February 16, 2015 by Jeff Lowen
Have you heard the market is on fire? We’re coming into Spring and you want to capitalize on the opportunity to get the most money for your home, right? Here are five quick tips that could make you a ton of it, regardless of timing.
1. Preparation Is Key
Lots of agents, neighbors, friends and family will suggest the “right” things to do to your home, if anything at all, prior to going on the market. Truth is, there is a specific “sweet spot” for you, your home and your situation. Why would you spend $50k on a kitchen remodel if it only fetches an extra $20k on the sale? Have a “Cost of living upgrade analysis” done, to determine what kinds of things you can do that will net the best return on your home investment for your market.
2. Get Yourself In The Right Mindset
Putting your home on the market just to “see what you get?” Many homeowners do. They’re not sellers. If you’re planning this approach, then be prepared to dive into the deep end of the pool with other, much more motivated homeowners that have a very strong reason to sell their home. I’m not saying don’t do it, but your odds are about as good as buying that lottery ticket this afternoon on the way home from work. No one wants to “give” their house away, but having a reason to sell is as important as the sale itself. Get yourself in the mindset of a positive outcome. Experienced agents match your reasons with the best possible result. By keeping your mind in that place, you’ll begin to see more opportunities to get your price instead of concentrating on why your home isn’t selling.
3. Keep Your Focus On The Sale
The sale of any home is like pushing a big ball up a steep hill until you reach the top and then it rolls down the other side with lots of momentum and can get easily out of control. KEEP YOUR EYES ON THAT BALL! Your agent will need to be strong in the beginning yet have lots of finesse to see it through. Remember John McEnroe? With his on-the-court antics, how easily he got his opponent to lose focus on the the most important thing. The ball going over the net. Keep your eyes on your ball, no matter what chaos is happening around you.
4. Demand Constant Updates And Communication
If you’re the type of person that would turn over your largest asset to just anyone, I’m guessing you’re not – constant updates and communication about what the market is doing from day to day and week to week keeps everyone on track. Giving you critical information to change your approach, strategy or direction if necessary, before it’s too late. Market shifts cause decline and appreciation quickly, so meet with your agent regularly to discuss this.
5. Understand The Process And Strategy
In this day and age of a kinder, gentler world, we allow our feelings and emotions to mix a little too much with our business decisions. Unless you’re willing to pony up a few thousand for the sake of ensuring everyone feels good, you’ll need a strong agent that checks theirs at the door and understands this. I’ve never understood how attorneys can tear each other’s head off in court, then go out for drinks later that night, when some real estate agents fold at the first objection. I’m not suggesting you find an agent that keeps a billy club in her brief case, but there is a solution for your real estate needs that doesn’t include giving up the farm and everyone walks away satisfied that their goals have been met.