Archive for Selling a home as is

Types of listings for selling a home as is

April 17, 2009 at 8:03 am · Filed under Selling a home as is ·Tagged , , ,

While selling a home as is, it is important that your home is marketed well for attracting buyers who are willing to pay top dollars. Listing your home for sale is a good way of promoting your home and will certainly help in attracting the most suitable buyers. However, the type of listing you select will depend on your ability and willingness to carry out the home selling duties and the existing real estate market conditions.
While selling a home as is, it is important that your home is marketed well for attracting buyers who are willing to pay top dollars. Listing your home for sale is a good way of promoting your home and will certainly help in attracting the most suitable buyers. However, the type of listing you select will depend on your ability and willingness to carry out the home selling duties and the existing real estate market conditions.

An �open listing’ is a non-exclusive agreement wherein you are allowed to execute open listings with as many real estate brokers as you like. Brokerage is paid only to the broker through whom you eventually sell your home. The amount you pay is usually a selling broker commission, equivalent to one half of what is paid in other type of listings. The broker is paid for representing the buyer and not for representing the owner. Although many full service real estate agents shy away from open listings, these can be beneficial as you will not have to pay any commission if you find a buyer on your own.

Another type of listing is commonly referred to as �exclusive agency listing’, which is similar to open listing. The only one major difference is that the broker is paid for representing the owner. Here also, you are allowed to sell your home on your own. The broker is free to contact other brokers and the amount paid as listing commission to the broker is shared with the second broker, if eventually the home is sold through him.

The most commonly utilized instrument is probably the �exclusive right-to-sell’ listing, wherein the broker has exclusive rights to earn a commission by representing the owner and getting the right buyer either directly or through another broker. In this type of listing, the owner pays both the selling as well as the listing commission. The owner can sell the home on his own but only after paying the requisite amount of commission to the broker.

The amount paid as commission varies depending on the existing demand and supply scenario. For example, when the markets are full with listings and buyers are relatively fewer, you may decide to pay more to the selling office for generating more traffic. If the listing broker wants to offer 2.5 percent to the selling office out of the total commission of 6 percent, you may insist on paying 3 percent instead.

The duration of listing is usually negotiable and can extend for a period of 30 days, 90 days, six months, one year or more. Conditions regarding cancellation of the listing agreement need to be set beforehand, so that you can cancel the contract if you feel dissatisfied with the services offered at anytime during the contract period. Any broker who allows you to cancel a contract is actually giving you a guarantee and in such cases, the duration of contract does not matter. In cases where the listing agreement expires without mutual renewal, the listing broker may still provide the owner with a list of names of prospective buyers. If the home is sold to any of these buyers within the specified time period given in the agreement, the owner is required to pay the requisite amount of commission to the broker.An �open listing’ is a non-exclusive agreement wherein you are allowed to execute open listings with as many real estate brokers as you like. Brokerage is paid only to the broker through whom you eventually sell your home. The amount you pay is usually a selling broker commission, equivalent to one half of what is paid in other type of listings. The broker is paid for representing the buyer and not for representing the owner. Although many full service real estate agents shy away from open listings, these can be beneficial as you will not have to pay any commission if you find a buyer on your own.
Another type of listing is commonly referred to as �exclusive agency listing’, which is similar to open listing. The only one major difference is that the broker is paid for representing the owner. Here also, you are allowed to sell your home on your own. The broker is free to contact other brokers and the amount paid as listing commission to the broker is shared with the second broker, if eventually the home is sold through him.
The most commonly utilized instrument is probably the �exclusive right-to-sell’ listing, wherein the broker has exclusive rights to earn a commission by representing the owner and getting the right buyer either directly or through another broker. In this type of listing, the owner pays both the selling as well as the listing commission. The owner can sell the home on his own but only after paying the requisite amount of commission to the broker.
The amount paid as commission varies depending on the existing demand and supply scenario. For example, when the markets are full with listings and buyers are relatively fewer, you may decide to pay more to the selling office for generating more traffic. If the listing broker wants to offer 2.5 percent to the selling office out of the total commission of 6 percent, you may insist on paying 3 percent instead.
The duration of listing is usually negotiable and can extend for a period of 30 days, 90 days, six months, one year or more. Conditions regarding cancellation of the listing agreement need to be set beforehand, so that you can cancel the contract if you feel dissatisfied with the services offered at anytime during the contract period. Any broker who allows you to cancel a contract is actually giving you a guarantee and in such cases, the duration of contract does not matter. In cases where the listing agreement expires without mutual renewal, the listing broker may still provide the owner with a list of names of prospective buyers. If the home is sold to any of these buyers within the specified time period given in the agreement, the owner is required to pay the requisite amount of commission to the broker.

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12 Quick Tips on Selling Your House

April 15, 2009 at 11:13 am · Filed under Selling Houses Fast, Selling a home as is, Want to sell your home?, buy sell home

You’re going to sell your home. You could go at it bald-headed, or think for a bit. Imagine you were a potential buyer; what would be foremost in your mind?

Here are some simple and inexpensive ways to get the best price possible:

1 – Determine the fair market value for your house.

The best way to sell your home is by having the right price. Buyers will be looking for a deal. You might be looking to make some money but don’t over-price your home. Doing so will ensure you don’t sell it right away. A home that sits on the market too long is unappealing. This makes people afraid to buy it.

2 – The front of the house is where the first impression starts.

If you want to sell your home, make the front look perfect. Start with the outside. Lawns should be well mown and landscaped. There should be nothing to distract the eye from its best features. Tidy, clean, uniform and pretty should be your watchwords. The first look will sway buyers towards or away from your home.

3 – Remove your personal items.

Most lived-in homes have pictures and items of sentimental value. Remove them when the home is being shown. Buyers don’t want to be attached to your memories. They will want to see the quality of the walls, not your pictures of your family or your knick-knacks.

4 – Clear out clutter.

Every home has clutter. If you’re showing your home, do your best to remove yours. Remove anything you don’t need. Pre-pack and place the packed items in storage. Then buyers can have a better look into their potential property.

5 – Keep colours neutral.

Spruce up a home before sale by painting it. Paint your home in neutral colours. People will shy away from a home with highly coloured walls. They may not like your colour choices. Buyers do not want to paint the minute they move in. Most look for colours they can live with or mould around their decorations.

6 – Keep your kitchens and bathrooms in good shape.

Homebuyers pay special attention to these two rooms. They must be spotless. Keep the rooms well lit. If you have newer appliances and plan to leave them, have buyers check them out. They will be more interested in these special incentives.

7 – Never apologise for your home.

Your home is what it is. You should not apologise for that. By apologising, you give the buyer a reason to consider another home. If you are not proud of your home why would they want to be? If your home has problems, then offer solutions. Never apologise for what is yours.

8 – Work with your agent, not against them.

Help your real estate agent to sell your home. Give them the information they need and step back. Don’t go behind their back and try to sell your home. All showings should go through the agent. They have the experience to get the job done. If they didn’t you would not have hired them.

9 – Only show by appointment.

If you want to see serious buyers you should have them screened. Many sellers only allow showings to pre-qualified buyers. Your agent can set this up. They will weed out the dilettantes. If a buyer shows up without an appointment, give them your agent’s card. Have them set one up.

10 – Sell before you need to.

No one can give you a definite time frame to sell your home. You should put it up for sale before you plan to move. Putting the home up for sale three to six months before you plan to move gives you leeway. Once you have a serious offer you can begin looking for your new home. You won’t have to worry about trying to offload your home quickly. You will get the price you deserve, not the price you must settle for.

11 – Advertise.

This should be your realtor’s job. He should have an advertising plan. Find out what it is before you sign a contract. Make sure your home is listed in as many places as possible. A good price won’t help sell your home if no one knows it’s for sale.

12 – Remove emotion from the sale.

You have fond memories of your home. The buyer will not. They will notice every flaw. They will not care about your reason for selling. They will care about making a deal. Make sure when you look at offers you do so rationally. Don’t let emotions rule your sale.

In your mind, have already kissed your house goodbye, and take your wonderful memories with you. This will make the sale easier. In the end, realise that a house is a material thing, and that all such things are transient.

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Staging Your Real Estate for Potential Buyers

April 15, 2009 at 8:43 am · Filed under Basics of Real Estate, Best Way to Find Deals, Best commercial real estate, Selling Houses Fast, Selling a home as is, buy sell home

An empty house is like a blank piece of paper that needs to be transformed into a book report. It can feel overwhelming to have to make a home out of an empty canvas. That’s where staging comes in. Staging helps potential buyers visualize how they can arrange the home to their liking.

While professionals can be hired to perfect your house’s appearance, there are plenty of simple ideas and tips that can help you increase your selling power on your own. Some of them are listed below.

Curb Appeal
The most obvious place to start your sprucing up is outside. The exterior of your home is what will entice buyers to enter. A fresh coat of paint, preferably in a neutral color, and a well-manicured lawn can make a huge impact. If you want to go a step further, break out your green-thumb and plant some colorful flowers that compliment the house paint and trim, and remember to keep your foliage within your property. Tree limbs that cut across lawns are not only unsightly, but a buyer does not want to worry about arguing with a neighbor over property lines.

Clean and Minimize
The first step to staging the inside of your home is, of course, making it as clean as humanly possible. Get the carpets steamed, corners scrubbed, and degrease the kitchen. Your house needs to sparkle.
Another way to keep your house looking fresh is to minimize clutter and get organized. Although you want buyers to be able to visualize how furniture can be arranged, they don’t need to see your stuffed animal collection showcased on the couch or know how you like to use old CDs as coasters.


A Wide Range
You are attempting to make the house enticing for as many people as possible. So ditch the sewing rooms, arcades, and exercise equipment. Most people aren’t looking for an extra bedroom to turn into a personal gym. Bedrooms should look like bedrooms. Don’t have an extra bed? Throw a box spring on some milk crates and cover with a comforter instant bed.
Keep in mind your location as well. If you live in a city full of young, single business men and women, consider making one of the rooms as an office. Regardless of how you decide to delegate extra rooms, be sure they have a clear purpose. A bed, computer desk, and mini-fridge all crammed into one room will only confuse buyers.

Details
Although it is better to keep your staging sparse, a few inviting touches can balance out any coldness. Open the curtains and let the natural light in so people can see how bright and airy the home can be. Use adequate lighting where necessary and put up a few pleasant wall decorations and some fresh flowers. Turn on some calming music and add a couple puffs of air freshener. You are having guests over, after all.

Staging can make a huge impact in the way potential buyers view your home, so spend the time and put in the effort. It might make the difference between a quick, profitable sale and a sluggish return.

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Benefits of FSBO

March 17, 2009 at 8:01 pm · Filed under Selling a home as is, buy sell home ·Tagged ,

There are two ways to sell your home: by going through a realtor and by doing it yourself. The do it yourself method is also known as for sale by owner. As with anything that requires professional assistance, selling your home with the aid of a realtor is going to cost you. On the flip side however, selling your home for sale by owner can also cost you, but not as much.

The choice comes down to the question of what you would most like to save, time or money. If utilizing a realtor you will save yourself some time but not necessarily loads of time because there is a level of involvement that you must maintain in order to pick out the best deal for your specific situation. If selling your home for sale by owner, you will indeed save yourself loads of money because the only thing you are paying for out of pocket is the cost of your advertisement methods.


Selling your home through a realtor can be not only an expensive method but also a difficult selection process when trying to decide which real estate agency to go through. Once this decision is made, you must now work with the realtor to negotiate your terms and conditions for the sale of your home.

The realtor is paid according to the final selling price of your home. A commission of anywhere from 1 to 3 percent is charged at the closing. It goes without saying in this situation that a benefit of for sale by owner, selling without the aid of a realtor is one of cost. Simply put, you get to keep the proceeds of selling your home if you do it yourself.

Although real estate agencies gain exposure in the world of potential homebuyers by the use of their companys name, your for sale by owner home does not get individual exposure on the level that would be given to it if you were to do your own advertising. A for sale sign does indeed go in the yard of your home with the name of the agent as well as the agency and a contact phone number, but this is comparable to placing a for sale by owner sign with the same information, sans the agency name.

The remainder of the process involves the home being listed in what is known as the MLS, or Multiple Listing Service. This is a long list of homes being offered for sale by numerous real estate agencies. Once again, your for sale by owner home will not be given the specific exposure it could be given if you were to do your own advertising.

The true benefit of selling your home for sale by owner versus utilizing a real estate agency is the control factor. You are in complete and total control of the entire transaction from start to finish. This is often the most necessary factor in selling. With yourself in the proverbial drivers seat, you are free to advertise in the way you see fit and to use the method you see fit. You are also free to keep all profits from the final sale, and this is usually enough to reassure the seller that the for sale by owner route is the right path to take.

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Win the Race to Sell House

November 22, 2008 at 3:40 pm · Filed under Seller Can Get a New Loan, Selling Houses Fast, Selling a home as is ·Tagged , ,

Today’s home seller needs an edge to make their homes stand out in a buyer’s market. Besides making their home most desirable, sellers need to monitor all aspects of their sale.

Selling a house is like a steeplechase race horse jumping over hurdles. Some race horses make the jumps look so easy; they run and jump in rhythm under the jockey’s guidance. The home seller’s job is to make home buyer’s hurdles easy to jump. Home buyers make up their minds about a house on each step they take or every barrier they cross. As a home seller, you need to make sure your buyer crosses each barrier. Here are eight hurdles for you to win the house race.

Hurdle #1 Listings and Ads

Buyers make up their mind about the advertisement or listing whether or not to continue reading. That means they approve of the basic features and price.

They must see something in the advertisement or listing that makes your house stand out in a crowded market. To entice a buyer to pick up the phone and call about your house, the buyer must read some benefit that they want. This should be your property’s best benefit to the buyer, such as "Live across from Eagle Point Park; enjoy the views and playgrounds" or "Move right in without fixing or painting a thing. Owners will even help with your costs."

Hurdle #2 Yard Signs that Attract Attention

The yard sign should look professional and not take away from the appeal. Many over-sized yard signs clutter the landscape. Put the sign to the side a bit and consider a shorter sign for smaller houses.

Instead of wasting words with the all the amenities, make the phone number legible from the street and list the best feature not obvious from the curb.

Hurdle #3 Non-Generic Sales Flyer

Perhaps a house shopper will be interested enough to get out of their vehicle and pick up a sales flyer. This means that the flyer needs to be written with sales copy that gives motivation to see the property. A "ho-hum" generic flyer with a long list of features should be rewritten using Marketing Psychology with strong benefits to the buyer.

Hurdle #4 Curb Appeal

When shoppers pull up in front of your house, the first glimpse must impress them enough to get out of their vehicle to see what’s inside. For condo sellers, the development has to pass approval and your unit should stand out with added appeal like large potted plants near the door in colorful containers. The typical house needs pizzazz near the front door to draw the eye into the house. You must entice the buyer to cross the threshold to see what’s inside.

Hurdle #5 First Impression

Inside, the typical house shopper makes up their mind within 15 seconds whether or not they’re interested in your house. This is why the first sighting inside must pass inspection and peak interest.

Hurdle #6 Lasting Impressions

To encourage shoppers to spend more than the usual four minutes previewing a house, use home staging strategies. Buyers select a home based on their emotions. They choose the home they connect with and one they think "feels like home." This just doesn’t happen in four minutes.

Houses that spark fantasy about living in the home, enjoying a better lifestyle, and entertaining friends help buyers make up their minds.

Hurdle #7 Easy Purchase

Buyers make offers on houses when they feel comfortable with the paperwork. If you’re selling by owner, have a basic contract on hand that doesn’t confuse buyers and have a closing agent or escrow officer draw up the formal documents later. If you’re selling by agent, your agent must be trained on how to handle negotiations beyond just filling out forms.

Hurdle #8 Keep Sale on Track

During the sale process, monitor all the closing details. Keep your home staged for the most important date: appraisal day. Invite you buyers to return early in the sale for their walk through so they stay "in love" with your home. Make sure all the appointments are made and kept, such as inspections, and contracts signed on time.

Turn house shoppers into motivated buyers, help your buyers jump the hurdles, and you’ll win the house race.

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