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Joshua Taylor's Blog

By Josh Taylor | Broker in Tampa, FL

5 Things you Need to Know Before your Home Hits the Market

So you have decided to sell your home and you want to get the optimal market value.  There are a few things you need to know before you sell your house.  There are many things you can do to gain or lose tens of thousands of dollars.  I have decided to create a list of the 5 most important things that you need to know before your house hits the market.

1. Check your expectations, your opinion does not define the price of the house, comparable properties do

Every agent has had this problem before.  We get a client that wants to sell their home, but thinks it is worth more than the market suggests.  Then their house sits on the market, and the client, stubbornly, wonders why you cannot sell their house.

Making sure you set your clients expectations from the beginning is very important.  As the client, you don’t want to waste time with your home on the market, every day your house doesn’t sell, it becomes more difficult to market.  So how do you determine the fair market value of a house?

As the client, start by asking for a CMA by your listing agent.  A good agent has done this many times before and can determine a fair market value by looking up comparable properties.  It is in our best interest to get you the optimal value for your house.  Agents get most of their business from referrals, and a happy client will refer more business than just a moderately satisfied client.

You can also start by using local tax records and see homes that have recently sold in your neighborhood over the past 4 months.

2. Your House should always be staged

Once your house is listed, it is important to make sure it looks the best that it can.  Most clients only see a house once or twice, so first impressions are everything.  If your house has clutter, is dirty, or does not show well, you could potentially lose tens of thousands of dollars.  Before you list, clean and stage the house perfectly and keep it that way until you sell.  This may require a very small investment of time and money, but the return far outweighs the investment.

3. If you need to sell quick, you might want to consider extra perks or incentives

South Tampa has become a seller’s market, so how do you differentiate yourself and make your house the house that everyone wants? Coming up with incentives early can be built into a marketing plan and can arm both agent and seller with the right tools to jump potential marketing hurdles and sell your house quicker.  One great idea is to offer HOA dues credit or to offer that all special assessments be paid up front.

4. Let your Agent Sell

Many times, clients think that they are able to sell the house better than their agent because they know the house inside and out.  This should never be the case.  I have found that more often than not, the client will hurt a potential sale by being present during listings.  Remember that anything that is said by the client can be verbally binding.  Often, owners do not realize that they can lost out on a potential sale by letting a potential buyer know the ins and outs of the house.  So let your agent sell your house!

5. Real estate is a local business

Just because you see that asking prices are up nationally, or even in the city as a whole, neighborhoods define pricing, not cities, states or the nation.  It is important that when you are looking into economic factors in determining your homes price.   Comparable properties are similar properties, in similar proximity.  A house in South Tampa should never be used as a comparable for a house in New Tampa.  These two markets are at different points in their recoveries.  Ask your agent for more information.

For more real estate information visit sellingtb.com/weblog and follow us on Twitter @sellingtb

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