101 Tips For Selling Your Home (61-75)
Before you even sit down to word that ad for the papers, think about the ingredients of the recipe for successfully selling of your house. There are five ingredients you need to have, according to Barb Schwarz, a successful realtor. Let’s take the first ingredient: location. You can’t physically uproot your house to take it to a better location. Note that the price of your house must realistically reflect its location. Tip 62: Have you been negligent? Second ingredient for a successful sale: Condition. Remember that this is where a professional inspector and a thorough personal inspection by you can make a lot of sense. Schwarz said that the upkeep of the property is a crucial factor in obtaining the highest possible price for a home. Price, like location, must reflect a house’s condition. Tip 63: How much do I want? Third ingredient: Price. This is the # 1 deciding factor in the sale or no sale of a house. There’s a belief among real estate circles that a house is really only worth what a buyer is willing to pay a seller to gain ownership of that house. Price must have a direct correlation to all the other ingredients for a successful sale. Never mind what the listings or other people say. If your house is overpriced, you won’t have any offers, or else it may take a long time to receive offers. Tip 64: Will the buyer ask for flexibility? Fourth ingredient: Terms. The more terms you have on the property, the more potential purchasers you reach. Again, the price of your house must reflect the kinds of terms available to purchase it. Tip 65: Is this a good time to sell? Fifth ingredient: Market. Market conditions are influenced by key factors such as interest rates, supply and demand of houses in your area, competition and the general state of the economy. Real estate is a cyclical phenomenon. The beginning of 2000 witnessed a surge in home building. All of a sudden homes were being sold faster than contractors could build them. When there’s a real estate boom, this is an excellent opportunity to make a killing! Tip 66: The truth will come out… So keep those five ingredients uppermost in your mind at all times. Now you’re ready to word that ad. Be honest. Don’t say you have a house in excellent condition when your inspection report has a long list of deficiencies and repairs your house will require. Don’t say you have 3 full bathrooms when you really have only two bathrooms and one powder room. A powder room, as we all know, does not qualify as a full bathroom. Also, don’t say that you live in a quiet neighborhood when in fact your house is located near a university campus where you hear students partying all night. If you mention that your house has an alarm system, it better work. Tip 67: Umm, how will I word this ad? If you aren’t good with words, that is, it’s taking you painstakingly long to draft an ad, go with ads placed in the local and regional papers that you FEEL works for you. This means putting yourself in the buyer’s shoes: you read the ad, it makes you curious, and you take down the number. If an ad pleases you or strikes you as effective and persuasive, copy the style and content of the ad. Another alternative would be to refer back to some of the books you read on successful real estate sales and mull over the model ads. Tip 68: Can you just state the bottom line please? When you’re ready to write out an ad, clarity and brevity must be your parameters. If your price is reasonable and realistic and you put the ad in the right strategic places, you’ll get at least 20 calls. Tip 69: Do your thinking before picking up that phone Don’t do what many people do. They call the classified ads department of their local and regional papers and craft the ad with the person in the other line. Don’t waste time by providing information only while you’re on the phone. Instead, figure everything out in advance. And when we say everything, we mean that by the time you call the classified ads person, you know ahead of time what your ad will look like, what it will say, where to put it, what abbreviations to use and whether or not it should have a border (experts say you don’t need a fancy border for your ad to catch the readers’ attention). Bill Effros who sold his house in five days said that you don’t need a double column or a fancy border for your ad. Tip 70: Wait and see. Be careful about how long you want your ad to run. An ad that’s been around too long will give readers the impression that your house is not selling because of major problems. It will also tell them that maybe buyers are coming to see the house only to walk away disappointed. Some experts say a five-day ad is sufficient. If you don’t get a sufficient number of serious callers, pull out the ad, wait a few weeks, and start all over again. Review the ad’s wording. Perhaps there’s something in the ad that doesn’t sound right that you didn’t notice the first time. Tip 71: Where should I publish? Put it in two sure places where it will get read. Again, pretend you’re the buyer looking for a house. Where would you most likely look? That’s the section where you should place your ad. Your local paper with a small circulation and your regional paper with a much larger circulation should be your target destinations for your ad. Tip 72: One is enough. Buyers often don’t really want to buy 4-5 newspapers to look for houses for sale. They’d much rather concentrate on one paper and encircle the ads that could lead to potential visits. They usually go for the paper which is the most popular with the highest number of readers. That’s the paper where your ad must also go. Tip 73: Cyberspace? Do I really want Martians buying my house? What about placing my ad on the Internet, you ask? If our guess of the human tendency is right, people may look at the Internet for houses for sale, but may not necessarily be serious buyers. So the Internet for now would be an alternative to traditional newspaper advertising. Just watch people in cafes who are reading the classified ads. They usually mark the paper, circling those ads that they’re interested in. On the Internet, the buyer would either copy contact details by hand or print the ad – this can be cumbersome. At least with the newspaper at hand, people can just toss it in the seat of their cars as they drive off to visit the property, and can look at the ad again, if needed. Tip 74: Do you want to write a house story? Try the home section, not the classified ads Think twice, even three times before you get that pencil or word processor moving. Avoid flowery words. Avoid expressions like “it will capture your heart”, or “a house of your dreams”, or “here’s a house where you can have many memorable days”. People are not really looking for something to captivate their hearts or memories. They’re looking for a real house to live in, for a roof over their heads. The dreams and memories can come later, but at this point, buyers are only interested in a physical structure that they claim ownership of. Tip 75: What should I say? Word your ad so that it answers the questions that buyers would want to know: location, the fact that you’re selling it yourself (no brokers or agents please), brief description of house, a starting reasonable price. Mention that you’ll take the best reasonable offer, and put your area code and telephone number. These are the only points that buyers are initially interested in. Other details like amenities and extras and true value can be discussed face to face or during a follow-up telephone call. |
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