"Your Friends in Real Estate"
September 7th, 2010 
Rick Menary & Nicole Menary
Broker/Sales Representative

Sutton Group
Heritage Realty Inc
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Sellers Tips

Sellers Tips

14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME 
Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.

12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.
 
Repair Before You Sell 
Doors
Knobs· If your doorknob is rattling usually it can be fixed by tightening the tiny set screw just behind the handle. If this doesn’t help, you may have to replace the spindle that goes through the hole in the door.

Hinges·If hinges are still squeaking after oiling, remove and clean with some steel wool. ·Remove hinges one at a time to avoid having to rehang your door.

Locks·If you have a hollow front or back door it may be a good idea to replace it with a solid or even metal door because a lock is only as good what it is attached to.

Floors
Squeaky Floors·Never try to apply any type of oil to a floor that’s squeaky. Squeaky floorboards should be nailed at an angle with the nail heads just below the surface of the wood. ·If floors creak try sprinkling the area with plain old talcum powder. Rub it in lightly and sweep away the remaining powder.

Gutters
Clogged
1.Lean an extension ladder against the house or gutter. For safety the ladder should extend a couple of feet above the gutter. 2.Wherever you see debris remove it using a trowel or other implement, proceeding around the house clearing all blockages.
3.Take your garden hose up the ladder and run water through all your gutters clearing them thoroughly. If water does not run clearly through your downspout, it’s clogged.
4.Try to use a strong flow of water to clear your downspout. If you’re still not having success, you may need a plumber’s snake to clean.
5.Each time you clean a blockage flush the downspout with water.

Leak in Basement Wall
1.You must pin point the crack creating the leak.
2.Get yourself some hydraulic cement and mix following instructions, usually to the consistency of putty.
3.Wait a few minutes until it stiffens a little.
4.Use a trowel or putty knife, forcing the cement into the crack or hole, and hold it there for a minute or two until it stays there itself.
5.Add more cement until the water stops flowing.
6.Shave or file down the material until it’s even with the wall.

Paint and Painting
·Old paint sometimes gets lumpy. To remedy this cut a piece of wire mesh to fit inside your old paint can. It will naturally sink to the bottom carrying any lumps with it. ·Stirring in a drop of black paint into your white paint will actually make the white – whiter. ·Hard to reach corners and tiny touch up jobs are easily handled by using a common household Q-tip (ear swab) to paint with. ·Using a ratio of 2 teaspoons of vanilla extract to 1 gallon of paint will help cut down on those strong paint odors. ·To remove paint from skin try using cooking oil. Usually just as effective as commercial cleaning products, without the irritation.

Plumbing
Frozen Pipes·Try wrapping the pipes with hot cloths or towels. ·Also try a steady heat from a hair dryer. · Remember to never let the pipe get too hot to touch with your hands.

Leaky Faucets
Here are 8 easy steps to remedy the dreaded leaky faucet:
1.Turn off water under sink (or at source).
2.Open faucet to drain water.
3.Unscrew faucet handle.
4.Unscrew nut that holds faucet stem in place.
5.Pull out faucet system.
6.Remove the screw at the bottom, which holds the washer.
7.Remove the washer and replace it with the same size new washer.
8.Repeat last 6 steps in reverse order.

Tools
Protecting Tools·If your storing tools in a damp basement or garage try putting some mothballs in your toolbox to absorb moisture. ·You can rub self-polishing floor wax on your metal tools, let dry and you’ll see this is a great precaution to avoid tools from rusting. ·Prevent your garden tools from rusting by keeping them in a bucket of dry sand.

Walls
Finding a Wall Stud·Generally wall studs are located 16 inches apart. If you start at the corner of the wall and measure 17 inches you should find the center of the stud. Be careful though electrical wires often run through the center of studs. ·If you have a common compass you can simply draw the compass across the wall and you’ll find the needle will be attracted to the drywall nails. Repairing Plaster·Believe it or nor mixing your plaster with vinegar instead of water will make a stronger fill. Protect your Walls· Place a small piece of masking tape over the spots on the wall you plan to nail (when putting up pictures for example). ·If you’re using a ladder that’s leaning right against your wall, you may want to cover the top ends with old socks to protect the wall from getting damaged.

Windows
Sticking·If your windows are a little sticky you’ll find that some beeswax applied to the pulley stiles will make the window slide much easier. Sweating·If your windows are sweating it’s probably one of two things. If the inside window is sweating, the storm window is not properly sealed. If the storm window is sweating, then the inside window is leaking.  
 
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