Home Sale Preparation for Sellers 101


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This webinar examines the basic of home sale preparation for sellers in Texas.

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  • Home Sale Preparation for Sellers 101

    2. 2. Basics Concepts of Home Preparation This micro webinar is a mix of home preparation tips, staging concepts, and examines how real estate buyers may perceive the potential home purchase.
    3. 3. Basics Concepts of Home Selling As a home seller, with or with an agent, you must understand that you have to exercise your control in the home selling preparation, process, and pricing - If you choose to take control.
    4. 4. Basics Concepts of Home Selling My proposition to home sellers, buyers agents, and brokers is that people buy homes on a platform of need or investment that also contain an intriguing subset of subconscious thoughts, desires, and emotions
    5. 5. Home Purchasing Decisions First, home buyers do research, narrow their potential list on style and price, then perhaps seek financing pre-approval. Buyers can potentially look at up two dozen homes before selecting the one.
    6. 6. Home Purchasing Decisions Second, once buyers have their “must have” purchase list they begin to evaluate if the home has the required bedrooms, square footage, and amenities they desire; Buyers may begin to process emotional feedback from the first visual inspection which leads to thoughts such as “ I love this place” or “ this is the one, the best, or the perfect home”
    7. 7. Home Purchasing Decisions Third, home buyers that connect with your home move to making offers, purchase negotiations, or create outright bidding wars on “their perfect dream home”. As a home seller, it is your job the get home buyers to fall in love with the house and actually begin to re- prioritize their “must have list” and justify the purchase.
    8. 8. Conditions Affecting Home Purchase Well known factors that affect the home purchase are market conditions, geographical location, and competing homes for sale. As a home seller, you cannot control these factors, so you must realize that preparing the house to outshine other homes is critical. If two homes fit the buyers criteria, they will always choose the home that emotionally reaches to them.
    9. 9. Art and Science of Pricing Pricing is an art, not science or numbers Pricing is market driven by the numbers As a home seller, be aware and prepared for “pricing shock” as you are presented with a comparative market analysis or an estimate of your homes market value. Pricing is very emotional
    10. 10. Art and Science of Pricing Comparative Market Analysis - A means of comparing similar type properties which have recently sold to the subject property. As a home seller, be aware that the C.M.A. will yield your homes sales price range, but not the high or the low of that range. be at the top of your range by preparing the home for sale.
    11. 11. Art and Science of Pricing Pricing is an art, not and exact science As a home seller, be aware that several factors affect the sales price; however, you can push the number up in your sales price range by combining a solid C.M.A., a solid preparation plan, and a solid knowledge of what buyers are paying for similar homes.
    12. 12. Art and Science of Pricing Closing thoughts on Pricing In the end, many hours can be devoted to setting the “right price” for your home. If you have trouble with the two schools, know that you do have another avenue. Contract a licensed home appraiser who is a professional in “ home valuation”, caveat is that this service costs from 300 to 1000 depending on the home.
    13. 13. Seeing with Buyers Eyes Think about how potential buyers look at your home. Package the house in the best possible way. Step back and be objective about your homes positives and negative, then erase the negatives.
    14. 14. Seeing with Buyers Eyes Sensitive Area as the way you live in your home is not the picture that you want to convey when your house is on the market. What’s wrong with my pink flamingo and Elvis collection ?
    15. 15. Getting Buyers Eyes Visit Model Homes Simple Staging Checklist Go to Open Houses After getting buyers eyes, work on negatives as they result in low offers, less showings, and cutting of price.
    16. 16. Five Step Plan De Clutter Clean Repair Neutralize Enliven
    17. 17. Step One: De Clutter Clutter in any manner will make a home look smaller, feel cramped, and chase away buyers. Clutter can occur in any room or space in the home; if you can only perform single task to prepare the home for sale this one is your must !
    18. 18. Clutter: Tips & Targets Live with a set of basic items; store your clutter if you can’t bear to part with it; move it out if you don’t need it between the move. Organizing is another way of removing clutter. You can show potential buyers organization, cabinet facing, and spacious closets. Remember that less clutter is usually results in more money at the end of the sale process.
    19. 19. Step Two: Cleaning Cleaning is the second most important step in your plan. Unclean and clutter houses cause buyer apprehension. Think of the process as a spring cleaning on steroids this second step is your next must ! Pet owners and Smokers take extra time to clean even deeper. Almost 40% of the problems of achieving a successful sale at list is cleaning and clutter.
    20. 20. Cleaning: Tips & Targets Hit the big areas: Windows, Curtains, Flooring, and Woodwork - Don’t forget the outside Some highlights include if you you can’t clean it paint it, let plenty of sun in the home,if you can smell it you can’t sell it. Remember, these are factors you can control !
    21. 21. Step Three: Repairing You Can Run from Repairs, But You Can't Hide Them. A house cannot sell for top dollar if any repairs are needed.
    22. 22. Repair: Tips & Targets Repairing is not Remodeling : make a list of repairs, plan your work, and make sure it looks new. Repairs run from leaky facets to major repairs like roofs, plumbing, or foundation. Buyers usually want a move in condition home, they do not want to have make repairs. You can do many repairs yourself and home improvement stores like Lowes, Home Depot,
    23. 23. Repair: Sellers Disclosure Any home for sale in Texas must have a seller disclosure document completed for review by the seller. The sellers disclosure is a comprehensive list of any known issues with the property, as well as any remodel projects completed during the time they owned the home. Sellers disclosure forms usually include information about the title of the home, the water/sewage system, the roof, and the electrical system.
    24. 24. Step Four: Neutralize A house with neutral paint, decor, odor, and carpeting usually will accommodate most peoples decorating style. Creating a neutral environment can add extra advantages for potential buyers. You expand the number of potential buyers by neutral appeal.
    25. 25. Neutralizing: Tips & Targets Neutralize walls, floors, and decor. Paint gives you the biggest bang for your buck If this method seems boring or averse to your style, think of it as providing the new homeowner with a clean, bright canvas. “Paint costs $25.00 or more per gallon; however, it’s worth $500.00 or more on the wall” Kelly Rush, Realtor / Educator
    26. 26. Neutralizing: Tips & Targets Neutralize all odors. Animal, Mineral, or Vegetable Sources include mildew, pet odors, cooking odors, tobacco, etc ... Perform an independent smell test and see if you have completed your mission. “If you can smell it, you can’t sell it.” Kelly Rush, Realtor / Educator
    27. 27. Step Five: Staging Staging is not Decorating Staging is preparing a residence to appeal the largest number of possible buyers of residential real estate. Staging is a completely course of study that would rival the body of knowledge in Home Sale 101. If you are a serious seller, buy a good reference book or take a staging course.
    28. 28. The Case for Staging According to a Home Gain.com survey of 2400 real estate professionals found that staging can average of % on Return of Investment. I had a difficult time believing this number, but I eventually verified the credibility by other professional surveys, literature, and Kelly Rush, Realtor/Educator
    29. 29. Course: Home Sale Preparation 101 Email: michaelchalambaga@gmail.com Author: Michael Chalambaga Credentials: Licensed Texas Real Estate Broker Member National Association of Realtors Member Texas Association of Realtors Certified Home Marketing Specialist © Copyright 1997-2011 Michael Chalambaga All Rights Reserved