Before you undertake the monumental task of handling your own home sale, you should understand what it really takes to sell a home in today's market. Learn what you need in order to realize the highest price in the shortest, most convenient time frame, and accomplish a trouble-free sale! If you are not completely prepared, you could end up losing hundreds, even thousands, of dollars in profit. Read this Real Estate report today!

Pointer #1 - Where Do You Start?

At first, the task seems daunting: you haven't sold a home before or, at least, not for awhile; the market looks complex; and what worked for owners 10 or 20 years ago seems inappropriate today.

What steps should you take? Here's a baseline list to get you started.

You Can Do It. Some 5.25 million existing homes were sold in 2001--more than 14,000 a day. Other owners have done it and so can you.

Define Your Goal. Do you want the highest sales price--or the biggest check at closing? They're not necessarily the same. Imagine that two homes sell for $300,000, but one owner pays 2 points and agrees to replace the roof. The owner who sold without such costs got a bigger check at settlement. The bottom line: to have a successful sale, you need to look at both price and terms--you must have a strong negotiator in your corner.

Times Have Changed. Today's real estate marketplace is radically different when compared with the marketplace 10 years ago. Purchasers now use the Internet, receive seller disclosure forms, get home inspections and are routinely represented by buyer brokers. The result is that buyers can be better prepared than in the past.

Sparkle and Shine. Imagine going to a supermarket and seeing dusty fruit or aisles filled with old shelving and cans. It doesn't happen because the grocery store knows how to present its goods. Sellers must do the same. Get rid of things you don't want to move, organize closets and storage areas and clean everywhere.

Mechanics Count. Buyers expect everything to work. Home inspections are now entirely common and what buyers miss, home inspectors will catch. Fix and paint things now and they won't be an issue in the future.

Think Broadway. When buyers see your home, it's show time. They want an environment where they can see themselves. Give them a show where everything is painted, arranged and attractive--a home where the only issue is when to move in.

How's the Market? Real estate is local. Your broker can explain current market trends in your community, including what's selling, what isn't selling and why. This information is central to getting the best possible price and terms.

Know Your Rivals. Your property will be competing with other homes for buyer attention. Ask your broker how to be competitive--and how to have an edge.

What Time Is It? Markets differ by location and time. When interest rates are low and the local job base is growing, it's great to be a seller. But when times are slack and mortgage rates are rising, homes also sell. In 1981, when the prime rate topped 20 percent and the population was smaller, 2.4 million existing homes were sold. The trick is to be realistic in order to get as much as market conditions will allow.

Understand the Plan. Real estate marketing involves far more than a sign in the yard and an ad in the paper. Successful brokers use a variety of methods to attract and qualify prospects, including the latest Internet and communication advances.

Pointer #2 - Home Staging Equals Quick Sale

Basically, there are five steps to home staging:

·  Cleaning

·  Getting rid of clutter

·  Depersonalizing

·  Decorating and accessorizing

·  Maintaining

·  Cleaning

Cleaning

The word, "cleaning," doesn't mean your ordinary, weekly house cleaning. It means a deep cleansing in which every surface, every window and every nook-and-cranny sparkle and shine. Clean windows, ceiling fans, curtains and blinds, carpet--in short, everything. Eliminate unpleasant pet odors and even consider having someone else care for pets until the house is sold.

Getting Rid of Clutter

You're going to be moving anyway, so go ahead and start getting rid of the things you'll never need again and box up the things you can live without for a couple of months. Clean out about 50 percent of the things in closets, most of the knickknacks displayed around the home and enough furniture so that rooms look open and inviting. Kitchen and bath counters should be clean and uncluttered. Even the cabinets and drawers should contain only a few items, because prospective buyers will be opening doors and drawers and will want to see a lot of space.

Depersonalizing

It's important to remove most family photographs and personal collections. Buyers are trying to envision themselves living in every home they tour and it's hard for them to do that when faced with the seller's personal items. Every room of the house should have a general appeal for the majority of buyers. Leaving personal collections for the buyer to see distracts the purchaser by having him or her focusing on your things rather than the house.

Decorating and accessorizing

There are many improvements that can be made with little expense: A fresh coat of paint doesn't cost very much but will add impact. New window treatments, fresh flowers, green plants and pretty accessories all pack a punch without breaking the wallet.

Maintaining

Homes must be spotless as long as they're on the market. The very day someone leaves a dirty towel on the bathroom floor will be the day a prospective buyer walks through. Granted it's not easy to keep a home hotel-clean while someone is living there, but the payoff may be a quicker sale and perhaps a higher price. Keep the outside as clean and neatly-maintained as the inside. Have the lawn mowed and place trash cans out of sight. A nice potted plant, a clean doormat and a front door wreath make the home seem more inviting.

Home staging can include everything from a thorough cleaning to a complete remodeling. The more staging, the better the chance of securing a quick sale. But all homes are unique, so be sure to work with your broker to find the staging tricks that work best for your property.

Pointer #3 - Should You Make Repairs?

What if an item needs repair, something that doesn't jeopardize anyone's health or safety--a problem of the "out of sight, out of mind" variety? Should you simply disclose it and leave the buyer to deal with the problem? Or should you fix it before placing your home on the market?

Before making any decisions, consider that repairing the problem could result in a higher sales price. It's sweet music to any buyer's ears to hear the terms "new" or "just replaced" as they walk through a home.

Think of it this way: a move-up buyer or transferee has a good idea of what it takes to operate a home. The goal here is to move in with the fewest costs and headaches, so making repairs in advance is a big selling point.

For first-timer buyers, the situation is somewhat different. First-timers also want to reduce both headaches and costs where possible, but there is another issue as well: buying a first home is a big step, financially and psychologically. Adding another cost or problem to a list of general concerns might be a deal-breaker, one more reason not to buy.

Another point to consider: many if not most home sales today include the use of a home inspection clause. Depending on how it's written, this clause can allow buyers to terminate a contract if the inspection is not "satisfactory" to them or if certain repairs are not completed.

If the inspection uncovers an item that needs to be repaired, what does the buyer do? The buyer asks for a discount--sometimes a very ambitious discount based on an inflated view of repair costs. In effect, some purchasers will use an inspection clause to re-open the entire bargaining process.

When considering minor aesthetic improvements, your decision should depend on local market conditions. The questions to ask are: what's needed to be competitive--nd what's not? In a hot seller's market, you may not need to change a light bulb while in a buyer's market, your list of repairs and upgrades may be extensive.

While not fixing up is one problem, fixing up too much--over-improving-- is also an issue. The usual rule for buyers is that they purchase the least expensive home in the most expensive neighborhood they can afford. The result is that a house with too many improvements may be priced at the top of the local market, not the best place to be from a selling standpoint.

An over-improved house--or one without appropriate repairs--is likely to languish on the market, to become "stale." This is a major marketing problem because the longer a home is available for sale, the less likely it is to sell for top dollar.

Equally troublesome, the longer a home remains available for sale, the more it costs the owner in terms of monthly mortgage payments, tax obligations and insurance costs. A delayed sale can also slow the purchase of a replacement property.

What repairs and improvements should you make to get top dollar? Every home is different, so let's get together and see what's best in today's marketplace.

Pointer #4 - Choosing the Right Agent

Look for agents who have a market presence in your neighborhood. Agents "farm" certain areas, making them experts in particular neighborhoods, types of homes or even special clientele, such as seniors or first-time homeowners. Look for an agent with expertise in your neighborhood for your type of home.

If you know an agent, or one of your friends raved about theirs, you should think about contacting them first.

Check out advertisements.
In the "homes" section of the newspaper, agents will advertise their listings and sometimes the homes they've sold. See which agents have the most listings/sold homes. Busy agents are good agents.

You can also look on our Web site for agents in your area.
Just click on "AGENTS" and this will take you to a list of states. Next, select the city you're closest to/in. A list of agents will show up. There's even a link there to tell you what all the letters after an agent's name mean.

Here are some questions you might want to ask.

How many years have you been in the business?
Just because someone's been in the business for a long time doesn't necessarily mean that they're good. You don't want an agent that's just been skimming by for the past 15 years. However, these agents usually will have built up a reputation and be able to provide recommendations. But don't overlook the agent who is just starting out--they can be more excited and motivated, and more able to give you personal attention.

What professional designations do you hold?
This is where all those letters at the end of a name (Jane Doe, GRI, CRS, ABR) come into play. These are designations that indicate an area of expertise. It means that the agent has put in extra time to learn their trade and has earned the designations through experience and by passing tests. The letters, however, are only significant to you if they mean the agent is more qualified in the areas you need. An ABR, for example, is great if you are looking for a buyer's agent, but as a seller, you will be more interested in a GRI or a CRS. Ask what the letters mean and how the designation benefits you as a seller.

How many sellers do you currently represent?
A busy agent is a good agent...most of the time. You don't want an agent who has 50 bajillion clients because then they're going to have less time to spend on you. Find out what kind of staff they have to support the number of listings they have. However, someone with only one client is not necessarily a good thing.

How many properties have you sold in the last year? What type of properties were they?
Whatever they answer, this question will really help you compare them to other agents. Ask how long, on average, it took the agent to close these deals. You probably want your home to be sold quickly. Just as you found out what types of homes the agent specializes in, find out the price range of homes they generally sell. If they specialize in selling million dollar homes...your condo will probably be very low on this agent's totem pole.

Can you provide me a list of references?
Check with the agent's former clients and see if they were satisfied.

Do you work on your own or are you part of a real estate team?
If the agent is a part of a team, this can work to your advantage because you have the other members working to sell your property as well, and you don't have to pay any extra. Just make sure to meet with the other team members if this is the case. You want to get along with everyone on the team. Find out whom you would contact for all phases of marketing and closing. A good agent will make sure that she or he is always available to you, so that you aren't left hanging for answers or getting response calls from people you don't know. If you find you are always talking to an assistant and never to the agent you hired, you may be understandably frustrated. A good agent will never let that happen.

Is there anything else you'd like to tell me about yourself, your company or your career?
This is where you give the agent an opportunity to get all warm and fuzzy with you. A "bonding" moment, if you will. You want your agent to be someone you can trust and feel comfortable working with. Really examine their personality.

Sparks says that once you've interviewed all of the potential agents, narrow the list down to about three. Then ask these three agents to put together a formal presentation for you. "This presentation should include a comparable marketing analysis (CMA). The analysis lists the selling prices of houses similar to yours and is used as a guide for you and your agent to determine how to price your place. The presentation should also include an overall marketing plan for the house."

Based on the answers the agents give at the interview and the way their presentation looks, you should be able to confidently choose an agent. It's a bit of work, but in the end, it will ensure your happiness with the agent you choose to help you with your real estate needs.

Pointer #5 - How to Enlist Your Children

Once the "For Sale" sign goes up, so will your sensitivity about how your home holds up under the scrutiny of would-be buyers. Of course, you'll want your home as clean and attractive as possible so that potential buyers will be impressed as soon as they enter your freshly-painted front door.

You know what it's like getting your house ready for a dinner party or a holiday get-together. If you're like most home sellers, you'll want your home to meet similar standards, but at the drop of a hat--or the ring of a cell phone. It's not an easy task, especially if you have kids.

You may be in the middle of dinner and get a call from a real estate professional and her clients. They're 15 minutes away and want to stop in. And you know those hectic mornings trying to get everyone out the door? You'll need to make sure you leave your home in "showing" condition in case you have any lookers during the day.

But you don't have to live in a state of panic. Whether you have a 4-year-old or a 14-year-old, there are some things you can do to reduce the stress and help stay more organized. Some things to consider:

Set rules. Begin this as early in the process as possible. Let each child know what is expected as far as keeping their bedroom and play areas in order.

Setting rules isn't just for the kids. If you don't want dinner interrupted, you can specify that your home is unavailable for viewing between 6 and 7. Or, if you need one day a week to recoup and let your guard down, let your agent know the house is unavailable on Wednesdays or whatever day you see fit.

Pack away most of the toys. You'll be moving anyway, so start filling the moving boxes with the kids' toys. This will make straightening up quicker after your child plays, and could make the house look less cluttered--and more attractive to shoppers.

Allow about 20 extra minutes in the morning. Get yourself and the kids up early. Let them know in advance what their responsibilities are as far as keeping kitchen, bathroom and bedroom areas clean.

If you have an infant or toddler who still uses a highchair, you know it's impossible to keep your floor clean. The crunch of loose Cheerios under your feet and the smothering of banana wedges on the floor are daily occurrences. Invest a few dollars in a shower curtain liner to place underneath the highchair. Shake it off or clean it after meals and put it away in the morning if potential buyers may look at your house that day. The shower curtain will keep you from having to clean the floors every time your child eats and can be quickly removed at a moment's notice.

If you've never been picky about your kids running through the house after soccer practice, that's good. Now, however, you'll want to temporarily change your standards. Be sure your children--especially if they enjoy playing in the mud or sand--take off their shoes and socks before entering the house. Although homebuyers understand that carpets can be cleaned, dirt marks on the floor leave a bad first impression and contradict your pride of homeownership.

Limit visitors. If your kids are older and frequently have their friends over, you may want to curtail that for a while. Many home sellers prefer to be away from the house when potential home buyers come by. It could be difficult to tear a quartet of 10-year-old boys from their activities (unless, of course, they're doing homework).

Remember curb appeal. First impressions are everything. Make sure your kids don't have a collection of bicycles, scooters, skateboards, sports gear or anything else greeting visitors at the front door.

Finally, we won't call it bribery, but "challenge" your children to keep their rooms clean. Make it a contest. Offer surprises or rewards related to the moving process, like something for their new bedroom in your new home. Let them paint their room in their new home any color they like (if you dare!).

Most importantly, don't let yourself get overwhelmed with pressure to have your house look like Martha Stewart's. If you're stressed, your kids will pick up on it and adopt the stress, too. If you stay relaxed and give yourself plenty of extra time each day, your kids are more likely to follow suit, which is better for your kids, your family and your chances of selling your home quickly.

Pointer #6 - Five Keys to Successful Negotiation

Negotiation is a complex matter, and all transactions are unique. Both sides--buyer and seller--want to feel that the outcome favors them, or at least represents a fair balance of interests. In the usual case there is a bit of bluff, some give-and-take and neither party gets everything they want.

So how do you develop a strong bargaining position, one that will help you get the most from a transaction? Experience shows there are five basic keys that will determine who wins at the negotiating table.

1. What Does the Market Say?

At various times we're in a "buyers" market, a "sellers" market or a market where supply and demand are roughly equal. If possible, you want to be in the market at a time when it favors your position as a buyer or seller.

Because all properties are unique, it is possible to buck general trends and have more leverage than the marketplace would seem to allow. For instance, if you have a property in a desirable neighborhood with few sales, you may be able to get a better deal than elsewhere. Or if you're a buyer who can quickly close, that might be an important negotiating chip when dealing with an owner who just got a new job 500 miles away.

2. Who Has Leverage?

If you're on the front page of the local paper because your business went bust--and the buyer knows it--you have less clout in the bargaining process. Alternatively, if you're among six buyers clamoring for that one special property, forget about dictating an agreement--the owner can sit back and pick the offer that represents the highest price and best terms.

3. What are the Details?

A lot of attention in real estate is paid to transaction prices. This surely makes sense, but the key to a good deal may be more complex.

Consider two identical properties that sell on the same day for $275,000. The houses are the same, the sale prices are the same, but are the deals the same? Maybe not. For instance, one owner may have agreed to paint the property, replace the roof, purchase a new kitchen refrigerator, and pay the first $5,000 of the buyer's closing costs. The second owner made no concessions.

In this example, the first house was actually sold at discount--the $275,000 purchase price less the value of the roof repairs, closing credit and other items. If you're a buyer, this is the deal you want. If you're a seller, you would prefer to be the second owner and give up nothing.

4. What About Financing?

Real estate transactions involve a trade--houses for money. We know the house is there, but what about financing? There are several factors that impact the money issue.

Has the buyer been pre-qualified or pre-approved by a lender? Meeting with a lender before looking at homes does not usually guarantee that financing is absolutely, unquestionably available--a loan application can be declined because of appraisal problems, title issues, survey findings and other reasons.

But buyers who are "pre-qualified" or "pre-approved" (these terms do not have a standard meaning around the country) at least have some idea of their ability to finance a home and know that they are likely to qualify for certain loan programs.

The result is that pre-qualified buyers represent less risk to owners than a purchaser who has never met with a lender. If the seller accepts an offer from a buyer with unknown financial strength, it's possible that the transaction could fail because the buyer can't get a loan. Meanwhile, the owner may have lost the opportunity to sell to a qualified buyer.

The lower the interest rate, the larger the pool of potential buyers. More buyers equal more potential demand, good news for sellers.

Alternatively, high rates or even rising rates may drive buyers from the marketplace--and that's not good for anyone.

It used to be that downpayments were a major financing hurdle--but not anymore. For those with good credit, loans with 5 percent down or less are now widely available. In fact, 100 percent financing--mortgages with nothing down--are now being made by conventional lenders. Reduced downpayment requirements are good for both buyers and sellers.

5. Who Has Expertise?

Imagine you're in a fight. The other guy has black belts in 12 martial arts--and you don't. Who's going to win?

Brokers have long represented sellers, and now buyer brokerage is entirely common. In a transaction where one side has representation and the other does not, who has the advantage at the bargaining table?

We sincerely hope you have enjoyed our "Home Selling Pointers" report. We truly appreciate your business and look forward to keeping in touch with you.  Our site is updated daily with new and valuable information. Please visit as often as you like and consider it your personal real estate resource center. Would you be so kind as to take a moment and let us know what we can do to help you? Do you need any further information about homes for sale? Do you have a home to sell? Do you want mortgage information?

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