Mar 10

The Home Seller’s Mindset

REAL ESTATE BEAT    

The Home Seller’s Mindset
Written by Bill Barksdale


Pricing is everything in an adjusting market. 

Here is the simple formula.  Choose an agent with a strong Marketing Plan.  Don’t put your house on the market until you are sure you want to sell.  Be motivated.  Have at least one or two good agents prepare a Comparative Market Analysis (CMA) for you.  Go over it with your agent carefully so you understand the comparables.  This report shows how your house will fit into the current market based on recently sold houses of approximately the same square footage, lot size and condition as yours.  A CMA will also show comparable properties that are in escrow, expired and active on the market.  Pay attention to the DOM or days on market.  Been on the market for six months or with multiple companies?    Price or agent issues possibly.

If your price is right it will compare favorably with active listings just above and below yours on a list of homes for sale.  If your house is priced with houses that are a lot larger or in better condition or location, you may be priced too high.  By the same token, you don’t want to leave money on the table - not to be confused with pricing competitively to get it sold.

When your house is on the market, keep it in *show condition*.  Make it the best value in its price range.  If there are odors from pets, smoking or other sources do everything you can to neutralize them (not with strong perfume smells).  As the old saying goes “If I can smell it, I can’t sell it.”  You may have to shampoo the carpets or even replace carpets and paint.  Clean draperies, clean woodwork with Murphy’s Oil Soap if appropriate, don’t let garbage & laundry pile up.  Keep it light and bright.   You know, keep it clean and sparkling.

Get regular pricing updates from your agent (buyers are).  Be prepared to adjust your price if nothing is happening.  Have your agent show you the competition.  Look at a few of the houses in your price range.  Conditions are good right now.  The economy is doing fairly well, interest rates are still low, and people are out there buying houses.  So you missed the top of the market.  Move on.

Hey, keep your chin up.  As that insightful philosopher of the great depression, Shirley Temple, sang so many years ago “Be optimistic”.  Attitude goes a long way.

ABOUT THE AUTHOR, Bill Barksdale: I have been selling real estate in the Willits/Mendocino Co. market for over 18 years. I can be reached at Coldwell Banker Mendo Realty Inc. PH: 707.459.8888 or Email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . I hope you will find my site (Bill Barksdale's Real Estate Site) of use to your home buying or selling a home now or in the future.

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