Does Your Home Meet the Super 6 Criteria?
Okay, so you want to sell your home, awesome! Whether or not you realize it, there are many factors that will determine how much your house will sell for, if it sells at all. Your home needs to fit in with the Super 6. Okay, so what the hell is the Super 6? Let’s break it down…
Like it or not, your home’s location will have a huge bearing on how much it will sell for. There are a ton of things that go into this. How close is it to public transportation? How close is it to local shopping? How safe is the area? Is there pride of ownership in the surrounding blocks? Is there any blight?
2. Condition of the Home
Ok, come on guys, this is a common sense factor. What kind of shape is the home in? Is it well kept? Does it show pride of ownership? Are your kitchen and bathroom old or dated? Do you have wallpaper on the walls? How about your rugs? Does the carpeting have permanent stains? What about odors in your home? Do you have pets? Is there an odor alerting your visitors when they walk through the door that you own pets? What about your roof? Are there any spots on the ceilings showing that there are roof leaks or issues? What you need to keep in mind here he said anything that is visibly wrong with your home becomes bargaining leverage on the purchase price. You will need to make sure that your home needs little to no repair to keep negotiations to a minimum.
Ok, this one’s a no-brainer. If you don’t price your house properly, it won’t sell. It just wont. People will not pay $10,000 more to buy your home when they can have a house in better shape and cheaper for far less. You need to sit down with your Realtor and come to a price based on comparables. You must compare the homes apples to apples. Your agent will bring you copies of active listings of homes for sale with the same number of bedrooms and bathrooms, garage, etc.. They will also show you listings of homes that have sold within the last 6 months, so that you will have the most accurate idea of where you should be priced to get your home sold quickly and for top dollar.
4. Market Conditions
Obviously, the real estate market has been all over the place for the last couple of years. Some towns get hit harder than others depending on the circumstances. For instance, we are very close to Atlantic City, New Jersey. As you know, many casinos have closed. Thousands are out of work. Many cannot find jobs and are collecting
unemployment. Will some of those people lose their homes? Maybe, maybe not. But what that does mean is that there will be more short sales. That can have a direct bearing on what you can ask as a selling price for your home.
The same way the housing market is affected by certain conditions, so is home mortgage financing. If you remember, back in the day during the real estate boom, interest rates were at 13%. Now, you can get mortgage financing for a home at an average of 4%!
6. Agent Savvy
You can have all of the first five criteria, but if your agent sucks lemons, none of it matters. Your agent needs to be savvy enough to negotiate a deal for you to get sold as quickly and for as high a price as possible. You need to be sure, BEFORE you hire an agent, to find out what they are going to do for you to get your home sold. What kind of marketing do they utilize? Are they internet savvy? Will your listing be syndicated to multiple websites? How about videos? Will they make videos of your home and create a website just for your home for sale listing? I do. Until what time can showings be scheduled for my home on any given day? I use a service through my company that schedules showings with a live human being by phone until 11pm on weekdays and 7pm on weekends. I can pull up outside a vacant house with a for sale sign on it at 9pm, pick up my cell phone, get a lockbox code and be showing that house 3 minutes later. Can your agent do that? Hopefully, they can and will.
So there you have it. That’s the Super 6. Make sure you have them all covered. Oh, and, IF your prospective agent sucks lemons, call me BEFORE you list with them. I can get your home sold! :0)
About the Author: Christine Gerbehy is a Realtor for Berkshire Hathaway Fox & Roach Realtors in Northfield, NJ. and is e-Pro certified. Realtor, writer, blogger, wife, mother and zookeeper, I LOVE what I do. ALL of it. Let me help you to buy or sell your property!