Why You Should Use a Real Estate Professional

Many first time sellers often wonder why they need a real estate professional at all when selling their home and consider arranging a FSBO sale. Otherwise known as For Sale By Owner, this means the owner markets, arranges showings, open houses and negotiates the final contract terms without any assistance from a licensed real estate professional. It is my personal experience that a seller has far more to gain than lose when working with a licensed professional versus going the FSBO route. Most often than not people are not fully aware of the role an agent plays in the process and I'm often asked a number of very valid questions in regards to my role as an agent running up to, during and after a sale. These include:

• Will I sell my home for a higher price with an agent?
• Will I sell my home faster with a REALTOR?
• How much will it cost me to sell my home with a professional and without?
• Will I get the same exposure?

Real Estate is like every other industry. If you needed to go to court, you'd consort a lawyer. Or if you needed to replace the engine in your car you'd hire a mechanic. The same is true when buying and selling properties in Southern New Hampshire.

A real estate professional earns their commission:

• By pricing your home right the first time: Pricing a home is a delicate business. Too high and no one will even bother to view it. Too low and you can lose out on tens of thousands of dollars. An agent is capable of looking at your competition in real time and adjust your asking price to better fit with market value so your home sells quickly for a fair price.
  
  
• By giving you exposure: Many agents utilize a system called the MLS, short for Multiple Listing Service. This is a database that is typically only available to licensed agents and brokers. It lists all the homes for sale in any given parameter. If you're working with a real estate professional your home can be added to this aggregate and can be viewed online through services such as REALTOR.com and by other professionals searching in your area.
  
  
• By generating referrals: As business professionals real estate agents are in constant contact with other agents, brokers, past clients and personal contacts. A recent study by The National Association of REALTORS shows that 82% of all real estate sales are the result of direct contact between agents. By working with an agent you gain access to this often overlooked but incredibly important marketing medium.
  
  
• By advertising for you: Advertising a home takes experience. Some methods work better in certain situations and in certain markets. Real estate professionals know what will work best for your property, preventing you from losing money on ineffective and unsuccessful marketing techniques.
  
  
• By saving you time: You'll never have to worry about having to miss a showing because of your son's ball game. An agent can supervise showings when you're not home and pre screen appointments to ensure only qualified, serious buyers are seeing your property.
  
  
• By negotiating on your behalf: Most often than not buyers prefer to negotiate with someone they perceive as not emotionally attached to a property. A real estate professional greases the wheels of success by answering delicate questions and negotiating fairly and accurately.
  
  
• By coordinating the sale: There's more to closing a sale than signing a piece of paper. There are often inspections, appraisals, qualifications, escrows and financing to worry about. A REALTOR coordinates all of these around your busy schedule so you don't have to worry about it.
  
  
• By providing peace of mind: By working with a real estate professional you have years of experience and first hand knowledge to fall back on. You're never alone in the transaction and a good agent will always explain every step of the way to you so you understand what's happening.

The most valuable asset you can have during the sale of your home is a real estate professional regardless of if you're selling a multi family in Nashua, a condo in Merrimack or a Cape in Bedford. If you're in doubt call, email or sit down with one and explain your situation.

What is a CMA or Comparable Market Analysis?

Simply put a Comparable Market Analysis (or CMA for short) is both an estimate on how much your home is worth in the current real estate market and a report card for your neighborhood. There are a number of reasons why someone may want a CMA, but most real estate agents complete Comparable Market Analyses on a homes they're preparing to list on the market.

Not only does it give them a rough idea as to how to market a home, but it also allows professionals to gauge if activity in a market is stagnating, increasing or declining and by how much.

Typically homes are graded by a direct and recent competition. For example, a good REALTOR would not use a recently sold Ranch in Merrimack with 1,150 square feet to price a Colonial in Bedford with 4,500 square feet and a four car garage.

Two main types of properties are considered when producing a CMA. Recently sold properties are typically considered if they've been purchased within a reasonable time frame (180 days or so) and currently active properties that would be direct competition. The difference between the two allows a professional to determine whether especially aggressive pricing may be required to sell a home within a reasonable time frame.

A Comparable Market Analysis differs from an appraisal in the fact that appraisals contain a significant amount of data specific to your home. It's more of a score card as to the condition of your property. Appraisals are performed by professionals who specialize in that field and are often not licensed REALTORs. Appraisals can often cost several hundred dollars, depending on the size of your home and a number of other determining factors.

Make Your Open House a Success

One of the most popular marketing techniques used today is the open house. An open house is a great opportunity not only to kick off marketing your home, but to allow neighbors to get a look at what's selling in their area, if only for decor ideas. While this may sound a little nosy, it increases word of mouth that your home is now available for sale. You never know who's brother, cousin or friend is looking for a home in a nice neighborhood.

Marketing a home is a complex and time consuming affair and this is by no means a catch all. You can never replace the first hand experience and personal touch a REALTOR can add to the transaction. That being said here are some tips on how to make your next open house a successful one.

• Repair: Before letting the public view your home en mass you should ideally complete any small or cosmetic repairs such as paint touch ups or fence mending beforehand. Not only will this make a great first impression during an open house, but it'll help during regular showings as well.
  
  
• Curb appeal: Depending on the season consider having potted plants and flowers outside your home and keep a tidy lawn free of debris. If you're displaying the house in the winter, make sure to have your driveway, sidewalk and doorway plowed, shoveled and salted. The last thing anyone wants are slip, trips and falls.
  
  
• Impersonal, yet warm: If you're holding an open house while you're still living in the home consider removing some family pictures from the walls. It'll make it easier for potential buyers to visualize it as their own home as well as increase the perceived size of the room. If your taste in art is particularly unique it also may be a good idea to remove your art collection as well.
  
  Also try having a bouquet of flowers in the foyer or dining room, if practical. If weather permits light your fireplace. It'll make your home look lived in, but not too alien
  
  
• Light & Bright: No one wants to live in a cave. If you're holding an open house on a sunny day, keep your curtains open and let the light in. On darker and overcast days consider flipping all the lights on. If your home is still dark, try increasing the wattage of bulbs you're using in your light fixtures (if practical and safe).
  
  
• Cleanliness: Your home should sparkle while on the market and especially during an open house. Keep dishes cleaned and put away, floors vacuumed, windows washed and home offices free of loose papers and cords. First impressions are everything.
  
  
• Noise: It's surprising what noises people can get used to. You might be able to block out background noise in your neighborhood without even thinking about it. But guests viewing your home for the first time will likely pick up on every little detail. It's not hard to imagine an open house spoiled by moderate road traffic, a noisy lawn mower or an especially loud furnace.
  
  You can overcome these obstacles by scheduling your open house at a time when ambient neighborhood noise will be relatively low. You can also have a radio with soft, non lyrical music playing in the background.
  
  
• Smell: Whether we like it or not some spots in every home smell a little. Your basement might smell a little musty. Or your son might be infamous for leaving gym socks under the bed. It's important not to overlook the influence smell will have over potential buyers. In higher moisture areas like basements, breezeways and three season porches consider using a dehumidifier or using a product like Damp Rid. You can also try plug-in air fresheners and potpourri. If all else fails there's nothing wrong with baking a fresh batch of cookies for your guests to enjoy!
  
  
• Clutter: Place any unnecessary pieces of furniture into storage and store any small kitchen electrics in cabinets and cupboards to increase perceived floor and counter space.
  
  
• Treats: It won't affect the value of your home, but providing treats will help make your open house a memorable one, which may be enough for you to stay in the minds of potential buyers. Individually wrapped candies, sugar cookies and other tasty treats are all great ideas.
  

Selling a home can be a stressful and confusing experience if done with haste or without the right real estate professional. But the easiest way to get the word out is to hold an open house. With these tips you're sure to make your next one a smashing success.

Selling Your House: Disconnect Yourself

If you have experience dealing with real estate agents you've probably noticed if you're looking to purchase properties are often referred to as "homes." And if you're looking to sell your property is often referred to as a "house." There's a very good reason for this.

Homes are very personal and emotional things. Most people spend a lot of time in them. They're our refuge from a tough day at work or a stressful season. As such buying and selling them is often a very personalized and emotional experience.

Selling is a lot tougher than buying. Why? You’ve invested a lot into your house. Whether they're additions, upgrades or fond memories you're going to naturally and understandably have a lot of sentimental value attached to it.

When preparing to sell it's very important to detach from these emotions as much as possible. These emotions may cloud judgment and may prevent an otherwise great property from selling. How?

• By looking too much like a stranger’s home: When preparing your property for the showings that will invariably come it's important to anonomize as much as possible. A property that looks like it belongs to you and only you will be harder for a buyer to imagine as their own.

• By giving unrealistic expectations: The market isn't set by any one individual. As such it changes constantly. Sentimentality isn't a price determining factor, the supply of competing homes on the market is. A property priced with sentiment in mind will likely stay on the market longer simply because it's being undercut by the competition.

• By hampering negotiations: A potential buyer may find a particular property to be really worth $20,000 less than asking price. It's very easy to become defensive when the value of your home is under question. But the potential buyer isn't looking for a fight and they're not concerned with all the great times you've had by the pool or in the dining room. They're concerned with how much their monthly payments are going to be.
  
  This can make negotiation a combative process. This only serves to drive away buyers, cause stress and make interested parties less likely to meet you half way on a concession. All of these will keep your property on the market longer.
  

Sometimes it's easy to disconnect from a property. Other times it's extremely difficult to let go. It's always a good idea to distance yourself from the emotions associated with a property in the end of things, though. It’ll aid you in making an intelligent, well informed decision when it comes to it.