Helpful Hints

In order to sell your home you must make it attractive to both potential buyers as well as Realtors with potential buyers for clients. Interestingly, most sellers do not take Realtors into consideration when attempting to market their home. The fact is if you can successfully attract a large number of Realtor's to your home those Realtor's will be bringing with them all of their clients that they are currently working with. When you attract Realtor's to your home the number of potential buyers seeing your home exponentially increases and as a result so does your chances of selling your home.

The following are a few ways to attract a large number of Realtor's to your home:

• Commission
  • Commission rates depend largely on the specific region. In Omaha commission rates range anywhere from 5% to 10%. A 7% commission rate is standard and anything over that will attract a large number of Realtor's.
• Buyer's agent bonus
  • If you are highly motivated to sell your property along with a high commission rate you should also offer a bonus to Realtor who represents the buyer in the transaction. When you agree to a 7% commission rate with your Realtor that money is then split four ways after the sale with your Realtor's Broker, the buyer's Realtor and the buyer's Realtor's Broker. When you offer a bonus for the buyer's Realtor it is only split two ways with the buyer's Realtor and the buyer's Realtor's Broker.
• Direct email and flyers
  • Hiring a Realtor from a large real estate company has it's benefits. One of which is the fact that they have direct access to possibly of hundreds of other Realtor's with potential buyers for clients. Your Realtor will be able to email information about your house directly to every Realtor within their company. They will also be able to personally drop off flyer's and information packet's in the work mailboxes of every other Realtor within their company. In some large real estate companies Realtor's are paid at a higher rate from their Broker if they do business with other Realtor's from their own company so there is a motivation to show houses listed by Realtor's from the same company.

Now that you know how to attract Realtor's to your house you need to be able to make your house valuable to potential buyers. Here are a few ways to help you make your house more attractive to buyers:

• Seller Down Payment Assistance Program
  • In today's mortgage market buyer's best option for a home loan under $200,000 is through the FHA. FHA, however requires at least a 3% down payment in order to qualify. Home buyers are no longer able to obtain no down payment financing and as a result the number of people able to buy a home has gone down. Offering seller down payment assistance increases the number of potential buyers available to your house. Seller's will usually offer a percentage of the total sales price as the down payment. The down payment is also recognized as a donation to a non profit organization and there fore is eligible to be tax deductible.
• Pre-Sale Inspection
  • Typically a buyer will pay for a home inspection after a purchase agreement has been signed by both parties. Offering a pre-sale inspection both relieves buyer's of that extra cost and offers assurances to buyer's that no unforeseen issues will pop up after a purchase agreement is signed.
• Home Warranty
  • A home warranty is a type of insurance that can be purchased by either a buyer or seller. The insurance is good usually for a set period of time after the sale and covers set aspects of a house. It is redeemable with a paid deductible.
• Allowances
  • Allowances are usually made by a seller when it is known that there is a problem with the house but the seller does not have the time or money to fix it before the buyer takes possession. Money for the allowance is escrowed out of the seller's proceeds and made available to the buyer after closing for the specific designated purpose.
• Pay Closing Costs
  • Closing costs for a buyer can range anywhere from 5% to 7% of the sales price of a house. Closing costs, like a down payment, is another set of costs that make it difficult for buyers without much cash on hand to purchase a home. Offering to pay closing costs will attract more potential buyers to your house.
• Curb Appeal
  • When a potential buyer drives up to your house the first impression is formed at that time. It is important to make that first impression a good one. Keep your lawn mowed and trimmed. All flower beds should be weeded. The exterior of your house should be clean and a fresh coat of paint gives it a new and clean feel.
• Reduce Clutter / Staging
  • A house should be cleaned and clutter should be reduced. Remove all personalized items not essential to daily life. Ensure closets are neat and clean. Bathrooms and kitchens should be spotless. Seek advice from your Realtor or a professional decorator as to how to improve the look of your house.
• Repair Damages
  • If you know something is broken and do have some time and money to take care of it, do so. Buyer's don't want to look at a house and add up all the of the things that will need to be fixed before they even move in.
• Smell / Sound
  • Your house should smell good. If your house smells like smoke consider repainting or removing carpets. Light some candles and play some calm, relaxing music for showings to create a pleasant atmosphere.

MikeKnowsOmaha can help you with all of your Omaha Real Estate needs.