1127 Judson Rd Suite 146
Longview TX 75601
Office: 903.757.2111
Mobile: 903.235.7339
Fax: 903.757.3031

Suzanne Cook & Company

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5 Important Lessons Learned about selling a home

These are few important lessons to remember as you prepare to sell your home


SELLER LESSON #1:
Buyers want to see and agents want to show houses that are good buys

FACT: A buyer is more likely to make a full-priced offer on a home that is priced right, before making a low offer on a home that's priced too high.

Houses that remain on the market a long time tend not to be shown. 


SELLER LESSON #2:
Be willing to make smart investments in important aesthetic elements of your home.

A good first impression can influence whether a buyer writes an offer or not. For example: invest in landscaping - curb appeal matters.

• Fix things that could be considered "red flags" (i.e. leaks)

• Invest in important aesthetic updates (i.e. painting, floors, minor kitchen and bath
   updates, etc.). Your return should be at least double the expense. 


SELLER LESSON #3:
Your cost or profit desire is irrelevant. The market determines the price.

• It is very difficult for a seller to evaluate their home objectively. In a balanced
   market (like today), it is important to determine the fair market price of your home
   given it's location and condition relative to other properties currently active.
   Historical comparables are much less relevant since the market has cooled.

• Assume the buyer is educated & saavy and has done their research 


SELLER LESSION #4:
Houses that are marketed well - Move fastest and garner the most money

• Open houses rarely sell houses - they generate interest/buzz when first listed.
   However, 95% of homes are sold as the result of an agent or buyer inquiry thru
   the internet. It is better to have a few qualified buyers touring your home than
   large numbers of random people, most of whom are not actively house-hunting.

• Networking with agents and advertising via the internet and targeted print
   publications has proven to yield the best results. 


SELLER LESSON #5:
Know your bottom line and communicate it honestly to your agent.

• Your agent is on your side so communicate your "bottom line" price upfront.
   Although this figure should NEVER be disclosed externally, it is important
   information that your agent will use to determine an optimal pricing strategy and
   negotiating position.

• Even though you should consider all offers and take into consideration the total
   terms of each (i.e. price, settlement date, contingencies, etc.) knowing your
   bottom line saves time by eliminating low-ball offers and enables your agent to
   determine the best negotiating strategy to get what you want. 



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Kerrie Medlin (All Updates)