5 Tips For First Time Home Sellers

These are 5 insider tips to consider for first time home sellers.  These are insights from experience of working with sellers and paying attention to the details that really help to not only prepare someone who is selling their home but to cut out any surprises.  Selling a home can be overwhelming with all sorts of issues to deal with, but these are some I see that aren’t considered enough.

1. Don’t Forget The Outside - Yes the outside is just as important as the inside, so don’t forget to give it the same TLC when preparing to sell.  Lots of emphasis is put on the inside of the home, when in reality the outside is just as important.  People want to see the outside is taken care of and show TLC as well.  
2. Be Prepared To Show On A Short Notice - The reality is your home could be shown at any moment and you must be prepared to allow the showing.  It is typical to ask for a one hour notice, so be sure you are prepared to clean up and leave the home in that time period.  Remember evenings and weekends tend to be the busiest so you can plan accordingly.  Keep in mind you are in control, you can set the limits on when it can and can’t be shown.
3. Know Your Competition - Be aware that you may not be the only home on the market, so make time to see who your up against & see how you compare.  I always tell my clients to pretend they are in the market for a similar home and look around, then figure out where you stand in comparison. 
4. Know Your Numbers - This may seem obvious but knowing your numbers is extremely critical to having a successful transaction… in many ways.  First know what your bottom line will be after all expenses, that means the sales price minus the payoff, fees, commissions, repairs, etc… what is your bottom line number?  So know your fees so there are no surprises.  What is the exact payoff… not just your balance but payoff… you will find there can be a big difference.  Finally know how much you will need for your next move, down payment, moving expense, etc… you will need those funds for your next transaction.
5. Prepare For Repairs - This is by far the number one issue most new sellers don’t expect.  They get their house under contract, figure out what they are going to make and think they are done, when in reality the buyer will be expecting some repairs be completed before moving forward.  So be sure to account for making the requested repairs, now remember that is all negotiable, but it is rare for a buyer not to ask for something.  Consider doing an inspection before putting your home on the market, so you know the exact condition of your home.  Make repairs before listing it and you will know what repairs are left that a buyer could be asking for as well as associated costs.

Bonus - Numbers & Negotiating - Going back to the numbers, on top of knowing them I always tell my selling clients to draw an imaginary line in the sand when negotiating.  Whether you are negotiating terms, sales price, or repairs, decide where you are comfortable and where you are not as far as your numbers.  I see too many bruised egos and clients taking it personally, so it is best to decide up front so you know where you stand from the start.

Again I hope this was of value and maybe you picked up a tip or two.  My goal is always to be a resource and educate my clients so they can make informed & educated decisions.

Have questions about this or other topics, don’t hesitate to contact me.

Luis Cuevas, Realtor®

RE/MAX Cross Country

1990 Justin Road

Highland Village, Texas 75077

(214) 783-0535

Luis@MakeNorthTexasHome.com

Check out my website for more helpful tips:

http://MakeNorthTexasHome.com

Subscribe to my YouTube Channel:

http://Youtube.com/MakeNorthTexasHome

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5 Common Gimmicks In Real Estate

Gimmicks are too common in this industry and give many real estate agents a bad reputation.  The reality is much of that is well deserved and very much true.  Why?  The simple answer is it is true, gimmicks are everywhere in this industry and unfortunately are the more the norm than not.  Not with me, I don’t participate or run my business in this manner at all.  No gimmicks period!

So what gimmicks are out there that I am referring to or some you may have already come across?  Here are the top 5 I see on a regular basis:

1. “I Have A Buyer For Your Home” - You hear this all the time but the reality is that the majority of the time it is not true and just used as a bait and switch to get your attention.  The gimmick works like this, an agent either calls or knocks on your door claiming they have a buyer for your exact home.  Really?  You haven’t even look inside?  The reality is they are trying to get your attention and get their foot in the door where they promise you the world but only to realize the buyer didn’t exist or had a change of heart.  The truth is they don’t exist, it is a gimmick!  While a quick sale would be nice I strongly recommend you list your home on the market because the reality is you will have more buyers and offers which would be in your favor.  Again don’t fall for that gimmick.
2. “The Neighborhood Expert” - Every agent claims to be the neighborhood expert, while technically they can be, the reality is they are trying to be neighborhood experts everywhere.  If they really are an expert you more than likely already know of them and should not be a surprise.  Instead realize this is just a gimmick to justify them stepping inside your home to convince you you should list your home with them.
3. Unsolicited Cold Calls - This is the modern spam except they actually are calling you directly, again this is exactly what gives real estate agents a bad reputation.  The reality is they are cold calling, saying the same thing to everyone hoping someone bites.  Even if your number is on the “No Call” list the calls continue.  Oh and when they call I am sure you will hear of a gimmick listed in the article.
4. “If I Don’t Sell Your Home I’ll Buy It” - This is a very common gimmick that sounds too good to be true… because it isn’t true.  The reality is they use this tactic to get your attention and get their foot in the door.  Now will they actually buy your home?  I haven’t met a seller where that has happened or even asking around with other real estate agents I know.  The reality is the sale is at a deeply discounted price, probably one you would never consider to begin with along with other restrictions.  The gimmick is so common INMAN did a story on it you can read it here. 
5. Inflated Market Analysis - This gimmick is simple, stretch the numbers on your home to make you think you can get a higher price which leads to you signing the listing agreement.  The reality is the tactic is again designed to get your attention, get your hopes high, put a sign in the yard only to find out it is over priced.  Eventually you will start to lower the price or sell it at a lower price, probably where it should have been to begin with.  The reality is the agent gets a listing they otherwise wouldn’t and gets a sell, even if your original expectations were not met.  In other words they will tell you what ever you want to hear in hopes of getting their sign in your yard.  They know once the sign is in the yard you are less likely to fire them and change agents, so they collect a commission regardless of the price.  This gimmick plays on your emotions of naturally wanting most for your home, only to disappoint you in the end.  I have lost business because I refused to pitch this gimmick, I gave them my opinion, which was $70K below what the next agent proposed.  The sellers went with the other agent & higher listing price… 4 months later it sold for the price I had suggested from the start.

I flat out do not participate or run my business to fool people with gimmicks to get their attention or business.  I focus on honesty, integrity, transparency, full disclosure and seek to educate my clients so they can make an informed & educated decision for themselves.  No gimmicks period!

Again I hope this was of value and maybe you picked up a tip or two.  My goal is always to be a resource and educate my clients so they can make informed & educated decisions.

Have questions about this or other topics, don’t hesitate to contact me.

Luis Cuevas, Realtor®

RE/MAX Cross Country

1990 Justin Road

Highland Village, Texas 75077

(214) 783-0535

Luis@MakeNorthTexasHome.com

Check out my website for more helpful tips:

http://MakeNorthTexasHome.com

Subscribe to my YouTube Channel:

http://Youtube.com/MakeNorthTexasHome

Follow me on Facebook:

http://Facebook.com/MakeNorthTexasHome