Serving the CA Bay Area & Surrounding Cities
Home Sellers' Guide
Home Pricing Criteria
When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area.
Here are five criteria you and your Agent should consider in a home sales comparison:
1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.
2. Date of sale: While it varies by location, housing markets can see a ton of fluctuation in a short time period. It‘s best to use sales data from the past 3-6 months.
3. Home build: Look for homes with similar architectural styles, year built, numbers of bathrooms and bedrooms, square footage, and other basics.
4. Features and upgrades: Remodeled bathrooms and kitchens can significantly increase a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.
5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not useful comparisons for pricing your home.
Selling An Occupied Home
Vacant homes typically sell much faster than those still occupied by the owners/tenants and their furniture and belongings. Yet, many sellers aren't able to move out before their home sells.
If you’re still living in your home while trying to sell it, here are a few simple ideas that can help speed up the home sale process.
1. De-clutter: Buyers want to imagine the possibilities of their new home. That’s a lot easier to do when a space is airy and clutter-free. Get rid of clutter that’s taking up space in your home, and transform how a buyer sees the property.
2. Offer an incentive: Don’t over compensate with incentives that don't make financial sense, but there are some reasonable expenses you can use to entice buyers, such as offering a home warranty, or a seller's credit for repairs or upgrades.
3. Focus on flow: Re-arrange the furniture in your home so that prospective buyers can easily move through the space. Create a natural flow from one room to the next.
4. Take care of your to-do list: There’s probably a list of small repairs that you’ve been putting off for a while, like fixing a dripping faucet or touching up paint on some walls. Make those repairs so that the home is more move-in ready for buyers.
5. Commit to cleanliness: Just like removing clutter, keeping your place clean can go a long way toward appealing to buyers. It’s especially true in the kitchen—no dishes in the sink or coffee rings on the countertops!
Home Buyer Incentives
When you’re selling your home, adding some extra perks can help you find a buyer quickly. An incentive is essentially a marketing spend for your home sale. But you want to make sure your marketing dollars are being used effectively.
Consider these home buyer incentive
DO’s and DON’Ts:
DO recognize your home’s flaws, and offer an incentive that compensates. Buyers will look at extremely dated decor or appliances as a big, looming expense, so you can alleviate their anxiety with a warranty or repair/renovation allowance in the form of a seller's credit.
DON’T use an incentive to try to get buyers to bite on an inflated sale price. If your home isn’t priced properly, it’s unlikely that an incentive—even one with significantly monetary value—will hide that fact. You’re better off revaluating your pricing, rather than spending big on an incentive.
DO consider homebuyer incentives when there’s close competition. If there are other listed homes in the area with similar features and pricing, an incentive such as offering furniture, appliances and/or window coverings can be a winning factor.
DON’T forget to check on the legality of your incentive offers. The laws on incentives can vary greatly between states, so work with a knowledgeable, trustworthy real estate professional to ensure that your homebuyer incentives are above board.
Improve Your Curb Appeal
Curb appeal is a big factor for home buyers. The exterior of your home is the first thing buyers will see when they come to a showing or open house, and you want to make a great first impression.
Try some of these curb appeal ideas:
Fix Landscaping Eyesores
A brown, dead lawn—or an overgrown one—isn’t the best way to welcome buyers to your home. An appealing lawn can be worth more than $1,500 in the final price of your home.
Shutters & Siding
It’s easy to let your exterior walls fall into disrepair, or let them get a little dirty. A good scrubbing or power washing can make your siding look brand new, and you can touch up any major issues with some paint. And don't forget about the shutters.
Add Living Accents
Planting flowers will add color to an otherwise ordinary outdoor space. Potted plants will do the trick too, especially if you have a deck or patio that needs a little decorating.
Work on Your Walkway
The path to your front door should be inviting. A stone walkway from the driveway instantly upgrades your curb appeal. Also, tidy up the lawn by removing weeds and debris, then line the walkway with subtle lighting. It’ll make your home look cozy and appealing, day or night.
