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What To do Before You Sell

(Reprint Permission Granted. Click here for a list of other Advice to Home Sellers articles by this author.)

In a recent blog post, I was asked the question, "What are the top 5 things homeowners should do/replace to get the best value from their home?"

Here is my answer:

The first advice I would give anyone considering selling their home, is to get in touch with a local REALTOR, for specific advice about your specific property in your specific market.

But that aside, there are some general bits of advice I can give you:

Identify the areas that need most improvement. Ask yourself, "If you were looking to buy this home today, what about it would I want repaired or changed." Most buyers will conduct a home inspection, and may ask the seller to contribute to necessary repairs the inspector finds. I recommend that Sellersget an inspection, prior to listing the home for sale. The inspector will let you know all the areas that need immediate repair, or may need repair soon. Use that list as a basis to work from as you prepare to market your home. Home inspections range around $400 in my area. You can consult with your REALTOR for a list of qualified home inspectors in your area, or search on-line.
Clean. Clean. Clean. Homes that are clean are much easier to market than ones with odd stains, smells, smears, etc. Removing old carpet is often a good idea. De-cluttering is another simple improvement that can be made. Pack up all your out of season clothes, and anything you don't absolutely need, and put them in temporary storage, off-site. Not in the garage, basement, or attic. This way, when potential buyers see your home, they can tell just how deep the closets are, just how much room is in the basement and attic, and can picture their car in the garage, instead of your paint cans, kids sleds, and the Nordic Rider you haven't used in 5 years.
Top to Bottom, and In between. Top: Roof condition is a major factor for many buyers (and their lenders) Bottom: a wet basement needs to be addressed. In-between: Buyers often like to see clean walls, with fresh, neutral paint.
Gather important paperwork. Information you have on warranties for your appliances, furnace, water-heater, garage door opener. Termite inspection reports, roof certifications, etc. will all be handy when negotiating the final sale. The plot-plan or site map from the most recent survey will also be helpful, if you have it.
Consider some remodelling, to compete with other homes in the area. Below is some information, reprinted with permission from the National Association of Realtors, that applies to Remodelling:

Remodeling That Pays

Upgrading your home is always appealing, but which enhancements get you the best return for your money when it's time to sell? The 2007 Cost vs. Value Report by RemodelingOnline magazine has the answer.

Visit REALTOR® Magazine Online's Cost vs. Value page to view reports from previous years, order reprints, and find out how you can take part in next year's survey.

Posted by Rich Schiffer, REALTOR, e-PRO on 05/03/2007 12:05 PM

Comments (10)

advice to home sellers, tips for sellers

10 Comments on What To do Before You Sell

Hi Rich,

Thanks for the informative post. There are some great tips here for sellers.

Make sure to get that car out of the basement, though. I know it was a typo but I had to chuckle a little bit...

05/03/2007 12:25 PM

by Lanette Branch (RE/MAX 1st Advantage Realty, Inc.)

Thanks Lanette. I did once see a home with a boat in the basement. The owner actually built it down there, and had no way to get it out without disassembling it. I wonder if he was expecting flooding problems in his basement...

05/03/2007 04:09 PM

by Rich Schiffer, REALTOR, e-PRO (Weichert, Realtors)

This is an excellent post and some great info Rich. Do you mind if I pass this on to some of my clients, citing you as the source of course? This info strikes a cord with me as a homeowner...I've got some work to do:-)

05/05/2007 04:37 AM

by Jason Sardi, Pennsylvania Mortgage Broker (First Choice Equity Group Inc.)

Jason, I have edited the post to include a reprint premission statement. I can only take credit for the section above the Remodeling That Pays line.

05/05/2007 07:46 PM

by Rich Schiffer, REALTOR, e-PRO (Weichert, Realtors)

Just as well Rich, thanks.

05/05/2007 07:52 PM

by Jason Sardi, Pennsylvania Mortgage Broker (First Choice Equity Group Inc.)

GREAT INFO!!! But...............what about this..........."AND....contact a stager in your area to help you utilize basic design and decor techniques? We are selling lifestyle..........let's really sell it.'

05/05/2007 08:25 PM

by Julia Fedak, CSP-Canadian Staging Professional (Platinum Home Staging Design)

Julia, that is certainly sound advice, and I do maintain a list of stagers in my market area to call on when the time comes. This article was in repsonse to a specific question, posed presumably by a consumer. She asked for the top 5 things...and one of those (item #2) would likely be on the top of any stagers "to do" list, anyway.

This is one of the things that I dislike about "top-whatever lists." In the parameters set forth, such as Top 5 Pointers or Top 10 Tips, etc., you are never able to fully answer the underlying question, which is usually something like, "Tell me what I need to know about ______"

A stager is certainly part of the total solution in many cases. Not all homes require a stager's services, however, so I did not feel justified in including them in the general advice found in this "top 5" list in this post.

05/05/2007 08:41 PM

by Rich Schiffer, REALTOR, e-PRO (Weichert, Realtors)

Good points...but forgive me if I'm biased. I'm that way for a reason. The reason I am a Stager is because a good friend of mine, who is a very successful Real Estate agent, had strongly recommended it.

MOST homes I walk into..(.and if we're speaking about percentages, probably 98%) need staging.

The way we live in our homes is much different than the way we sell our homes. I had one agent call me in to do a consult on a beautiful centurian home. One of the owner's used to be an interior designer. Why would she call me?? Because of this reason exactly. Very rarely do you go into a home that is "move-in-ready"...and polls show that 76% of the buyers want move-in-ready. Most agents I work with call me in for every listing.........they see the benefits. Instead of spending money on second or third round of marketing the home, they pay for a consult....and some will pay for the staging. Good pic's engage good interest....good interest engage good bids....and good bids means good ridden's...home sold!

Look up stats on www.stagedhomes.ca........

I'm not trying to sell you...I'm in Canada.........in a place where Staging is a tough sell....but more and more, people are getting it. Your home is your largest investment for most.........then let's get top dollar on that investment.

05/05/2007 09:16 PM

by Julia Fedak, CSP, IRIS Platinum Home Staging Design

AND AGAIN...THANKS FOR POSTING THESE NUMBERS FOR US!!

05/06/2007 09:19 AM

by Julia Fedak, CSP-Canadian Staging Professional (Platinum Home Staging Design)

The 2007 remodeling report is out, and I updated the link in the post. Interestingly, the recoup % for remodelling seems to have peaked in 2005. I say interesting, but not surprising, since that year also marked what some are touting as the "peak" of the recent boom. The cost of remodeling may have gon up, in the past two years, but the amount a homeowner may expect to to recoup has actually slightly decreased. It will be further interesting to look at individual markets, and see if the remodeling recoup % has fallen at or about the same rate that home prices have in those markets.

12/10/2007 01:01 PM

by Rich Schiffer, REALTOR, e-PRO (Weichert, Realtors)

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