sellers tend to drag their feet about different things I suggest when we are discussing how to present your home when buyers are viewing it.  When buyers walk into your home it should be in showroom condition, they need to have the home look good, feel good and smell good!   Have the beds made, laundry and toys picked up, counter-tops cleaned off, closets clean and organized.  Have lights on and the room temperature comfortable (warm or cool depending on the season), soft music playing and make snacks or fresh baked cookies are always a nice touch too!  Make the buyers feel welcomed!  One more big point on this topic – be flexible and ready!  If someone calls and wants to see the home in the next few minutes – say YES and be ready, last minute type buyers typically are more serious and ready to buy! 

I love my job and I really do enjoy helping people realize their real estate dreams and plans, contact me and let’s talk about  yours!  

Carol Murphy

Keller Williams Greater Cleveland West ~ Carol Murphy Team

Avon Lake Homes For Sale