Series: 20 Best-Kept Real Estate Secrets - Part III

Welcome back to the last session we have for Sellers this summer.  No matter what the economy is doing, these tips are useful in any market.

6.  Don't Over-Upgrade
Before you start knocking down walls in a "what-started-as-a-do-it-yourself-just-turned-into-my-nightmare" sort of way, double think it.  Big Mistake.  When it comes to a home, minor improvements are more important in the end than the major ones.  Simple fixes are re-painting walls and getting inexpensive new curtains.  Always ask yourself, "What things ar getting the most use in this home?"  Handles, closet tracks, leaky faucets...fix those first.  When buyers see little problems like those, it makes them think more is wrong.  Besides, you can spend $40,000 on a new kitchen that won't fit that perfect buyer's lifestyle, anyway - so just make sure there is no water on the floor.  Leave the dreaming to them.

7.  Take the "Home" Out of Your House
As much as everybody rants and raves about your bubbly personality, take it out of your home.  The more personalized your home is, the less buyers can see themselves in it.  Your pride in your home could cost you in the long run.  Get rid of about 1/3 or your things, showcase your floor plan and maximize space.  Also, consider using a home stager to set it up in the best possible light - it could be the difference between something they "may" like and something they "have to live in."

8.  Kitchen First
Remodeling your kitchen will, on average, get you about an 85% return on your investment.  Even minor fixes can make a so-so kitchen shine - paint the walls and change the hardware on the cabinets.  If you can't afford to replace all of the appliances, try to put in at least one stainless steel appliance.  That way, you'll have buyers saying, "At least we won't have to buy a "fill-in-the-blank" instead of "We'd have to re-do the entire kitchen."  Lastly, save the bright blue and yellow kitchens for the Greek Isles - keep yours neutral.  As nice as it may look to the eye, the buyer's mind is figuring out exactly how much it will cost to fix it.

9.  Always Be Ready To Show
Here is a reality that not many Realtors will tell you as a seller:  You are now on buyer schedules.  Unfortunately in this day and age, that might mean you will have a showing at 7:00 or 8:00 in the evening.  That also means you could have a showing at 7:00 or 8:00 in the morning, which means the home needs to be in tip-top shape at all times.  On average for today's market, it typically takes between 8-9 showings for every bid you get.  So DVR that "CSI: Miami" and get out of that home!  Buyers can't see their new lives in your home with you on the couch.

10.  First Impressions are the Only Impression
Though your new soaker tub/whirlpool in the master bath is a great new feature, buyers are judging the exterior of your home before they even walk through the door.  The average buyer takes a measly 8 seconds to decide on buying your home...so you know what that means?  Your entranceway could be one of the most important "humps" to push them over.  Fix it up, clear the clutter, and make it inviting.  After all, no buyer will remember your fancy new tub if they have to step over muddy shoes, backpacks, and coats.

That's it for the Selling Side!  I hope everybody learned a little (if not a lot)...and keep on improving!