Wondering how to sell your home in any market?  Why not give this brutally honest guide for selling your home a try?

#1 Sight

Visit the pending (under contract) homes in your immediate neighborhood with your Realtor.  Pay close attention to the homes condition, upgrades and location. Take photos, use a checklist, make notes or do whatever is necessary to realistically compare the positive and the negative attributes between properties. 

While the final sale price of the under-contract properties will not be available until they actually close, your agent can track this information for you and this will provide the best glimpse of your actual home value. 

Next, thoroughly review the recent (hopefully for the previous 3 months) sold properties with your agent.  While it will be unlikely to physically enter the sold properties, the MLS details, floor plans, location… should provide valuable insight on key similarities and differences between your property and the homes that are selling. 

Have your agent explain the absorption rate in your area so you have a general idea of what your neighborhood’s present rate of sales.

Incidentally -be aware of the Home Valuation Code of Conduct (HVCC) that went in to effect May 1, 2009 and understand how this is impacting home sellers during the appraisal process. 

In a nutshell – out-of-area appraisers, who know nothing about your neighborhood, are missing the mark on appraisals and coming in at under market value.  While this only applies to buyer’s using conventional Fannie Mae and Freddie Mac mortgage products, this is a huge piece of the buyer pool. 

Make sure, once your home goes under contract, that your agent shows up armed with accurate comparables, a list of upgrades, location nuances … and meets and effectively communicates this information with the appraiser.  And yes, agents can still meet the appraisers and provide information; it is the mortgage brokers who are prohibited from this activity.  Read more here: http://www.freddiemac.com/singlefamily/pdf/122308_valuationcodeofconduct.pdf

Okay, so you and your Realtor have done your homework so the question to ask becomes- how does your home visually stack up against homes that area actually selling?  

If your home measures up, disregard this section and proceed to the next. 

If your home doesn’t make the grade when comparing it to the recent sold homes, consider:

1). Whip into to shape with paint, new carpet, slab-granite counter-tops, refinish the hardwood floor, install new cabinets – correct anything that isn’t measuring up against the comparables.

2). If you have a floor-plan that is less than desirable, pull in a home-stager who can do wonders by artfully and strategically arranging the furniture to showcase the floor-plan in its best light.

3). Make the home picture perfect prior to having marketing or MLS photos taken.

4). Finally, set the stage for showings with mood lighting.  Turn on the floor lamps to create an inviting ambiance.  Open the blinds, draperies or shutters and let the light soak through the home.  In colder weather, turn on the electric fireplace. 

It’s all About Exposure:

Home buyers want photos, and lots of them.  I get calls and e-mail requests from out-of-town buyers who want additional pictures on homes.  This is something I just don’t get (not enough photos) unless it is a distressed property, but I won’t vent here.  Put the maximum allowed photos in your MLS and additional shots in syndicated sites such as Trulia. Few photos beg the question, “what is this home-seller hiding.”

Buyers like and expect virtual or video tours of your home if it is priced over 250K.  This is an easy way to create and excitement about your home’s best features.

Buyers also want to know about your neighborhood.  Have neighborhood information readily available on-line and in the outside sign box.  And, speaking of the sign-box, make sure it is loaded with full-color photos. 

Finally, likes attract.  Why not produce a simple video chatting about why you love your home and area and post it on youtube? 

#2 Smell:

This comes in second after sight in the home-selling importance department.  The time to pan-fry tilapia, steam broccoli, or deep-fry chicken is not while you are selling your house. Unfortunately, the odor from these yummy culprits takes forever to dissipate. Weather permitting; why not grill outside or otherwise pick less intense food choices for dinner?

Next – the touchy subject of pets.  As a critter lover who has three dogs, I understand how important pets are to people.  When showing to prospective buyers I can safely tell you they don’t want to see or smell any pet odors whatsoever.  Last week, I was showing a home (non-distressed property by the way) and could smell cats before I had the lock-box open.  Guess how long our visit to that home lasted?  Keep the pets washed frequently, litter-boxes clean and if possible take them with you when your home is being shown.

Finally, if there is an odor problem aside from cooking or pets, trace the source and eliminate it.  Trying to cover it up with those plug-ins in every room is a huge tip-off that you are trying to hide something.  Many home buyers are also sensitive to these products so again it reduces the time spent of viewing your home.  Mild smelling candles, odor neutralizers and eucalyptus – used sparingly, add a nice touch.  Fresh air does wonders.

#3 Hearing:

Classical music is always a nice touch for buyers when showing homes.  If you live on a busy road, consider hiring a contractor to install a soothing water feature.  If you have a home theater center, go ahead and have it on during showings as long as the selective movie is not offensive to buyers and not too loud.  Finally, if you have neighbors with barking dogs, beg, plead or bribe them to keep the dogs inside during showings.

#4 Touch:

Give the buyer a take-away – A beautiful brochure filled with color photos that captures the essence and spirit of your home and neighborhood.  It gives buyers something to hold on to and remember your home above the zillions of other properties they have seen.

#5 Taste:

Yes this is passé, yet I have never met a buyer who did not enjoy cookies left by the seller.  It is a fabulous touch and people enjoy a treat during a long day of showing.

Michelle A. Potter

Denver Realtor

RE/MAX Professionals