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5
Feng Shui Concepts to Help a
Home Sell
To
put the best face on a listing
and appeal to buyers who follow
feng shui principles, keep these
tips in mind.
1.
Pay special attention to
the front door, which is considered
the “mouth
of chi” (chi
is the “life
force” of
all things) and one of the most
powerful aspects of the entire
property. Abundance, blessings,
opportunities, and good fortune
enter through the front door.
It’s
also the first impression buyers
have of how well the sellers
have taken care of the rest
of the property. Make sure
the area around the front door
is
swept clean, free of cobwebs
and clutter. Make sure all
lighting is straight and properly
hung.
Better yet, light the path
leading up to the front door
to create
an inviting atmosphere.
2.
Chi energy can be flushed away
wherever there are drains in
the home. To keep the good forces
of a home in, always keep the
toilet seats down and close
the doors to bathrooms.
3.
The master bed should be
in a place of honor, power,
and
protection, which is farthest
from and facing toward the
entryway of the room. It’s
even better if you can place
the bed diagonally in the
farthest corner. Paint the
room in colors
that promote serenity, relaxation,
and romance, such as soft
tones of green, blue, and
lavender.
4.
The dining room symbolizes the
energy and power of family togetherness.
Make sure the table is clear
and uncluttered during showings.
Use an attractive tablecloth
to enhance the look of the table
while also softening sharp corners.
5.
The windows are considered to
be the eyes of the home. Getting
the windows professionally cleaned
will make the home sparkle and
ensure that the view will be
optimally displayed.
Source:
Sell Your Home Faster With Feng
Shui by Holly Ziegler (Dragon
Chi Publications, 2001)
5
Things to do Before Putting
Your Home on the Market
1.
Have a pre-sale home inspection.
Be proactive by arranging
for a pre-sale home inspection.
An inspector will be able
to
give you a good indication
of the trouble areas that
will
stand out to potential buyers,
and you’ll
be able to make repairs
before open houses begin.
2.
Organize and clean. Pare down
clutter and pack up your least-used
items, such as large blenders
and other kitchen tools, out-of-season
clothes, toys, and exercise
equipment. Store items off-site
or in boxes neatly arranged
in the garage or basement. Clean
the windows, carpets, walls,
lighting fixtures, and baseboards
to make the house shine.
3.
Get replacement estimates.
Do you have big-ticket items
that
are worn our or will need
to be replaced soon, such
your
roof or carpeting? Get estimates
on how much it would cost
to replace them, even if
you don’t
plan to do it yourself. The
figures will help buyers
determine if they can afford
the home,
and will be handy when negotiations
begin.
4.
Find your warranties. Gather
up the warranties, guarantees,
and user manuals for the furnace,
washer and dryer, dishwasher,
and any other items that will
remain with the house.
5.
Spruce up the curb appeal.
Pretend you’re
a buyer and stand outside
of your home. As you approach
the
front door, what is your
impression of the property?
Do the lawn
and bushes look neatly manicured?
Is the address clearly visible?
Are pretty flowers or plants
framing the entrance? Is
the walkway free from cracks
and
impediments?
8
Reasons Why You Should
Work
With a REALTOR®
Not
all real estate practitioners
are REALTORS®.
The term REALTOR® is
a registered trademark that
identifies a real estate professional
who is a member of the NATIONAL
ASSOCIATION of REALTORS® and
subscribes to its strict Code
of Ethics. Here are five reasons
why it pays to work with a REALTOR®.
1.
Navigate a complicated process.
Buying or selling a home usually
requires disclosure forms, inspection
reports, mortgage documents,
insurance policies, deeds, and
multipage settlement statements.
A knowledgeable expert will
help you prepare the best deal,
and avoid delays or costly mistakes.
2.
Information and opinions.
REALTORS® can
provide local community information
on utilities, zoning, schools,
and more. They’ll
also be able to provide objective
information about each property.
A professional will be able
to help you answer these two
important questions: Will the
property provide the environment
I want for a home or investment?
Second, will the property have
resale value when I am ready
to sell?
3.
Help finding the best property
out there. Sometimes the
property you are seeking is
available
but not actively advertised
in the market, and it will
take some investigation by
your REALTOR® to
find all available properties.
4.
Negotiating skills. There are
many negotiating factors, including
but not limited to price, financing,
terms, date of possession, and
inclusion or exclusion of repairs,
furnishings, or equipment. In
addition, the purchase agreement
should provide a period of time
for you to complete appropriate
inspections and investigations
of the property before you are
bound to complete the purchase.
Your agent can advise you as
to which investigations and
inspections are recommended
or required.
5.
Property marketing power.
Real estate doesn’t
sell due to advertising alone.
In fact, a large share of real
estate sales comes as the result
of a practitioner’s
contacts through previous clients,
referrals, friends, and family.
When a property is marketed
with the help of a REALTOR®,
you do not have to allow strangers
into your home. Your REALTOR® will
generally prescreen and accompany
qualified prospects through
your property.
6.
Someone who speaks the language.
If you don’t
know a CMA from a PUD, you can
understand why it’s
important to work with a professional
who is immersed in the industry
and knows the real estate language.
7.
Experience. Most people buy
and sell only a few homes
in a lifetime, usually with
quite
a few years in between each
purchase. Even if you have
done it before, laws and
regulations
change. REALTORS®,
on the other hand, handle
hundreds of real estate
transactions
over the course of their
career.
Having an expert on your
side is critical.
8.
Objective voice. A home often
symbolizes family, rest,
and security — it’s
not just four walls and a roof.
Because of this, homebuying
and selling can be an emotional
undertaking. And for most people,
a home is the biggest purchase
they’ll
every make. Having a concerned,
but objective, third party
helps you stay focused on both
the
emotional and financial issues
most important to you.
Forms
You’ll
Need to Sell Your Home
1.
Property disclosure form. This
form requires you to reveal
all known defects to your property.
Check with your state government
to see if there is a special
form required in your state.
2.
Purchasers access to premises
agreement. This agreement sets
conditions for permitting the
buyer to enter your home for
activities such as measuring
for draperies before you move.
3.
Sales contract. The agreement
between you and the seller on
terms and conditions of sale.
Again, check with your state
real estate department to see
if there is a required form.
4.
Sales contract contingency
clauses. In addition to the
contract,
you may need to add one or
more attachments to the contract
to address special contingencies — such
as the buyer’s
need to sell a home before
purchasing yours.
5.
Pre- and post-occupancy agreements.
Unless you’re
planning on moving out and the
buyer moving in on the day of
closing, you’ll
need an agreement on the terms
and costs of occupancy once
the sale closes.
6.
Lead-based paint disclosure
pamphlet. If your home was built
before 1978, you must provide
the pamphlet to all sellers.
You must also have buyers sign
a statement indicating they
received the pamphlet.
Open
House Safety Tips
An
open house can be a great sales
tool, but it also exposes you
to numerous unfamiliar people
for the first time. Stay safe
by practicing these guidelines.
- Call
the local police department
and ask them to have a
squad
care drive by during your
open-house hours.
- Check
your cell phone’s
strength and signal prior
to
the open house. Have emergency
numbers programmed on
speed
dial. Carry an extra,
fully
charged cell phone battery.
- Determine
several “escape” routes
that you can use in case
of
an emergency. Make sure
all
deadbolt locks are unlocked
to facilitate a faster
escape.
- Turn
on the lights and open the curtains. These are not only sound safety
procedures, but also great
marketing tactics.
- Make
sure that if you were to
escape by the back door,
you could
escape from the backyard.
Frequently, high fences
surround yards that
contain swimming pools
or hot tubs.
- When
prospective buyers begin to arrive, jot down their car descriptions,
license numbers and physical
descriptions.
- When
showing the house, always
walk behind the prospect.
Direct
them; don’t
lead them. Say, for example, “The
kitchen is on your left,” and
gesture for
them to go ahead
of you.
- Notify
a friend or
a relative that
you will be calling in
every
hour on the
hour. And if you
don’t
call, they are to notify
the
police immediately.
- Inform
a neighbor that you will
be showing the house and
ask if
he or she would keep an
eye and ear open for anything
out
of the ordinary.
Source:
National Association of
REALTORS® Safety
Week kit
How
to Get an Offer on Your Home
1.
Price it right. Set a price
at the lower end of your
property’s
realistic price range.
2.
Prepare for visitors. Get your
house market ready at least
two weeks before you begin showing
it.
3.
Be flexible about showings.
It’s
often disruptive to have a house
ready to show at the spur of
the moment. But the more amenable
you can be about letting people
see your home, the sooner you’ll
find a buyer.
4.
Anticipate the offers. Decide
in advance what price and
terms you’ll
find acceptable.
5.
Don’t
refuse to drop the price.
If your home has been on
the market
for more than 30 days without
an offer, you should be
prepared to at least consider
lowering
your asking price.
Simple
Tips for Better Home Showings
1.
Remove clutter and clear
off counters. Throw out stacks
of
newspapers and magazines
and stow away most of your
small
decorative items. Put excess
furniture in storage, and
remove out-of-season clothing
items
that are cramping closet
space. Don’t
forget to clean out the garage,
too.
2.
Wash your windows and screens.
This will help get more light
into the interior of the home.
3.
Keep everything extra clean.
A clean house will make a
strong first impression and
send a
message to buyers that the
home has been well-cared
for. Wash
fingerprints from light switch
plates, mop and wax floors,
and clean the stove and refrigerator.
Polish your doorknobs and
address numbers. It’s
worth hiring a cleaning
service
if you can afford it.
4.
Get rid of smells. Clean carpeting
and drapes to eliminate cooking
odors, smoke, and pet smells.
Open the windows to air out
the house. Potpourri or scented
candles will help.
5.
Brighten your rooms. Put higher
wattage bulbs in light fixtures
to brighten up rooms and basements.
Replace any burned-out bulbs
in closets. Clean the walls,
or better yet, brush on a fresh
coat of neutral color paint.
6.
Don’t
disregard minor repairs. Small
problems such as sticky doors,
torn screens, cracked caulking,
or a dripping faucet may seem
trivial, but they’ll
give buyers the impression that
the house isn’t
well-maintained.
7.
Tidy your yard. Cut the grass,
rake the leaves, add new mulch,
trim the bushes, edge the walkways,
and clean the gutters. For added
curb appeal, place a pot of
bright flowers near the entryway.
8.
Patch holes. Repair any holes
in your driveway and reapply
sealant, if applicable.
9.
Add a touch of color in the
living room. A colored afghan
or throw on the couch will jazz
up a dull room. Buy new accent
pillows for the sofa.
10.
Buy a flowering plant and put
it near a window you pass by
frequently.
11.
Make centerpieces for your tables.
Use brightly colored fruit or
flowers.
12.
Set the scene. Set the table
with fancy dishes and candles,
and create other vignettes throughout
the home to help buyers picture
living there. For example, in
the basement you might display
a chess game in progress.
13.
Replace heavy curtains with
sheer ones that let in more
light. Show off the view if
you have one.
14.
Accentuate the fireplace.
Lay fresh logs in the fireplace
or put a basket of flowers
there
if it’s
not in use.
15.
Make the bathrooms feel luxurious.
Put away those old towels and
toothbrushes. When buyers enter
your bathroom, they should feel
pampered. Add a new shower curtain,
new towels, and fancy guest
soaps. Make sure your personal
toiletry items are out of sight.
16.
Send your pets to a neighbor
or take them outside. If
that’s
not possible, crate them or
confine them to one room (ideally
in the basement), and let the
real estate practitioner know
where they’ll
be to eliminate surprises.
17.
Lock up valuables, jewelry,
and money. While a real estate
salesperson will be on site
during the showing or open
house, it’s
impossible to watch everyone
all the time.
18.
Leave the home. It’s
usually best if the sellers
are not at home. It’s
awkward for prospective buyers
to look in your closets and
express their opinions of your
home with you there.
Low-Cost
Ways to Spruce Up Your
Home’s
Exterior
Make
your home more appealing for
yourself and potential buyers
with these quick and easy tips:
1.
Trim bushes so they don’t
block windows or architectural
details.
2.
Mow your lawn, and turn on the
sprinklers for 30 minutes before
the showing to make the lawn
sparkle.
3.
Put a pot of bright flowers
(or a small evergreen in winter)
on your porch.
4.
Install new doorknobs on your
front door.
5.
Repair any cracks in the driveway.
6.
Edge the grass around walkways
and trees.
7.
Keep your garden tools and hoses
out of sight.
8.
Clear toys from the lawn.
9.
Buy a new mailbox.
10.
Upgrade your outside lighting.
11.
Buy a new doormat for the outside
of your front door.
12.
Clean your windows, inside and
outside.
13.
Polish or replace your house
numbers.
14.
Place a seasonal wreath on your
door.
Is
Your Buyer Qualified?
Unless
the buyer who makes an offer
on your home has the resources
to qualify for a mortgage,
you may not really have a
sale.
If possible, try to determine
a buyer’s
financial status before
signing the contract. Ask
the following:
1.
Has the buyer been prequalified
or preapproved (even better)
for a mortgage? Such buyers
will be in a much better position
to obtain a mortgage promptly.
2.
Does the buyer have enough
money to make a downpayment
and cover
closing costs? Ideally, a
buyer should have 20 percent
of the
home’s
price as a downpayment and
between 2 and 7 percent
of the price
to cover closing costs.
3.
Is the buyer’s
income sufficient to afford
your home? Ideally, buyers
should spend no more than
28 percent
of total income to cover
PITI (principal, interest,
taxes,
and insurance).
4.
Does your buyer have good credit?
Ask if he or she has reviewed
and corrected a credit report.
5.
Does the buyer have too much
debt? If a buyer owes a great
deal on car payments, credit
cards, etc., he or she may not
qualify for a mortgage.
How
to Prepare for the Open House
- Advertise
your open house. Ideally
you should advertise both
the weekend
before and the weekend of
the open house. Check with
the local
paper to see when their ad
closing deadlines are.
- Create
a property summary sheet.
This sheet gives prospective
buyers
an overview of your
home.
Include dimensions for
each
room, copies
of a property survey,
summaries
of utility costs and
property
taxes, and a list of
when
capital items such as
roofs
and furnace
were added.
- Develop
a sign-in form for prospects’ addresses.
You’ll
ideally want both phone
numbers
and e-mail addresses
to follow
up with prospective buyers.
- Put
up signs. One or two
days
before the open house,
place
directional
signs at major intersections
within three to four blocks
of your house. Be sure
you
check on anti-sign regulations
in
your area.
- Get
your house ready. Remove
clutter, clean your house,
wash your
windows, add flowers,
turn
on lights, open draperies
and blinds,
remove valuables and breakables,
confine pets, turn on
soft
music, and set up a table
for your
property fact sheet near
the entrance.
- Develop
a follow-up sheet. Getting
feedback on your home
from
prospects
who attended your open
house
will give you a better
understanding
of how to make your home
more appealing to buyers.
Prepare
Your Home for a Virtual Tour
With
more buyers shopping for homes
on the Web, photos and virtual
tours are a must. There are
many things you can do make
your home shine on camera.
1.
Understand the camera’s
perspective. The camera’s
eye is very different from
the human eye. It magnifies
clutter
and poor furniture arrangement.
To make a home shine in a virtual
tour or video presentation,
cater to the lens.
2.
Make the home “Q-tip
clean.” Because
the camera magnifies grime,
each room must be spotless.
Don’t
forget floor coverings and
walls; a discolored spot on
the rug
might be overlooked by prospects
during a regular home showing,
but that stain becomes a focal
point for online viewers.
3.
Pack up the clutter. But leave
three items of varying heights
on each surface. For example,
on an end table you can place
a lamp (high), a small plant
(medium), and a book (low).
4.
Snap pictures. This will
give you an idea of what the
home
will look like on camera.
Closely examine the photos
and list
changes that would improve
each room’s
appearance: opening blinds
to let in natural light,
removing
magnets from the refrigerator,
or taking down distracting
art.
5.
Pare down furniture. Identify
one or two pieces of furniture
that can be removed from each
room to make the space appear
larger.
6.
Rearrange. Spotlight the flow
of a space by creating a focal
point on the furthest wall from
the doorway and arranging the
other pieces of furniture to
make a triangle shape. The focal
point may be a bed in a bedroom
or a china cabinet in a dining
room.
7.
Reaccessorize. Include a healthy
plant in every room; the camera
loves green. Energize bland
decor by placing a bright vase
on a mantle or draping an afghan
over a couch.
8.
Keep the home in shape. You
want buyers who liked what they
saw online to encounter the
same home in person.
Source:
Barb Schwarz, www.StagedHomes.com,
Concord, Pa.
Tips
for Pricing Your Home
- Consider
comparables. What have other
homes in your neighborhood
sold for recently? How do
they compare
to yours in terms of size,
upkeep, and amenities?
- Consider
competition. How many
other
houses are for sale
in your
area? Are you competing
against
new homes?
- Consider
your contingencies. Do you have
special concerns that would
affect the price you’ll
receive? For example, do
you
want to be able to move
in four months?
- Get
an appraisal. For a few hundred
dollars, a qualified appraiser
can give you an estimate of
your home’s
value. Be sure to ask for a
market-value appraisal. To locate
appraisers in your area, contact
The Appraisal Institute (www.appraisalinstitute.org)
or ask your REALTOR® for
some recommendations.
- Ask
a lender. Since most buyers
will need a mortgage, it’s
important that a home’s
sale price be in line
with a lender’s
estimate of its value.
- Be
accurate. Studies show
that
homes priced more than
3 percent over the correct
price
take
longer to sell.
- Know
what you’ll
take. It’s
critical to know what price
you’ll
accept before beginning
a negotiation
with a buyer.
Understand
Agency Relationships
It’s
important to understand what
legal responsibilities your
real estate salesperson has
to you and to other parties
in the transaction. Ask what
type of agency relationship
your agent has with you:
Seller's
representative (also known as
a listing agent or seller's
agent)
A
seller's agent is hired by and
represents the seller. All fiduciary
duties are owed to the seller.
The agency relationship usually
is created by a listing contract.
Buyer's
representative (also
known
as a buyer’s
agent)
A
buyer’s
agent is hired by prospective
buyers to represent them in
a real estate transaction. The
buyer's rep works in the buyer's
best interest throughout the
transaction and owes fiduciary
duties to the buyer. The buyer
can pay the licensee directly
through a negotiated fee, or
the buyer's rep may be paid
by the seller or through a commission
split with the seller’s
agent.
Subagent
A
subagent owes the same fiduciary duties to the agent's customer
as the agent does. Subagency usually arises when a cooperating
sales associate from another brokerage, who is not the
buyer’s
agent, shows property to a buyer. In such a case, the
subagent works with the buyer as a customer but owes fiduciary
duties to the listing broker and the seller. Although a
subagent cannot assist the buyer in any way that would
be detrimental to the seller, a buyer-customer can expect
to be treated honestly by the subagent. It is important
that subagents fully explain their duties to buyers.
Disclosed
dual agent
Dual
agency is a relationship in
which the brokerage firm represents
both the buyer and the seller
in the same real estate transaction.
Dual agency relationships do
not carry with them all of the
traditional fiduciary duties
to clients. Instead, dual agents
owe limited fiduciary duties.
Because of the potential for
conflicts of interest in a dual-agency
relationship, it's vital that
all parties give their informed
consent. In many states, this
consent must be in writing.
Disclosed dual agency, in which
both the buyer and the seller
are told that the agent is representing
both of them, is legal in most
states.
Designated
agent (also called appointed
agent)
This
is a brokerage practice that
allows the managing broker to
designate which licensees in
the brokerage will act as an
agent of the seller and which
will act as an agent of the
buyer. Designated agency avoids
the problem of creating a dual-agency
relationship for licensees at
the brokerage. The designated
agents give their clients full
representation, with all of
the attendant fiduciary duties.
The broker still has the responsibility
of supervising both groups of
licensees.
Nonagency
relationship (called, among
other things, a transaction
broker or facilitator)
Some
states permit a real estate
licensee to have a type of nonagency
relationship with a consumer.
These relationships vary considerably
from state to state, both as
to the duties owed to the consumer
and the name used to describe
them. Very generally, the duties
owed to the consumer in a nonagency
relationship are less than the
complete, traditional fiduciary
duties of an agency relationship.
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