What are the Most Important Steps before selling your house?
It is the question that most clients fail to ask, however, it is perhaps the most important. What are the most important steps that I should take as a seller in order to be prepared to sell my home?
Commit: Decide if you are a seller or an owner. What? Yes, there is a big difference between being a seller and being an owner. As I wrote in a previous blog about the state of real estate in Escazu and Santa Ana, we are in a buyer's market right now. When you think about selling your house, if the first thought that comes to your mind includes the phrase, " I don't need to sell, but I would sell if...." Or, we are extremely happy and really don't want to sell, but if the right person comes along to pay what we want..." If we were playing $100,000 pyramid, these would fall into the category of "Things an Owner would Say". Real Estate, like anything else, is a matter of supply and demand. Properties, no different than cars, clothes, rings, or a bottle of water, are worth what the market is willing to pay. So, the critical step in preparing to sell is to understand the market that you are in. Allow your broker to educate you about the likely market price for your property, and then make a decision about selling. If you are in agreement with the pricing, and are willing to sell, then Commit to selling. That is the critical first step any seller should take. Likewise, if you are not willing to accept the price in today's market, that is too, a respectable position that your broker should understand. If that is the case, do not try to challenge the market, or hope that a buyer will ignore the market realities and overpay. Decide whether waiting for a better market is best for you, and move on. Your broker will be there to service you in the future. Just be sure to ask your broker/agent what their outlook is for the future so that you can decide whether today's outlook may just be better than the one you thought you should wait for.
Depersonalize: Once you commit to selling, and have come to an agreement on a price and conditions with your agent, it is important to keep in mind that once you sell, you will not be living there. Ok, I know, seems obvious. But the point is that while you may love seeing 650 picture of your children on the mantel, and cherish the trophies from their collection of sports over the past 15 years that line the hallways of your home, or enjoy the pain felt from stepping on legos barefoot to bring you back to the childhood memories of the past...most buyers will not. Furthermore, while we as agents may love the flourescent purple wall that you painted in honor of your favorite local soccer team, the buyer may prefer red, for example...quick hint, stay neutral. While a buyer's market is not a time to invest heavily before selling, a neutral paint job on the house is one of the things that will likely make the house more appealing to a broader market. Back to the clutter: get rid of it, or organize it. I am not saying to sell your kids favorite toys that they still use. Nor would I recommend to put your life on hold while you await a buyer. But, learn to stay organized as buyer visits can often be spur of the moment and as the old saying goes: you have one chance to make a first impression.
Leave the home: I will start by saying, you should not sign a listing agreement with an agent or broker until you are 100% comfortable with them. However, after you have taken that leap of faith and your agent has gained your trust, it is important to allow them to do their job. That does not just mean marketing the home. It means that when your best friend who is an agent asks if they can bring a buyer, you should refer that agent to your exclusive agent. Let your agent work for you as it will procure the best outcome. Most importantly: when your agent has confirmed an appointment, the only place that you should not be is home. I understand. The temptation to want to meet the buyers; the desire to be sure that your agent points out the crown molding, or the imported Brasilian stone that you handplaced in the garden, or how nice it is in the evenings to sit on the porch and have wine, and that you really love living there, but the place is just too big now that the kids are gone.....BUT: no offense, buyers do not really care. Moreover, all of the characteristics of the home should be transmitted to your agent with whom you have entrusted the responsibility of representing you and your home. Allow them to do the work for you. As a seller, you want buyers to feel at home which is something they will not feel if they are in YOUR home. It is important to allow them time to visualize themselves in their new home. How will their furniture fit? How can they close the open kitchen that you love so much? How will they decorate the house? And how will they get rid your favorite chandelier that was handed down from your great grandmother but just won't fit in your new place? "WHAT? How could you not want that? Why would you want to close the kitchen? That is the best part of the home? " Remember, it is not your house after you sell, and allowing a potential buyer to comment openly to the agent about what they love, and yes, what they don't love about the house, provides an open dialogue to work towards an offer. If you are there, a buyer will respectfully tell you how much they love everything that you have done with the place, even if they want to rip everything apart and remodel completely. However, when they leave and tell the agent they didn't like the yellow walls which can easily be solved with a coat of paint, it will be too late. They are not in the house, and can no longer envision themselves there...if they were at the house, alone in the condfidence of their agent, they could comment on how much they hate the color yellow, and your agent can quickly respond to remind them that for "s" and two days, that problem can be easily addressed and to be sure not to get stuck on that. And guess what, they won't....but once they leave, it is too late.
I recently took some clients to view a home with a trusted colleague who represented the sellers of the home. It was an agonizing 20 minutes watching the very seasoned agent be interrupted constantly by the owner of the home. The owner explained why they chose the color, how they designed the living room space, how nice the backyard was at sunset with the gleaming light on the grass...the agent smiled at me as we both knew the result of show the seller was putting on. We walked out of the house, said goodbye to the agent and the seller, and the buyers turned to me immediately to discuss how uncomfortable they felt and why a seller would ever put themselves, much less a potential buyer through that....ECHO, ECHO. There is a great coffee shop around the corner, a quick walk with the dog, or whatever makes sense during that time of day. Your professional agent will give you a full debriefing and feedback from the showing. Trust in them to do their work and you will always achieve better results.
So much more to come on this topic, but this is a start for now...