There are several keys to a successful real estate sale. Here are some of these factors, in no particular order. One element is realizing that the value of a property is what someone will pay for it, not what you think it's worth. Another is that you need to separate yourself emotionally from the property in order to be able to prepare it for sale successfully. A third is choosing the right agent - someone with whom you can see eye to eye, with whom you will not have a personality clash, who will help you choose the proper asking price based on his or her knowledge and evaluation of the local market, and who will negotiate the best deal for you when offers are made.
We are realists. We already knew that a home is worth what someone is willing to pay for it. In fact (and here I'm going to digress - bear with me), I knew a couple who had retired and were ready to relocate to their dream home in another state. They had picked out their retirement destination. But they refused to sell their home "until someone was willing to pay us what it's worth." They never sold it, and eventually they both passed away. That was quite a lesson, and I hope those of you who read this take it as food for thought if you are of the "pay us what it's worth" mindset. How long are you willing to wait?
Then there's the "fix-up/shine-up" process. Almost every home needs at least a little bit of preparation before it can be marketed (unless you're selling it "as is"). Of course, you don't want to spend a dollar to get back fifty cents on the sale. A good agent can help you make those decisions: which remedial projects will get you the most bang for your buck? That solid-oak mantel that you installed? It's out of style now. If the agent and the stager recommend that you have it painted white, LET THEM DO IT, even if it's not to your taste. Why? Because you're not the one buying the house. It's essential that you consciously detach your emotions from the house.
We did extensive research prior to choosing Steve as our sales agent for our home of 23 years. We read many online reviews of local agents. Several looked like good possibilities and had similar numbers of stellar ratings. But Steve was the only one who had taken the time to post YouTube videos talking about common buyer and seller issues and how he would handle them. It gave us an opportunity to "see" his personality. He seemed like a good fit for us right out of the gate. We wanted someone who was a go-getter, someone enthusiastic and energetic, someone who would help us move our house quickly.
At our first meeting in November, we laid out our plans and asked him for advice: Did he think we should sell our California home in the spring or wait until the summer? He was decisive from the start: Sell in the spring because that's the hottest time for the real estate market.
We then discussed the various things we would need to accomplish to prepare the home for sale. The next evening, he came back and brought his stager, Lindsay Guma. We revisited the items on the prepare-for-sale list, and Lindsay agreed with Steve on some and vetoed others. We agreed on a budget. Between the two of them, they had referrals for contractors to accomplish all of the work.
We next met with Steve in January after we had signed a contract for the purchase of our new home in Arizona. We signed a sales contract with Steve at that time and thereafter commenced the remedial work necessary to prepare the house for sale.
AND THEN ALONG CAME COVID-19.
And then the Alameda County Board of Realtors said: "Do you want to sell your house? YOU MUST MOVE OUT PERMANENTLY. No one can visit your house until you do." And so we moved into an extended-stay hotel.
Our house went on the market at 5:00 p.m. on Thursday, May 18, for $875K, beautifully staged by Lindsay. It looked NOTHING like "our" house. It looked like a model home. (We looked at the "competition" on Zilllow, and it was readily apparent which houses had been professionally staged and which had not. It made a world of difference. If you're wondering whether staging is "worth it," trust me - SPEND THE MONEY. You can really tell.) Within two hours, we had our first. On Monday evening, we chose from among six written offers. We accepted an excellent offer for $930K - $55K over the asking price. We chalk this up to Steve's savvy negotiating skills at the most crucial time in the entire process.
Most realtor-client relationships last probably about three months. This one has lasted seven and a half months. Steve has been a consistently good communicator, completely transparent every step of the way, straightforward with respect to what has been expected of us, and clear about what needed to be accomplished. He did all this with good humor even when we were frustrated. We cannot recommend him highly enough, and we would 100% hire him again if we were selling or buying another property in this area. read more