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Selling your home, what you need to know

Posted by The Team at iHOMES COLORADO on Monday, June 29th, 2015 at 7:00am.

Happy Monday! Last week we discussed on our Facebook page the possible meanings of 'For Sale' signs outside of a home. Our first post in that series is about home selling and will focus on some key points for selling your home.

Selling your home, what you need to know

The first point is make sure your home is priced right. What do we mean by this? Pricing your home right means that it is priced appropriately based on your neighborhood/area. With the help of your realtor, you should be able to come up with a price that is not to high or too low. When a home is priced too high, it will detract potential buyers and possibly sit on the market for longer than it should, costing the seller money. When a home is priced too low, it will attract many buyers meaning that the offer you accept could in the end be lower than what the home is worth. According to REColorado, pricing your home at market value will attract 60% of buyers out there. A home that is priced 10% above market value will attract roughly 30% of buyers while pricing it 10% under market value will attract approximately 75% of buyers out there. What a big difference pricing 10% over or under can make!

Selling your home, what you need to know

They say, “A picture is worth a thousand words”. Are your listing photos saying 1000 positive words or 1000 negative words? We are a mostly visual society and one who can easily dismiss a listing in just a few seconds if there are no images or the photos are of bad quality. For example, grainy, blurry, vague, small, dark and obscure images don't tend to make a good first impression when it comes to showing off your home. Invest in good photography because buyers start online first; if a buyer likes what they see then they will most likely make the next move to see it in person.

Little changes make a big difference! You only have one chance to make a good first impression so lets talk about a few things that you can do to “wow” potential buyers. How does your property look from the outside? Ask yourself the following questions about your home: Does it have good curb appeal or is the grass too tall, dead or patchy? Are the shutters or siding in need of repair or a fresh coat of paint? Are the windows and door dirty? Little things such as cutting the grass and a couple of potted flowers can make all the difference.

Cleanliness and a clutter-free home matter as well. Few buyers are able to see past a dirty or cluttered home. When a buyer walks into your home, they want to envision their couch in your living area but may not be able to if there are large toys or clutter in the way. Similarly, if the home is dirty it may raise questions as to what care the home has been given to date.

Be sure to make necessary repairs so that everything is in working order. Replace necessary light bulbs to ensure proper lighting of your home. Something as small as a loose doorknob can easily create a bad impression of your home. In order to improve the appearance of any room, replace dirty or worn rugs and pillows with new ones, place fresh towels in bathrooms or add fresh flowers to brighten up a living space.

Finally, planning and having a good open house will vastly improve the amount of offers your house could receive. A strategic marketing plan should be put together by your realtor. A proper open house should show the property descriptions and amenities. Prior to the open house, direct mail about the open house should be sent to the community and agents should be knocking on doors to inform the neighborhood, peek interest and show support for the client they represent.

Most buyers should be able to see personal and market value of a home which in turn could lead to a higher sale price just by following some of the tips above.

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