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First, decide if you want to hire a real estate agent or sell it yourself. Agents conduct about 80 percent of all home sales; the remainders are FSBO (For Sale by Owner). Agents are paid about 6 percent of the home's sale price. Agents do a number of things. They can determine a property's correct asking price. They can offer advice on sprucing up a house so it sells quickly, photograph and advertise the house, and list it in their multiple listing service, a database of available homes. They also coordinate appointments with potential buyers, their agents and you. You can perform all these tasks yourself -- except listing your home on the Multiple Listing Service (MLS). If you're selling your own home, research the regulations required by the state. Find a local escrow company to handle the paperwork. Then, examine your house, make any necessary repairs and start advertising. An estimated 50 percent of all home sales are the result of "drive-by;" an eye-catching "For Sale" sign can work wonders. Also invest in quality, classified advertising. Don't abbreviate or pinch pennies here -- the people reading the ads are your target market. Regardless of how you decide to sell, you will want your house to have "curb appeal" -- that is, it should look attractive enough to reel in buyers. Look objectively at your house, realizing that a small investment spent fixing it now will reap dividends when you close. Examine the exterior first. Mow, edge and weed the lawn. Trim shrubs and trees. Plant colorful flowers to make the house look cheery. Check the outside paint, looking for flaking or peeling. Touch it up or paint the whole thing, if necessary. Next, make your doorway inviting; it's the first thing a prospective buyer sees. Scrub it and paint it. In fact, touch up all the woodwork and trim, exterior and interior while you are at it. Inside, consider painting in white or off-white to brighten rooms or tone down offbeat colors. Replace worn wallpaper. Have carpets professionally cleaned.
Let light in by removing clutter from rooms, closets and attics. Rent a storage unit for extra furniture or boxes. Clean and organize all closets. Clean the windows and open the drapes. Dark homes don't sell well. Make everything sparkle -- bathrooms should be re-caulked and spotless. These small areas are very important to buyers. Once you've advertised, you're bound to get calls. When showing a potential buyer your house, make them feel at home. Turn off the television and banish pets to the yard. Turn on soothing music and light a fire in the fireplace. Some agents recommend baking cookies or a loaf of bread to give the home an appealing aroma. (A little potpourri in the bathroom should suffice). If you are showing the home at night, turn on the lights. Don't overwhelm the prospective buyer with conversation -- they're there to look at your house, not strike up a friendship. If all goes successfully, they will make an offer. If you're selling the house yourself, have a counter-offer ready and a contract prepared. Be sure to ask the potential buyers if they have pre-qualified for a loan. After the contract negotiations, loan approval and closing, your house is sold. Now start looking for a new one!
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