Developing Your Marketing
Plan
GETTING
THE HOME READY
A potential buyer
should have a good impression of your home. Chipped exterior paint,
loose gutters, overgrown shrubs and lawn, marred interior walls,
cluttered closets and counters, stained or dirty carpets are simply
unacceptable to home buyers. These are all examples of problems
that are easily resolved with very little expense. The objective
should be to get your home in good condition with minimal expense.
Make the decision of what must be replaced or repaired and get
it done. Painting some or the entire interior is usually necessary
and should always be done. Fresh paint is clean and clean is mandatory.
Clutter must be eliminated because clutter, whether it’s in the
closet, on the counters or on the walls, closes-in space and will
make any space look smaller. In some situations, if can be advisable
to even remove some furniture. If you’re selling your home because
you need more space, then chances are you have more furniture
than the home can really accommodate and probably, more clutter.
The feeling someone should have when they enter your home is that
it’s well maintained, spacious and clean.
Getting your home ready
to market does not mean renovating. In fact, it’s probably the worst
thing you can do because you most likely will not recoup the expense
of renovation. The most recent national figures provided below indicate
the cost vs. resale value for various home remodeling projects.
If you decide that remodeling
a certain area of the home is absolutely necessary to achieve a
sale then make sure that the job conforms to the home and the neighborhood,
in other words, don’t over-remodel. Homes that overachieve in their
neighborhoods often underperform on the resale market.
MARKETING THE HOME
You’ve got a house to sell
and it’s time to let the world know it. First determine your budget.
Recognize that you may well spend $500 to $1,000 advertising your
home, but that’s a pittance to what you would pay in real estate
commissions. Next, target your market. Answer the question "where
do people find homes for sale in my price range"? Don’t waste time,
effort and money advertising in local shopping paper when you’re
trying to sell a $400,000 home, that’s not where your buyer is looking.
SIGNS
First and foremost, have a
professional, easy-to-read yard sign. The sign should clearly say
that the home is for sale by owner and should have the owners phone
number in large bold print. Do not go to your local hardware or
discount store for signs. Presenting your home in an attractive
professional way is essential and the typical red and black "house
for sale" sign found in stores is not the answer. The sign should
also say that the home is shown "by appointment only". There are
many reasons for this. You should always be prepared for a showing
and setting appointments is the only way to be properly prepared.
Some buyers find a home simply by riding around in the neighborhood
where they would like to live. Many homes are sold as a result of
signage alone and its value should not be underestimated.
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