Getting the Highest Price in the Shortest Time:
The most important factor of marketing your property is pricing it right. Your
price should be adjusted to reflect the market, and the property's worth.
The key is to get many people checking out your property at a fair price
instead of having no buyers because your price is set to high.
Another important factor is the condition of your home. Make sure that your
home looks ready to be sold. Fixing any defects (peeling or faded paint,
cracks, stains, etc.)can add value. Is the home or cabin insulated for year around use? Condition alone can sometimes prompt fast buying
decisions. Not only should you fix any defects, but consider upgrading your
home by making major repairs and cosmetic improvements before selling. A
well maintained home triggers the emotional response that can lead to a
financial response.
Terms and conditions are
another factor which may be considered to attract buyers. You may offer seller finanicing or a quick closing.
Lastly, we get the buzz out about your home or property. List your house or property with an agent from Mn lakeshore Properties that knows the market and area well. We will ensure that your property is listed on the MLS and on our website. After we list your property, our agents will contact potential buyers for your property. You property will be marketed for sale through our one of a kind, bright yellow "FOR SALE" signs, local advertisements, our three convenient office locations and exclusive website.
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Making a Good First Impression:
If you want buyers to be interested in your property, you need to show it in its
best light. A good first impression can influence a buyer into making an
offer; it influences a buyer emotionally and visually. In addition, what the
buyer first sees is what they think of when they consider the asking price.
A bad first impression weighs in as deeply. Don't show your property until
it's all fixed up. You do not want to give buyers the chance to use the
negative first impression they have as means of negotiation or reason not to revisit your property.
Our Real estate agents
see various properties everyday, and can give solid advice on what needs to be done. Consider
what architects or landscape designers have to say. What you need are
objective opinions, and it's sometimes hard to separate the personal and
emotional ties you have for the home from the property itself.
Typically, there are some general fix ups that need to be done both outside
and on the inside. As a seller, you should consider the following:
Landscaping - Has the yard been maintained? Is the shoreline developed? Are areas around the property and house that are
visible from the road or lake in good condition?
Cleaning or Redoing the driveway and yard - Is your driveway and yard cluttered with toys, old buildings,
tools, trash etc.?
Painting - Does both the exterior and the interior look like they have
been well taken care of?
Flooring - Does the carpet have stains? Or does the floor look old and
dirty?
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Know Why You are Selling:
If you know exactly why you are selling, then it is easier for you to set
the right plan of action to get what it is that you want.
If you are a seller who needs to close a sale as quickly as possible, then
you should know that getting the highest price possible is not one of your
priorities. It does not mean that you won't or cannot get the highest price,
but it means that the price is not the deciding factor. A buyer who can give
you a quick closing time will appeal much more to you than a buyer who can
offer you more money but the negotiation and closing time drag on.
It's always good to know how low you will go, in terms of selling price.
This will help to eliminate some of the offers that you find simply
offensive or ridiculous. Even though you should consider all offers
seriously and take into consideration the terms of each offer, sometimes, if
you know the bottom line and are strict about it, you can save yourself
time.
Once you know what your limits and reasons are, discuss them with your agent
so that they can help you set your goals realistically. The
key is to be realistic and to know what your goals are so that they can be
met.
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Setting the Price
The price is the first thing buyers notice about your property. If you set
your price too high, then the chance of alienating buyers is higher. You
want your house to be taken seriously, and the asking price reflects how
serious you are about selling your home.
Several factors will contribute to your final decision. First, you should
compare your property to others that are in the market. Mn Lakeshore agents, can provide you with a Market Analysis. The MA will reflect the following:
property in your price range and area sold within the last year
asking and selling prices of property like yours
current inventory of houses and property on the market
features of each house, cabin or property on the market
From the Market analysis, you will find out the difference between the asking price and
selling price for all properties sold, the condition of the market, and other
properties comparable to yours.
Also, try to find out what types of properties are selling and see if it applies
to your area. Buyers follow trends, and these trends can help you set your
price.
Always be realistic. And understand and set your price to reflect the
current market situation.
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Plan of Action
1)Analyze why you are selling - If you understand your motives, you will be
able to better negotiate and to get what it is that you want, whether it be
a quick sale, high price, or somewhere in the middle.
2)Prepare your property for the buyer - Maximize the strengths of your property
and fix up it's weaknesses. You want the buyer to walk away from your propety
with a lasting good impression.
3)A Mn Lakeshore Properties agent can evaluate your needs - We can negotiate to help you achieve your
goals. In addition, we will be assertive and honest with both you and
the buyer.
4)Be prepared for negotiations. Try to lock in the buyer so the deal goes through.
5)Negotiate for the best price and the best terms
6)Be honest with your disclosures; you
do not want to lose the deal because you were misleading or diminishing your
home's defects.
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Finding the Right Agent
Not all our agents work the same way, but one of most important attribute of our agents
is that he/she is well connected to the real estate industry. He/she knows the market in the mid to northern Itasca county area and can provide information on past sales, current listings, his
or her marketing plan, and at least 4 solid references. In addition, our agents are honest, assertive, and we try our best to
understand your needs.
Go with an agent from Mn Lakeshore Properties that lives and works in your area. Our offices are conveniently located in mid, northern and western Itasca county. We can better serve your needs; We are
familiar with what the local market condition is, the local prices are, and
what's hot or not in your community.
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Considering Offers
When reading an offer, keep in mind that you are out to get the best price
AND the best terms for you. If you focus solely on the price, you may
overlook terms that could be favorable to you as a seller.
Some terms that may work in your favor:
the buyer has none to very little contingencies
the buyer is offering a large earnest money check
the buyer will take care of any repairs
quick close - the buyer is pre-approved and ready to close in a time
that best suits you
the buyer is offering an all-cash deal
When reading through offers, remember to look at the whole package. Take the
time that you need to assess what is being offered and if it meets your
needs. Our agents at Mn LAkeshore Properties will be glad to help.
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