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SELLING YOUR HOME IN A CHALLENGING MARKET

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Above everything else, please remember, there is no magic wand to sell your home in a day.  It is going to take time, effort and perseverance by you and your Realtor®.  The real key question is, how is your house going to stand out compared to all of the others in the same price range and location?  Here are 10 steps to help you find a buyer for your home and potentially sell it for the most money possible.

•1) First and foremost, make sure your home has curb appeal.  That first impression, when a potential buyer pulls up to your home for the first time is huge.  I kind of compare it to going on a first date.  Does that person you are meeting look clean and groomed?  Are they wearing old, torn cloths?  Do they smell good?  Can you see yourself going on a second date?  You get the picture.  You never get a second chance of impressing an individual.  It has to be the same way with your home.  Once you get that look going with the mowed lawn and the trimmed hedges, please keep it that way.  All too often, after a month, the seller will get complacent and start slacking off.  Remember, first impressions are forever.

•2) Next, walk into your home with the eyes of a first time home buyer.  What do you see?  Is there clutter?  Do the rooms look inviting or cramped?  Is it easy to move from one room to the next?  Are the carpets or floors dirty?  Will the colors on the walls accommodate some one else's furniture?  How does it smell when you walk in?  When it comes to smells, clean always wins over candles and aroma scented sprays.  Think clean, bright and welcoming as you go.

•3) Get rid of any toys or personal things that clutter shelves, walls desks and floors.  Always keep in the back of your mind as you do this, the people looking at your home want to imagine their stuff there.  The more you have of yours, the less likely they will be able to see theirs.  It is not a bad idea to rent a storage unit to start this process.  Out of sight with these items is always best in the long run.  Do this in every room.

•4) Next, strange as it sounds, replace the toilet seats.  It does make a difference.

•5) Ok, the house is clean, neat and smelling great.  Congrats!  Now is the time to go back outside and start looking for things that are broken or missing on the house.  Start in the front and move to the back, then work your way through the interior of the house. By doing this, you overcome potential objections from a potential buyer well before they come up in the negotiations.

•6) When you have uncluttered, cleaned, mowed, trimmed and made the beds in all of the rooms, leave for a celebratory dinner for all of the hard work you have accomplished.

•7) When you come back, look hard at the home you pull up to.  Look at it with a new buyer's eye.  Can you honestly say this is the nicest house on the block, without reservation?  If you say yes, you are half way to selling your home.

•8) Now comes the hard part, finding a Realtor® that you can put your confidence in.  Whether buying or selling a home, there is always some degree of trepidation.  To ease some of the worry, do some homework on who you would like to help you sell your home.  Ask friends what experiences they had with their Realtor®, make phone calls and take notice as to how long it takes to return your call and how they answer it in the first place.

•9) Invite three Realtors® to do a listing presentation.  How much do they listen to what you have to say and what your concerns are, as opposed to how smart they tell you they are?  Find out what their background is.  Experience in all aspects of real estate is important, that includes finance as well as marketing.  Ask how they intend to market your home and in what manner.  Hopefully it will include Open Houses, print advertising and internet marketing.  Ask them how many Open Houses you can expect within a certain period and what web sites will be showcasing your home?  The question of commission will also come up.  Remember, you get what you pay for, in all cases.

•10) Last and most difficult is to keep everything in your home exactly as it was the day you came back from your celebratory dinner.  Leave the rest to your Realtor®. You are in good hands.  Good luck in a challenging market.  Always remember, cream ALWAYS rises to the top.  God Bless.


Mark Chesnick

Realtor®

Blanchard and Calhoun Real Estate Co.

706-495-1533 Cell

706-868-1000 ext 293 Office

Comments

By Nancy Howle,  Fri Nov 14 2008, 10:24
I like it.Thanks Mark.Nancy
By Bill Gassett,  Tue Nov 18 2008, 05:15
How many open houses...Are you kidding? Print advertising? An open house in most markets throughout the country is one of the biggest wastes of time for a seller. The statistics on open house are bleak. Less than 1% of all homes sell from an open house. I find it amusing that Realtor's continue to promote an activity that does more to benefit the Realtor than it does the client.
Open Houses are 1% effective and print advertising is 3% effective - that equates to 99% and 97% ineffectiveness, respectively. Since 85% of all buyers go online first, shouldn't at least 85% of the agent's marketing be directed online?
By Sue Dahlgren, CRS, ePRO, GREEN,  Tue Nov 18 2008, 05:25
Ditto on the open house and print advertising. I'll do one open to let the neighbors check out the house, but after that it is a huge waste of time. Print advertising in our area is also a waste of time and money. The only exception is an ad for an open house, but I've already mentioned how I feel about those...
By Carl Witzig- Agent,  Tue Nov 18 2008, 05:31
OPen Houses are about traffic, not selling the subject house on Sunday. Of course it could happen and does. It makes sense that if 100 people see a house it is more likely to bring more or higher offers than if 10 people see it. Avoiding Open Houses has more to do with lazy agents than understanding marketing. Selling the house to the realtor community at realtor opens also makes sense in building traffic. Be very afraid of anyone who pans activity that builds traffic.
You will sell your house more readily if you price it below its value. You may even have more than one offer. But that does not mean that you have done well in selling your house.
Mark,
Nice blog with great information! Needless to say, sellers must do everything possible to prepare their homes prior to listing. It does make a significant difference!

Frank Dolski
Coldwell Banker Hearthside-Lahaska, PA
f.dolski@cbhearthside.com
By Erica Pittman-Gaynor,  Tue Nov 18 2008, 13:22
Nice blog Mark,
A lot of very good points.

Getting a storage and packing up most of your belongings is key. The goal is to stage the house so it does not have that empty feeling and also is not filled with personal belongings. People need to be able to picture their things in the home. Neutral, natural colors are best.

2nd is pricing. The three most important aspects for a seller are Location, Condition and Price. We only have control over two of those, Condition & Price. In this declining market it is vital that a seller price AHEAD of the market. Inventory is high. If your house is one of one hundred in its price range what will make it stand out? The Condition & Price. You cannot under price a house. The key is to price it aggressively to attract a buz, then put an offer date out. This number of days will vary based on what your local market is doing. A good Realtor in your area will know these strategies and have the data to support it.

If you price it strategically enough, with an offer date, you can expect a multiple offer situation. This results in cleaner, stronger offers because there is competition to be the most attractive.

Erica Pittman-Gaynor
(831)818-4123
Keller Williams Santa Cruz
erica@ericapittman.com
SantaCruzRealEstateByTheBay.com
By Bill Gassett,  Tue Nov 18 2008, 15:18
Carl avoiding open houses is about an agent that values spending time doing something more productive for a seller client. An public open house is not one of them. You can not argue the facts...less than 1% of all homes sell from them.

If you want to tell me that they are good for the agent because you may meet a buyer that becomes interested in another property or that you may meet a potential neighbor thinking of selling their home then I will agree with you. Please don't talk about traffic as it is very poor when the traffic consists of neighbors, sunday lookie lous, and the unqualified. This is not the kind of traffic that creates a sale. Serious buyers more often than not are with Realtors.

Realtors promote open houses for their own self centered interests and the fact that it is a way to show the seller you have performed a marketing activity. The problem is the activity is one of the poorest there is.
By Janice Doty,  Tue Nov 18 2008, 15:54
I can go either way about the open house issue. No, I did not sell any of my listings to people who attended the OH but it did get a buyer for another agent to get off the fence and put in the offer which was accepted. Sometimes competition is a good motivator as it conveys urgency.

I think part of the issue about effectiveness is actually looking at the work done before the open house-- did you actually have a leveraged open or just rely on the newspaper ad? I try to hang an "open Sunday" on my sign on the Monday before so it alerts people driving by that they have a chance to get in and see it without an appointment . I try to either call or send out postcards to past open house visitors, and "locals". Part of the prep work has to be making sure it gets on all the internets sites where you are listed. I also send my "Realtor sphere" a flyer/ email-- they may have someone out showing that day who may just fall in love with it.

Mark-- other than the focus on the open house issue, I think you have made alot of valid points.
By Ann Thomeczek,  Wed Nov 19 2008, 08:11
Lots of great advise Mark. curb appeal and cleanliness are huge along with nuetral colors and decluttering. Sellers don't realize what a few cans of paint can do to enhance the value of their home. The amount of time and money it takes to paint will cost far less than a potential buyer will take off of the asking price if they feel it's a renovation they'll have to make themselves
.Not to beat a dead horse, but I agree that O.H.'s and print advertising are more about selling the agent than the home. Open houses are great when the house first comes on the market and anytime there's a price change, and not a total waste of time if you use it wisely. A slow O.H. is a great time to make some lead generating phone calls or organize paperwork.. Print advertising is a great way to get your face out there in the community and appease the seller at the same time. However we should be educating our clients instead of telling them what they want to hear. Online marketing and marketing to the Realtor community along with price, location and, condition are key. An agressively priced home in any market should still generate a sale if it is truly the best deal of it's kind.
By Treasure,  Wed Nov 19 2008, 08:44
Excellent advice, and highlighting the 3 C's - Clean, Curb Appeal and Clutter.....
I think the biggest problem agents and clients have is understanding that it's a partnership, whereby
both the home seller and the agent have a function, and when they work together, the results are better.

Thanks
T
By Teri Brinsley,  Wed Nov 19 2008, 09:26
Curb Appeal, Staging, Exposure, and of course, PRICING are the key elements to selling any home. In this challenging market, however, there is another factor that I haven't seen mentioned. I think it's wise to have current mortgage rates and financing options directly pertaining to the price of your home, in printed form, displayed out and readily available. Any buyer that may tour your home at an open house OR with their agent can pick up this flyer and visualize their personal bottom line. This can bring your home one step closer to a sale.

Teri Brinsley
Coldwell Banker, El Dorado Hills
TeriBrinsley.com
By David Chamberlain,  Thu Nov 20 2008, 13:10
An open house is only effective if you know how to work it. I do a great open house and get many leads off of them. I also get a lot of questions from buyers and that helps me learn about the house.I am sure that most of you don't, because you can only get out of it what you put into it. 1% of homes sell at open houses: why should I exclude that 1% in a market like this. "Homes for sale" on Google yields 76,000,000 results what percentage of those sites are you on.
I don't spend a lot of money on print advertising but I am in a tourist area so when I do, I do get leads off of them.
By Karen,  Thu Nov 20 2008, 16:13
As a home stager, I can say cleaning & decluttering are NOT enough. The home has to present well, have some WOW factor. Correct staging take the buyers eyes where we want them to go and avoid what we dont want them to linger on. Staging is an ART. I cannot say it enough, cleaning & decluttering are simply not enough anymore.
By Christopher Dean,  Fri Nov 21 2008, 10:40
I must agree with Carl. Although there is a very small chance of selling a home on the day of the open house I did sell two last year during the open house. One was for another agent who did not want to hold any open houses. I truly value my time and think holding an open house is worth my effort. I do meet and pick up new clients who are actively looking to buy a house, although my main interest is presenting my clients home and getting it sold. I don't understand why Bill (who looks a lot like Joe the plumber by the way) is so negative to realtors. I think that clients expect their realtor to do a lot of marketing, including the internet, print ads and open houses. I think that any reatlor who uses the 1% (open house) or 3% (print ads) are just looking for an excuse for why they are lazy and not putting the best interest of their clients first. Anyone reading this and is thinking of using a Realtor who is not interested in holding an open house - move on and find one that actually cares about doing everthing in their power to sell your home.
By Kathy Wilson,  Sun Nov 23 2008, 12:57
If you are talking about Open Houses and Print Advertising to help your Sellers, I just don't think that's much bang for your buck, so to speak! Open Houses and Print Advertising in my market are often considered to be a waste of marketing dollars. It may make your phone ring with Buyer leads but rarely is it a benefit to the Seller. I always promise Sellers that I will not waste their money on marketing that does not work for them. In my market those are last resort marketing efforts, not first choice, for where to spend my, or the Seller's, money.
By Mark Chesnick,  Sun Nov 23 2008, 21:00
I want to thank everyone who read my blog before making a comment, and for those who responded to the comments without reading my blog, please read it fully. I mentioned Open Houses once in the 9th step. It truly was not a dissertation on the validity of an Open House, but rather some basic steps for a homeowner to get their house ready before attempting to sell it.

Mark Chesnick-Realtor®
Blanchard and Calhoun Real Estate Co.
mchesnick@blanchardandcalhoun.com
706-495-1533 Cell
706-868-1000 ext 293 Office
http://www.augustaonmymind.com
By William Mccalmon,  Sun Nov 23 2008, 21:17
I bought my house in an Open House. I simply followed an open house sign, walked in, and bought the house. My point: In this market, you need more not fewer stategies.
By Donna Kalman,  Sun Nov 23 2008, 21:48
The contest idea is great, But writing essays and relying on a judge is to subjective and to time consuming. Aslo you would need to get 3000 different people to enter. Also the previous comment sums up most peoples feelings, Why your home and not mine. I need to sell too. And how about the realtors. How can they help and also get involved?

I thought about all this and investigated this for quite a while. There had to be a better way. And then, I found it. A website that everyone can use to promote their home, in the contest. launched by a company that will broker participate ,whether the agent brings in the listed home or the winning player. A contest that is fun , fair , quick and isn't judged by a person. A contest that players will enter more than once , cutting down on the amount of different people you need to enter. An entry fee of $10,00 to win a home valued at $600.000 . A contest that is legal by the states guidelines. Sounds to good to be true. Take a look http://www.perfectplacecontest.com

Oh you don't want to own. Then play for a rent free year. Also keep watching we are about to start to list business for for the prizes too!!!
To Bill that says that open houses are a waste of time, I sold 2 homes last year from sitting open houses. yes, they were the homes that I was sitting and they were not my listings so YES open houses do give the home exposure and many times people will view them and have time to think about it and come back.
To Bill that says that open houses are a waste of time, I sold 2 homes last year from sitting open houses. yes, they were the homes that I was sitting and they were not my listings so YES open houses do give the home exposure and many times people will view them and have time to think about it and come back.
By Angie Brumm,  Tue Dec 9 2008, 03:31
I do an open house every week if needed, of course it can be a waste of time but I found it not to be so. I have gotten 1 buyer and sold 1 of my listing this year. When agents aren't showing your property I feel that I must take the lead and show that property to as many potential buyers as possible. Spending time in an open house helps me pick out items that are of concern to this property and open house visitors can open my eyes to something I might have missed.. I think of it as investing time in my business.
By Diane,  Sat Feb 28 2009, 09:33
I am in the process of getting my house ready to put it on the market. Your comments were extremely helpful to me. Who ever though of putting new toilet seats on the toilets? Great idea! I read everyone's comments about the open houses. From my point of view I like the idea. Perhaps nobody at the OH wants to buy it but word of mouth might bring a buyer. I'm for anything and everything that could lead to a sale. I believe anyone looking to buy goes to a few computer sites before anything else. About coming home after the dinner and looking at the house like a stranger would - super idea! I have also been told a good way to look at the interior is by looking through a mirror which, of course, makes the room look very different. So,....even though you wrote this some time ago, I found it just in time and it was helpful to me! Thanks!

 
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