What’s The Success Rate of Homeowners Selling Their Own Home?

What’s The Success Rate of Homeowners Selling Their Own Home?

Not Bad! But the real questions is, “What’s Involved in doing so?

To Understanding How To Sell Your Own Home!

When selling privately you have actually decided to become the ‘real estate agent’.

And to ensure you have a successful sale, you will need to implement the very same activities agents do to cause a sale.

What Are Some of Those Activities?

Your 4  Selling Goals

1. Experience minimal discomfort during the marketing stages of the sale.

2. Sell your home at the highest possible market value price.

3.Eliminate last minute surprises that often  cause a sale to fall apart

4. Sell your home in the fastest possible time frame without it negatively impacting price.

Understanding The Success Odds?

The Facts

According to association statistics, every year 3% to 13% of homeowners nationally attempt to sell without employing the services of a real estate company.

How Many Private Sellers Are Successful?

Only 3% to 9% of those who try are successful when selling privately. (Failure rate is 91% to 97%)

How Long Do Private Sellers Sell Privately?

The average private seller will try to sell on their own for 37 days before hiring the services of a real estate professional.

Why Are The Majority of Private Sellers Unsuccessful?

Question: Price

Were they asking too much for their home?

Answer: No

Private sales are generally priced at, or near, market value.

Then Why Were They Not Successful?

They failed because their marketing process did not attract a qualified buyer.

Actually, marketing process is of more importance than is price.

It’s The Organized System Created To Increase The Odds For Success

Question:

Do you mean open houses, advertising, sale signs, etc.?

Answer:

No. Those are activities agents use to service homeowners. Activity and process are not the same.

Then What Is Marketing Process?

It is a system designed to solve the #1 problem sellers have – how to locate a qualified buyer for their home.

This system is called the Multiple Listing Service,  (MLS), and is proven to be the most effective home marketing process on the planet.

Realtors are members of their local MLS and are ready to add your home to the list of homes where all buyers start their search and usually end up purchasing.

The Importance of a Home Evaluation and Understanding How to Get One

It doesn’t matter the side of the fence you’re on–selling a home or buying one–it’s always smart to have an evaluation carried out on your property. As a seller, the evaluation is important because it allows you to determine a fair selling price. As a buyer, an evaluation enables you to see if a seller is pricing the home too low or high. In addition, many banks will require that you get a home evaluation before approving you for a loan.

You Always Need a Home Evaluation weather Buying or Selling
You Always Need a Home Evaluation whether Buying or Selling

Buying or selling a home can be a bit of a tricky process. After all, there are many steps that have to be carried out, but with an experienced Realtor on your side, you can rest assured that the services provided will come from a professional who knows what their doing. This is where I step into the picture. It doesn’t matter the part of the buying or selling process that you’re in, I’m here to help. Most importantly, if you have’t had a home evaluation carried out yet, I can assist with this too.

There is much involved in a home evaluation, with the main purpose of the inspection being to determine the overall condition of the house that you’re wanting to buy or sell. In addition to repairs being noted during the evaluation, upcoming maintenance expenses will also be identified.

You can’t go wrong with a home evaluation. As mentioned before, an evaluation may be required by a loan lender, but even if it’s not, before you purchase a home or put your current one on the market, contact me. I can help you get an evaluation on your home.

What Are The First Steps If Your Thinking of Selling Your Home?

What Are The First Steps If Your Thinking Of Selling Your Home?

If your thinking about selling your home and you don’t know exactly where to start you’re at the right place.

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The very first step is to find out what you owe on your home or if you don’t have a mortgage that’s simple, you most likely owe nothing.

To find this information you can just look at your mortgage statement and if it’s not there simply call your mortgage company and ask for a pay off statement or ask for it right over the phone.

Step two is to find out what your home is worth, which is not so simple. You could get your home appraised if you have around $400 but this will give you a very accurate price, which you can use in your marketing strategy later.  (Make sure to give a copy to your Realtor)

You might also think to go to the internet and there you will find sites like Zillow, Trulia or some other major real estate site. The problem with these sites is that their not very accurate. You see they don’t focus on specific neighborhoods like yours. They give more of a general price and a lot of times they are way off.

Get a Free Home Evaluation from a Realtor
Get a Free Home Evaluation from a Realtor

Another way to find the price on your home is to talk to a Realtor. The difference between the last two options is that a Realtor doesn’t charge and if he does don’t use them. Most Realtors can give you a very close price but of course they can give you a more accurate price but they will need to view the home first. Also a Realtors home price is going to be more accurate that those real estate websites. The tricky part is, which Realtor should I ask to help me find a price on my home? The answer to that question is to pick one you like or ask for a referral. Maybe even get a few different opinions from a couple of Realtors and later if you decide to sell your home you can pick the Realtor you feel gives the best customer service and uses the best marketing material which they used to give you a price on your home. This will show if they are professionals who have  good customer service, along with,  if they use good marketing materials to sell your home.

Now that you know what you owe on your home and what your home is worth. What’s the next step? You now need to count the cost of selling a home. You see there are a lot of costs to selling a home such as Realtor fees, escrow, taxes and others fees. To help you with that your Realtor can get you an estimate of all these fees.

For a Free Home Evaluation and a estimate of the costs involved please contact us by filling out the box below. We would be happy to help you find out what your home is worth and what it will cost to sell it. Thanks for visiting.

What Are The First Steps in Buying A Home?

What Are The First Steps in Buying A Home?

The first step in the buying a home process is to find out if you qualify for a home and how much do you qualify for?

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A lot of first time buyers skip this part and in many cases this leads to disappointments. Why? They start looking at homes and start to dream of the perfect home, they start to imagine their family living there, they see the furniture they’re going to buy and many other things they are wishing for, so then when they finally get to the nuts and bolts they find out that they don’t qualify because the home they were dreaming about is beyond their budget and they are crushed.  We at HouseSold want to save you from that disappointment.

Avoid being disappointed by following the first steps
Avoid being disappointed by following the first steps

The absolute first step is to find out what your FICO score is or credit score. You can get your free credit report by going to www.annualcreditreport.com. There you will get your credit report from all three credit bureaus. My advice is that you might only want to print out one credit report at a time, so then every four months, if your working on improving your score you can check back to see if your score has improved. They actually charge for the credit score itself which is only a few bucks and which you will need to see if you’re above the minimum requirement for a loan.

To qualify for a loan in California in 2014 the lowest credit score I’ve found is that it has to be above 550. If your credit score is above that your next step is to fill out a loan application from a lender who will help you see how much you qualify for. The lender will need a list of paper work from you so once you know your FICO score and your above the score to get a loan you can start gathering these basic items such as:

1.  Pay Stub

2.  W-2 for the last two years

3.  Income Tax Returns for Last 2 Years

3.  Bank Statements

4.  Self Employed: Profit and Loss Statement

5. Gift letter paper trail

6. Rental: 12 months of cancelled checks

7. Others might include: Child support, bankruptcy discharged papers and whatever else the lender will need to process the loan.

By doing this ahead of time you will help speed up the loan process.

These are just the first steps in starting the buying process. If you have found this episode helpful please leave a comment. For the next steps of buying a home make sure to subscribe to my blog and let us help you achieve success in your home buying journey.

 

 

 

Why You Should Not Over Price Your Home

Why You Should Not Over Price Your Home

Here are three reasons why you shouldn’t over price your property.

  1. Fewer Buyers
  2. You Just Help Sell the Competition
  3. Frustration for You & Your Agent

Fewer Buyers: You just over priced your home for qualified buyers that are looking for a certain price range. When you alienate these buyers they never see your home. Buyers today are very educated when searching for homes and they know the value of properties. If they don’t you can be sure their agents know and they will advice them that your property is overpriced. This of course results in less buyers viewing your home. Less buyers less views and less or no offers.

Buyers Agents
Price It Right the First Time and You’ll Attract More Buyers

The Goal: Get as many qualified buyers to view your home and price has a lot in attracting them. So you need to price it right the first time.

You Just Help Sell the Competition: When buyers compare your over priced property with others in the same neighborhood they feel good when they make an offer on your competitors house because now they feel like their getting a deal. Buyers as I mentioned are educated when it comes to finding a home at the right price because they don’t buy the first home no matter how much they like it. If it’s overpriced they can’t afford.

Frustration for You & Your Agent: Some agents will take your overpriced home for many reasons but a good agent understands that for the home to sell at top dollar and quickly the home has to be priced right the first time and never overpricing it is pricing it right. Most sellers feel their home is worth more than everyone else is but a honest agent will tell them the truth. When a agent speaks up it saves you the seller and your agent from being frustrating when the home doesn’t sell.

When I mention overpriced were talking tens of thousands overpriced not just thousands.

My advice when it comes to pricing your home right the first time is to you really do your homework and find out what other comparable homes have sold for and if the market is rising, leveling off or is it in a down cycle. If you are set in your over pricing and your agent recommends a more realistic price you need to get in your car and view your competition to see what buyers see. This will help you understand where you realistically need to be in pricing your home.

When You’re priced right the first time you will have more buyers viewing your home and the more buyers viewing the better chance of getting your asking price and even better having multiple buyers fighting to win your home and possibly making more. It’s not unusual to get thousands more when you price it right the first time.

Why Real Estate Agents Are Like Coaches

Why Real Estate Agents Are Like Coaches

A coach is someone who has the knowledge and skill to win or succeed. They have the experience in winning and losing. The difference between a great coach and a average coach is that the great coaches don’t make it a habit of losing. As a coach you can’t win them all but you still can win the championship if you win enough games.

Like coaches real estate agents are in the game of buying and selling everyday and the more transactions they have the more knowledge and skill they gain. The difference between a skilled real estate agent and a coach is that a real estate agent wins most of the time which is great for their clients.

Why Real Estate Agents are Like Coaches
Why Real Estate Agents are Like Coaches

A coach trains and teaches his players how to be their best so that they can win the game. They don’t sped hours training to lose. The goal is to have the skill and knowledge to succeed. If the players don’t follow the coaches advice and train properly they have a good chance of losing the game and will not make it to the championship, which is the ultimate goal. Real estate is no different, the goal is get the house sold for top dollar or win the bid to purchase at the best price.

When you have a great coach or a great real estate agent it’s important to listen to them because they have the knowledge, experience and skill to succeed. But of course it’s up to you to listen to the advice of the seasoned coach. My experience is when a client understands that I have helped others buy and sell and have been successful in getting them their desired outcome and it was smooth transaction, everyone walks a way feeling like a champion.

When your thinking about working with a agent make sure you pick a winner who has the knowledge, experience and skill and who will make it a joy to work with so that you can become a champion in your real estate transaction.

Helping People Who Are Thinking About Buying or Selling a Home to Understand the Real Estate Process and to Be Successful in Making a Educated Decisions.