Real Estate Curve

1. Odors

House odors are number one on the home selling uh-oh list. And narrowing it down, odors from cigarette smoke and pets take top billing, with mildew not far behind.

If you smoke indoors–the house smells like cigarettes. If you have pets, the house might smell bad–even if you don’t notice it. Ask someone who doesn’t live there to take a sniff, and don’t get angry when they tell you the truth.

Eradicate the odors so that you can present potential buyers with a clean, fresh atmosphere–not a house that’s full of perfumes to cover up the odors.

2. Dogs that Meet You at the Door or in the Driveway

Dogs frighten some people and irritate others. You’ll have a much better response from showings if you control your pets–dogs, cats, whatever.

You say you plan to put them in a bedroom or garage and then ask people not to open the door to that area? Bad idea. Would you buy a house you can’t inspect? Of course not.

Remove pets during showings if possible. If you can’t, contain them in crates for their own safety and to show respect for the feelings of potential buyers.

3. Dirty Bathrooms

Grimy bathrooms are an instant turnoff. Scrub them, paint them, buy a new shower curtain, rugs and towels–do what it takes to make them shine. If you’re serious about selling the home, the extra work is a must.

4. Dimly Lit Rooms

Dark homes are a turnoff to most home buyers, so try to brighten them up:

• Replace dim light fixtures
• Install additional light fixtures
• Install (quality) sun tunnels or skylights
• Remove heavy drapes to let the light stream through windows
• Repaint some rooms with colors that reflect light
• Trim tree limbs that shadow the house

Dirty and fogged windows are another buyer turnoff. Clean them inside and out to bring in more light. If possible, replace any double-pane windows with broken seals. You can find them by looking for a foggy residue that cannot be removed.

5. A House Full of Busy Wallpaper

Busy wallpaper in every room turns off most buyers, and even people who love wallpaper rarely like what you’ve chosen. It’s a personal decorative touch that they want to select themselves.

It’s the masses you must appeal to when you’re selling a home, so take a hard look at your wallpaper and decide if it should be removed and replaced with paint. Don’t paint over it, because it will be obvious that you did–and buyers know that makes removing it even more difficult.

6. Damp Basements

Dampness or damp smells in the basement throw up a red flag to buyers that the foundation leaks!

Most problems we see are not caused by faulty foundations. They occur because rainwater is being diverted towards the foundation instead of away from it.

• Clogged underground drains
• No rain gutters along roofline
• Downspouts aimed the wrong way

Go outside the next time it rains and determine where runoff water is going.

7. Bugs

Roaches, spiders, any insect that shouldn’t be in the house. Get rid of them.

8. Poor Curb Appeal

You must grab a buyer’s interest from the curb if you want to sell the home for top dollar. Home buyers often refuse to go into a house with an unkempt yard, sagging doors or peeling paint. You say you can’t afford to paint? Okay, but get that yard in tip-top shape and grab a screwdriver to fix those doors.

9. Gutters with Plants Growing in Them

I’m serious. Some people never clean their gutters, and it always makes buyers wonder what else hasn’t been maintained.

Remember the drainage issue in #6? Cleaning packed gutters might help.

10. Sellers Who Hang Around for Showings

Yes, you… leave the house during showings. Home buyers feel awkward about opening closet doors and lingering for a really good look at the house if the seller is home.

1. How Long Have You Been in the Business?

The standard joke is there’s nothing wrong with a new agent that a little experience won’t fix. But that’s not to say that freshly licensed agents aren’t valuable. Much depends on whether they have access to competent mentors and the level of their training. Newer agents tend to have more time to concentrate on you. Some agents with 20 years of experience repeat their first year over and over. Other 20-year agents learn something new every year.

2. What is Your Average List-Price-to-Sales-Price Ratio?

Knowing the agent’s average ratio speaks volumes. Excluding sizzling seller’s markets, a good buyer’s agent should be able to negotiate a sales price that is lower than list price for buyers. A competent listing agent should hold a track record for negotiating sales prices that are very close to list prices. Therefore, listing agents should have higher ratios closer to 100%. Buyer’s agent ratios should fall below 99%.

3. What is Your Best Marketing Plan or Strategy for My Needs?

As a buyer, you will need to know:

• How will you search for my new home?
• How many homes will I likely see before I find a home I want to buy?
• Will I be competing against other buyers?
• How do you handle multiple offers?
• Do you present offers yourself?

As a seller, you will need to know:

• Specifically, how will you sell my home?
• What is your direct mail campaign?
• Where and how often do you advertise?
• Will you show me a sample flyer?
• How do you market online?

4. Will You Please Provide References?

Everybody has references. Even new agents have references from previous employers.

• Ask to see references.
• Ask if any of the individuals providing references are related to the agent.
• Ask if you can call the references with additional questions.

5. What Are the Top Three Things That Separate You From Your Competition?

A good agent won’t hesitate to answer this question and will be ready to fire off why she is best suited for the job. Everyone has their own standards, but most consumers say they are looking for agents who say they are:

• Honest and trustworthy
• Assertive
• Excellent negotiators
• Available by phone or e-mail
• Good communicators
• Friendly
• Analytical
• Able to maintain a good sense of humor under trying circumstances

6. May I Review Documents Beforehand That I Will Be Asked to Sign?

A sign of a good real estate agent is a professional who makes forms available to you for preview before you are required to sign them. If at all possible, ask for these documents upfront.

As a buyer, ask for copies of the following:

• Buyer’s Broker Agreement (is it exclusive or non-exclusive?)
• Agency Disclosures
• Purchase Agreement
• Buyer Disclosures

As a seller, ask to see:

• Agency Disclosure
• Listing Agreement
• Seller Disclosures

7. How Will You Help Me Find Other Professionals?

Let the real estate agent explain to you who she works with and why she chooses these professionals. Your agent should be able to supply you with a written list of referring vendors such as mortgage brokers, home inspectors and title companies. Ask for an explanation if you see the term “affiliated” because it could mean that the agent and her broker are receiving compensation from one or all of vendors, and you could be paying a premium for the service.

8. How Much Do You Charge?

Don’t ask if the fee is negotiable. All real estate fees are negotiable. Typically, real estate agents charge a percentage, from 1% to 4% to represent one side of a transaction: a seller or a buyer. A listing agent may charge, for example, 3.5% for herself and another 3.5% for the buyer’s agent, for a total of 7%.

9. What Kind of Guarantee Do You Offer?

If you sign a listing or buying agreement with the agent and later find that you are unhappy with the arrangement, will the agent let you cancel the agreement? Will the agent stand behind her service to you? What is her company’s policy about canceled agreements? Has anybody ever canceled an agreement with her before?

10. What Haven’t I Asked You That I Need to Know?

Pay close attention to how the real estate agent answers this question because there is always something you need to know, always. You want an agent to take her time with you — to make sure you feel comfortable and secure with her knowledge and experience. She should know how to listen and how to counsel you, how to ask the right questions to find out what she needs to know to better serve you.

1. Education & Experience

You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We’re all looking for more precious time in our lives, and hiring pros gives us that time

2. Agents are Buffers

Agents take the spam out of your property showings and visits. If you’re a buyer of new homes, your agent will whip out her sword and keep the builder’s agents at bay, preventing them from biting or nipping at your heels. If you’re a seller, your agent will filter all those phone calls that lead to nowhere from and try to induce serious buyers to immediately write an offer.

3. Neighborhood Knowledge

Agents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.

4. Price Guidance

Contrary to what some people believe, agents do not select prices for sellers or buyers. However, an agent will help to guide clients to make the right choices for themselves. If a listing is at 7%, for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.

5. Market Conditions Information

Real estate agents can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

6. Professional Networking

Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.

7. Negotiation Skills & Confidentiality

Top producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It’s part of their job description. Good agents are not messengers, delivering buyer’s offers to sellers and vice versa. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential from competing interests.

8. Handling Volumes of Paperwork

One-page deposit receipts were prevalent in the early 1970s. Today’s purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom. Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!

9. Answer Questions After Closing

Even the smoothest transactions that close without complications can come back to haunt. For example, taxing authorities that collect property tax assessments, doc stamps or transfer tax can fall months behind and mix up invoices, but one call to your agent can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist. Worthy and honest agents don’t leave you in the dust to fend for yourself.

10. Develop Relationships for Future Business

The basis for an agent’s success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again. Many will periodically mail market updates to you to keep you informed and to stay in touch.

Almost everybody loves pets except the home buyer who is buying your house. Don’t ask me why, but that’s often how it works out. Home sellers who adore their pets — and I count myself as a huge pet lover — have a hard time imagining the negative attitudes others harbor against pets. So, while this might be a bitter pill to swallow, if you want to get top dollar for your house, pay attention to how much you might lose with a dog or cat in residence.

Why Don’t Home Buyers Like Your Pet?

• Nervousness. Pets make some people very uncomfortable. Not everybody grew up with a family pet or enjoys outings at the zoo. Fur and four legs does not a human make.
• Fear. Real and irrational. It’s not only dogs that instill fear in people.
  

  All kinds of silly wives’ tales and superstitions involve cats.

• Inexperience. Pets are not always predictable.
• Your pets aren’t their pets. They imagine yours bite, jump, vomit, claw, spit-up hairballs or are just plain hyper and bad.

#1 Preferred Pet Solution

You’re not going to like this but I’ll say it anyway, fully realizing that this very excellent piece of advice is likely to fall on deaf ears. The best thing to do to ensure top price for your home is to relocate your pets while your home is on the market. Putting them in the back yard, in the garage or in another room that you keep locked is insufficient, and it’s not fair to them. You need to remove them from the house.

• Let a friend or relative care for Fluffy and Spike.
• Board them at a kennel.
• Send them on vacation.

Overcoming Negatives Associated with Your Pets

If you shrug off all professional advice and absolutely refuse to move your pets out of the house, then at least minimize the objections and nuisance factors, real or otherwise:

• Cat Litter Boxes & Dog Potty PadsKeep them out of sight and impeccably clean. Nothing turns off buyers faster than opening the door to the laundry room and being greeted by a full or stinky cat box.
• Carpet & Floor Pet StainsHire professionals to remove the stains. Buyers will spot them and form unfavorable opinions about the rest of the house. If the stains can’t be removed, then remove the floor covering and replace it.
• Pet Odors and Smells
  1. Cat urine is the worst. Without question. The. Worst. Bring in a neighbor to do a whiff test.
  2. Do not use air fresheners. People with allergies will react.

What Accessories Does a Stager Use?

Stagers bring in a vast array of items to spruce up the house. Here is a small sampling of items professional stagers often use to dress each room. How they are utilized is limited only by the creativity and vision of the stager.

• Mirrors
• Plants
• Silk Flowers
• Floor & Table Lamps,
• Area and Throw Rugs
• Small Love Seats
• Ottomans
• Afghans
• Pillows
• Inflatable Queen-Size Beds
• Baskets
• Plastic Tables & Chairs

1.Disassociate Yourself With Your Home.

• Say to yourself, “This is not my home; it is a house — a product to be sold much like a box of cereal on the grocery store shelf.
• Make the mental decision to “let go” of your emotions and focus on the fact that soon this house will no longer be yours.
• Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners!
• Say goodbye to every room.
• Don’t look backwards — look toward the future.

2. De-Personalize.
Pack up those personal photographs and family heirlooms. Buyers can’t see past personal artifacts, and you don’t want them to be distracted. You want buyers to imagine their own photos on the walls, and they can’t do that if yours are there! You don’t want to make any buyer ask, “I wonder what kind of people live in this home?” You want buyers to say, “I can see myself living here.”

3. De-Clutter!
People collect an amazing quantity of junk. Consider this: if you haven’t used it in over a year, you probably don’t need it.

If you don’t need it, why not donate it or throw it away?

• Remove all books from bookcases.
• Pack up those knickknacks.
• Clean off everything on kitchen counters.
• Put essential items used daily in a small box that can be stored in a closet when not in use.
• Think of this process as a head-start on the packing you will eventually need to do anyway

4. Rearrange Bedroom Closets and Kitchen Cabinets.
Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:

• Alphabetize spice jars.
• Neatly stack dishes.
• Turn coffee cup handles facing the same way.
• Hang shirts together, buttoned and facing the same direction.
• Line up shoes.

5. Rent a Storage Unit.
Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room’s purpose and plenty of room to move around. You don’t want buyers scratching their heads and saying, “What is this room used for?”

6. Remove/Replace Favorite Items.
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won’t want it. Once you tell a buyer she can’t have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.

7. Make Minor Repairs.

• Replace cracked floor or counter tiles.
• Patch holes in walls.
• Fix leaky faucets.
• Fix doors that don’t close properly and kitchen drawers that jam.
• Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
  (Don’t give buyers any reason to remember your home as “the house with the orange bathroom.”)
• Replace burned-out light bulbs.
• If you’ve considered replacing a worn bedspread, do so now!

8. Make the House Sparkle!

• Wash windows inside and out.
• Rent a pressure washer and spray down sidewalks and exterior.
• Clean out cobwebs.
• Re-caulk tubs, showers and sinks.
• Polish chrome faucets and mirrors.
• Clean out the refrigerator.
• Vacuum daily.
• Wax floors.
• Dust furniture, ceiling fan blades and light fixtures.
• Bleach dingy grout.
• Replace worn rugs.
• Hang up fresh towels.
• Bathroom towels look great fastened with ribbon and bows.
• Clean and air out any musty smelling areas. Odors are a no-no.

9. Scrutinize.

• Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
• Linger in the doorway of every single room and imagine how your house will look to a buyer.
• Examine carefully how furniture is arranged and move pieces around until it makes sense.
• Make sure window coverings hang level.
• Tune in to the room’s statement and its emotional pull. Does it have impact and pizzazz?
• Does it look like nobody lives in this house? You’re almost finished.

10. Check Curb Appeal.
If a buyer won’t get out of her agent’s car because she doesn’t like the exterior of your home, you’ll never get her inside.

• Keep the sidewalks cleared.
• Mow the lawn.
• Paint faded window trim.
• Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
• Trim your bushes.
• Make sure visitors can clearly read your house number