Michael Emilio » Seller Tips

What You Should Always Do as a Real Estate Agent

Michael Emilio — Tue, 01 Jul 2008 04:36:35 +0000

After reading my previous post on What You Should Never Do as a Real Estate Agent, it’s time for the flipside – what you should always do!

When I started out I never had a written step-by-step action plan of what to do as an agent. You study for your test, you get certified as a Realtor, you get your license and then get shoved out the door with a “Go Get ‘Em Tiger!” Meanwhile, you’re looking out at other agents getting massive success as an agent and you think, “Why are they successful and I’m here with absolutely no clue what I’m doing?”

It’s an interesting question – why are some real estate agents successful and some can’t even get an appointment with a client? It comes down to two things: knowledge and action. Knowledge of what to do in every situation. Knowledge of the laws you must follow. Knowledge of what to say to clients. Knowledge of negotiation tactics.

Perhaps even more important that knowledge is action. After all, knowledge isn’t really power; knowledge is only potential power. The actual definition of power is the ability or capacity to perform or act effectively. So if you want the power of knowledge, you have to put what you’ve learned into action!

By giving you this list of what to do (and my previous list of what not to do) this is going to give a solid base of good practices for a real estate agent, especially for rookie agents out there lost. Of course, there’s way more to learn – from getting real estate leads, to closing a client, to getting referrals, to advertising yourself and your listings, to getting yourself a real estate team, including real estate assistants, buyers agents, and listing agents on your team.

When Showing a Home

Always return any appointment phone calls promptly.

Always become acquainted with the property before you show it.

Always be prompt and arrive on time to showing appointments.

Always call the other party if you will be delayed or if the appointment will be canceled.

Always follow any instructions given to you by the seller when showing your listing and making appointments.

Always qualify the buyer before showing the home.

Always use the sidewalk.

Always wait outside if another agent is showing the property when you arrive.

Always report any odd odors, broken windows, broken locks, etc to the listing office.

Always inform the other agent if there is any inaccurate information on the listing.

Always leave your business card.

Always close all drapes and/or blinds which were closed on your arrival.

Always turn off all lights not on at your arrival.

Always lock all exterior doors before leaving.

When Dealing With Contracts

Always present all offers you’ve received to the sellers in that same order you’ve received them.

Always invite the selling agent to be present when presenting the offer to the sellers.

Always encourage the sellers to put any counter or rejection offers in writing.

Always specify in writing exactly what will stay with the property.

Always prepare qualifying information for the listing agent.

Always verify that the buyer has applied for the loan.

Always keep track of the time for a loan commitment and extend the loan commitment date before the time runs out and the contract is void.

Always notify the listing agent once the loan has been approved.

Always remember that the listing agent presents the offer.

Always allow privacy for the listing agent and the seller to discuss the terms of the offer.

Always use the most current version of the contract and fill out all required fields.

Always include all license numbers on the contract.

Always provide enough copies of the contract for all parties.

Always leave a copy of the contract and forms with the buyers and sellers when signatures or initials are obtained.

Always have any changes to the offer initialed by the parties.

Always provide copies of the final contract once all signatures are obtained and contract has been finalized.

When Courtesy Counts

Always call other real estate agents during normal business hours if possible.

Always respect other real estate agent’s family time in the mornings and evenings.

Always identify yourself immediately as a real estate agent and/or Realtor when calling an agent or when scheduling showing appointments.

Always leave a clear message with the information you desire on an agent’s voicemail so the agent can return your call with the required information ready.

Always sound out your phone number slowly on the voicemail, repeating your name and phone number twice.

Always respond promptly to all inquiries.

Always give out explicit directions with the street name and number.

Always fill out the MLS listing form with every detail possible.

Always have access to the listing property with key and showing instructions.

Always return keys to the listing office on a prompt basis if you’ve borrowed them.

Always contact the agent or broker if there is a conflict on procuring cause or selling commission.

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What You Should Never Do as a Real Estate Agent

Michael Emilio — Tue, 17 Jun 2008 01:27:36 +0000

It’s hard for young and beginning real estate agents just starting their careers. You have all these rules, regulations, laws, and bylaws. You’re expected to know these laws back and front. On top of this, you’re expected to be an expert on the local real estate market (by knowing prices of recently sold properties in the general) and an understanding of national real estate trends. If that wasn’t enough, you have to be a master in contract negotiation, knowing the details of contract terms and price points. Phew – that’s a lot of stuff you gotta know!

Yet a lot of people jump into the real estate agent career field without really thinking about all these things! Guess what – I did the same thing when I started! But, over time, I’ve really immersed myself in learning- every single day – more and more about real estate. I’ve learned about the South Florida real estate market, including networking with Miami real estate agents, brokers, and realties. I’ve dug my eyes into massive amounts of real estate books, from books on real estate investing to books on being a better realtor.

So, for those entering the real estate agent game, I’m giving you my run-down of the most important things you should not ever do as an agent. When I say never, I mean never. These are things that are unfortunately sometimes common in the industry by real estate rookies but it’s up to the real estate veterans out there to help each other out – if you see another agent committing some sort of violation point it out to them immediately! If you know of an agent just starting his or her real estate career, send them a link to this article so they can read on what not to do.

If you’re a consumer, there’s some great tips in here for you too – common courtesy is universal! If you’ve hired a real estate agent to represent you then you’re going to want to read this so you know if your agent is on the up-and-up or is misrepresenting you in some way. Remember that anyone practicing real estate must be licensed!

This being said, enjoy my compilation of top things you should never do as a real estate agent – the biggest no-no’s and major mistakes. I’m also in the process of compiling the top things a real estate agent should always do – that’s coming up next!

When Following the Law

Never place For Sale, For Rent, or Open House signs on the street right-of-way.
Never put up a sign without putting your realty’s company name on there.
Never do false advertising.
Never practice real estate without a license – it’s a felony.

When Showing a Home

Never discuss the price when in front of the seller.
Never speak negatively about the property and criticize it while in the vicinity of the current occupant.
Never forget to call and/or cancel your appointment if you know you’re going to be late or can’t make the appointment.
Never speak about the terms of the contract with the seller at the initial showing.
Never permit young children to wander around the property unattended.
Never move around and rearrange the furniture without returning it to the original condition.
Never smoke nor allow anyone else to smoke in the property.
Never leave any doors or windows unlocked and/or open.
Never leave your trash and junk in the property.
Never attempt to contact the seller unless you’e been authorized to do so.

When Dealing with Contracts

Never tell another real estate agent or realtor that the property in question is “under contract” unless all of the signatures of the necessary parties have been recorded.
Never change the contract yourself without approval.
Never hold on showing an offer to purchase to your client because you’re waiting for a better offer.
Never hold on showing an offer to purchase because it’s more convenient for you to wait until later.
Never pursue asking for the amount when a real estate agent calls with an offer on the property.
Never tell another real estate agent outside of the agents involved of any details of an offer to purchase before closing.

When Courtesy Counts

Never say that you have an offer to purchase unless you have that offer in writing.
Never forget to contact the seller to make an appointment for another real estate agent if showing is through the listing agent.
Never mention any type of conflict between brokers and agents to buyers and sellers.
Never interrupt another real estate agent when that agent is showing the property.
Never offer the property at a price or terms that the seller has not outlined for you in writing.
Never contact or communicate with the client of a co-broker unless authorized.
Never speak negatively about the business practices of another real estate agent or real estate firm.
Never provide any comments or opinions about another real estate agent’s transactions or listings.
Never let the lock box key out of your possession.
Never solicit a future listing on a listing that’s currently listed, no matter the relationship you may have with the parties, even if they’re close friends or relatives.

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Foreclosure Countdown: The Foreclosure Process Step-By-Step

Michael Emilio — Tue, 13 May 2008 17:00:02 +0000

Foreclosure is, unfortunately, a major part of the current real estate experience. It is happening at an alarming rate – more than 405,000 households were foreclosed upon in 2007, up 51% from the amount repossessed in 2006.

I just received an email from one of my readers named Rik who’s asking about foreclosure home auctions and the foreclosure timeline – let’s read:

Hi Michael,

Once your home is sold at a Public Auction by the bank, how long do you have to vacate the property?

Rik

Every state in the United States has their own guidelines, timeframes, and mandates. It usually takes around 2-3 months for your home to get repossessed – however, if you take certain legal action to postpone the proceedings it may take even longer.

Step One: Notice of Default

First step in the foreclosure process is the notice of default. This is a notification that will be sent to you stating that you haven’t made your payments by the deadline. It’ll say that if the money you owe isn’t paid by the time they give you, the lender may foreclose on your home. Others that may be affected may also be getting a copy of this notice as well.

Step Two: The Lis Pendens

Now the heavy duty foreclosure action starts happening. The lis pendens, which is Latin for “suit pending” and often abbreviated as lis pend, represents the first real legal action against you by the lending bank. It is a written notice that the lender has filed a lawsuit against you on your house and demands payment of your loan immediately. If you wanted to sell your home before foreclosure, it is best for you to do this before the lis pendens, because now a potential purchaser can see that this has been filed against you in the public records, making your property less desirable to potential buyers. The reason for the lower desirability is that if someone buys your home after the lis pendens has been served, they are now subject to the decision of the lawsuit. It also makes you much less likely to be able to borrow money secured by the property (for example if you wanted to borrow money to pay legal costs) as lenders will be wary of your lis pendens property.

Step Three: Answer

At this point, you have 20 days to file an answer with the court. My recommendation? Get yourself a reputable attorney in your area with experience to do this for you. There’s a great legal community over at the international law forums that may also give you solid advice. The general idea of what will happen in this step if you need more time is that you will contact the other attorney, let them know you are retaining counsel, and that you ask for a short extension of time to respond to the complaint. Follow this up in writing as you need written proof.

You must answer this complaint filed against you within the allotted time frame given to you (usually 20 days). Otherwise, a default judgment will be given against you which can mean major future financial hardships. Your lawyer will then write them a letter either admitting, denying, or stating you don’t have the sufficient information to answer a section of the complaint. Many times, contacting the lender’s attorney and telling them, “We Deny the Complaint” may buy you some time.

Step Four: The Hearing

This is where you and your lawyer will present your case and the presiding judge will decide the next step. If there is a valid answer as to why you haven’t made your payments on time, the judge may decide the lender must give you reasonable time to make your payment. Otherwise, the foreclosure moves forward, with the mortgage lender’s legal counsel filing a motion for a Summary Judgment Hearing.

The scheduling of the hearing is often delayed, giving you previous time to get your affairs in order – possibly giving you enough time to execute a short sale (which is when your lender agrees to letting you sell the mortgaged property for less than the outstanding balance of the loan).

Step Five: The Summary Judgment Hearing

This usually happens 45 days from the start of the foreclosure process. The mortage loan lender’s attorney will present the case and you or your attorney can give testimony. Usually, the judge will rule against you and you will be found in default of the mortgage. You will receive a Summary Final Judgment that shows exactly how much you owe the lender, including the loan principal, loan interest, and legal fees.

Step Six: Foreclosure Auction

The judge will know set a sale date for the foreclosure auction of your home, which is often 30-45 days after the Summary Judgment Hearing. Your property will now be sold at the county courthouse steps to any interested real estate investors or homeowners. At this point, you cannot redeem your property – the sale is final. You now have absolutely no chance to save your home and pay off your mortgage. Once the sale occurs, the court will review the sale during the next 10 days to make sure everything has been followed correctly procedurally. Once the auctioned property is certified, the Certificate of Sale is now filed and the title to your home is given to the new homeowner. If no one bids on your property, it then goes back to the ownership of the lender as a REO (Real Estate Owned by the plaintiff).

Step Seven: Sheriff

This is usually 14-30 days from the date of the sale of your home at auction – you will be notified how much time you have to leave your home. At this point, if you still haven’t vacated the premises, the new property owners will have already started the eviction process and the sheriff will arrive at your doorstop and will force you to take you and your possessions outside. You are now not legally able to enter your home – you will be charged with trespassing.

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How to Choose The Right Closing Date

Michael Emilio — Mon, 05 May 2008 18:00:34 +0000

Closing dates are one of the most stressful dates for any real estate deal – this is the meeting when you complete the real estate transaction and contracts are signed, transferring ownership of the real estate in question.

Not only are there so many important items to take care of during the weeks leading up to your closing but the closing itself brings its own brand of heavy stress. It’s during times of high stress that we make mistakes – and a mistake at the closing table can mean huge money you could be losing in the future – in the form of lawsuits or wasted time.

When to have the closing

I know there’s urgent events going on in your life. You may be moving and you’re trying to get that taken care of. Maybe you have tons of business items you need to get a hold of. However, I want you to want to pick a closing date that’s convenient to the lender. Yes, that’s right, think about the lender. More importantly, think about the good it’ll do for you having a date that’s convenient for the lender. If you choose a date and time where the lender won’t be as busy as usual, you’re going to save massive amounts of time and massive amounts of money that you would’ve spent on aspirin from the headaches you would’ve had.

Days: Pick Tuesday, Wednesday or Thursday. This is going to assure you get the top closing agent – plus you’re going into the office at non-peak hours so they won’t be in as much of a rush to get it done and get you out. On top of that, the usual lender closing agent may have taken that Friday or Monday off so you may get a second-tier closing agent – and you only want the best for your transaction.

Weeks: Pick your closing date to land on the 2nd or 3rd week of the month. You definitely do not want to set it for the 15th of the month either. This time of the month is non-peak so you and your file will get more attention, usually assuring your closing will be done on time.

Time: Choose from 11am to 3pm EST, especially if the parties may be on opposite sides of the country. This assures all items and packages have been received by all parties and gives some room for any unforeseen items that need to be transferred.

Get your inspection done early: As a buyer, you’re going to want your inspection done early to avoid any problems later on. TIP: Write down serial numbers of all major appliances (refrigerators, washers, dryers, etc). The reason I recommend you do this is that I’ve seen some sellers try to switch appliances after the inspection for older, broken down models – and you have no proof they did this. Sometimes they try to get real smart and switch it for the same model, just a broken version they had in a shack someplace. When you have that serial number at hand, you can feel secure you have written proof.

The importance of following the right closing procedures

If you’re a buyer, you’re under contract with a seller, not a lender. The lender has no responsibility to you to close the loan on the date you want. If you’re not the persistent type, you’re going to have to learn new skills. I’ve seen so many lenders try to push dates around. You want to keep in constant contact with the loan officer – call them every few days. Make sure the loan officer has your closing documents all nice and done. Keep reminding them to keep your closing file on top of their pile – you want them to give you the attention you deserve. It often helps to tell the loan officer you’ll likely close a day early – this may give your file special attention.

Most importantly of all, when looking for a lender, you want a lender that’s known for quality service and that is known to keep their commitments when it comes to the closing date. A lot of the tips I’ve given you won’t even need to be used with a top-notch closing company because they do all the heavy lifting and it’s a dream experience for you. Don’t focus so much on saving a little money and focus on getting a quality loan officer on your team. Keep your sanity and get yourself a top-notch lender!

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Foreclosure: House Sells For Less Than What is Owed at an Auction

Michael Emilio — Tue, 18 Mar 2008 21:00:12 +0000

I’ve decided to reach into the MichaelEmilio.com mailbag and pull out an email a reader sent in reading foreclosures. Let’s read the email:

“i was wandering in the foreclosure process when the house is sold at public auction and sells for less than what is owed, say i owe 120000 and they only sell it for 50000 what happens to the remaining balance can they garnish wages or take real property such as vehicles or no i am concearned” – Mike D.

So Mike D. wants to know about foreclosures, specifically what happens to the amount left over after a foreclosure sale. Let’s say he owes $120,000 on his house and the house is sold at a public auction for only $50,000. What happens to the money left over? What happens to that $70,000? Does the bank pay that shortfall? Does the original owner pay that amount? Does the new owner of the home pay the amount?

Bank is in control

In most cases, the bank has the power. The bank has the option to file a lawsuit against the original owner for the money that they could not collect at the foreclosure sale. In the hypothetical scenario that Mike D. brings up, the bank can have the ability to sue the former owner for that $70,000 they couldn’t collect at the auction. The bank is able to collect this money through collection actions and a court judgment.

You’re also going to want to look at your particular state’s code. Some mortgage contracts are worded without recourse, this means the sale is final, and the original owner owes nothing else. If the mortgage contract is worded with recourse they may go after the homeowner for the debt shortfall. California, among other states, usually do not allow recourse mortgages.

Keep in mind I’m not a tax attorney, so you’re going to want to set up an appointment with a tax lawyer in your area, but the former owner should know that will now have a tax liability on their hands. I know what you’re thinking, “I just lost my home and now I gotta pay the IRS?” Yes, unfortunately. That foreclosed debt you have of $120,000 that the bank sold at auction is now counted by the Internal Revenue Service as income. What this means to you is that you’re going to have a big chunk of change you’re going to have to pay as income taxes. Unfortunately, this can lead many people to bankruptcy especially when dealing with large mortgages. Put it this way, if someone can’t pay off a home, it’s going to be really hard for them to pay off that income tax they’ll have to pay the next year.

Truth of the foreclosure situation

The reality of the foreclosure situation in general is that the homeowner, while not at fault, does have the responsibility to pay the mortgage debt in full. If these payments aren’t met, then foreclosure happens. And if the foreclosure proceedings don’t provide the solution that the bank was looking for (auction where the house sells for the amount of debt owed) then the former owner is still responsible for that debt left over. The only way to get out of this tricky foreclosure situation is either file for bankruptcy or come to an agreement with the lender. This may allow you to discharge your debt – contact a reputable attorney for this.

On the bank’s side and point of view, note that they have a fiduciary responsibility to the former owner and investors to get as much money out of the sale of the home as possible. As a result, they can sometimes try way too hard! Owners, knowing that their property may go into foreclosure, stop maintaining their property and can often leave the house in bad condition, such as damaged appliances and damaged walls. Home then goes vacant, vandals come in, spray paint all over the walls and the home value plummets downwards.

If interested in buying foreclosed properties, keep in mind that banks don’t like selling foreclosed properties for a rock-bottom price unless they’re forced to. Banks often refuse to sell a home for a reasonable price offer. Then a few months later the house has major damage due to a hurricane and then sells a year later for much less than if they would’ve accepted that reasonable offer way back.

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How Short Sales Can Save You From Foreclosure

Michael Emilio — Sun, 19 Aug 2007 23:43:54 +0000

Facing foreclosure?

As bad as things can get, know that there is an option if you’re facing this situation.

It’s called a short sale.

With a short sale, you’ll be able to avoid foreclosure and save your credit from the heavy hit it would get normally under a foreclosure. You’ll be able to live in your house for free until you’re able to sell it and the lender will pay your closing costs. The lender will even pay your Realtor’s commissions in most cases too!

Keep in mind though, it’s not easy to sell your house through a short sale. A lot of steps need to be taken. But it can be done! You definitely need a solid team of professionals on your side to help through the situation.

In a short sale, the bank is accepting less than the total amount due on the loan. Not all lenders will accept this, but some will, so it pays to research this.

First, call up your lending institution. You’re going to have to have major persistence in this, because it may take you a while to get in touch with the person who handles short sales in the bank. Remember to get in touch with the actual decision-maker, not just the “short sale department”!

Prepare a hardship letter. This is YOUR plea to the lender to accept the short sale. Remember that the person reading this is a human just like you, with emotions. So make sure to appeal to their sympathy and be honest and upfront with why you couldn’t make those payments.

Prepare necessary paperwork. This can include your purchase agreement, listing agreement, copies of bank statements, proof of income, proof of assets, letter of authorization, and preliminary net sheet.

Have faith and persist in getting this handled. I know the situation is tough, so you need to keep on keeping on and persist in doing everything you can to get the situation right.

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5 Things to Do Before You Sell

Michael Emilio — Fri, 23 Mar 2007 12:21:26 +0000

1. Get estimates from a reliable repair person on items that need to be replaced soon, such as a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs.

2. Have a termite inspection to prove to buyers that the property is not infested.

3. Get a pre-sale home inspection so youâ€™ll be able to make repairs before buyers become concerned and cancel a contract.

4. Gather together warranties and guarantees on the furnace, appliances, and other items that will remain with the house.

5. Fill out a disclosure form provided by your sales associate. Take the time to be sure that you donâ€™t forget problems, however minor, that might create liability for you after the sale.

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Creating a Floor Plan To Help Plan Your Home’s Layout

Michael Emilio — Wed, 14 Mar 2007 13:14:16 +0000

When you are staging your home for a sale or you’re moving into a new home, decorating each room is an artistic endeavor. The walls and floor are the blank canvas and your furnishings and accessories serve as the "paint." While some individuals are graced with the natural talent for bringing it all together, the rest of us get the job done by trial and error or mimicking what we’ve seen somewhere.

Begin by drawing a floor plan to scale and measuring the furniture. Then determine your focal point, around which you will anchor your room arrangement. Some rooms have an architectural feature that could serve as a captivating focal point, such as a fireplace or a large window with a breathtaking view. A sculpture, piano, or other interesting element might also serve as the main attraction.

Once you’ve determined your starting point or main attraction, it’s particularly important that your floor plan takes into account how traffic flows into the room. To ensure that a room functions well, don’t crowd furniture together and be sure you have ample space around each piece. For the room’s main route, allow a path that’s a minimum of 36 inches wide.

When arranging furniture, think in terms of conversation. Keep furniture close enough so that people can hear each other. Also, if space allows, arrange your furniture at an angle to the walls. This will keep your room from looking too "boxy". In general, try placing your chairs and sofa away from the walls.

If you have no choice but to place your sofa along a wall, try positioning a narrow sofa table with a floral arrangement or area lamp behind it for more definition. Want a more casual effect? Try using an asymmetrical design concept. For example, mix and match the shape of artwork on your walls. Combine both fitted upholstery and relaxed contemporary slipcovers. Add a couple of unexpected accessories into the mix as well.

If your style is more formal, balance furnishings and accessories symmetrically. For example, place identical end tables and lamps on both sides of the couch. Create linear wall art groupings. Frame your focal point with matching bookcases, plants or picture ledges.

If you have a spare corner or a small tabletop, lend elegence and warmth to the space with a small sculpture or a unique lamp. Likewise, if you have spare wall space, hang a large mirror or group several mirrors together. This will visually enlarge the area and add depth.

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6 Different Agency Relationships in Real Estate

Michael Emilio — Mon, 12 Mar 2007 16:20:12 +0000

It’s important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transactions. Ask your salesperson to explain what type of agency relationship you have with him or her and with the brokerage company.

1. 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.

2. Subagent. A subagent owes the same fiduciary duties to the agent’s principal as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not representing the buyer as a buyer’s representative or operating in a nonagency relationship, 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.

3. Buyer’s representative (also known as a buyer’s agent). A real estate licensee who 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 by a commission split with the listing broker.

4. 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 the 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.

5. Designated agent (also called, among other things, appointed agency). 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.

6. 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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Tips on How to Have Your Home Make a Great First Impression

Michael Emilio — Sun, 04 Mar 2007 01:05:27 +0000

Studies show that 50 percent of home purchase decisions are made during the first 60 seconds. You can spend thousands of dollars on remodeling the inside of your home for resale, but if it doesn’t grab the buyer’s attention from the curb, many potential buyers will drive right by.

To determine what needs to be done to create a good first impression, walk across the street and study your house with fresh eyes. Or, enlist the help of a real estate professional who can give you expert advice on preparing your home.

Start by cleaning up any debris. Repair loose roof shingles and fill cracks in the walkway. Remove grease or oil spots on the driveway. Repair torn screens. Clean outdoor light fixtures. Prune trees and shrubs. Make sure the front steps are clean and attractive.

Don’t forget the mailbox, which may be the first feature the buyers will see as they look for your home’s address. If it’s weather-beaten or dented, replace it. Add visual interest by positioning rocks and potted plants around it.

Next, give your home’s exterior a face-lift with a power wash or paint job. Be sure to use a conservative color palette that would appeal to most people. If your budget or schedule does not allow for paintng the entire exterior, just painting the trim can make a big difference.

Continue the appeal with a friendly front door. Restore its luster with a coat varnish or a rich, new accent color. Clean and polish the hardware on the door. Make sure the doorbell works properly.

Enhance your landscape with foliage or splashes of color. It could be as simple as adding a flower bed, planting shrubs near your entryway, or filling a couple of large pots with bright flowers and ornamental grasses. When landscaping for resale, play it safe by reflecting the style of nearby homes.

As a final thought, consider adding architectural dimension to your home by installing a portico over your front door or adding on a small porch. These changes can make a world of difference in how your home is perceived.

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