If you have been following my recent posts, I’ve been expanding on how Irvine, Orange County home sellers can list their home and sell it and accomplish their goals, whether it is a buyer’s market or a seller’s market.  Most Irvine home sellers fear this process due to many reasons, and I’m here to tell you that it can be as painless as possible (and even fun and exciting) and you CAN achieve your real estate goals just by following these 6 simple steps.  If done correctly, you can even skip step 6!  How great is that?

Step 1 – Determine fair market value or FMV by understanding the Inventory.

1. Research recently sold comparable homes in and around your area – Learn what homes have been selling for, how long they were on the market, the type of sale offered, list price vs. sold price, and more.  Learn what buyers are actually willing to pay for a home.
2. Research currently active homes for sale in and around your area – Learn the competition, how long they have been for sale, the type of sale, and upgrades/condition of the home.  Understand that there are other homes in direct completion with your home that do have upgrades as well.  Keep in mind that your upgrades may not be to the liking of prospective home buyers.
3. Research recently expired, cancelled, and withdrawn homes in and around your area – Learn which homes didn’t sell and what price points buyers were not willing to pay for a home.

Based on the information from all comparable homes in your area determine a price with 2 intentions; first, set a price that will net you the most amount of money and one that will allow you to accomplish your goals, and second, set a price that will make buyers “want” or even “compel” them to submit an offer on your home!

Step 2 – Understand the buyer’s mentality.

1. Overpricing a home will disqualify many buyers looking.  If your home is realistically worth $575,000 and you list your home at $600,000 (but are willing to sell at $575,000), those buyers will not view your home because it may not pop up on their search depending on their search criteria or they will feel that it is out of their price range. 
2. Keep in mind that the key is for buyers to see that your home is available for sale.  Pricing your home a bit lower will ensure that the buyers will see it.  Most buyers will have the ability to move up in price if the home is perfect for them, however they can’t make that decision if they don’t know it is available.

Step 3 – Prepare your home to sell.

1. Go through your home and remove any unnecessary items and de-clutter the home to allow buyers who view your home to actually imagine themselves living in the home!  Create a neutral environment with freshly painted walls, etc.  Go through the home and touch up any problem areas, re-caulk bathroom seals, and make it look fresh! 
2. Keep your home clean and ready to show at all times
3. Make your home look good and set a good first impression.  If you were a buyer would you buy your own home?

Step 4 – Make it easy for prospective buyers and their agents to view your home

1. Install a lock box to allow for showings when you are not home.
2. If you are home, understand that many buyers have a work schedule to work around and you may have to accommodate those buyers in the evening hours between 5 pm -9 pm.  Yes, even 9 pm sometimes.
3. Create mini family vacations over the weekend just to get out of your home so that it is free and clear for buyers to view the home anytime.  It will also be a great opportunity to allow for your realtor to do open houses.
4. If you can AVOID an appointment only scenario as this may turn off many buyers/agents who plan to view your home!

Step 5 – Have a strong internet presence

1. Take as many high quality photos that you can of each room in the home.  Highlight features of the home that compelled you to buy the home in the first place!  You know your home best, so show it like you mean it!  The MLS is capable of storing up to 30 pictures of your home.  If you run out of pictures of your home, take pictures of the neighborhood, parks, HOA amenities, and anything else you can think of that would be beneficial to a buyer looking in that area but not that familiar with the surroundings.
2. Create a visual tour to allow buyers the feel that they are in the home even before they view it in person.
3. Market your home on craigslist, realtor.com, trulia.com, Google, etc.  Keep in mind that 87% (and maybe even more) buyers begin their search on the internet.  Its time you cater to this and give them what they want!

Step 6 – Never overlook an offer and always be willing to negotiate if necessary (optional)

1. Always have a backup plan – Just in case the first 5 steps do not produce the results you seek, being open to negotiating will help you close the deal!  Remember, if you properly complete steps 1-5, step 6 will probably not even be an issue. 
2.  The first 7 days that your home is on the market is the “hottest” time for your home and you will get the most showings.  The first offer (if you only get one) is usually the best one, so don’t overlook it!

As a home seller it is important to understand that you are only half of the process.  The buyer is the other half!  Without a strong buyer that wants to buy your home, you will not be able to complete the sale of your home and move on.  There is no secret here.  Simply put yourself in the buyer’s shoes and understand the market you are selling in.  There is no emotional or physical attachment to your home from a buyer’s perspective, therefore, by understanding their needs and/or wants will allow you to get what you want!

If you are considering selling your home and would like to learn about the process and what you can sell your home for, call or email me Today for a free private consultation with no obligation.  If you are not ready to meet with me, you can even go to http://www.IrvinePropertyValues.com and sign up for an over the net analysis!

6 Steps To A Speedy Sale On Your Irvine Orange County Home! is a post from:

With the Irvine real estate market continually making adjustments, Realtors ®, builders, banks and home sellers are looking for solutions to sell their homes faster.  One of the obvious challenges we face as an industry is a lack of experience selling in a “buyers” market.

1. Know why you are selling – If your “bottom-line price” isn’t a reality for today’s market… you should “hold the property” based on a lack of realistic expectations and/or a lack of motivation…Studies have shown it can cost up to $5,000 in hard cost to list a home that doesn’t sell – without factoring in your time and the emotional up’s and downs of trying to sell a home that won’t sell.

“What you NEED in the sale of your home” isn’t relevant to what the buyers are willing to pay…” We are clearly in a buyers market… today we must price based on their needs”

2. Pricing – When pricing the property focus on “Pending Sales”…This is what buyers are willing to pay today! Based on what you’re reading in the papers…do you believe buyers will offer more…or less than the last pended sale?  Ask yourself the question…. Do I want to lead the market…or chase it down?

If there are no comp’s…That’s the comp! No one’s been willing to play at this price point…therefore you must price it in a way where the market will talk back to you.  Would you rather turn away 10 low ball offers… then never receive one?

Don’t fall into the trap…thinking just because you have the lowest priced home for sale that it will sell quickly…you are just comparing yourself to the others that have failed to sell.  In a Real Estate market where values may still be dropping…sellers who are willing to price their home correctly in the beginning “win”…vs. the seller who waits for their price while others reduce…then sell… and take your profits with them.

Value is a moment in time…today it may be perfect…tomorrow a builder could slash their prices and your price goes down instantly.

3. Know your market place – Know exactly how many homes are on the market and exactly how many are selling per month.   If no other homes are added to the market in your area, how many months of supply is there for buyers to make choices on?  How many properties are coming on the market every month…not to mention the number of foreclosures, short sales and bank owned properties.

4. Offer incentives! – You are competing against new Irvine builders who are offering flat screen TVs, free HOA for a year, buying down rates and so much more.  You must increase incentives or reduce the price even more to be competitive.

Offer incentives to the buyers….Pay the HOA fees for a year, offer to buy down their interest rate, offer to pay non-recurring closing costs, include appliances….pick a few or all of them to attract the highest number of buyers.

Offer incentives to the agents!  There are buyers out there… and they’re working with agents. Cause your listing to stand out by increasing the commission by 1 to 2% (yes 3.5 to 4.5% on the selling agents’ side) more to the selling agent!  According to the National Association of Realtors, over 40% of buyers are accompanied by an agent…..so go fishing and reel them in!

5. Set the stage – Stage the home! Especially if it is vacant!  Now more than ever, the buyer has options. Remember, you only have “one” first impression…make the buyer say “wow!”  Make sure that the home has great curb appeal and that it is welcoming.

With so many homes on the market, there is a healthy amount of competition.  Walk through the home and do patch ups, paint touch ups, tighten cabinet handles, door knobs, etc.  The kitchen and master bath are the two most important rooms!  Take a look around and ask yourself if a buyer would remember or forget these rooms.

6. Maximize your Internet Marketing! – Over 40% of buyers come from the internet!  Make sure they are going to see your home.   Start with GREAT photography.  Add as many photos as possible to your marketing.  Homes advertised with 6+ photos get 299% more exposure vs. listings with a single photo.

86% of Irvine home buyers start their home search on the internet, 61% of buyers will walk through a home first viewed online, 74% of buyers will drive by a home found online, and finally buyers are 24 times more likely to buy a home found online vs. a home book or magazine.  Price everything in accordance with how the buyers select prices on-line. Use round numbers in increments of $50,000.

Use Craigslist.com to advertise your home as a “great deal”.  The key is advertising multiple times a day, multiple postings.

7. Get the word out in your neighborhood – Knock on doors around the property (I know it’s old school…but it gets you out in front of people…only good things come from that!)

Do “odd time” open houses, Thursday from 5:30 to 7:30 and do Big Open houses!  Invite the world!  Personally invite the neighbors and ask them “Who do you know that would like to move into our neighborhood”.  Most neighbors would jump at the opportunity to choose their new neighbors.  It’s just that no one ever asks.

8.  Target your Marketing – If your home is perfect for a first time home buyer, maybe you want to market to apartment buildings to those who rent!  Advertise headlines like… “Tired of throwing your rent money down the drain?”  “Payments as low as (xxx)” or “100% financing still available, call today for details!”

Speak with a lender and obtain several pricing scenarios.  Use these scenarios on your marketing and give the prospective buyers the information they need to be able to make the decision. Be creative!

9. Create a Virtual Tour – Don’t limit your self to local buyers.  Remember that buyers can come from anywhere.  Create a virtual tour to allow online buyers from different areas the opportunity to feel what it feels like to be in your home.  Emphasize the key factors in your home….the points that would make a prospective buyer want more.  Decide on what makes your home valuable, and why someone would buy it, and focus on presenting these to all interested on-lookers.

10.  Follow-up promptly and Sell your home – Return calls promptly! If a prospective buyer calls… call them back quickly!  The same thing applies if an agent brings a buyer!  Make sure to grab one of their cards.  You want to call them and get feedback.  How did their clients like the home?  Ask the agent how they felt about the price?

Step out of your comfort zone and ask the agent….”What can I do to help you write up an offer”.  You have a beautiful home….Now Sell it!

For an over the net current market value of your Irvine home, simply go to Irvine Property Values, or contact the Mack Team today!

10 Proven Strategies to Sell Your Irvine Home Now! is a post from: