Selling your home is one of the most important steps in your life.

This guide was written with one goal in mind: to give you the tools you need to maximize your profits, maintain control and reduce the stress that comes with the Home-selling process.

So with that in mind, here are 29 essential tips you must know...

Tip No.1.  Know why you’re selling.

The reason you look closely at why you want to sell is that your motivations play
an important role in the process. They affect everything from setting a price to getting your home ready for selling.

For example, what’s more important to you: the money you walk away with, or the length of time your property is on the market? If your goal is a quick sale, that can dictate one kind of approach. If you want to maximize your profit, the sales process will almost certainly take longer.

Tip No.2 Once you know why, keep it to yourself.

Your reasons will affect how you negotiate the sale of your home, but they shouldn’t be given as ammunition to the person who wants to buy it.

For example, a prospective buyer who knows you must move quickly has you at their mercy in the negotiation process. When asked, simply say that your housing needs have changed. Your reasons are nobody’s business but your own.

Tip No.3 Do your homework before setting a price.

Settling on an asking price shouldn’t be done lightly. Once you've set your price, you’ve told buyers the absolute maximum they have to pay for your home. The trick for the seller is to get a selling price as close to the asking price as possible. But if you start out by pricing too high, you might not be taken seriously by prospective buyers or by their agents. Yet a price too low can result in selling for much less than you should.

Even so, setting your home’s sale price can still be a fairly simple process. Your Realtor should be able to show you market statistics that will help you get an idea of a good price range based on your market, your competitions past sales and the current listings.

For those living in subdivisions comprised of homes with similar or identical floor plans, the task simply involves looking at recent sales in the neighborhood to get a good ballpark figure.

Others live in one-of-a-kind-houses, sometimes more recently built, and occasionally in older neighborhoods that have changed quite a bit over the years. Every home in your neighborhood may be different in minor or substantial ways—the house next door may have added another bedroom, for example, or the one across the street might have been built recently to fill a vacant lot. As a neighborhood evolves over the years, you may find that there aren’t any homes around that are truly comparable to your own.

(A good realtor is attuned to the nuances in the market that may not be apparent from comparable sales and listings.)

You can usually learn what homes have sold for in your neighborhood by making a quick trip to the Asheville City Hall, or by simply logging on to http://www.courthouseretrieval.net/promo to begin figuring out a range for your home’s worth.

There’s a lot to take into consideration when comparing your home to another for pricing, however, that cannot be seen online. If this sounds like a lot of work to you, then you may decide to hire a Realtor. Your Realtor will do all the market research and provide you with comparables showing how your home should be priced to best meet your goals—a fast sell maximum profit, etc.

Tip No. 4. Go home shopping yourself.

The best way to get to know your competition, identify features that are popular and learn what turns buyers off is to check out other open houses. Plan to spend a few weekends touring other Asheville area homes on the market  to learn what other sellers are asking. Be sure to make note of the floor plan, condition, appearance, size of lot, location and other features.

If you visit enough homes and pay close attention to the details (and what other “buyers” are saying), you’ll develop a good understanding of how different features affect pricing. And then you can apply what you’ve learned to the task of setting your price. But don’t forget to include in the equation what homes are actually selling for, not just simply what people are asking. And remember, if you’re serious about getting your home sold quickly, don’t be more expensive than your neighbor.

Tip No. 5 Know when to get an appraisal.

Sometimes you can use a good appraisal to your benefit in marketing your home.
And if you get an appraisal, you can use it to let prospective buyers know that your home can be financed. However, an appraisal costs money. It also has a limited life. And keep in mind that you may not like the figure you hear.

Tip No. 6 Your tax assessment means almost nothing.

Some people look to tax assessments to assign a value. The problem here is that assessments are based on a number of criteria unrelated to property values, so they often don’t necessarily reflect the true value of your home. Have you ever heard of two identical homes in the same neighborhood with dramatically different assessed values because one was purchased more recently than the other? Well, it happens quite often.

Tip No. 7 Find a good Realtor

Nearly two-thirds of the people who sell their own home without the guidance of a Realtor say they wouldn’t do it again according to research by the National Association of Realtors.
Sellers surveyed point to difficulties in setting a price, marketing handicaps and liability concerns among the primary reasons they would turn to a Realtor next time. And selling a home yourself usually eats up more time and effort than you might initially expect.

If you decide to work with a Realtor, contact two or three and explain to each that you’re thinking about putting your home on the market. Then, set up times to meet to talk about pricing and marketing. By having this group “evaluation” done, you should end up with a fairly tight price range to help guide your decision. Any Realtor who is substantially higher or lower than the group should be able to justify their estimate. Just as you should be concerned with too low a price, beware of the agent who gives you the highest price—they may be trying to “buy” your listing.

A good Realtor knows the market. They’ll supply you with information on past sales within your comparable market as well as provide current listings. They should also bring a marketing plan. Take the time to carefully evaluate candidates on the basis of their experience, qualifications, enthusiasm, and personality. Most importantly, make sure that you choose someone who is going to put in a lot of hard work on your behalf!

Tip No. 8 Give yourself room to negotiate

Make sure you leave yourself enough room to negotiate when you get an offer on your home. If your asking price is unacceptable to the buyer and their first offer is unacceptable to you, then its wise to make sure you leave yourself some malleability you can use when approaching the bargaining table.

To do this, write down the absolute minimum price you would accept, and then write down the price you’d get in your perfect scenario. This gives you your range to keep in mind when working with your Realtor to decide on the sale price.

(By the way, in setting your asking price, review your priorities. Do you want to maximize your profit or to sell quickly? Price high to maximize your profit, but price closer to market value if selling quickly is your prerogative.)

Tip No. 9 Maximize your home’s sale potential

Each year, corporate North America spends billions of dollars on product and packaging design. The lesson here is that appearance is critical—and it would be foolish to ignore this when selling your home.

You may not be able to change your home’s location or its floor plan, but you can
do a lot to improve its appearance, if needed. The look and “feel” of your home generates a greater emotional response than any other factor! You may price your home to sell, but a prospective buyer reacts to what they see, hear, feel and smell.

Relatively inexpensive things can make a world of difference in how buyers perceive your home. Fresh flowers and potted plants indoors and out are a good alternative to an expensive landscaping job. Make sure your home is free of clutter – this is a great time to clean out closets – and that furniture is arranged so that it’s easy to navigate the house. Plenty of warm, flattering light is a must, as well – so check the bulbs in your lamps and fixtures, and open shutters or drapes to let the Asheville sunshine in!

Tip No. 10 Rely on other people’s judgment as well as your own.

The key to effective marketing is in knowing your product’s good and bad points. In the case of your home, accentuating the good can mean a faster sale for more money; failing to deal with the bad can mean months on the market and a lower-than- desired sales price.

The biggest mistake you can make at this point is to rely solely on your own judgment. Remember that this is your home, a place of fond memories. There are bound to be emotional issues that can impair your ability to make an honest assessment of your home’s strengths and weaknesses.

In evaluating what improvements you can make, don’t be shy about asking others for their opinions. But make sure you’re getting an honest answer; some may try to spare your feelings, which is just what you don’t need. Fortunately, your Realtor won’t be shy in discussing what should be done to make a home more marketable.

Tip No. 11 Clean like you’ve never cleaned before!

Pick up, straighten, de-clutter, scrub, scour, dust … well, you get the idea. If your living room feels crowded, take out every piece of furniture you can get away with. If your home still isn’t ready to appear in House Beautiful, then clean some more. Remember, you’re not just competing with other people’s homes—you’re also going up against brand-new homes as well.

Tip No. 12 Fix everything no matter how insignificant it may appear.

The step that squeaks, the light switch that doesn’t work, the hairline crack in the bathroom mirror—they might be minor annoyances to you, but they can also be deal-killers. The problem is that you never know what will turn a buyer off. And even something minor that’s gone unattended can suggest that perhaps there are bigger, less visible problems present as well.

Tip No. 13 Remove all traces of “you” from the home.
 
When you toured other people’s homes, you may have felt a little……well, uncomfortable. This probably occurred because you saw, heard or otherwise sensed something that made you feel as if you were intruding into someone’s private life.

The last thing you want others to feel in visiting your home is that same sense of discomfort. Avoid this by making sure that your home is as neutral as possible. Anything that interferes with a prospective buyers’ ability to see themselves living in your home should be removed and placed into storage. A few carefully chosen knickknacks and family portraits may add warmth and character to the home, but too many are a distraction. Also, it a good idea to avoid unique or trendy color schemes—paint and carpet in neutral shades of white or beige.

Tip No. 14 The little touches can make a big difference.

While personal items can detract, other small items can help make your house a home to potential buyers. A well placed vase of flowers, accent pieces of sculpture, potpourri in the bathroom— all can enhance the attractiveness of your home in a subtle, soft spoken way. Try perusing any of the homes magazines for tips.

Tip No. 15 Don’t let a smell be your downfall.

It can happen in the most beautiful of homes….odd smells kill deals quickly! All traces of food, pet and smoking odors must be eliminated. Even when you’re sure they’re gone don’t encourage prospective buyers to imagine things. If they know that you’re a smoker or that you have a dog or cat, they’ll start smelling odors and seeing stains that may not even exist. Be safe—don’t leave any clues.

But don’t go too far in the other direction. If you choose to light scented candles
or put out potpourri, be sure to choose very understated fragrances, like pine, herbal scents or a clean white floral. Stay away from “sweet” scents like fruits or too strong a vanilla, which many people find annoying.

Tip No. 16 Disclose everything.

Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers—in writing. If the buyer knows about a problem, he can’t come back with a lawsuit later on.

Tip No. 17 The more prospects, the better!

By maximizing your home’s marketability, you’ll increase your chances of attracting more than one prospective buyer. Why is this better? Because several buyers compete with each other; a single buyer ends up competing with you. Make sure you expose your home to all prospects.

Tip No. 18 Don’t get emotional during negotiations.

The extent of most people's experience in the art of negotiation begins and ends at their local auto dealership, and unfortunately, few of us have pleasant memories of haggling with car salesmen. But if you can just let go of the emotion you’ve invested in your home and approach negotiations in a detached, businesslike manner, you’ll find the process to be a lot less painful. In fact, you might even enjoy it—and you’ll definitely have an advantage over prospective buyers who get caught up in the emotion of the situation.

Tip No. 19 Know your buyer.

In the negotiation process, your objective is to control the pace and set the duration. The better you know the buyer, the more easily you can maintain control.

As a rule, buyers want the best property they can afford for the least amount of money. But knowing specifically what motivates your buyer enables you to negotiate more effectively. Maybe your buyer needs to move quickly. Or the maximum amount he can spend is just a little below your asking price. Knowing this information puts you in a better bargaining position.

Tip No. 20 Find out what you buyers can pay.

As soon as possible, try to find out the mortgage amount the buyer is qualified to carry and the size of his down payment. If he makes a low offer, question his Realtor about his client’s ability to really pay what you home is worth.

Tip No. 21 Find out when the buyer would like to close.

When a buyer would “like” to close is often when they need to close. Knowing this gives you his/her deadline for completing negotiations—again to your advantage in negotiating.

Tip No. 22 Don’t sign a deal on your next home until you close the deal on this one.

If circumstances conspire to force you into closing on your new home while you’re
still making mortgage payments on the old one, you might end up turning yourself into a seller who is eager (or desperate) for the first deal that comes along.

Tip No. 23 Don’t move out before you sell.

Studies have shown that it is more difficult to sell a home that is vacant—it looks forlorn, forgotten, and simply not appealing. It could even cost you thousands. If you move out, you’re also telling buyers that you have a new home and are probably motivated to sell.

Tip No. 24 Don’t give yourself a deadline.

Forcing yourself to sell by a certain date adds unnecessary pressure and puts you
at a serious disadvantage in negotiations.

Tip No. 25  Don’t take a low offer personally.

The first offer is often below what you both know the buyer will end up paying for your property. Don’t get angry or feel insulted; evaluate the offer objectively. Make sure it spells out the offering price, amount of deposit, a closing date and any special requests. Now you have a point from which you can negotiate.

Often a buyer will throw out an offer they know to be well below your homes market value to try to gauge your level of eagerness to sell. If you’ve done your homework and are sure that your asking price is reasonable, don’t let a super-low offer make you start second-guessing yourself.

Tip No. 26 A really low offer may mean the buyer simply isn’t qualified.

If you feel an offer is inadequate, now would be a good time to make sure the buyer has been qualified to carry a mortgage of the size this deal would require (if you haven’t learned this already). Ask how they arrived at their figure, and then suggest their agent use comparables to establish what homes are going for in your neighborhood.

Tip No. 27 Don’t take a low-ball offer seriously.

An unacceptably low offer should not be taken personally or seriously. Rather, it should be countered, even with the slightest of reductions in your asking price.
This lets a buyer know that their first offer isn’t seen as a very serious one.

Tip No. 28 Make sure the contract is complete.

The best way to avoid problems is to make sure that all terms, costs and responsibilities are spelled out in the contract of sale. A contract should include the date it was made, the names of the parties involved in the transaction, the address of the property being sold, the purchase price, where deposit monies will be held, the date for loan approval, the date of closing, any contingencies that remain to be settled, and whether there’s any personal property included (or not) in the sale, among other things. Your Realtor will make sure you are aware of all concerns and benefits.

Tip No. 29 Don’t deviate from the contract.

Resist the temptation to diverge from the contract. For example, if the buyer requests a move-in prior to closing, just say no. Now is not the time to take any chances of the deal falling through.

I know that this all sounds like a lot of work, and it definitely is. But it’s to be expected when selling anything of great value. And you’ll thank yourself for all the expense and time spent when the outcome is to your satisfaction.

Please feel free to call Louan at (888) 411-1898, locally at (828) 210-4900, or email her at LouanGideon@LuxuryAsheville.com if you have any other real estate questions, or would like to discuss any of these topics further. It’s our goal to be as helpful and informative as possible when working with Asheville area homeowners, and we hope this special report provided you with all the information you need!