There are as many reasons to put a house up for sale as there are houses. It’s a big decision with even bigger financial implications that ultimately affect your future, so every piece of the process matters. Fortunately, we’ve tapped a group of super-experienced real estate experts to break it all down. The path to a quick, glitch-free closing starts now.
“In our current market, fast fixes are usually more effective than large projects, especially if you want to list quickly. Even homes that aren’t fully updated are selling due to limited inventory.”
—Danielle Longhitano, Julia B. Fee Sotheby’s International Realty in Larchmont
Research agents like it’s your job.
“The best way for a seller to choose an agent is to contact a few different ones to see what they bring to the table,” says Louise Del Giudice, a licensed real estate agent at Century 21 Marciano in New Rochelle. Ask lots of questions, about their experience and results listing houses in the specific area you live, and pricing methodology. “Be very upfront about your goals, timelines, and expectations,” advises Danielle Longhitano, a licensed real estate salesperson at Julia B. Fee Sotheby’s International Realty in Larchmont. Their reactions will give you a sense of your potential compatibility. Proactively talk through your communication preferences, suggests Danny Berger, broker/owner of RE/MAX Prestige Properties in White Plains. For instance, Berger shares information almost 24/7, via email, text, and phone calls. “My sellers appreciate knowing when anything pops up,” says Berger. But some people might find that overwhelming, so seeking alignment in this regard makes sense. Also, Maria Carlino, a licensed real estate salesperson at Julia B. Fee Sotheby’s International Realty in Irvington, recommends a deep dive into marketing strategy. What can you expect in terms of things like photography, 3-D virtual staging, aerial images, and a digital brochure? How will the listing be shared for maximum visibility?
Come up with your right price.
“A home is ultimately worth what the seller and one buyer agree it’s worth,” Berger points out. However, getting to that magic number may take some doing. “Pricing the house correctly from the start is critical,” says Ellen Stern, associate real estate broker at Julia B. Fee Sotheby’s in Rye. “Your agent should be able to justify their suggested asking price based on competitive market analysis—meaning comparable transactions in the specific market over the last year.” Berger acknowledges that psychology and feelings do come into play in the agent-and-seller back-and-forth on price. “Some of my clients have lived in their homes for decades—or even their entire lives—and can feel their place is worth a lot more than a buyer would.” Bear in mind, “Pricing should be based purely on market data, not personal feelings,” says Longhitano. “Market trends, interest rates, and seasonal fluctuations may influence pricing decisions as well.” In the end though, says Berger, deciding on a list price is more of an art than a mathematical decision.
Don’t get hung up on timing.
“There used to be much more seasonality in the buying season, which was typically from March through May,” explains Kori Sassower, principal agent of the Kori Sassower Team at Compass in Rye Brook. “But not anymore. With the current limited supply and high demand, there is no wrong time to list your house, except during a holiday week. So if your home is ready to go to market, don’t hold off. List it!”
Collaborate with your agent on detailed to-do lists.
Tackling the minor fixes that you have been putting off can make a big difference to buyers, according to every pro. Inside, touch up scuff marks or cracks in paint. Replace old, cold light bulbs with new, warm white ones. Clean vent covers. Thoroughly mop or vacuum all floors. Replace discolored caulk. Outside, prune any overgrown bushes and dead tree limbs. Add mulch to flower beds. Clean gutters. Power wash everything to remove unsightly moss. In warm weather, plant seasonal flowers and cut grass regularly. In winter, remove snow immediately. According to Sassower, swapping in modern house numbers, mailboxes, and exterior lights from a home improvement store can really make a dated home look refreshed, as does removing distractions such as holiday décor, chimes, and garden gnomes. As for major repairs, such as structural issues, roof damage, plumbing problems, or visible signs of flooding in the basement, know that not addressing them could derail a sale. Buyers will be turned off by problems they don’t want to deal with, according to Longhitano.
Consider pro staging based on your circumstances.
To stage or not to stage—that is the question. Agents differ widely in their stance on this. Staging is an added expense which in many cases would make the house look better, but it comes at a cost that is usually paid for by the seller, according to Berger. “Whenever possible, I prefer to spend less of my seller’s money and just work extra hard to get them top dollar without staging.” Carlino has the opposite take. “Staging can make for better first impressions, highlight a home’s best features, and show potential buyers how to use each room most effectively,” she says. “It can also result in more appealing photos for online listings and marketing materials, and a quicker sale at a higher price.” Discuss pros and cons in detail with your agent so you can make an informed decision based on goals, budget, and your willingness to try to DIY.
Declutter and depersonalize relentlessly.
Another point experts universally agree on: Decluttering and removing personal items. “Anything you can do to make rooms feel larger and more spacious is hugely helpful,” Berger says. “Boxing up as many personal items as you can helps potential buyers envision the space for themselves,” DelGiudice advises. Longhitano agrees that an airy, clean space lets buyers imagine themselves living there, which can help nudge up their bid.
Prepare yourself for showings, showings, showings.
Here’s the bottom line: “More showings equal more offers, which will ultimately command the highest price,” says Sassower. “Our goal is to get as many people as possible in the door so that we can do our job and help them happily envision what their life would look like in the home.” According to Longhitano, “The first two weeks after listing, when the home is new on the market, are critical for securing the best offer. Keep showing it!”
Stay focused and flexible no matter what happens.
Keep all important documents handy for ready reference, such as warranties, appraisals, surveys, or details on recent improvements, suggests Stern. When negotiations get underway, try to stay loose. “Flexibility is essential, because unrealistic expectations can cause a deal to fall through,” Longhitano points out. “Buyers may request contingencies or repairs, and being willing to compromise can lead to a successful sale.” Also, after you accept an offer, don’t rush to de-list. Instead, keep your home on the market until you have a fully executed contract. Deals can and do collapse for any number of reasons, according to Carlino, including issues discovered during inspection, appraisal discrepancies, bank loan denials, unresolved liens, missed contingency or contract deadlines, or a buyer getting cold feet. “Staying proactive until the sale is fully finalized helps avoid losing out on other potential offers,” notes Longhitano.
“Our goal is to get as many people as possible in the door so that we can do our job and help them happily envision what their life would look like in the home.”
—Kori Sassower, Compass in Rye Brook
Should You Spring for a Pre-Listing Inspection?
When Compass agent Kori Sassower meets with potential clients, she suggests they book a pre-listing inspection. According to Steven Silva, owner of Estate Inspection Group in Westchester, “This is a very underutilized service, which will result in a written report that gives sellers a detailed understanding of the actual condition of their home.” A comprehensive evaluation includes assessing the roof, exterior walls, kitchen, bathrooms, and all systems, including electrical, hot water, heating, cooling, plumbing, and ventilation. Cost typically ranges from $600-$1100 depending on the size of the house, but the return on that investment is that the seller can decide either to go ahead and fix the defects, making them a non-issue when a potential buyer arranges for their own inspection. Or they can opt to collect bids from several licensed contractors to gauge the fair market value of what the needed repairs would cost. “Those numbers can help sellers set their asking price appropriately to sidestep requests for negotiation concessions,” Silva says. Or they can provide a helpful baseline reference if a buyer requests a specific credit. Case in point: Silva had a client who gathered bids for a new roof, which averaged $13,000. When a potential buyer asked for a $25,000 credit to replace the roof, Silva’s client could counter with real-time actual figures. According to Sassower, there is definite value in any information that can help keep negotiations moving. “Pacing is important,” she says. “You don’t want anything to break that flow.”
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