home selling tips – Zipi Wiki https://www.zipi.wiki Find the Best Agent for You Fri, 05 Oct 2018 18:29:23 +0000 en-US hourly 1 Open House, The Benefits and Drawbacks Of Having One https://www.zipi.wiki/open-house/ Mon, 24 Sep 2018 22:15:02 +0000 http://zipi.wiki/?p=1001961 Open House, The Benefits and Drawbacks Of Having One
Having an Open House is a long-standing tradition when it comes to selling real estate. The goal of an open house is to expose more people to a home for sale than otherwise would be. By advertising the open house, the hope is to bring more people in. But does an open house really work?
Open House
Most real estate agents should take the time to explain the pros and cons of having an open house to their client. But not having an open house can take away from an agent’s personal gain, as well, (aka generating leads), so you want to make sure you know what is at stake with an open house, beforehand. Let’s take some time to look at the benefits and drawbacks of having an open house and if it is right for you.

Benefits:

1. You Choose The Timing

Unlike home showings, which can pop up at the last second, an open house is scheduled well in advance. Holding an open house has the potential to put your home on the map and allow many people to see your home when you have the time and input to stage it exactly how you want it. You set the scene! You’ll have ample time to prepare for the event and you’ll get many prospective buyers in the door all at once. It can make deep cleaning easier and you know things will be spotless when people are walking through your home.

2. Attracts Inexperienced Buyers

Many don’t know how to start searching for a home, so heading to a few open houses is a great way for them to get their feet wet before really committing to anything. It helps them to keep your home in the back of their head as they look at other homes, because they will use it for a reference point for what they liked and didn’t like. It could be easy to sell them on the points of your home, as they don’t have much to compare it to yet!

3. Buyers Don’t Feel Pressured

People are generally more relaxed when they head into an open house. They know they aren’t going to be put on the spot with decisions and the focus won’t be entirely on them, since others will be at the open house, as well. It can help them to really explore things and make a more positive connection with your home, as well, without being rushed!
Open House

4. Actual Browsing

Let’s face it. People search for homes on the internet these days, where there are limitless photographs and videos showing homes all over the country. But, there is nothing like walking into a home and seeing how the space feels to you first-hand. Pictures can be tweaked and videos can only be so long and may have missed the incredible garden you have, so having people in your home physically is a much better way to sell them on it.

5. Open To All

Your open house will bring in potential buyers who may have been too lazy to actually book a showing. It can draw in visitors more than just a simple listing on the internet may have, as well. With advertising and signage in your neighborhood, it will catch the eye of both the casual and serious potential buyers in advance. It may also attract brokers who want to team up on the sale and can offer advice on ways to assist a home seller faster.

6. Additional Exposure

An open house can give additional exposure to your listing through promotional advertising, internet ads and street signs. Without maximum exposure and a strong marketing system, the chances of selling a home are greatly reduced. Every little bit could potentially help!

7. Feedback

Regardless if it’s good or bad, an open house is a great way to hone in on feedback from multiple sources that your property is getting. While some of it may sting, it’s much better to learn about any potential problems this way before a sale falls through because of an inspection issue. Also, remember that some comments will be valid, while others will be random and unhelpful. Take the good with the bad and remember that you can’t please everyone!

Open House

Drawbacks:

1. Security Issues

This is one of the biggest drawbacks to having an open house. There is the potential for theft when you let strangers in off the street to walk around your home for an undisclosed amount of time. If your open house isn’t busy, the real estate agent can spend time keeping an eye on things, but when you have multiple people in your home at once, it can be difficult to make sure everyone is where they are supposed to be.
A majority of people are there for the right reasons and are there to learn more about it and take a peek. But there are people who may be coming in to look for access points, security weaknesses and valuables.

2. Theft

This ties in with our first drawback, but it deserves it’s own point. There have been many documented cases of people breaking into homes for sale to steal things. With an open house, though, the risk is even greater. Burglars can walk right in, see what they want to take and how they can get it out, and than they take it. Unfortunately, this happens all over the country and can be an open invitation to make theft in your home more possible.
If you do have an open house, make sure to remove all valuable items before the event. This can include prescription drugs and other items, as well! Also talk to your realtor about their procedures during an open house. Do they take precautionary steps? Make sure you understand that theft can happen and no realtor is going to take responsibility for things that go missing during an open house.

3. Unqualified Prospects

Let’s face it. Many of us have driven through a gorgeous neighborhood that we know is a little out of our price range. But than we see the Open House sign and ponder… “why not?!” Or, you may see a cute house that you’ve always loved and just want to see how they decorate it inside. While there is no problem with this and there certainly isn’t anything illegal about it, you have no intention of buying the house, thus wasting the agent’s and the seller’s time. This happens all over, so know that many who may be walking through your open house, may be doing the exact same thing.

4. Nosy Neighbors

Finally! It’s the one time when EVERY neighbor can come and check out your house to see how you live! They’ve been curious for quite a while and now they are going to come over in droves. The problem? You’re not really interested in them wandering around your house just for the heck of it. Unfortunately, it is what it is, though, and there is no real way to stop them. When you have an open house, always expect the busy bees to stop through, then start discussing it with the rest of the neighborhood on what they loved and what they can’t believe you’ve lived with for so long!
Open House

5. Seller Competition

Others in your area who may be trying to sell a similar home may pop in to see what the differences are between your home and theirs. These visitors do no good for your chances of selling, but it makes sense to check out the competition! They may see things that you are doing great and take it back to their own home, or may reevaluate their listing price based on yours.

6. Agent Motives

Many people who are walking through your open house may be unattached to a specific real estate agent. That makes this the perfect time for your agent to establish a relationship with this buyer and turn them into one of their own. Make sure you talk with your agent about their intentions, because you want to make sure you’re not hosting an open house only so they can pick up additional buyer’s instead of selling your home! It’s the perfect place for the agent to build rapport with people. You can avoid this type of behavior by choosing a real estate agent that is perfectly matched for you.

7. Rarely Results In A Sale

This may be the biggest reason why an agent will talk a homeowner out of having an open house. Unfortunately, it’s a fact that homes rarely sell specifically as a result of an open house. According to the National Association of Realtors, the number of homes sold due to an open house is shockingly low. Only 2%! That is not very promising.
It’s much better to have private showings, where many of the interested parties would have already been financially vetted and clearly interested in seeing your home for one specific purpose – to buy it!
Ultimately, it’s the seller’s decision when it comes to scheduling an open house. While they are not required, this list of benefits and drawbacks to having an open house will make you aware of the positives and negatives that may occur. Today’s home buyer is much more technologically savvy. They can do most of their research online and look at virtual tours before visiting a select number of houses they truly are interested in.
]]> Tips for Showing Your Home https://www.zipi.wiki/tips-for-showing-your-home/ Thu, 20 Sep 2018 21:04:34 +0000 http://zipi.wiki/?p=1001943 Tips for Showing Your Home
When it comes to Tips for Showing Your Home, curb appeal is a big deal! First impressions are everything and you only get one chance to make your home stand out. You want to engage the buyer emotionally because let’s face it, many times the decision to buy is based more on emotions and less on logic. You always want people looking at your home to start seeing themselves living there, but to do this, you’ll need to pull out all the stops when it comes to how your show your home. These Tips for Showing Your Home will help you accentuate your home’s positive attributes and take attention away from any negative aspects.
Tips for Showing Your Home

1. Make The Exterior Of Your Home As Presentable As Possible

When potential buyers drive by your home or are ready to take a tour of it, the first thing they are going to see is the outside. How does your yard look? Is the grass cut and raked? Make sure you go the extra mile by doing the following, as well:
  • Keep the driveway clean and passable. It may even be time for a seal coat to help your driveway hide its age.
  • Make sure the shrubs and plantings around your home are in good order and trimmed up.
  • Plant some seasonal flowers near the entry to add color and warmth to your outdoor area.
  • Is your walkway presentable? It may be time for a quick power wash to have everything look its best.
  • Same goes for the siding and windows. Do you need to spend some time cleaning or power washing the exterior of your home to get it back to its former luster?
  • Make sure your door and entry way sparkle! Buyers will notice this area the most when they enter their home.
You will also want to make sure you are keeping these things up in the yard during the process of selling your house. A well-maintained yard will add to the curb appeal and help people envision their own lives there when they arrive.

2. Brighten Up Your Home

As a general rule, it’s a great idea to go through the house and turn on every light you have before a showing. Even appliance and closet lights. This helps buyers see everything in your home and they also won’t have to search all over for light switches. You also don’t want to make them suspicious of any areas that are left in the dark.
If you have areas in your home that are a little dark, think about brightening them up by placing some new spot lights on the floor in dark rooms with little light. And generally, you’ll want to make sure all the lights are on, even during the day, for a showing.
Even better? Let the natural light shine in! Open up the blinds and curtains and let the sunshine in to show off your windows. It can make your rooms feel bigger, which can make a great impression. Just use common sense and make sure you take a peek outside to see what your potential buyer will see. If your view is less than amazing, feel free to keep some curtains closed to downplay that ugly fence outside.
The best news? This tip costs you next to nothing!
Tips for Showing Your Home

3. Don’t Turn Away Showings

While it may be inconvenient, you want to make sure you stay flexible when it comes to showing your home. Make it work! While there may be instances where it is necessary to ask for another time, you should generally be prepared to leave the home at any time, whether it is convenient or not. That means it’s important to keep everything clean and in order on a daily basis while your home is on the market!
Remember, you will make things awfully hard on yourself and your agent if your potential buyers can’t get into your home when they want to. Many buyers like to look at multiple houses in one day and if they happen to see yours while they are out and about, they will want to try to get in! Therefore, try to keep showing restrictions to a minimum. It may be a missed opportunity to sell your home!

4. Offer Snacks and Refreshments

What better way to get potential buyers to stay and look around than by providing snacks and refreshments at your home?!
Leaving refreshments is a nice gesture that could influence a potential buyer in a positive way. Even if you just leave a bowl of wrapped candy or another easy treat near the front door with a small note thanking them for coming to see your home, you will leave a positive impression.
If you want to entice them to linger and notice more amazing details about your home, offer more food! Finger sandwiches, cookies, soft drinks, water and desserts are all great ideas. Buyers who are nibbling on snacks aren’t as eager to leave and they may notice something they previously missed that they love.
Just don’t forget to set out plates, napkins, cups and silverware, too! Also, provide a waste receptacle in plain sight for people to throw away their trash.

5. Leave The House

Stay away! You may be tempted to follow buyers around and explain different upgrades and amenities that your home provides, but don’t! Buyers don’t want to talk about the house in front of you. They need the opportunity to talk about the home and be free to speak their minds. Let your real estate agent do their job and just go away!
If for some reason you are unable to leave, at least go outside on the porch or in the yard, or take a walk in the neighborhood. Let your home speak for itself. Don’t create an awkward encounter!
A good rule of thumb is to plan on being out 20 minutes before the scheduled showing. But, make sure you do a quick once-over through the house as you’re about to leave in case you missed something small. You don’t want to leave out your valuables, jewelry, financial information or other personal items!
Tips for Showing Your Home

6. Encourage Buyer Feedback

Near the area where you provide snacks and refreshments, it’s a great idea to leave pens and a stack of pre-printed questionnaire cards for buyers to fill out. They may feel more obligated to respond to your request after being fed. And that showing feedback you receive could prove invaluable!
Don’t you want to know what they are thinking when they walk through your home? Are there things you could easily improve to make the showing process better?
Your real estate agent should have a system down for being able to allow potential buyers to allow feedback, but you should double check what it may be. It is something that you should insist on when hiring an agent!
Just make sure you allow buyer anonymity.
You may also want to print cards that buyers can take that will provide further information that they may have missed as they were passing through. There is so little time to make an impression, make sure they leave with something that highlights the great things they may have missed. Like that antique chandelier or what appliances are included.

7. Provide a Comfortable Environment

Don’t worry about saving money when it comes time to showing your house. If it’s hot outside, make sure the air conditioning is on and your home is at a comfortable temperature when you have a showing. Same for in the winter months. Turn on the heat so that it is warm and inviting.
As an unexpected bonus, it may make buyers stick around a little longer than they usually would on days when the weather is particularly warm or cold. The longer they can find shelter from the outdoor elements, the more likely they are to see additional great aspects of your home!

8. Play Down Any Scents In Your Home

While you want to make sure your home smells fresh and inviting, you don’t want to go overboard. Throwing on multiple scented candles or other aromatherapy products might seem like a great idea, but that particular smell may be a huge turnoff to some buyers. You also don’t want people thinking you are trying to cover up something, either.
Some people are even allergic to certain scents and deodorizers, so don’t spray the air with constant air freshener or spray perfume in the bedroom for the same reason.
If weather permits, it’s a great idea to open the windows to bring in the fresh air. However, if you live in a noisy area or the wind is whipping through your home, think twice about having the windows open.
You also don’t want to cook anything with too strong of a scent when you are in the middle of selling your home. The last thing someone wants to smell is the strong odor of garlic, onion or fish when they walk in! Bad odors can easily kill your home sale!
Remember, though, that if you are going to bake cookies or simmer spices such as cinnamon in water on the stove for a good scent, you better have that food out for buyers! You don’t want people coming in smelling delicious baking smells, only to be disappointed that there aren’t actually any baked goods to nibble on!

9. Have a Plan for Pets and Children

Showing a home when you have pets and children can make life a bit more challenging, but it’s not impossible. If you have indoor pets, you’ll want to make sure that during your listing period, you are particularly tuned in to cleaning up after them. Ask a friend, neighbor or your agent to do the sniff test. Can they tell you have a pet in the home?
You may want to purchase a few air purifiers to add to your home for buyers that may have pet allergies. It’s so important to be diligent in keeping things clean around the home (and yard) when you have pets.
Also, don’t leave your pets home when you have a showing. Buyers may have allergies, they may be afraid of animals, or your pet may just be a major distraction while you have a buyer in the home. Make sure you have a plan on what to do with your pets so they are out of the house for all home showings.
Same goes for children. Parents know just how many toys and accessories accumulate on the floor when kids live in the home, so it will be important to have a daily cleaning ritual in place to keep the clutter at bay. Consider buying multiple storage bins for toys and items that may otherwise be out and about during a showing.
Tips for Showing Your Home

10. Accentuate the Positive

Have a fireplace? Light it up, no matter the season! It can really add to the homey atmosphere in a room, as well as throughout the whole house. Keep it small and make sure you adjust the thermostat accordingly, but this will be a great selling point for your home!
If you want to play music, make sure it’s pleasant and at a low volume. Pick something that sets a quiet and comfortable mood and isn’t distracting. Keep the volume low enough that people can hear each other when speaking and it will be a lovely homey addition to their experience. And if you have a speaker system in your home, it’s a great way to show it off!
If you have anything else in your home that you want to highlight, make sure you do something to get buyers to linger in that area a little longer! Have a stunning view from the kitchen? Built-in bookshelves or an amazing staircase? Accentuate the positive!
You’ve likely put a lot of effort into getting ready to sell your home. You are creating an atmosphere and mood that can be felt and enjoyed by everyone walking through the door, so don’t let it fall apart after those first couple of showings! Keep coming back to our Tips For Showing Your Home!
]]> Negotiating Buyer Offers — What To Expect, How To Counter-Offer https://www.zipi.wiki/negotiating-buyer-offers/ Tue, 12 Jun 2018 19:18:56 +0000 http://zipi.wiki/?p=1001888 Negotiating Buyer Offers
Selling your home is a major financial transaction in your life, and negotiating buyer offers may be the secret to get your best price. It is rarely as simple as accepting an offer and having it paid out to you. Negotiations can go back and forth for weeks before you and the buyer are finally ready to finalize a deal. So what is the best way for negotiating buyer offers?
When dealing with counter-offers, make sure you are prepared and understand the strategies that can be employed when negotiating buyer offers. It’s important to understand counteroffers, which will help you get top dollar for your home. It will also have a significant impact on how much money you walk away with!

Negotiating Buyer Offers

What to Expect When Selling Your Home

When you put your property on the market, you should have a pretty good idea where it stands in the market. You’ll know this from working with a knowledgeable real estate agent. They will have taken specific factors into consideration to obtain a smart and fair list price and will have determined what kind of market you’re selling in. Will your home attract attention through your location, features and conditions?
But once you finally list your home, all bets are off. Buyers may soon begin the dance of putting an offer on your home that isn’t exactly what you asked. This is when you will want to use these skills when negotiating buyer offers.
There are times a buyer’s agent may contact your agent. They want to see if you are firm on price, whether you have had any other offers and when you are looking to settle. Overall, they are looking for leverage before putting in that first offer. Make sure you hire a great agent that knows how to handle these prodding questions. The buyer is potentially looking to make an offer well below your asking price. This can determine whether you sell for thousands less or get what you expect when you close. So, let’s get you prepared!

What is a Counter-Offer?

TheBalance.com does a great job in discussing counter-offers and how they are created by a home seller after a potential buyer has submitted an offer to purchase. Often, counter-offers inform a buyer that they are willing to negotiate and will accept their offer, subject to a few changes. These can address any of the following items:

  • Asking for a higher price

  • Increasing the size of the earnest money deposit

  • Refusals to pay for certain reports or fees

  • Changing the closing date

  • Excluding or Adding personal property from the sale

  • Modifying contingency timelines

  • Fixing specific home items

  • Early release of deposits

  • Fixing an agent mistake

Negotiating Buyer Offers

For example, perhaps you didn’t offer appliances in the original sale price … and now you have a potential buyer interested in keeping all of the appliances in the home to finalize the sale. After consideration, you agree to this, with perhaps another small amendment. Your agent would now send the buyer’s agent a counter-offer, with the changes above being reflected in the contract.
When negotiating buyer offers, always look at the details of the agreements. For instance, time is often of the essence. Counter-offers contain expiration dates, just like purchase offers. This means that you can’t accept another offer while the buyer is deciding whether to accept your counter-offer. It also compels the buyer to make a decision. This way, you can either get your home under contract, or move on to the next potential interested party.
Just remember that while a counter-offer is outstanding, your home is effectively off the market. Sometimes other potential buyers won’t submit an offer if they know a negotiation is underway. If the deal falls through, though, you’ve suddenly added days onto how long your home has been on the market. The more days your home has been on the market, the less desirable it appears, even if it was not of your own doing.

How To Present a Counter-Offer When Negotiating Buyer Offers

Once the buyer presents an offer to you that isn’t on-point with your original listing, you generally have one of three options when negotiating buyer offers:
  • Accept the new offer as presented
  • Decline the Offer and tell them exactly why you are doing so
  • Offer the counter-offer to close the gap between what both parties want
Some buyers may accept the new counter-offer that has been given, or they may choose to counter the counter. You also have to be prepared that they may elect to just walk away. Be prepared and know the possibilities so you and your agent can act accordingly.

Negotiating Buyer Offers

Knowledge is Power When Negotiating Buyer Offers

Knowledge is power in negotiations! Therefore, have your agent attempt to glean as much information about the buyer as they can!
Negotiating buyer offers requires diligence, patience and understanding. Especially when it comes to something as emotional as a home sale! Know the condition of your home. If any problems become known, counter-offers often may not come until the item is fixed and taken care of. Fix the leaky roof or anything else that may be found during an inspection or an appraisal.
With this in mind, it may be best to have a home inspection before putting your home on the market. This will help you be prepared and know what you may be in for if someone is asking for a repair on your home before they buy it. Selling your home with known issues can put you at a disadvantage when negotiating buyer offers!

Responding to Additional Counter-Offers

Make sure your agent reviews every aspect of a counter-offer that comes in. You always want to establish a baseline BEFORE negotiations for when you will walk away from a buyer. Do you have a price point in mind for how much you want to make off the sale? When things start getting murky in counter-offers, make sure you are evaluating items with a clear head and not your heart.
You may not want to see certain contingencies in the offers you receive. As an example, you may not want to see an offer contingent on the buyer selling their other home. You may be perfectly fine declining this offer, as it will be easy for another buyer to come along in a hot seller’s market that may not have this issue to slow down the sale of your home.
In a seller’s market, you are likely to receive multiple offers and will have the ability to pick and choose what you may or may not be willing to negotiate.
Perhaps, you will reject the counter-offer all together. It may be a bit extreme and can seem slightly risky, but if they’re really interested, they’ll submit a new offer that is more in-line with what you are looking for. It also sends a message that you know what your property is worth!
This is also particularly useful if the property has only been on the market for a short time, of if you have an open house coming up.
Communication with your agent is also key. Let them know what you want from the sale and never be afraid to walk away if things go south. When negotiating buyer offers, make sure you take a measured and informed approach at all times!
Negotiating Buyer Offers

Mistakes To Avoid

  • Leave Emotional Responses and Questions to Yourself.

Let Your Real Estate agent deal with it!

  • You Don’t Have to Get Everything When Negotiating Buyer Offers

Pick your battles when sifting through counter-offers and negotiations. Insisting on certain things may not get you very far, depending on market conditions. The main objective is to sell your property, so if things don’t go exactly your way with a closing date, for example, it’s always best to remember the big picture.

  • Don’t Necessarily Despair on a Low-Ball Offer

While it may be a bit insulting to you to get a low-ball offer from a potential buyer, staying in communications through your agents isn’t a bad thing. While you clearly will not be accepting the low-ball offer, perhaps there is a more even counter-offer that would be attractive to both parties. Simply stay in touch, unless more attractive offers have come in. Remember, the best way to avoid low-ball offers is to price your home right.

  • Don’t Be Rude

You want to have a good feeling about a potential buyer and creating tension is not going to help things move forward in a positive manner. It can make a big difference to hear someone’s voice and get a feeling that they are a nice person!

  • Don’t Hire Just Any Real Estate Agent

Make sure you pick an agent you trust. This is a huge financial decision and if you don’t feel like you can trust what your agent is telling you or how they are handling your negotiations, you will be in for a long and painful journey. At Zipi Wiki, we can help you immediately identify the top performing agents in your neighborhood. We analyze real transaction data and expertly interview and prescreen qualified agents. Many areas have thousands of agents to choose from, and we narrow them down to the 3 best agent matches for you and your home type.

  • Don’t Refuse to Pay Closing Costs

It seems like it has become standard for buyers to ask sellers to pay for their closing costs. Buyers are often feeling cash-strapped with having to come up with a down payment, moving expenses, redecorating, buying furniture and appliances, and more. Some buyers may not even be able to afford closing costs without this contingency in a counter-offer. Closing costs can be about 3% of the purchase price.
However, while many buyers may not have the cash, they could often add a little to their loan amount. You may want to counter with a willingness to pay the closing costs, but at an increased purchase price. Buyers may not see that when they ask a seller to pay their closing costs, they’re lowering the home’s sale price. But with the addition to the purchase price, everyone wins.
You need your closing costs supported. This is necessary for the home to appraise. Otherwise, you’ll have to lower it back to the original amount later or the buyer’s lender won’t approve the sale.
At the end of the day, the home needs to show well, be in excellent condition and have something that competing properties do not. When negotiating buyer offers, you want to have the upper hand as the seller. You want to keep buyers interested and in a good seller’s market like we have right now, inventory has a hard time staying on the market, period! But with these items above in your arsenal, along with a trustworthy agent, you’ll be able to successfully negotiate buyer offers and sell your home successfully!

About Zipi Wiki

If you enjoyed this post, set yourself up with an agent that has mastered this strategy as well as so many more. At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> What Goes Into Deciding Your Home’s Listing Price? https://www.zipi.wiki/deciding-homes-listing-price/ Tue, 29 May 2018 18:42:34 +0000 http://zipi.wiki/?p=1001621 Your Home’s Listing Price
Finalizing your home’s listing price may be the most important aspect of it selling, regardless of all of the hard work you’ve done leading up to this crucial decision. It can be stressful and it can also be hard for everyone involved to agree! Luckily, there are factors that you can use to help guide you through this process. Before you know it, you’ll have a great listing price and an offer on the table in no time!
home's listing price

(Determining your home’s listing price.)

1. Look at Comparable Listings and Sales

What have similar homes in your area been listed and sold for over the last three months? Your real estate agent will create a Comparative Market Analysis (CMA), which will compile recent sales and take items into consideration which are discussed below. If you live in an urban area, you should focus on homes between 1/4 and 1/2 mile away. If you live in a rural area, focus on homes that are as close to your home as possible, while still in a comparable price range. You’ll also want to focus on homes that have similar square footage and are of a similar age. Homes that are decades old will vary from relatively new constructions. Make sure you’re comparing apples to apples!
Specifically, you’ll want to assess the following:

  • Sold Comparables

You will want to examine the original listing price compared to the final sales price to see how much the price was reduced. Once you see what has sold successfully, you can adjust your price accordingly. This can be based on things like lot size and different amenities your property may include.

  • Withdrawn and Expired Listings

Look to see why these homes didn’t end up selling. Are there common factors such as the same real estate agency? See if you can take steps to avoid having your home fall into an expired listing and learn from other people’s mistakes.

  • Pending Sales

Because these are pending, you won’t know the sales price until the transaction closes. But, try calling the listing agent and ask them to tell you! Some may, some may not. But even if you don’t find out, check out how long the listing was on the market. This may give you insight into how long it may take you to sell your house.

  • Active Listings

These are what you are ultimately up against! Buyers may have priced their homes too high or too low. Therefore, keep in mind that just because a house is listed for a certain amount, doesn’t mean it will sell for that amount! If possible, tour these homes. Do some comparisons on what your home has compared to these listings. Also, take a moment to note how these homes are staged. Does your own home feel as inviting when a potential buyer walks in? Ultimately, you’ll have to decide if a buyer would rather own your home over any of the ones that are currently active. You may have to adjust your price accordingly.
Once you’ve done this research, analyze everything based on the current market conditions. The Balance talks about comparing your home with three different prices, depending on how the market is doing. If comparable sales in your neighborhood were $250,000 and the market is currently balanced between buyers and sellers, you may look at asking around $254,500 and settle on $250,000. However, in a buyer’s market, you might price your house at $249,900, settling for $245,000. In comparison, in a seller’s market where there is little inventory for the buyers to choose from, you have the power to perhaps sell it at $265,000 or more.

  • Finely Tune Your Home’s Listing Price

Keep in mind, if you go too high above comparable pricing, your home won’t likely appraise and it may be tough for the buyer to get financing. If there are many cash buyers in the marketplace, this may not be as big of a concern. As always, you should make sure to hire an excellent real estate agent, finely tuned into your specific home type in your specific neighborhood. Finding these exceptional agents is our specialty and you can make your request here. Knowing the market is imperative to deciding on your home’s listing price.

  • A Note on Aggregation Services like Zillow, Trulia, and others…

Browsing an online aggregation service like Zillow or Trulia is perfectly fine to do. If you haven’t been in the home selling market for years, this can be a good first step to get some ballpark pricing on your home sale.

Keep in mind, the pricing you see is not the same as a CMA as described above. Only a real estate agent specialized in your type of home, in your neighborhood, can determine the accurate pricing found in a CMA. This is because some home sales are not “arms length,” which means there is more to the story than meets the eye on Zillow or Trulia.

  • Details that a Professional Real Estate Agent will Look for

For example, maybe a home was an investment sale based on rental income. The home sale may have been between family members. This sale can occur directly or through an LLC or trust selling the home to a family member. There could also be another catalyst to the sale such as financial stress, divorce, job move, or any other number of reasons a home sells quickly or slowly.

Expert real estate agents go above and beyond for their clients. These agents will look at every single detail when determining your home’s listing price. You should always make sure that the agents you get pricing opinions from are the most qualified to do so. Typically, the most qualified agents will have sold homes similar to yours. They will be active in your neighborhood. They will have successful track records in closing home sales. And finally, the agents own personal track record will glow with positive results. This typically means selling many of their listed homes at or above asking, most of the time.

You can find exactly which real estate agents are top producers in your neighborhood by making your Zipi Wiki request today.

2. Avoid Obscure and Century Pricing in Your Home’s Listing Price

It’s been proven that there is psychology into pricing just about anything, including a house! Things priced just under a “century” numbers (aka, a round number) tend to be more attractive to someone in the market. For example, think about listing your home for $299,999 instead of $300,000. It will appear more approachable to potential buyers.
Also, avoid pricing a house at a random and obscure number, such as $234,567. It is distracting to buyers and tends to give a bad impression of the property and seller.
home's listing price

3. Consider Online Searches for Determining Your Home’s Listing Price

So many buyers look online when first searching for a home. They also have a price range that they are considering, or can afford. Therefore, a buyer who is looking at homes in the $230,000 to $250,000 range probably will not see your home if it’s listed at $255,000. However, if you choose a listing price such as $249,999, it will show up within that search and may just end up being the reason you sell your house quickly!

4. Don’t Hesitate To Cut Your Homes’ Listing Price After Going Live

Let’s face it. Sometimes you may have just priced your home too high. Luckily, it’s not unusual to see price cuts and 60% of sellers change their price at least once, according to Zillow. The key is to not drag your feet and make an accurate adjustment after you have recognized that you’ve overpriced your home.
Also, avoid making minor price adjustments over time. Older listings aren’t as attractive to buyers and your goal is to sell your home quickly. When adjusting your home’s listing price, it’s always wiser to make one bigger price correction up front.
home's listing price

5. Seasonality and Inventory Affects Your Home’s Listing Price

In a majority of the United States, spring is considered the best time to sell. Weather is improving, families prefer to move in warmer months, and it’s easier to move while the kids are on summer break from school. Winter, on the other hand, can be the slowest season, due to the holidays, along with the likelihood of bad weather. Consider this when choosing your home’s listing price!
You’ll also want to consider the inventory of the real estate in your area. The more homes listed in your neighborhood, the less you can dictate the price. Alternatively, if you are one of the only homes for sale in your area, you may be able to get your asking price. Maybe even more!
home's listing price

6. Completed Upgrades To Your Home? Don’t Count On Recouping It All

So you just spent thousands of dollars updating your kitchen, or you just put on a brand new roof. Great! Some of these things are going to be just what a buyer is looking for. You needed to make these changes for your living quality and they will only help your home sale. That being said, it doesn’t mean you can increase your asking price to make your money back when you sell.
According to Realtor.com, much of it depends on the types of upgrades and renovations you’ve completed. For example, refinishing hardwood floors is a great investment, as it generally will bring you a 100% return. However, converting your basement into a living area may only recoup 69% of the costs that you put into it. Not everyone is going to have your taste when it comes to remodels. Make sure if you invest in your home before selling, you work on upgrades that will help to increase the value of your home.

7. Wiggle Room for Your Home’s Listing Price

If you have a home that may be attractive to a first-time homebuyer, consider covering closing costs. Many first-time buyers have a hard enough time coming up with all of the cash for their down payment. You can help them stay within the guidelines of getting qualified for a loan. If you offer to cover those closing costs, it may just the trick that closes the deal! This may allow you to stick to your asking price and not lower it as well. You can help them, and they can help you.
At the end of the day, picking your home’s listing price is extremely important. If you go the wrong direction, it could take you much longer to find the right buyer. If your listing sits too long, it may make your home listing seem desperate. That is when you end up selling your house for a price way below the market value.
With all of these tips fresh in your mind, you now have the resources to choose your home’s listing price! Make sure to choose an excellent real estate agent and you will be able to choose the perfect listing price for your home. Now, you are prepared to sell your home for top price as quickly as possible!

About Zipi Wiki

If you enjoyed this post, set yourself up with an agent that has mastered this strategy as well as so many more. At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> 10 Simple Home Selling Hacks To Get Top Price In Any Market https://www.zipi.wiki/home-selling-hacks/ Mon, 23 Apr 2018 20:06:12 +0000 http://zipi.wiki/?p=1001551

Home Selling Hacks

Home selling hacks can be simple, yet powerful. Use our favorites below and maximize your home selling success!
 
Who doesn’t want to sell their home for top dollar, no matter where they live or what the economy is like? It can be a tall order, but one that is definitely possible, thanks to these Home Selling Hacks! Ensure you start out on the right foot the second you list your property!
 
Home Selling Hacks

1. First Impressions Matter

Many first impressions of your home will happen online. It’s been stated that about 98% of buyers start their search online. If they don’t like what they see, they’ll quickly move on to the next home.
 
Many recommend hiring a professional photographer. They will use proper lighting and lenses to make your house appear bigger, brighter and amazing to everyone searching for a new home.
 
Once a potential buyer walks in, make that positive first impression last by getting rid of clutter. Store items that aren’t needed to help create a positive first impression. This will help increase your curb appeal when you do have potential buyers walk through your home!
 
You may need to put in a little elbow grease and spend a little money to make sure the exterior of your home looks spick and span. However, it could boost your property’s sales value, so it’s worth it! Also, double check that there aren’t any smells that may cause a potential buyer to cringe the second they walk in.
 
It will put you one step closer to selling your home for the price you want. Your home will be looking its best in no time.
 
Home Selling Hacks

2. Set The Stage

Countless studies have shown that staging your home can help to sell it quicker and for more money than if you wouldn’t stage your home. They can help you reduce the stress of making your home presentable. They also know exactly what works and what doesn’t work when it comes to placing items around your home.
 
But it can get a little pricey!
 
To help with costs, you can work on boxing up your personal possessions and photographs yourself. You want a potential buyer to picture their own life and family in your space. They don’t want to be reminded of how you currently decorate the home with your own knick-knacks!
 
To help with costs, you can also borrow items from friends and family that may work better in your home to stage it. Or buy inexpensive accent pieces to add pops of color and spruce up your space. You also will want to make sure you spend a lot of time and effort on the entry area of your home. It’s been shown that 80% of prospective buyers admit that they know if a home is right for them or not within seconds of stepping inside.
 
Make that entryway perfect!
 
Home Selling Hacks

3. Choosing The Right Agent

This is our specialty here at Zipi Wiki! You may want to do a little of your own research to begin with. Start by getting educated on what is selling in your neighborhood, how long it has been on the market, and selling price. These are the homes that are competing against yours, so it pays to be in the loop!
 
While many find their agent through a referral from a friend or family member, it may not work out to settle on the first person who comes your way. They may not be familiar with what you need and it may hurt your chances of selling your house quickly. That’s why a service like Zipi Wiki makes all the difference in the world! We’ll use data you provide us with and give you a history of agents that would be well suited for your needs.
 
Find how much experience an agent has. Are they a full-time business? Can they provide references? You want to make sure they will market your home in the best way possible. They also need to be involved in figuring out the pricing/incentives that could be used to help your home sell fast, and for top dollar!
 
It’s also important to find out what they may tweak if things don’t start off well when you list your home. Will they update your listing? Add video? Stay on top of how an open house may help your chances to gain critical feedback on what may not be working?
 
Choosing the right agent is imperative!
 
Home Selling Hacks

4. Correctly Pricing The Home

Making sure that you and your agent understand your home’s market and the types of buyers that may be most interested in your home is critical!

If you price your home too high, it will go stale with little activity. People start to really believe something must be wrong with your home. You don’t want this to happen! If you price your home too low, you leave money on the table.

Always get an expert real estate agent’s opinion (or 2 or 3) to make sure you are priced just right. There really is a magic number, and you need to find it!

Should you take on a buyer’s closing costs? Offer incentives for first time homebuyers?
 
Is your agent only interested in dropping the price when it’s not being well-received? Or are they suggesting that they create new pictures showing different angles of the property? Perhaps it’s worth updating the condition of items in the home based on feedback they have gotten, as well.
 
You and your agent should be able to feel comfortable with the price you will list your home. Don’t feel like you are taking a gamble.
 
Home Selling Hacks

5. Home Availability

Don’t make it difficult for potential buyers to come and view your home. Do your best to allow showings anytime of the day, not just around your personal comforts.
 
Why? Let’s face it. Homes that don’t get shown don’t get sold! Don’t make it hard for other agents and their clients to view your home. Otherwise, they will likely just scratch your home off of the list and go onto others that are easier to view on their own schedules.
 Home Selling Hacks

6. Marketing

Marketing comes in many different forms in this day and age. One of the hottest? Social media!  Promote your home on Facebook, Twitter and Instagram. Get your friends and family to share it on theirs, as well. You never know who may be in the market for your house and it may be seen by just the right person at just the right time!
 
You can also do a little video by walking through your home with your video camera. Take a stroll around your neighborhood, as well, sharing the best things about both. Explain why your area is a winner and soon potential buyers will be able to visualize a great life there, too!
 
Finally, you also want to make sure that your agent is using a mobile-friendly website to share your home. A majority of people start their home search on their smartphones or tablets, so make sure they will have the ability to see your home.
 
It may just be what brings in that quick sale!
 
Home Selling Hacks

7. Brighten Up Your Home

If things are looking a little dark and dreary in your house, it’s time for a change. And don’t fret, it won’t cost a fortune!
 
By simply hanging some wall mirrors to amplify the light and space in a room, along with swapping out some lightbulbs that may be a higher wattage will help to up the intensity of light in the room.
 
You’ll also want to make sure you keep your window treatments open and clean, to let in as much natural light in as possible.
 
Who wants to sit in a dark home for years to come?!
 
Home Selling Hacks

8. Promote Energy Efficient Features

Another thing that may help your home sell quickly and justify a top dollar offer? Energy-efficient options a potential buyer may find in your home!
 
Doing little things can make a difference. Items like making sure insulation in the attic is in tip-top shape, installing a programmable thermostat, and making sure doors and windows are properly insulated and weatherstripped can be a huge selling point! No buyer wants to purchase a home that will cost them more money in wasted energy from air leaks and drafts!
 
Therefore, if you have relatively low energy and utility bills, play up this fact with potential buyers! You could even do an energy audit, which is a low-cost report from a professional that will state just how energy-efficient your home is.
 
Home buyers are willing to pay a bit more for a home that can provide constantly low utility costs for them in the long-run!

9. Get The Neighborhood Involved

Live in a neighborhood that perhaps has a Facebook Group, online message board, or something similar? Send a link of your home’s listing to them and let them know they are more than welcome to come and check out your house now that it’s on the market.
 
This lets neighbors check out the home and let their own friends and family know the there is a new home for sale in a desirable area!
 
Let your neighbors know why you’re selling, info about your home, why you’d appreciate their help and who your listing agent is. Who is more familiar with your neighborhood than the people who live around you? They may just have a vested interest in making sure their new neighbors are people that they will be happy to welcome to the area!
 
Home Selling Hacks

10. Perfect Timing

Generally, March through late June is the best selling season. It’s a great time for parents to look for a new school district before summer vacation starts. It also allows the entire summer season for new homeowners to get their home in shape before winter rolls around. This is true particularly in northern states, where people generally don’t want to deal with cold weather and snow!
 
Selling your home can be one of the biggest decisions of your life. It can amplify the stress you’re feeling, as well! Make it as seamless and easy as possible, with these great Home Selling Hacks. You deserve to get top dollar for your home as fast as possible!

About Zipi Wiki

If you enjoyed this post about Home Selling Hacks, set yourself up with an agent that has mastered this strategy as well as so many more. At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> All About Home Staging https://www.zipi.wiki/home-staging-explained/ Tue, 17 Apr 2018 21:36:15 +0000 http://zipi.wiki/?p=1001245 Home Staging

If you turn on any TV show about selling your home, you’ll hear a lot about how important it is to have professional home staging done before you put your house on the market. The TV hosts will tell you that having a professional rearrange and restyle the rooms in your home is the key to selling your home in record time and for well above your asking price.

home staging

While most people don’t necessarily see the huge gains that make for compelling TV-watching, a home stager can be helpful in making your home look its very best before you put the For Sale sign out front.

But what is home staging? What does it involve? And is it worth it?

home staging

What is home staging?

“Staging is what you do after you’ve cleaned, decluttered, painted, made minor repairs; it’s all about dressing the house for sale,” says Elizabeth Weintraub for TheBalance.com. “It’s about adding the small details: the lipstick, mascara and, for simplicity, a stunning, single strand of Tahitian pearls.”

The goal of home staging is to arrange, furnish and decorate your home in a way that makes it appealing to the most buyers possible.

Staging also involves “depersonalizing a home so that prospective buyers can imagine themselves in it,” writes Tiffany Connors for How Stuff Works. “This can mean removing family photos, piles of newspapers and the cat’s litter box, as well as adding neutral-colored paint and carpet and buying new appliances.”

home staging

What do home stagers do?

Home stagers can offer an objective eye to your house to help you figure out how to best show off its highlights and potential to would-be buyers.

“Most people have trouble visualizing a space’s potential, whether that’s figuring out how to lay out an empty room or trying to ignore oddly arranged furniture, clutter or decor that’s not their style,” explains Karen Egly-Thompson on Houzz.com. “The majority of home buyers can’t easily look past what’s in front of them to appreciate a room’s potential. Staging helps eliminate the buyer’s guesswork.”

home staging

Is it worth it?

The extra work does, of course, cost extra money, and the pricier the home, the more the staging will cost. Margaret Heidenry of Realtor.com says “As a general rule of thumb, most stagers charge $300 to $600 for an initial design consultation, and $500 to $600 per month per room.”

The effort can pay off. Daniel Goldstein of MarketWatch writes, “In a 2013 study looking at nearly 170 staged properties valued at $300,000 to $499,000, (the Real Estate Staging Association) — which obviously has a vested interest in the matter — said that those homes were sold in 22 days, compared with an average on-market time of 125 days for unstaged properties.”

About Zipi Wiki

If you enjoyed this post, set yourself up with an agent that has mastered this strategy as well as so many more.  At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> Home Improvement: Renovations vs Remodels https://www.zipi.wiki/home-improvement-renovations-remodels/ Thu, 05 Apr 2018 20:34:31 +0000 http://zipi.wiki/?p=1001333 Home Improvement

Renovations vs Remodels — the terms are often used interchangeably and it’s all home improvement, so what does it matter? Right?

Not so fast. The two terms mean very different things and it’s important to use them correctly. And that’s especially true when you’re telling real estate agents and potential buyers about your home improvement projects.

Renovations

Renovations tend to be more cosmetic. If you’re renovating a kitchen, you might be swapping out appliances, replacing a faucet and changing the cabinets and floor. In a renovation, you’d leave the room’s general layout and the placement of the electric and plumbing alone.

These projects tend to be easier on your wallet. Also, they usually involve home improvement projects that don’t require permits or the use of architects or general contractors.

Remodels

A remodel is more involved and goes deeper. Remodeling the kitchen might involve tearing down walls to make the kitchen open to the family room. You might move the electrical and the plumbing. You might reposition windows and doors.

Since remodeling projects are more involved, they’re also usually more expensive. Also, it often necessitates obtaining permits, contractors and skilled tradespeople. YouTube might teach you how to replace your bathroom faucet, but you want someone who really knows what they’re doing to re-do your bathroom’s electrical work.

What to do

When you look at selling your home, you’ll have a list of things to do that feels a million miles long. You probably won’t have the time or money to change everything you want, so it’s important to prioritize. What can you renovate? What should you remodel? Which home improvement projects will get you the most money?

The answers vary by your home’s price point, your market area and the scope of your project. To offer some guidance, Remodeling magazine puts together a yearly guide that examines 21 projects and their return on investment in 100 markets across the country. You can find that here: http://www.remodeling.hw.net/cost-vs-value/2018/.

We can help!

Additionally, a good real estate agent can help you answer all the questions you have, especially in regards to your particular housing market. At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> Tips to Make Your Winter Open House a Success https://www.zipi.wiki/winter-open-house-tips/ Fri, 05 Jan 2018 23:37:09 +0000 http://zipi.wiki/?p=1001142 Your Winter Open House

If you’re selling your home, a winter open house may seem daunting. It’s cold and dark, and your yard isn’t looking anywhere near its summer best. But people still buy homes regardless of the temperature outside, and open houses are still a good way to get prospective buyers into your house. We have some tips to make your winter open house a success.

Open House

1. Shovel and de-ice.

You want all sidewalks, driveways and walkways to be clear of snow and ice, so take the time to groom them. Shovel and scrape and pile any snow off to the side as neatly as possible. Not only do you want people to be able to easily navigate your outdoor areas, but you also want them to realize that you take care of your home.

2. Turn on the lights.

The days are short and what little sunlight we have is dim. No matter how many windows your home has, chances are it’s a little dark during winter. You don’t want prospective buyers to feel like they’re touring a cave. Turn on all the lights and open all the curtains and shades. You want your home to be an oasis of brightness during the dark season.

Open House

3. Turn up the heat.

Your winter open house is not the time to practice saving energy. You want attendees to be warm and comfortable. If you keep your house on the cool side, bump up the thermostat a bit so your home feels cozy. Not too much, though — you don’t want anyone to feel like they’re in a sauna.

4. Provide extras.

Have lots of door mats available for people to wipe their feet. You can ask people to take off their shoes. You also can have a basket of shoe covers (like these) by the door so anyone who wears shoes won’t track mud and slush on your clean carpets. Have some coat racks available for people who want to take off their jackets. You also can warm up the atmosphere by having hot coffee, hot chocolate or simmering apple cider available. It will make your house smell warm and inviting and is a nice gesture for anyone who braved an icy day to look at your home.

Open House

5. Be prepared.

Winter weather can be unpredictable. Keep an eye on the weather and be prepared to cancel and reschedule an open house at the last minute. It might be a bit of an inconvenience, but it’s better than trying to have people see your home in dangerous driving conditions.

About Zipi Wiki

If you enjoyed this tip, set yourself up with an agent that has mastered this strategy as well as so many more.  At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> Tips for selling a house when you have pets https://www.zipi.wiki/selling-house-when-you-have-pets/ Tue, 28 Nov 2017 00:23:15 +0000 http://zipi.wiki/?p=982 We all love our pets, but potential home buyers? Maybe not so much. When you get your house ready to go on the market, you cannot forget about the evidence that animals live there, too. Stains on the carpet, scratches on the woodwork, odors in the basement — you will need to address all of these issues. What do you do and where do you begin?

Pets

1. Clean your house.

Of course you’ll suck up the dust bunnies from under the couch. You will scrub the basement so it’s clean of cat litter dust. Also, you will clean up any pet messes immediately as you’re readying your house for sale. And you’ll certainly be sure to sweep the fur from the floors before a showing. Sometimes though, the evidence of our pets is much deeper.

If you have stubborn stains on the carpet and if your furniture has an extra layer of fur, you probably want to hire professional cleaners. They have the appropriate equipment and experience for tackling tough stains and odors. You might also want to consider replacing your carpet if the stains and smells are particularly persistent.

Wash the floor and walls of your basement. If the pet smells persist, consider repainting the walls and floor with an odor-blocking paint.

2. Repair your lawn.

If you have a dog, it probably shows on your lawn. You’ll want to make a thorough sweep of the yard and pick up any messes before you put your house on the market. Afterward, you’ll want to walk through your yard several times a day to stay on top of keeping it clean.

Has your dog peppered your lawn with holes? You will need to fill them in and top the bare patches with grass seed or fresh sod. Are yellow or brown spots an issue? Aerate the grass and plant new grass seed. You might want to cut out the dead spots and put down new sod if you don’t have enough time to grow new grass.

When your dog needs to go out after you’ve fixed the yard, leash him up and take him to a discreet corner of the lawn or take a walk.

Pets

3. Hide the evidence.

When you’re preparing your house for sale, make sure you fill in and paint or stain any scratches or chew marks on the woodwork. If you have damaged carpet and you’re not replacing it, you should try to patch any worn spots.

Then, when you have showings, remove your pets from the house. Take bags of food with you and put away the bowls. Hide pet toys and other paraphernalia. If you don’t want to take your cat boxes with you, tuck them away in a discreet place in the basement or cover them up with large boxes. Make sure to clean up any loose shavings from guinea pig or hamster cages

4. Relocate your pets.

If you have the option of doing so, it might be best for your pet to live with a family member or friend while you are selling your house — hard as that may be. You will be less stressed because you won’t need to be constantly vigilant about cleaning up after your pet. Your pet will be less stressed because it won’t be put in the car to go for a drive at strange times of day. Everyone will be less stressed because their routines won’t constantly be disrupted.

5. Talk to your veterinarian.

If you have any concerns about your pet and how it might react to the changes in its routine, be sure to discuss them with your vet.

6. Tell potential buyers that you have pets.

Even if you do your best to clean the house and remove all signs of pets, the people who look at your house should still be told that you have pets. Potential buyers may have allergies, or they may be able to smell things that you can’t. Being open and up front about your situation will only help you in the long run.

Pets

About Zipi Wiki

Moving is no small task and to help you, we want to offer you a free checklist.  Request your home seller’s checklist below. Use this list to cover all your bases as you prepare your home for success. If you enjoyed this tip, set yourself up with an agent that has mastered this strategy as well as so many more.  At Zipi Wiki, we do one very important thing. We match you up with the best agent for you. There is no other service that can find more qualified real estate agents for selling your home than Zipi Wiki. We wish you the very best with your home sale, and hope your next abode is your best one yet!

]]> 5 Biggest Home Buying Fears this Fall (and How to Face Them) https://www.zipi.wiki/5-home-buying-fears/ Thu, 19 Oct 2017 20:54:38 +0000 http://zipi.wiki/?p=904 These 5  Home Buying Fears can be Readily Overcome this Halloween Season.

Home Buying Fears in Madison WI

These home buying fears sometimes hold house purchasers back from buying a new home — not just around Halloween, but sometimes all year long. The frightening thing is, these feelings of unease are sometimes justified.

Here are some of the issues that commonly keep home buyers up at night, staring at the ceiling. Importantly, here is what you can do about them.

Home Buying Fears in Madison WI - Haunted House

1. “The house has a leaky basement, holes in the siding, or leaks in the roof”

It is common for a home buyer to be thinking about remodeling or repairing the new home that is purchased. Once an ideal home is found, a home buyer often starts to wonder what might be wrong with it.  Are there hidden issues to be aware of?  Needed repairs that are unforeseen? What if the house has a leaky basement, holes in the siding, or leaks in the roof? Inspections should help you discover these items and you can deal with them before closing.

Most homes will need routine maintenance, and a good inspector will point this out. But it’s important not to let your fears get the best of you. Much of what the inspector comes up with during the inspection is for informational purposes only. There may be some items that are critical to address, while others can wait or be handled in the future when a replacement is warranted.

The inspector’s job is to point out every potential issue he sees in the house. Some items need immediate repair or replacement, while others can wait. Ask him to explain how bad the issue is, and how long it can go before needing replacement or repair.

If an issue arises that needs immediate attention, this is a great time to renegotiate your offer price. You will have real information to go back to the seller and see if they will repair or credit you for the costs of fixing the identified items.

Home Buying Fears in Madison WI - Earnest Money

2. “I’ll lose my earnest money”

Buyers typically put in a deposit with a signed contract. Often, this is 2 percent of the purchase price. This money often goes to the listing broker’s trust account or the title company chosen for closing’s trust account. Ultimately, the money sits in an escrow account and can’t be released without both parties’ signatures.

It is very difficult for a buyer to lose their deposit. If you have an inspection, disclosure review, loan contingencies, or any other number of contingencies, you will likely have an opportunity to walk away from the home purchase and receive your earnest money back. For such a significant purchase, you should of course work closely with an excellent real estate agent to mark those timeframes.

If you need to remove these contingencies in writing, make sure you do so before the stated deadlines. If you are working through a contingency, be sure to extend the contingency date to keep yourself under contract. Try to work through these items as soon as possible so that deadlines do not arrive too soon.

Home Buying Fears in Madison - Dream Home

3. “I’ll lose the home of my dreams”

The third concern in our home buyer fears list can be very emotional. No one wants to lose their dream home opportunity. If you find the perfect house, you may have to move quickly. In really hot markets, many homes receive accepted offers before the first open house.  In these situations speed and efficiency are paramount to your success.

This is another reason to find and work with an exceptional agent so that you get to see the deals first.  In hot markets, you need to see opportunities before they hit the public websites like Zillow, and fast acting agents can do so by setting up alerts in the MLS systems.

Try to make an appointment to see the home as soon as possible, but also be prepared to make an offer before seeing the home.  Remember, with your contingencies, you will still likely be able to walk away with your earnest money. A skilled agent can craft contingencies that put you in control, while still making the offer appealing to the seller.

A good listing agent will set accurate expectations with the home seller.

Have your agent find out how the seller’s agent plans to handle any offers received. Oftentimes, the seller and the agent will have an offer date to review offers or ask for best and final offers by a certain day.

But remember, if the listing agent has set solid expectations, and an offer comes in that meets those expectations, the listing agent will often coach the seller to take the offer immediately.  You should make a winning offer.  A solid buyer’s agent will have a great understanding of what the home should sell for too and will be able to coach you on making the best offer.

If you travel a lot or are away from your desk, you may still need to make quick decisions. Be sure not to miss out on your perfect home by authorizing your agent to work quickly on your behalf. Be ready to communicate constantly with your agent.

Home Buying Fears in Madison - I won't look out for you

4. “My agent won’t look out for me”

This is a valid fear.  There are real estate agents that look out for their own best interests and not yours. It is a very sad reality in real estate. We have found it to be one of the top reasons that home sellers and home buyers are cautious about working with real estate agents.

In some cases, an agent will put their own interests first because they are just trying to make the money to pay their bills and take care of their families.  An easily justifiable reason in their minds. In worse cases, some agents are simply greedy and lack a moral compass.

In fact, Zipi Wiki was founded to remedy this one fear that home buyers and sellers face.  We are just like you. We want honest, hardworking, professional, likable agents to help us buy and sell our homes too.

How to find the best agent for you

Our solution to this age old dilemma is straightforward. To find and hire the best real estate agent, you should do the following:

  1. Find real estate agents that are selling more homes, just like yours, in your neighborhood.
  2. Qualify them based on actual customer reviews and recommendations.
  3. Interview at least 3 of them so that you can find a great fit for you.

If you browse services like Zillow.com you will notice they have agent finder services too.  The agents you see recommended are paying to be recommended to you.  These are not neutral, unbiased recommendations like Zipi.Wiki recommended Realtors. Even highly rated agents on places like Zillow may not be the best agent for you. They may specialize in high end condos, or first time buyer neighborhoods, or luxury homes only, etc. It is essential to work with an agent that knows your home type. This holds true for both Buyer’s Agents and Listing Agents.

Home Buying Fears in Madison - Clock Ticking

 5. “We won’t find our house in time for…”

School… a job relocation…the sale date of our current home…

There are many reasons we move. Some foreseen and others for unexpected reasons.

To address the last of the home buying fears, sketch out your game plan with your real estate agent. Coordinate the timing of these transactions as best as possible.  It is all the more reason to work with qualified agents.  A Buyer’s Agent Specialist will help you find and negotiate a great purchase opportunity. There can be several competing offers when the market is hot.  On the flip side, if you are selling your home, an expert listing agent will also set up accurate expectations for your home sale price as well as the likely time horizon for closing on the sale.

In conclusion, you can eliminate these fears during this Halloween Season through proper preparation and planning. In addition to proper planning, you can blast your fears away and have an amazing experience by hiring the right realtor.

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