Over the course of my 16 year real estate career I’ve worked with literally hundreds of buyers and sellers. In the past 12 months, I’ve sold 16 properties, and 13 of those were representing sellers. Although I very much enjoy the thrill of victory when working with buyers, there’s no question that buyers in our market deal with the agony of defeat more often. With the exception of a relatively rare down market, sellers have it better than buyers. Regardless, selling property can still be a stressful experience depending on how you approach it. Having a plan of action helps, and here are some suggestions:
1) Clear it out – properties show best when you can clear out the clutter. If you are still living in the property you’ll need to keep the house show ready. If you aren’t living in the property consider staging. Something clicks in the brain of a buyer when they see a stager’s furniture in a house, it can enhance the showing experience and generate more enthusiasm for the purchase.
2) Consider further sprucing up – Fresh paint and attractive flooring can go a long way. You might also consider fixing a few things that a buyer might find objectionable.
3) Inspect upfront – By doing property inspections upfront you minimize the amount of negotiating a buyer will do. In this market I’ve entertained and accepted offers without buyer inspections because the seller has done them up front. This can make the process a lot smoother.
4) Take care of permit issues up front – The last thing a new buyer wants to do is get permits on work that you’ve done to the house. Often they are frightened and mystified by the process, and it can stop a buyer from making an offer. There’s no mystery to it though, the City just wants your money and if you don’t get permits up front someone will pay steep penalties.
5) Disclose, disclose, disclose – Disclose everything you know about the house that materially effects the value or desirability. If you have to ask if you should disclose something the answer is always ‘yes’.
6) Fish on! – When you attract a buyer the object is to reel them all the way to shore. Sometimes these fish get feisty, and if you don’t have another fish ready to bite you need to be prepared to give the one on the hook some slack, i.e. negotiate. The old axiom in real estate sales holds true today: usually the first buyer you attract is the best.
7) Keep your eye on the prize – in general, when selling there is a significant payout to the sellers, especially if they’ve owned the property for a long time. In Marin County people make hundreds of thousands and even millions of dollars on sales. It's okay for a buyer to do a little negotiating on property deficiencies.
8) Trust your Realtor – Realtors have a fiduciary duty to their clients. We want you to make as much money as possible on the sale. This is our job and it’s one we live and breathe 24/7/365. We will do our best for you, and it’s in our best interest too. When I give my clients advise I feel like it’s the same advice I’d give to my closest friends and family.
9) Remain positive – Keeping a positive mindset throughout the sale process is important. When you think about all the good you are accomplishing, the things you’ve done to get to where you are, you should be proud for your efforts. Along with your Realtor you’ve done what you can to maximize the value of the house. You will do well.