3 Must Knows About Successfully Selling Your Home

Sometimes the hardest part of selling a home is making the decision to sell it. Our homes give us roots, provide sanctuary, house memories and, hopefully, give us some financial security. It's a huge decision to sell a home. Once made, however, additional decisions will come fast and furious, so take some time now, before the frenzy, to understand these 3 Must Knows About Successfully Selling Your Home in today's real estate marketplace.

 

What is Market Value?
One of the most challenging aspects of selling a home is determining the list price. Many homeowners will go online to find homes nearby that are for sale and base their price assumption on those that are most similar.

The list price of a home, however, is a fantasy. It represents an amount of money the seller thinks, or hopes the home will bring. Until the home sells, he may be right or he may be wrong.

Buyers set market value for homes. What a knowledgeable, willing, and unpressured buyer pays for a home is the home's true market value. Therefore, when pricing a home for the market, one must always look at the sold prices of similar homes nearby.

This is the method both real estate agents and appraisers use when determining a home's market value.

First Impressions Matter
Think back to when you were house hunting. Were there houses that you arrived at that you just couldn't bear to get out of the car to look at? Chipped or peeling paint, sagging window and door screens, and overgrown or dead landscaping do not make a good first impression.

Before you do anything else, clean your house, inside and out. Make cosmetic repairs, especially outdoors where the house makes its first impression. Even if it's merely a new coat of paint on the front door, shiny new house numbers and some fresh mulch in the planting beds, it may help folks want to see more.

Don't neglect the interior either. If you don't know where to start, take a look at some websites with ideas on how to declutter and stage the home.

Since 95% of home buyers are finding their home on the internet, you want to make a good impression on real estate websites as well.  That’s why the Sullivan & Sullivan real estate team has every home that they list and sell professionally staged and photographed by a professional photographer.  See our Ultimate 55 Point Home Selling Plan

Don't Attempt This on Your Own
I know what you're thinking: Of course a real estate agent is going to tell me not to take the for-sale-by-owner route. So, I won't ask you to take just my word for it. Let's look at the cold, hard numbers.

First, only 9 percent of homeowners attempt to sell their homes without the aid of an agent, according to the National Association of Realtors® (NAR). Of those, almost half said they took this route because they were selling their home to someone they knew.

The next most commonly stated reason that a homeowner gave for not using an agent was that he or she didn't want to pay the real estate commission. That's understandable when one isn't sure exactly what an agent does to get a home sold. Once you get a look at that list, you'll understand that you definitely get what you pay for.

You should also take into consideration the fact that a home that is for sale by the owner is considered a bargain to most homebuyers. Many will walk in expecting you to kick back some of that money you're saving by not using an agent. This is why, according to NAR, homes sold by agents sell for 16 percent more than those sold by owner.

Selling a home is a big deal and, thankfully, something we don't often do. When it's time to sell yours, start with the basics, as outlined above, and you'll be ready to list your home before you know it.  Contact the Sullivan & Sullivan real estate team to see how we sell homes in an average of 18 days for 99% of list price!

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Can Pets Hurt a Home Sale?

Homeowners often wonder, Can pets hurt a home sale? Here’s a story that will help answer that question. 
Dogs do the darndest things when they're bored. Take Squishy, for instance. Lauren came home late one night from her job as a nurse to find that Squishy –her usually well-mannered dog – had torn her sofa to shreds, right down to the woody skeleton. Squishy had enough time to not only disassemble the sofa but also to chew up the living room baseboards. While a ruined sofa won't impact a home's value, gnarled-on baseboards most definitely will. 

Americans Love Their Pets
Over 43 million American households own a dog, and over 36 million own at least one cat, according to the American Veterinary Medical Association. It's unclear how many of these households are owner-occupied and how many rented, but since 65.5 percent of Americans own their homes, it's probably safe to say that many pet owners are also homeowners.

The various dog-shaming websites prove that pets behaving badly is sometimes funny – especially if it's someone else's pet acting up. When it's your cat or a neighbor's pooch committing the atrocities, though, you may pay dearly with a lowered resale value on your home.

Impact on Home Value
Time business and money writer Brad Tuttle claims that pets "can potentially do pretty much the same thing to your home's value that some pets do on the rug." He goes on to credit a New England real estate agent for determining that owning a pet may have a negative impact on your home's resale value.

As evidence, the agent cited a cat owner's condo that sold for up to $30,000 less than it should have because of damage caused by the pets.

Then, there's the noise factor. Whining, barking dogs in a neighborhood can bring down resale home values by between 5 to 10 percent, Appraisal Institute's Richard L. Borges tells Business Insider.

There isn't much you can do about a neighbor's dog, but there is plenty you can do about your own.

De-Pet Your Home
Just as you'll need to clean and declutter your home before it goes on the market, you'll also need to de-pet it. This involves getting rid of not only any damage the pet has caused, but also the hair, stains and, most of all, odors.

Start by getting rid of the hair. You'll need a heavy-duty vacuum for the job. Consider having the upholstered furniture dry-cleaned, launder or dry-clean the drapes, and shampoo the carpets.

Carpet: The Stink Magnet
Cat urine in the carpet is one of the hardest odors to get rid of, according to Neeraj Gupta, director of product research and development at ServiceMaster Clean. "Oftentimes," he tells MSN's Marcie Geffner, "you have to remove the carpet, remove the pad and seal the floor, and then replace the carpet and the pad."

If you think you can fix the problem by shampooing the carpet, you may want to pay close attention to those areas your pet chooses to use as a restroom.

First, though, you'll need to find those spots. Christopher Solomon of MSN Real Estate says that not all of the spots will be visible to the naked eye. He suggests that you consider purchasing a battery-powered ultraviolet light – also known as a black light. They are inexpensive and, used in a totally dark room, can pinpoint every bodily fluid that has landed on the carpet.

Other Flooring
If you have a hard-surface floor, you may think you've squeaked by the pet-odor problem. Think again. Even some hard surfaces can absorb urine. You'll need a chemical deodorizer and cleaner to rid the floor of the odor. If it lingers, you may need to strip and repaint, varnish or otherwise seal the floor.

Walls
If you own a dog, you are probably familiar with how they seem to love rubbing against the walls. Walk through your home with your eyes cast on walls and interior doors at doggy height and you'll no doubt notice discolored areas. Sometimes a Magic Eraser will remove the marks. If you've lived in the home for a long time, you may need to repaint to remove the doggy odor.

Cats like walls too – especially male cats, who tend to spray vertical surfaces, such as the backs of chairs and walls, according to the experts at Cornell University, College of Veterinary Medicine. Ask your veterinarian what she recommends to clean and deodorize the walls.

Showings
Your real estate agent will suggest that you not be home during showings. There are a number of reasons for this, but the most significant is that buyers are more relaxed if the homeowner isn't hanging around.

The National Association of Realtors® suggests removing the pet from the home during showings as well. If you'll be home, this is easy, just take the dog for a walk or drive.

If you will be working during showings, you'll need to come up with an alternative for your pet. Here are a few places to take your dog during showings:

Doggie Daycare – This one is ideal. The dog gets a day of socializing and playing, and potential buyers get to tour the home in solitude.

Groomer – An obvious win-win.

Veterinarian – Use the opportunity to get the dog or cat a checkup and shots.

Professional Dog Walker – Hire a dog walker to remove the dog from the home during showings.

Life is chaotic and full of unexpected events when your house is on the market. It's important to remain flexible and accommodate last-minute showings if you want to get the home sold. While pets may be members of the family, they are distractions to buyers, so it's important to decide beforehand how you'll deal with them while the home is for sale.

If you have any questions about selling a home or any other real estate questions for the Sullivan & Sullivan team, please contact us here.

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5 Tips For The Best Home Showings

Home routines tend to come to a standstill while your home is on the market. The need to keep the house clean  - and not scare potential homebuyers away - means that kids can't throw their school books on the dining room table, Dad has to pick up his stinky socks, and even the pets need to toe the line.

Keeping the house clean is a good first step toward presenting the home in the best light. But it isn't the only step.

1. Odors
Have you ever walked into a home and been immediately assaulted by nasty odors? Cigarettes, grease, cooking odors, diapers and pets all leave their mark on the way a home smells. While it's almost impossible to rid the home of cigarette smoke without painting, there are ways to get rid of other odors.

Have the carpets professionally cleaned and deodorized.

Launder or dry-clean all curtains and drapes.

Consider having your upholstered furniture professionally cleaned.

Clean the grease from the range hood.

Keep the dog bathed and groomed to keep doggy smells at bay.

Place dishes of potpourri or scented candles in random areas throughout the home.

 

2. Sounds
Like the smell of a favorite perfume, we become habituated to certain things, including sounds. If you've ever lived under a flight path or next to railroad tracks, you understand how quickly one can get used to annoying sounds and not even hear them after a while. Strangers in your home, such as potential buyers, will hear the yappy dog next door, however, so here are some tips to mask the noises in your home.

Play some music, softly, while the home is being shown.

Invest in a white noise machine.

Play a sound-effects CD softly in the background.

 

3. Sights
Light and bright are the operative words when considering the ideal way to present your home to buyers.

Change all the light bulbs in the home to higher wattage bulbs. Leave the lights on for showings, including closet lights.

Paint the walls. If you can't paint, clean the walls.

Remove heavy drapes and replace them with lightweight fabric that allows natural light into the home.

Don't neglect the outside of the house. Before a showing, make sure that the planting beds look clean and attractive and that the lawn is mowed.

 

4. Set the Scene
If you've ever toured model homes, you are familiar with the concept of staging – the art of carefully crafting interiors that appeal to homebuyers. If you're on a tight budget and can't afford a professional designer, make some simple changes that appeal to buyers.

Create vignettes throughout the home. Set the dining room table with attractive dinnerware or create a cozy nook in the bedroom with a small table and chairs. Group items in threes, use different heights, and keep it simple.

Fresh flowers add so much to a home, from masking odors to adding pops of color and texture. A gorgeous bouquet on the dining room table can take the place of a fussy centerpiece. Night stands are ideal places to set small vases of flowers.

Bathrooms are important, so pay close attention to how you stage yours. Get rid of the countertop clutter and add fluffy towels and a new shower curtain.

 

5. Security
Since sellers should make themselves scarce when the home is being shown, it's important to take security measures. Lock up or remove valuables, weapons, prescription drugs and money.

Don't leave personal items - especially paperwork with your financial information - lying around in plain sight.

Whatever you can do to make your home appear move-in ready will appeal to buyers. Tour some new home communities for more ideas and inspiration so that your home shows like a model.

 

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