The Basics of Marketing Your Home

Your REALTOR^®’s marketing efforts and considerations will include advertising, showing the property, how long the house has been on the market and whether you're buying another home. Your home should be listed, whenever possible, through a Multiple Listing Service (MLS).

Advertising and Promotion

Properties are commonly advertised through real estate agent Web sites, Internet home search/listing services, classified advertising and real estate guides. Promotion efforts through office and MLS tours are a good way of getting other buyer agents to view your home and to promote it to the buyers they are working with.

Even with all these advertising avenues, " For Sale" signs on front lawns are still remarkably effective. Many REALTORS^®promote their Web sites on the sign and use brochure boxes with the signs to market the property. When appropriate, and with your permission, your REALTOR^® may send a mailing about your property to neighbors. Sometimes one of them has a friend or relative who always wanted to live near them. You never know how far reaching the benefits of word-of-mouth advertising by friends, relatives and neighbors can be.

Showings and Open Houses

To prepare your home for viewing, make it as bright, clean, cheerful and serene as possible. Always look at your home from the buyer's point of view. Your REALTOR^® will probably find a tactful way to suggest that you be absent while the house is being shown to prospective buyers, because your presence will inhibit their actions and conversations. They won’t feel free to open closets and cabinets, test out the plumbing and discuss their observations objectively as they walk through the house. It goes without saying that your children and pets should not be on the premises either.

If your REALTOR^® has scheduled an open house, you may want to notify the neighbors, and assure them that they'll be welcome. They'll jump at the chance to poke around in your house, and sometimes they can turn up a buyer among their friends.

Quick tips for showings and open houses:

Clean or replace dirty or worn carpets.
Open all curtains and blinds.
Replace any burned out light bulbs and turn on all lights.
Clear all clutter.
Clear all countertops.
Wash and put away any dirty dishes.
Set the dining room or kitchen table if you have particularly nice linen or china.
Simmer a few drops of vanilla on the stove.
Put on soft music.
Burn wood in the fireplace on cold days, otherwise, clean the fireplace.
Put fresh towels in the bathroom.
Take any laundry out of the washer and dryer.
Leave the house so your REALTOR^® is free to deal with prospective buyers in a professional manner.
Put pets in cages or take them to a neighbor.

How Long Has Your House Been on the Market?

Professional appraisers sum up their entire body of knowledge in three words: " Buyers make value." Your home is worth as much as a buyer will pay for it.

If your home has been on the market for months, it’s a clear message that the property may not be worth what you're asking for it. This is particularly true if there haven't been many prospects coming to see it. What you do at that point depends on whether you really need to sell, and whether you're working with a time limit.

If you're not really motivated to move soon, you can always wait - years if necessary - and hope inflation will catch up with the price you want. The problem is that in that time, your home begins to feel shopworn. Buyers become suspicious of a house that's been for sale for a long time.

If you really do need to sell, with your REALTOR^® discuss a schedule for gradually dropping your price until you find a level that attracts buyers. There's no point in saying, " We simply can't sell our house." Anything will sell if the price is right.

If You’re Buying Another Home

You may wonder what will happen when you're selling one home and buying another – how will all the details work out? This is a common situation and REALTORS^®, lawyers, and title and escrow companies have plenty of experience in arranging contracts and loans so that the two transactions dovetail smoothly.

And should you sell your home first then buy or buy first then sell? Ideally, it’s best to find a home you like and make an offer subject to selling your current home. This generally works in a normal market. However, in a “hot” market most sellers will not accept a “subject to sale” offer. In this case you need to sell your home first and then buy a new home in the interim period between selling and vacating your house.

If you find that you need to buy the next house before you've received the proceeds from the present one, lending institutions can sometimes make you a short-term " bridge" loan to tide you over between the two transactions. Make sure you fully understand the exposure and emotional investment before proceeding with this type of loan.

Get Your House Ready to Show to Buyers

A house that "sparkles" on the surface will sell faster than its shabby neighbor, even though both are structurally well maintained.

From experience, REALTORS^® also know that a "well-polished" house appeals to more buyers and will sell faster and for a higher price. Additionally, buyers feel more comfortable purchasing a well-cared for home because if what they can see is well maintained, they assume that what they can't see has probably also been well maintained. In readying your house for sale, consider:

how much should you spend to prepare your house for sale?
exterior and curb appeal
interior appeal

Before putting your house on the market, take as much time as necessary (and as little money as possible) to maximize its exterior and interior appeal.

How Much Should You Spend to Prepare Your House for Sale?

In preparing your home for the market, spend as little money as possible. Buyers will be impressed by a brand new roof, but they aren't likely to give you enough extra money to pay for it. There is a big difference between making minor and inexpensive polishes and touch-ups to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen.

Your REALTOR^® is familiar with buyers' expectations in your neighborhood and can advise you specifically on what improvements need to be made and which improvements are most effective. Don't hesitate to ask for advice.

Maximizing Exterior and Curb Appeal

When preparing to put your home up for sale, your first concern is the home's exterior. If the outside, or "curb appeal" looks good, people will more than likely want to see what's on the inside.

Here are some tips to enhance your home’s exterior and curb appeal to buyers:

Keep the lawn edged, cut and watered.
Regularly trim hedges and weed lawns and flowerbeds.
Be sure your front door area has a "Welcome" feeling.
Paint the front door.
In spring and summer, add a couple of pots of showy annuals near your front entrance.
In snowy areas, keep walks neatly cleared of snow and ice.
Check foundation, steps, walkways, walls and patios for cracks and deterioration, and fix any problem areas.
Remove and repaint any peeling paint on doors and windows.
Clean and align gutters.
Inspect and clean the chimney.
Repair and replace loose or damaged roof shingles.
Repair and repaint loose siding and caulking.
Reseal old asphalt.
Keep the garage door closed.
Store RVs and old cars elsewhere while the house is on the market.

Maximizing Interior Appeal

You want your home to look as spacious, bright and clean as possible. Also the home should look neutral – without a lot of your personal and sentimental objects - so buyers can begin to imagine living there.

Here are some tips to enhance your home’s interior appeal to buyers:

Give every room in the house a thorough cleaning and remove all clutter. This alone will make your house appear bigger and brighter. Some homeowners with crowded rooms actually rent storage garages and move half their furniture out, creating a sleeker, more spacious look.
Use a professional cleaning service every few weeks while the house is on the market.
Remove the less frequently used, and even daily-used items from kitchen counters, closets, basement and attic to make these areas more inviting.
Make sure that table tops, dressers and closets are free of clutter.
Pay special attention to the kitchen and bathrooms: they should look as modern, bright and fresh as possible. It is essential for them to be clean and odor free.
Repair dripping faucets and showerheads.
Buy showy new towels for the bathroom, and put them out only for showings.
Spruce up a kitchen in need of more major remodeling by installing new curtains and cabinet knobs, or applying a fresh coat of neutral paint.
Clean walls and doors of smudges and scuff marks.
If necessary, repaint dingy, soiled or strongly-colored walls with a neutral shade of paint, such as off-white or beige. The same neutral scheme can be applied to carpets and linoleum.
Check for cracks, leaks and signs of dampness in the attic and basement, and fix any problem areas.
Seal basement walls if there are any signs of dampness or leakage.
Repair cracks, holes or damage to plaster, wallboard, wallpaper, paint and tiles.
Replace broken or cracked windowpanes, moldings and other woodwork.
Inspect and repair the plumbing, heating, cooling and alarm systems.