To Sell Your House, Make It Shine

Recent stories ARE true, we definitely ARE in a downtrend in the real estate market. Since the middle of 2005 here in Metro Detroit, it's turned from a sellers market, where sellers could literally name their own price, to a buyers market where buyers can literally name their own price. There are many, many more homes on the market at this time of year, than there were at a similar time in any year, from the late 1990's to 2005. As a result, there is a "glut" of homes on the market, meaning a buyer has many homes to choose from fitting his or her needs. An example would be a buyer looking for a ranch in the $200,000 range. 5 years ago, there may have been 10 houses to look at, matching the buyer's criteria. Today, there are 40. So what to do to make your home stick out amongst the "glut.".

First and foremost, price it right. A buyer who's done their homework and a good real estate agent will know value when they see it. An agent can just look on the Multiple Listing Service, see a price in a certain neighborhood and know it's priced to high and may not even show your home. If you price your home to high with the thought of gradually reducing the price a bit at a time, you could be in for a long wait for an offer. While your house sits on the market, more and more houses are entering the marketplace making your high priced home, even less desirable.

Second, make your home sparkle. Remove the clutter and open it up. Do work both inside and out to give the home more curb appeal. Inside, paint walls, polish floors, shampoo carpeting and follow the advice of your Realtor who knows what's appealing to buyers currently out there looking, because in many cases, your Realtor is also working with buyers and he knows what their current likes and dislikes are.

Third, choose your agent carefully. Select at least 3 agents from 3 different companies to interview. Many sellers think the important thing is what commission the agent will charge. But MARKETING is the key. An agent may charge you a low commission, take a picture or two and put your home on the Multiple Listing Service and that's it! A full service broker WILL charge a higher commission, but will not only take pictures and put your home on the MLS, but will do virtual tours, put your home on many Internet websites, buy print advertising and will constantly keep you informed about what's happening in the marketplace. The full service broker could get your home sold weeks, even months faster than the "commission cheapie."

All in all, it's not easy being a seller. There are big decisions to make and I'm here to help you make the right choices!