Why Use a Realtor to Sell your
Home
The median home price for
sellers who use an agent is 16.0 percent higher than a home sold directly by an
owner; $230,000 vs. $198,200; there were no significant differences between the
types of homes sold. While many unrepresented sellers are motivated to save on
paying a commission, the price difference speaks for itself. Owners
without professional assistance also have problems in understanding and
completing paperwork, prepping the home for sale, getting the right price and
selling within the time planned. Agents know best how to prepare a home
and maximize value, agents provide broader exposure to the market and are more
likely to generate multiple bids.
Excerpt from Sellers
Earn 16% More by Using an Agent published in National Realty News, May 4,
2006
What Your Real
Estate Agent Knows That You Don't
by Eric Bramlett
When you make the decision to sell your home, you
are under no obligation to hire a real estate agent or broker to help you with
the sale. Nonetheless, most people prefer to hire a real estate agent in order
to better protect themselves. And, it also puts them in a better position to
successfully sell the home in a short amount of time.
When you hire a real estate agent, you gain
access to a wealth of knowledge that can help keep you out of trouble and will
help provide for a smooth transaction. Here are just a few things your real
estate agent knows that you probably do not.
The Federal Fair Housing Act
According to the Federal Fair Housing Act, you cannot discriminate
against someone when selling a home. The act defines seven different classes of
people who are protected against discrimination. These include:
- race
- color
- national origin
- sex
- religion
- handicap
- familial status
If you do not enlist in the help of a real estate
agent, you put yourself at risk of violating this act if you refuse to sell your
home to an interested buyer who may be in a protected class. In addition, you
might even accidentally violate these laws without realizing it. For example,
there are certain words that cannot be included in your advertisements for your
home because they are in violation of the Fair Housing Laws. Some of these words
include:
- bachelor apartment
- children welcome
- couples
- gentleman's farm
- golden agers
- handicapped
- integrated
- married
- mature
- mother-in-law quarters
- professional
- seniors
- singles only
- sports-minded
As you can see, some of these terms seem
perfectly innocent. Therefore, it is a good idea to get the help of a real
estate agent so you can tap into his or her knowledge and experience in order to
stay out of trouble.
State Real Estate Laws
Although there are similarities in real estate laws from one state to
the next, each state has its own set of rules that must be followed. If you do
not understand these laws, or are unaware of these laws, you can inadvertently
break the law when selling your home. In addition, by not being fully aware of
your seller's rights, you might actually lose out on money during the
transaction.
Taking Advantage of Connections
Aside from legal matters, a real estate agent simply has a vast number
of connections making it possible to sell a home more quickly and for a higher
asking price. Similarly, because people come to real estate agents when
searching for homes, you are able to tap into a much larger market of interested
buyers when you get the help of a real estate agent.
Because a real estate agent has experience with
selling homes, he or she can also provide you with tips to help increase the
market value of your home and to make the process go by more quickly. For
example, small things such as painting a room a different color can go a long
way when it comes to increasing the appeal of the home. By taking advantage of
the agent's expertise, you just might have a much more profitable selling
experience.
Do-It-Yourself Staging
Tips for Home Sellers
by Mark Nash
The buzzword today with residential real estate
agents is staging. Staging a home can change a homes atmosphere that appeals to
homebuyers and which may bring a higher price and accelerate market time. By
adding small decorative touches, rearranging or deleting furniture or creating
vignettes a home can look like a professional stager was hired. Mark Nash author
of 1001 Tips for Buying and Selling a Home has seen the best and worst
in home staging as a real estate broker in Chicago and he shares some do's and
don'ts for home sellers that want to try to stage their home.
Do's
- Pick-up recent home decorating
magazines. If you're not up to speed on current decorating trends it
will help familiarize yourself with how interior design is being marketed. Tab
pages with low-cost ideas that which will make your home say today.
- Invite a friend or real estate agent
over. A second or third pair of eyes will help you accent the best
and edit the worst in your home. Be prepared for some constructive criticism.
You want to hear it before you put your home on market, not as feedback from
prospective buyers. Go room-by-room with a worksheet so you can take notes.
Depending on how much time you have available for an update or a makeover, you
will need to prioritize and figure out what will give you the biggest return.
Do this at least two months before you put your house on market.
- Stage a home office if you don't have
one. They're not a trend; they're required for homebuyers in 2006.
Many homebuyers today work from home part or full-time or want a space where
they can organize their life and park a computer. Find an extra bedroom,
walk-in closet or an unused corner and convert into a home office. Make sure
there is a convenient electric, telephone and cable supply.
- Focus on living spaces. These
areas are where the majority of homebuyers will spend their time. Place a side
table and a floor lamp next to a comfortable chair as a reading corner. Float
sofas and coffee tables away from walls for a designer look. Use area rugs to
anchor furniture groupings on bare tile and wood floors. Living spaces must
have matching table lamps. Streamline family photos and place green plants in
room. Fireplaces should always be operable and on in season. Place groupings
of candles and clear glass bowls filled with natural potpourri on side and
coffee tables. Substantial wicker baskets can organize magazines, remote
controls and toys. Limit knick-knacks to make room for staging materials.
- Give attention to Kitchens.
Put away in a handy drawer all dish towels and rags. Reduce recipe boxes,
barrels of cooking utensils, excess-cooking machines, and cookbooks by
two-thirds to open up counter spaces. For a quick update put new hardware on
cabinets. Find an out-of-the-way place for a portable dishwasher. Clean off
everything on the refrigerator door. Omit throw rugs scattered around the
kitchen. Clean off windowsills to open up exterior views. Organize cabinets
with clear containers. If you can't see the back wall of a cabinet, buyers
will think you don't have enough storage space. Ditto closets. Budget to keep
a variety of fresh fruit in a glass bowl on the counter. Edit family bulletin
boards. Remove old curtains and install new wood blinds on windows.
- Spend time on sleeping and bathing
spaces. Often over looked in the frenzy to get a home on market,
these spaces can make or break a home. Buy a set that consists of a matching
bed skirt, bed spread, pillow covers and blinds to match. Buy a new shower
curtain and separate liner. Wash the liner often if mold develops. Add
complete sets of towels that coordinate with your new shower curtain. Clear
all cosmetics off vanity. If you have an over-the-toilet cabinet consider
removing and place a piece of artwork in its place. Remember to keep items in
the "too much information" category, out of view. If you have a king-size bed
in a small room, you'll pay to have buyers over come this negative, so get rid
of it now. Clear off dresser and nightstands of excess. Make sure the bedroom
receives the maximum natural light. Install closet organizers in closets.
Eliminate wall and door hooks for clothes. People might look under your bed,
no surprises please.
- Remember first impressions in entries.
A simple consol table with mirror over makes a nice entranceway. Make
sure this space is well lit day or night. Place adhesive under rugs so buyers
don't trip or slide.
Don'ts
- Use inexpensive silk flowers.
Nothing distracts buyers more that silk flowers that are past their time,
inappropriate for the season or thrown together. Throw them out, now.
- Forget to upgrade Fido's bowl.
I've experienced more unhealthy pet food bowls, watering stations and litter
boxes than I care to remember. We know you love your pet, but prove it to
homebuyers.
- Overlook window coverings.
Buyers today think less is more in window fashion. They want the most light
and the least embellishment on windows. And no layered treatments with sheer
panels please.
- Use low wattage light bulbs.
Dark, dim rooms are unappealing to homebuyers. They want to see what they
might buy. Replace bulbs with manufacture recommended wattages and especially
the burned out ones. The newer low-energy bulbs don't cast home or people in
flattering light.
- Think that everyone loves wallpaper.
No two people have the same taste in this instant decorator finishes. If it's
more than three years old, take it down and paint in a neutral color. And
wallpaper boarders are out.
- Paint with commitment colors.
If you've determined that you need to paint, stay away from bold or as I call
them commitment colors. Commitment colors are those buyers either love or
hate. It can be difficult for buyers to overlay their style on them. As one
client said to me "I don't live in a magazine."
- Think cleaning is a part of staging.
Cleaning is what you do before staging. Everything should shimmer and
shine. Don't forget the windows.
Selling Your Home -
What can you deduct & what do you pay taxes on?
Click Here ð
IRS Publication 523: Selling Your
Home
