Selling The House: Make the Most of It

If you can sell your house for $200,000, why sell it for $175,000?

If you can sell your house to the first or second buyer who views it, why show it to 10, 20 or 30 buyers?

If you can sell your house in a few weeks or a month, why would you drag out the process for six months or longer?

Prospective buyers don't care how much you 'want' for your house, or by what date you 'need' to sell it. And, they are comparing your home to lots - no, LOTS - of other homes up for sale.

By putting your home up for sale, you are marketing a product to the public in the exact same way that car dealers sell cars, in the same way that restaurants sell meals, in the same way that travel companies sell vacations. Whether you're buying a car, going out to eat or going on vacation, you purchase everything that you do at a time and place of your choice, at a price that you feel that it is worth - and not a penny more.

Selling a house is like any other business: You have to spend money to make money.

There are four categories of home improvement projects: A). Improvements that increase property value B). Improvements that make a house sell faster C). Improvements that accomplish both A and B

D). Improvements that accomplish neither A nor B

Naturally, many home sellers look only to their realtor - or no one at all - for advice when compiling and prioritizing their list of home improvement projects.

While realtors generally have their clients' best interests in mind, they may be less concerned with how much you sell your house for as how fast you sell. At a commission of 3-6%, for every $1000 by which you increase your property value, the realtor only collects $30-60.

Conversely, buyers will generally seek financial concessions for desired repairs or improvements equal to roughly twice the actual cost of the repair itself.