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- Tips for buyers
nice tips for home sellers. Will you please continue with these tips as "Tips for buyers" or "Tips for tenants".
- more tips for buyer, sellers
Nice to know that you and fellow members find the tips useful
Will surely post more tips here
- Wat Abt all this Dealing without a Real Estate Agent ?
Wat Abt all this Dealing without a Real Estate Agent ?
Got Bowled out !
Hai Mr Ram,
Your post regarding the 20 selling tips is really interesting. But I am imagining whether there is a way to sell a house without taking anyone's help. That is if I dont want to take any Realtor's help and want to sell the house myself ?
- Tips to sell without a Estate Agent
Do we really need to use a Real Estate Agent? It is the first question that every seller or buyer should ask themselves before calling the service of a Real Estate Agent. In fact there is no law anywhere in the world which stops an individual from buying or selling a house without the help of a real estate agents.
After the first question, if the person decides to go himself then this is the right place. There are some tips which can be handy during the sale or purchase of the house by yourself. Following are the tips for someone who will prefer to go himself rather than taking the help of Real Estate Agent to sell his house:
1) Prepare The House:
Before doing anything, make sure that the house is in good shape to show. That means making sure it is clean, de-cluttered, odor-free, brightly lit and freshly painted. Curb appeal is also important. Show the house in full light(day light) as generally people like bright houses.
2. Price it correctly
Second and the most important step is pricing your house correctly as If you price it high then also you wont get any buyer and if you price it less then everything will go in vain. The biggest mistake for sale by owners make is pricing their home too high.
Use listing Web sites to get a starting idea of what a house is worth. A look at a listings site, will reveal what sellers are asking for in the neighborhood. Free comparative market analysis before setting an asking price through 2 or 3 real estate agents will give you a rough estimate.
Go to neighborhood open houses to see what other homes are selling for. If the home is unique and difficult to compare to others, consider having it appraised. Up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties.
3. Market it Correctly
The Internet can be a big help in marketing a property. Listing sites will allow a seller to post a listing to gain Internet exposure.
Other online options include community marketplaces such as portals like Yahoo. When placing a newspaper ad, also make sure to ask if it will be posted online for free.
But don't underestimate the power of a sign. Directional signs can call attention to a home from nearby roadways, and signs in front of the home should have an information tube or box filled with informational flyers. Just make sure you're clear on area sign laws.
And consider listing on the Multiple Listing Service as well.
4. Get the papers Ready before selling
Decide early on whose services to use for the paperwork. That means either finding a title company or a real estate attorney to assist in completing the sale. Your backend should be up to date with all the paperwork.
So hope that you people will find all this tips handy during the transaction.CommentQuote0Flag
- Cut n Paste Advice : Is it really relevant for the indian realty consumer ?
Your cut paste advice is more relevant to the realty markets abroad.
MLS (Multiple Listing Services) and Open Houses are not yet operational concepts in India.
People can surely do buying & selling without a realtor, but the money spend on the realtors fees gives you much more value than you spend. There are no laws anywhere in the world which stops you from using the services of a professional neither are there laws which force you to go to professionals. But as in our everyday life, we use the services of professionals. We do not want to be pennywise and pound foolish. Would anyone think of doing a self diagnosis of his ailment and buy OTC medicines from a drugstore and try to save a doctor's fees. I dont think so.
Research in the indian realty market has shown that typically a indian consumer buys two homes in his lifetime. So there is no harm is people using a professional realtors service to transact the biggest purchase of his life.
Just a timely and legally sounded advice from your CA can save you thousands of rupees in taxes, so can your realtor give you more value than what you pay him for his fees.
A realtor is a specialist who deals in buying n sellling every day of his life and is more grounded to the harsh n ugly side of realty dealings. A simple advice of avoiding black listed builders can mean a life time saving measure for someone who would have bought property in a dud project.
For a buyer, it can simply be as simple as avoiding pitfalls and loose his hard earn money to real estate sharks or sometimes get deals that are not listed with real estate portals and are exclusively with local Realtors. How many first time buyers are aware of the meaning and terms like IOD, CC, OC, FAR & Conveyance. How many buyers who buy flats directly from builders have asked the inspection of title documents, the 7/12 extracts, property card, encumbrance certificate and other such jargonic sounding documents ? Your realtor certainly can guide you here.
For a seller, it can mean getting the right market value at the earliest with proper guidance in legal wrangles, capital gains n the right reinvestment oppurtunities.
FSBO's are very common in markets abroad.
But invariably most of these homes are listed with Realtors after 3 - 9 months of being in the market, unsold.
If everyone of us look at our job profile, there are possibilities of you being redundant and people doing your task directly. But the million dollar question is Are they able to replicate your core skill set and get the desired results that you are able to achieve on a every day basis.
This post is not to justify the end use of a Realtor, but to empahsise that using a professional in buying or selling helps you in more ways than one.
But its upto you to choose the right Realtor.
Jack, a single suggestion from a realtor to spruce up the property and make value addition, can fetch upto 2 -5% more than the asking price. Just as a Comparative Market Analysis (CMA) can make selling a breeze for some dud properties too.
- While selling your home, here are six home-selling myths you should stop believing in:
Myth 1: The price you set is right
The price seller sets may not always be right. While you think your property is worth a sum but that could not be the case. The price of the property is defined by certain parameters including, circle rates, market rates, location, the age of the property, among others. Do not be under the impression that your property is going to fetch you huge money even before you begin to evaluate it. It will only lead you to disappointment.
Myth 2: Overpricing can help negotiate
A friend of yours sold a property and advised you to overprice your property if you want to fetch the desired price, in case the buyer negotiates. Do you think of it as a reasonable plan? It might just backfire. How? What if your property is priced higher than similar properties on sale in the vicinity? Your property will not be even noticed in the competition around, even if you are offering certain special facilities.
Myth 3: The longer the property on market, the better the price
Some sellers take pride in the fact that if their property is well-marketed for a long period, it can help fetch a better price. That is not the case. In fact, the longer the property on the market, the lower the interest of potential buyers. This only makes the buyer question why the property is not sold yet.
Myth 4: Quick offer. Is my property priced low?
Many think that if the property is sold soon as it goes up for sale it indicates that it is priced lower than it should be. This is a myth. If your property is sold as soon as it hits the market, you have hit the bull's eye by pricing it right.
Myth 5: It's okay to sell the property as it is
Selling a property without a home inspection could be a bad idea. Selling a property as it is can bring down the value of your property and certain discrepancies can even repel buyers. While you should not go out of the way and invest heavily in making the property saleable but ensuring that the basics including, fixtures, paint and other visible areas are well-maintained can do the work.
Myth 6: Your property is just right, it will sell itself
You must have been told this time and again by people around. Do not believe in all they say. A property cannot sell on its own. It is you as a seller along with your agent that will have to ensure that everything is in place to make the property saleable. So, what is important? Price of the property, listing on the leading sites, marketing pitch, photos, well-maintained and also, well-managed property visits, among other factors together ensure that the property is right and saleable.
A lot of thinking must have gone into it when you decided to stage your apartment in a manner that would charm the observers exceedingly. You did not think you could leave it to the imagination of those who come to inspect the house to understand the worth of your priceless home. By presenting before prospective home buyers the possibilities through staging, you turned the abstract into a physical form, far more appealing to the visual senses. In all likelihood, you paid a good price for the job and under no circumstances would agree to sell the property for anything less than it is actually worth.
Here are some priceless ways that will ensure you get want you want from your property without spending any more money:
Something smells right
Most of the hard work while staging your property is done to please the visual senses of the prospective home buyers, and rightly so. However, let’s try and engage their olfactory senses, too, without going over the top. Home freshners and electric defusers are all very good but nothing beats the sweet fragrance of fresh flowers. They are pleasing to the vision while immensely satisfying to the olfactory senses. The smell of freshly baked cookies coming from the kitchen, for instance, can be another way to ensure the visitor gains an urgent appetite to gain the property.
Let the music play
Would you not be tremendously pleased if you go for a property visit and hear the music system slowly playing something really engaging in the background? Property transactions are all about money but would it not be better in these matters are discussed while your nervous are soothed by a meditative musical impact? This could be a great way to impress visitors. However, do mind that the music should not be too loud and distracting. It must be more like background music, soothing and nice.
The sweet nothings Someone might have come to visit your property from 25 kilometres away. Would it not be a good idea to offer them a glass of water or a cup of coffee? And, if they are coming from a different city altogether? Would it be too much a trouble for you to ask them to have lunch with you. We guess not! These polite gestures are going to leave a lasting impression on the guests. While negotiating the deal, they will be eager to return the gratitude. More than anything, do not go bragging about the property. This will undo the good you did by extending courtesy, in any form.CommentQuote0Flag
- Here are some tips that can help sell your property faster and at a price it deserves:
Take a round of the house and make a detailed survey of everything around that needs to be fixed. From a small leak to a crack in the wall or even a broken hinge of the kitchen drawer can put off a potential buyer. It is not necessary to get into an expensive method or product when fixing. Also, don't dig too deep that the whole print takes a lot of time.
To make sure that your property goes out quick and to the right buyer, higher an agent that is well-versed with the market and has a list of potential buyers. Hiring them will also minimise your effort, too.
Enter in style
The exterior of the house is the first thing that buyer would notice when coming for a property visit. So, make a good first impression. There are few things you could do to that would improve the curb appeal instantly. These include clean windows and walkway, fresh paint on the façade and doors, clean curtains, and a well-trimmed garden.
Set the stage
Home staging ensures that you showcase your buyers how the property would look when decorated. This process also makes a buyer aware of different corners of the house and lets them imagine the set up they would want to have. Thus, making a property desirable. To achieve this make sure the property smells fresh; has the right temperature; is well-lit; and furniture in every room is arranged attractively with fresh flowers, decorative and furnishing.
Know your competition
Check the details of the other houses on sale in your neighbourhood. Learn and put to practice if there is something you find would make your house sell faster, too.
Set the right price
Before putting your house up for sale, do a detailed research. Remember to quote 10-20 per cent more than the market price as negotiations would bring down the price of the house that it deserves. However, do not overcharge or even undercharge the price of the house.
Get rid of the clutter
Showing a messy house to your potential buyer would put them off in an instant. So make sure the house is clean and organised. Take away as much clutter as you can. Tables and desk should be clear; eliminate the extra or unwanted furniture, wires and cords and even electronic items.
Once you put your house on sale, remember soon it is going to be someone else’s property. So, it is time you remove all the personal pictures, decorative and even paintings that are of your choice. Objects which are your area of interest may not appeal to others, so better to have the minimal and neutral in the house.
Keep your closets clean
A potential buyer looks for space and storage, too, when investing in a property, especially if it's for end use. Take out some stuff from your closet or if possible make few of them empty. Neatly organise the ones which still have your things.CommentQuote0Flag