Archive for Selling Houses Fast

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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Selling Houses Fast

January 26, 2009 at 6:36 am · Filed under Selling Houses Fast

One of the most common things people fear about getting into real estate is they’re afraid they can’t sell the house and somehow they’ll get stuck with it. I can understand why this would create anxiety for a beginner because they simply don’t have enough facts to overcome the fear. However, if you’re not a beginner and this is still a problem, there’s no excuse for it. So let’s get it fixed right now.
The truth is . . . selling should be the easiest part of your business
Are you not buying because you’re waiting to sell what you have first? Is your income suffering because you haven’t plugged the hole in the back end? Are you so afraid of selling you quit (or never started) buying?

In this article, I’ll discuss the reasons why some people have trouble selling and how to fix them. In addition, you should know we now have a live, two-day boot camp I teach focused on the same thing…Selling Houses Fast.

I’ve identified 14 reasons here. Pay close attention to numbers 4-7 because combined they equal about 80% of why houses don’t get sold quickly.

Most of the time it’s a people problem, not a house problem. So here we go, in no particular order.
Why houses don’t sell quickly…
1. Not ready to sell.

2. Poor area.

3. Over-priced.

4. Salesperson’s personality problems.

5. Inflexibility of seller.

6. Salesperson’s lack of knowledge about financing programs available.

7. Salesperson’s lack of knowledge about attracting & prescreening leads.

8. No follow-up system in place.

9. Functional obsolescence.

10. House very small.

11. Salesperson loses control of the loan process.

12. House located too far away from the city.

13. House is in high price range where few buyers can afford.

14. Only one bath.

Notice the majority of these problems are directly related to the person in charge of making the sale…and the rest should be fixed before you buy.

1. Not ready to sell.

2. Front appearance – Would you want to see the inside?

3. Roof – Does it need to be replaced?

4. Exterior paint – Is it at least 2 colors and looks fresh? Are the colors pleasing or gaudy?

5. Interior paint – Is it two colors or does it look like a white tornado went through it?

6. Interior trim – Is there color, paper borders, blinds, bath and kitchen accessories, lever door handles, shower curtain or door, etc.?

7. Carpet – Same old lifeless, ugly brown or have you tried hunter green? Would you want this carpet installed in your home?

8. Central heat and air – If you’re in the southern two-thirds of the country, it’s not an option. Do it.

9. Kitchen – Does it have plenty of cabinets or just enough to get by?

Customers won’t complain about shoddy repairs. They just won’t buy.

If it doesn’t look good enough to satisfy your wife, your buyers won’t like it either. Spend a few more dollars and make it a house you can be proud to sell and know your buyer will rave to others about.
If you do, amazing things will happen.
1. It will sell quickly.

2. It will appraise for more.

3. You’ll sleep good at night.

4. Your buyers will send you customers.

5. Your good reputation will spread quickly.

6. The neighbors will send you customers or sell their houses to you.

7. Your attitude will improve and you’ll enjoy dealing with buyers more because you know you have a great product.

8. You’ll save the extra money you spent in holding costs. So, in reality all these benefits are free.

9. It’ll probably even improve your sex life. Think about it. More sales means more money. More money means happier spouse or significant other. Happier spouse means more frequent and better sex. I heard that on Oprah the other day.

10. Poor area.

11. Is it a war zone? If so, you must learn to sell low income houses or don’t buy there if you intend to retail.

12. In low income areas it’s critical you master the art of financing. You will not survive if all your sales must be to a buyer or sold for 100% cash out.
Get educated or get out.

The good news…
A. You can make some large spreads on these houses because you can buy them dirt cheap.

B. Most of your competition won’t touch them.

C. They’re easy to find and easy to buy.

D. At today’s interest rates buyers can qualify with small incomes.

E. Financing is plentiful. Some with no down payment.

F. You can always wholesale if rehabbing isn’t feasible for you.
The bad news…
A. Vandalism is normal.

B. You’ll have to screen out a lot of buyers.

C. You’ll be tempted to break the law by falsifying down payments because most of your buyers are broke. Don’t do it.

D. You’ll have to take back a lot of seconds and 50% or more will default. So what? It’s all free money anyway.

If you’re going to work the low income or war zone areas, just be sure your exit is clear and you don’t get into any traps. Don’t rehab in a war zone unless you know where to get the buyer financed. You’ll find a buyer who wants to live there and you can live with vandalism.

In addition, you must be flexible on terms, not expect to get cashed out 100% and clearly understand you will be prescreening one of the most uneducated segments of our society. It will take patience and practice.
3. Overpriced Is Not What You Think
Just for the record, all my houses are overpriced. And I’m proud of it, in case anyone asks. You should always set your sales price higher than what the house appraised for. If you don’t ask for more I can assure you, you won’t get it.

But there is a limit. You can’t go nuts on me here. Putting a $125,000 price on a $100,000 house is pushing the envelope. However, putting a $109,900, or maybe even a $114,900 price on it may work fine.

Your market will tell you quickly. If the buyers all complain about the price, you know you have a problem and you may want to lower it a little.
Warning!
Make sure the price is the problem before you go fixing what isn’t broke. Only your buyers can tell you the price is too high. Not your spouse, your neighbor, your brother-in-law or even your Realtor. If I had $100 for every time a Realtor told me my price was too high, I’d be in a higher tax bracket. Actually, that’s not true. They don’t get any higher.

You can always lower the price. You can’t raise it once it leaves your lips. I don’t know for sure but I bet I haven’t lowered the price on more than 15% of all the houses I’ve done to get them sold. As a rule, a 10% above appraised value or good comps is the upper limit. You’ll have to decide the price based on the area, condition, salability and heat of the market. Just don’t be giving away money because you’re listening to morons.
4. Salesperson’s Personality Problems
Have you ever talked to a seller or a Realtor you didn’t like? A mean-spirited, grouchy, personality perhaps? How about someone who just won’t shut up long enough for you to ask a question? Maybe you’ve encountered the prescreened type who treats you like the enemy until you pass their qualification test.

How about all those times you got the wife on the phone and she was afraid to speak without her husband’s permission, or vice versa. That doesn’t even count the ones who do talk but never say anything. Then there’s the clueless spouse who can’t even tell you the asking price, much less the other details. Sometimes I wonder if these folks ever talk.

How about the couple in the middle of a divorce who talk to you like you’re the one who just slept with their spouse? Then there’s the know-it-all. You know, the kind who wants to do a seminar for you on the phone to impress you with their intelligence in the art of real estate. They can’t sell their own house but they can certainly tell you how to do it.

Of course we can’t forget all the thinker brains trying to sell to the reptile brains, and vice-versa. Or the sellers so in love with their house it takes them 30 minutes to describe every little detail while you’re trying to stay awake. Gosh, I’m getting depressed just writing this. I don’t want to ever talk to a seller again. Just kidding.

The key for you is not to become like one of those people I just described. If you already are, you can fix it once it’s identified. Here’s a hot tip. Record your calls and listen to yourself selling your house. If there was a moron on the call you’ll probably recognize his/her voice.
5. Every Single Time You Talk to a Buyer You Must Sound…
Friendly, Flexible and Excited
If you can’t, get someone else to sell your houses, which is a whole other subject I’ll cover next month.
Inflexibility of seller
That means most sellers can only see one way to sell a house and if that isn’t happening the house will sit and sit until that perfect buyer comes along. Finding an A credit buyer to cash you out isn’t the only answer. This is especially true for the low-income houses where A+ buyers are scarce.

The more you know about different exits, the easier it will become for you to get flexible. If you don’t have your money in the deal and you can live another week without the cash from the sale, it frees you up to get creative and look at other alternatives.
Here’s a news flash for you . . .
It’s your job to find a buyer who loves your house . . . then make it work!
That means sometimes you must be flexible. It’s not a perfect world. Bend a little. Here’s a short list of selling methods.

A. Sell to a qualified buyer and cash out now.

B. Lease option and cash out later.

C. Sell with owner financing and help buyer get refinanced later.

D. Sell with owner financing and sell the note at closing for 93% of its face value. We spend a whole day on this in the Paper Power Boot Camp.

E. Get the buyer an 80% – 90% loan with a secondary loan at a higher rate and take back a second for the difference.

I bet you didn’t know you could be that flexible did you? Sorry, I can’t go into these in detail here but I think you get the message. There’s always another way.
6. Salesperson’s Lack of Knowledge About Financing Programs Available
No, this is not the same thing I just said. If you’re going to master your craft of selling houses you must learn a lot about financing programs.

What will kill loans? What programs require little or no down payment? What credit can be fixed and what can’t? What will the lender want fixed before closing? Who will let me take back a second and who won’t? And 40 or 50 other questions you’ll get the answers to as you go.

You don’t have to know all there is about financing to sell a house, but the quicker you learn, the easier it gets. Make an appointment with 3 or 4 mortgage lenders and pick their brain. Let them help with what will work and what won’t. Then when you get an interested prospect it’s simply a matter of getting the buyer’s information to the lender of your choice and letting them tell you what will work.

That’s the best way I know to learn the ropes about financing. But you know what? A lot of veterans won’t even take time to do this. I guess they feel they’re too good or too smart to humble themselves and actually ask for help. My friend, what you knew about financing a year ago is not what you should know today. It changes monthly. You must stay on top to be the best.

In the next issue, I’ll finish my list of reasons why houses sometimes won’t sell. In the meantime, read over these pointers I’ve given you and start developing your own selling strategies.

Here’s hoping all your houses sell faster than you can buy them.

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Sales Price and Interior of the House

January 9, 2009 at 6:15 pm · Filed under Selling Houses Fast, Want to sell your home?, buy sell home

Price is often considered the most critical factor that determines the sale of a house. It is very essential to set a genuine price, based on quality, since the price often makes or mars a deal between a seller and a prospective buyer. It should complement the present condition of the house. If the price is not in line with the latest rates in the market, chances are that you could lose out on a profit. The interior of the house plays a significant role in affecting the sale price. Therefore, it is worthwhile to spend time in planning the renovations that would add charm to the interior decor of the house. In order to sell your house fast, you need to plan the change in the home decor, keeping the target market and budget in mind.

Whether your home is a condominium, a self-unit or a single-family home, the interior of the house does affect the selling price of the house. More often than not, the interior of a house is emotionally associated with the inhabitants. It involves the underlying physiological response to design the details, like the chosen colors, pattern, textures and furnishings. The presentation of these essential aspects, in an effective manner, helps attract a buyer and transform a casual visit into a deal. Mostly, the emotional reactions to a property end in a deal. The connection to an unknown house is identified by the reaction to the interiors. More often than not, people feel that it is the price of the house that is the most important factor involved in buying a house. However, this decision is also affected by the way a buyer feels on visiting the property.

Colors used in the interior of a house affect its sale price:

Color combinations are very important and so affect the sale of a house. Colors reflect the moods and emotions of people. Hence, as a seller you need to opt for bright colors for the interior of the house, to provide a lively ambiance. More often than not, certain colors, such as complex, muted shades tend to attract the highly educated or wealthy buyers, while simple or earthy colors attract the low-income group of people or the less educated.

It is observed that houses that belong to a lower price range sell for more money and faster, when painted in simple shades of yellow or tan with white, green or blue. The color plays a very important role in the sale of a house. For instance, a room painted white generally appears larger than its original size, as compared to any other color.

The lobby should highlight the exterior color of the house. In order to enhance the overall look of the house, you can repeat the exterior shades throughout the interior of the home. It reflects harmony in every part of the home, thereby increasing the probability of sale. Thus, the right selection of color for the interior of your home often makes a huge difference in the paycheck that closes the deal.

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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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