3 Reasons your Home isn’t Selling

A home languishing on the real estate market is one of life’s more frustrating ordeals. Especially if you’ve owned the home for some time, there’s that emotional attachment that tells you, “Hey, this is an incredible house. It should sell really fast!”

If you’re under contract on another home or if you need to relocate there is also the need for speed.

There is no reason, at least not in the current market, that a home in good condition and in a desirable area shouldn’t sell. Homebuyers are clamoring for these homes.

There are several common reasons that homes don’t sell and one of these may just be the solution to your problem.

1. The home is overpriced

The most common reason a home sits on the market is because it’s overpriced. Asking too much for the home could be a result of you ignoring your real estate agent’s pricing advice,  an error on the part of your real estate agent or because the market corrected and your agent didn’t notice.

Regardless of the reason why, you’ll need to drop your price, as soon as possible, to renew interest in it and get it sold.

In a nutshell, homes sell for what buyers are willing to pay, not what sellers hope to get. The only way to know what a buyer is willing to pay for a home like yours is to check the sale prices (not the asking price of active listings) of homes similar to yours.

If it’s less than what you’re currently asking, I urge you to drop the price. The price reduction may just be the key to getting more buyers through the front door and, thus, to the home selling. 

2. Your home needs work

We’ve noticed that the homes that sell the fastest are priced right and they’re in good condition. What do I mean by “good?” They have curb appeal – the exterior reflects pride of ownership, not necessarily opulence. The trim is painted, the siding is in good condition and the landscaping is tidy.

Inside, the paint is fresh, the carpets clean and the house is neat. The buyer has the impression that he or she can move right in and not have to work to make the home livable.

Because we tend to be “married” to our homes and don’t notice their flaws, the ideal way to get feedback on its condition is for your agent to solicit it from the buyers’ agents who’ve brought their clients to the home.

If your agent isn’t doing this, he or she is doing you a disservice. Ask your agent to do the follow-up – you are, after all, paying him or her. Which leads us to reason number 3 that your home isn’t selling.

3. You have a lousy real estate agent

Your real estate agent’s primary job is to market your home. If it’s priced right and in good condition, the next biggest reason it’s not selling is because you have an agent who is failing at the marketing game.

Get together with your agent and find out what is being done to market the home. If the only marketing that’s been done is a sign in the front yard and an MLS listing and, perhaps, a blurb on the freebie websites, consider finding another agent.

It’s a lesson many homeowners learn the hard way: Never hire an agent that doesn’t consistently make enough money to offer a powerful marketing plan. It’s the essence of what you’re paying for and you should demand the service you deserve.

If you follow numbers one and two, above, and you are convinced your agent is doing a stellar job, ask yourself if you’re flexible enough in showing the home.

We know from our own listing clients that the worst part of selling the home is having to keep it in model-home condition despite life continuing to happen – kids, pets, guests and all of that.

Buyers work too, and often the only time they have to look at homes is in the evening or on weekends. Accommodating last-minute requests to see the home earns bonus points (at least with us!) and gets you even closer to selling the home.

Even in the hottest sellers’ markets there are slow periods, so if you’ve done all you can to ensure that your home is competitive, relax and give it more time.

Prevent home repairs by breaking these 5 bad habits

“Deferred maintenance.” It’s a term that real estate professionals hear frequently. It describes a home that has been neglected and raises red flags concerning its condition.

Putting off routine home maintenance can not only lead to big, ugly, expensive problems down the line, it causes a significant loss of your home’s value when it comes time to sell.

Let’s take a look at five of the most common problems and all of them can be prevented by changing bad habits.

1. Kitchen drain abuse

Although it’s easy to assume that the garbage disposer can grind up just about anything you throw at it, use caution. Everything that you put down there will end up in the drain pipes. Some of it will exit with ease while other substances can sit, accumulate with others and cause a great-big headache of a clog.

Grease and oil are the most common culprits when it comes to clogged kitchen drains. Plumbers recommend pouring the grease into an old coffee can or something similar. Let it sit until it cools and congeals and then throw the container in the trash.

Garbage disposers don’t properly grind up certain fruit and vegetable peels, such as apples and potatoes. Peel them over a trash container instead.

Starchy foods, such as rice and pasta will swell with the addition of water and coffee grinds should never be poured down the drain.

In fact, according to the pros at atomicplumbing.com, “Nothing causes more blockages and clogged pipes than coffee grounds and grease. Even if you don’t put them down the drain at the same time, they’ll meet up and form a sludgy impenetrable nightmare.”

2. Neglecting the gutters

Whether it’s your fear of heights or because they’re easy to forget, the gutters around your home need your attention. When debris, such as leaves and twigs, builds up, it blocks the free flow of water. The water will back up and can damage both the exterior of your home and the roof’s eaves.

“If you let gutter cleaning go by the wayside, it can cost you hundreds or thousands of dollars,” Jeff Lambert with The Gutter Man in Houston tells angieslist.com.

While you’re at it, don’t forget to clean out the downspout as well. Lowe’s has produced a handy video that will walk you through the process.

Gutters should be cleaned out every three months, according to the experts.

3. Not replacing the AC filter

Allowing your HVAC filters to become clogged with fuzz can end up costing you a fortune.

“A system that has a dirty filter can suffer from pressure drop, which can lead to reduced air flow, or ‘blow-out,’ resulting in no air infiltration at all,” according to Nick Gromicko and Kate Tarasenko with the International Association of Certified Home Inspectors.

This causes the system to have to work harder and “any mechanical component that has to work harder to run efficiently puts undue stress on the whole system, which can lead to premature failure, resulting in repair or replacement,” they continue.

Here’s some incentive to help you remember to change the HVAC filter every month to three months: The average cost, nationwide, of a new air conditioning system is $5,369 (according to homeadvisor.com) and you can pick up a new filter for less than $1 at the big home improvement stores.

4. Taking the water heater for granted

We don’t know why, but one of the most common complaints of new homeowners is that the water heater broke down shortly after they moved into their home.

The purchase and installation of a new water heater averages to $1,048, nationwide. If the unit failed because of a burst pipe or leak, plan on paying an additional $4,000 (after the insurance deductible) or so to fix the damage, according to the Insurance Institute for Business and Home Safety.

But, with a little maintenance you can extend the life of this oh-so-important appliance. Check out the video walk-through of water heater maintenance at thisoldhouse.com.

5. Ignoring plumbing leaks

Homeowners can save 10 percent on their water bills just by fixing leaks, according to the U.S. Environmental Protection Agency. But, that’s just the beginning of how much you’ll save.

Leaky plumbing allows moisture to seep into floors and walls and, if ignored long enough, can cause damage that may cost thousands of dollars to repair.

Some leaks are easy to diagnose (a dripping bathtub faucet for instance). Others may take a bit of sleuthing.

Plan on performing a routine inspection of the home’s plumbing system at least once a year. Check the toilets for worn flappers and check all under-the-sink valves for signs of moisture leakage.

To determine if your home has hidden leaks, the EPA recommends that you check your water usage “during a colder month, such as January or February. If a family of four exceeds 12,000 gallons per month, there are serious leaks.”

Another way of detecting hidden leaks is to jot down the reading on your water meter and then don’t use the water for two hours. Check the reading again. If there’s a change, you may have a leak.

Colorado’s Thornton Water Works offers a video to walk you through looking for hidden leaks.

My mortgage application was turned down. Now what?

Sure, the results of an appraisal and the home inspection can stop a real estate deal dead in its tracks, but what if you never get that far in the process?

What if the lender turns down your loan application – is there anything you can do to buy a home?

That depends on why the lender denied your application, and there are several possible reasons.

Let’s take a look at them and see if we can’t get you back on track to buying a home.

Low or insufficient credit score

Pulling your credit report will be one of the lender’s first tasks and low or spotty credit records are the most common reason that someone is denied a mortgage.

If you applied for a conventional loan and were turned down for this reason, consider applying for a loan using an FHA-backed mortgage.

The score requirements are a lot more relaxed and lenders are more likely to take a chance on you when the government is promising to repay them should you default on the loan.

Another way to approach the credit score problem is by paying a larger down payment, if you can afford it. Lenders take large down payments quite seriously and are willing to overlook other problems with the application when the borrower has some “skin” in the game.

Plus, the larger down payment will bring down the amount you need to borrow.

If none of these alternatives work, take a break from house hunting while you work on your credit score.

The experts at Fair, Isaac and Company, or FICO as they are known, remind consumers that “repairing bad credit is a bit like losing weight: It takes time and there is no quick way to fix a credit score.”

Get current on any bills you’re behind on and pay all bills on time going forward. Reduce your debt as much as possible and keep the balances low on your credit cards.

Lower your ratios

One of the aspects of your finances that the lender’s underwriter scrutinizes is your debt-to-income ratio (DTI). If they turned you down because yours is too high, get to work lowering it. There are three ways to do this:

  • Increase your income
  • Lower your debt
  • Do a combination of both

Unacceptable employment history

The days of the so-called “liar loans” are long gone and today, lenders look for at least two years of consistent job history, either with the same employer or in the same industry. Even the self-employed applicant will need to meet this two-year benchmark.

If your loan denial is the result of unacceptable work history, consider waiting until you have the required amount of time on the job before reapplying.

Otherwise, keep shopping around for a loan but chances are, most lenders will deny your application for this reason.

Last minute denial

Just when the purchase seems to have overcome the most common obstacles and you’re mentally moving in to the home, the lender sends you a message that your loan has been denied.

How can this happen?

Two reasons come to mind: the appraiser said the home isn’t worth the amount of money you want to borrow or your financial situation has changed since you first applied for the loan.

Lenders will perform one last pull of your credit information just before closing, so it’s important that your financial situation remains consistent from the time escrow opens until it closes.

Don’t make major purchases on credit, don’t apply for new credit, don’t switch jobs or banks

We aren’t mortgage professionals but are happy to refer you to one should you have any questions about getting a loan, or about the mortgage process in general.

3 ways to wreck your home’s value

As a homeowner you know that the best way to protect your home’s value is by maintaining it. And, when it comes time to sell it, you’ll find lots of ways to increase its value.

On the flip side, there are few folks willing to tell you how to wreck your home’s value. Until you met us, that is.

Use this list of tips as a cautionary tale – unless, of course, you really want a decrease in value.

 1. Convert your garage

More than half of homebuyers want a 2-car garage and 86 percent want a garage with storage, according to a survey conducted the National Association of Homebuilders.

So, although you may think of yours as wasted space or just an oversized junk drawer, carefully consider what a garage conversion can do to your home’s value.

A Sacramento appraiser found that homebuyers paid between 6 and 10 percent less on homes with no garage, regardless of what replaced it.

On a $200,000 home, that’s a loss of between $15,000 and $20,000.

Ouch

If you are thinking of selling the home, consider some garage upgrades that may increase its value and make it more attractive to homebuyers. These include:

  • A new garage door. According to Remodeling Magazine’s “Cost vs. Value” report, homeowners who installed a new garage door saw a 98.3 percent return on their investment.
  • Adding additional storage options, such as shelves and cabinets. Consider overhead storage, suspended from the ceiling, to utilize the wasted space above the cars. It’s quite popular and will catch a buyer’s eye.
  • Make the garage look brand new by power-washing the floor and applying an epoxy floor coating (This Old House offers a walk-through of the process). Then, paint the walls with a semi-gloss paint.

2. Don’t snitch to the HOA about bad neighbors

If your community is governed by a homeowners association, you pay dues. Even homeowners with low fees should expect their association to enforce its rules and regulations.

To not take advantage of their power when a neighbor is messing with your home’s value is just not smart. Consider becoming a “snitch” if any of the following occur in your neighborhood:

  • The hoarder: Nearby property that is cluttered with a homeowner’s junk can reduce your home’s value by 5 to 10 percent, according to the Appraisal Institute. If the exterior is extra-packed with debris, you may lose even more value.
  • The loud neighbor: Most associations have a noise ordinance in their rules, and for good reason. Not only are loud neighbors disruptive to other residents, but their (and their pets’) noise can reduce home values by another 5 to 10 percent.
  • Unsightly vehicles: Many HOAs prohibit residents from parking commercial vehicles, boats and large recreational vehicles on the property. If yours does, and a neighbor is violating the policy, contact your HOA and file a complaint.

3. Install a pool

In some parts of the country, such as Las Vegas and parts of Arizona, a pool adds value to a home. It may also add value if you live in a neighborhood where most of the other homes have pools.

In other regions and other neighborhoods it may or may not and in yet others, a pool is considered an expensive inconvenience and a liability and can drag down the value of your home.

Not only that, but a pool knocks some buyers out of contention. Unless it offers security features, the pool won’t be popular with families with young children.

Consider that the average cost for a complete pool installation will cost between $30,000 and $100,000 according to Jean Folger at Investopedia.com.

Then, in some states and municipalities, fences around the water feature are mandatory, so factor in that cost. Find out if yours is among them at signs.com.

Ongoing maintenance may cost a bundle as well. “The pump and heater, if you have one, could drive up your utility costs by $100 a month or so,” according to the folks at daveramsey.com.

“You’ll spend about $600 during the swimming season on chemicals if you maintain your pool yourself. If you live in a climate where you’ll use the pool year-round, budget $15–25 a week for DIY maintenance,” they continue.

If you must install a pool for your own enjoyment, keep in mind that it won’t pay for itself when you sell the home and you’ll likely take a hit on your home’s value.

No, these aren’t the only things that negatively impact a home’s value. Many of the others are out of your control. For those issues that are within your control, act on them.

Speak up and protect your investment when the airport decides to change flight paths, when something negative is about to impact the quality of your local school and when value-killing zoning changes are afoot.

An important thing about your new home that your real estate agent is forbidden to tell you

“What’s the crime rate in this area?”

It’s a common question and we understand completely why homebuyers want the answer. Unfortunately, real estate professionals are forbidden from answering it.

So, when your question is met with silence, or you’re directed to the local police station or a website or two, please don’t think we’re brushing you off.

The Fair Housing Act

Passed into law in the late 1960s, the Fair Housing Act’s aim was to end housing discrimination. In our case, it prevents us from answering certain questions because our answers may be construed as “steering.”

Steering is when a real estate agent tries to discourage a client from buying a home in a certain area. Even if we don’t intend to steer you, crime statistics, racial demographics and even which churches are in the area are topics that are off-limits to us.

The law applies to listing agents as well. For instance, advertising a home as “within walking distance,” could be a violation of the law in that it appears we are discriminating against the handicapped.

Agents get around this by saying that a home is “within close proximity to” or “near” an amenity.

Back to safe neighborhoods

There are several ways to check crime statistics or the general safety of a community.

Crime mapping services

Crime mapping services collect data from police. In addition to gathering data from the local sheriff and police departments, some, such as crimereports.com, enlist the help of homeowners with security cameras, allowing them to register their cameras with the site.

My local police department uses crimemapping.com to get the word out. Other sites to visit include spotcrime.com and mylocalcrime.com.

City review sites

Other sites, such as areavibes.com, encourage residents to give a general overview of their cities and these reviews will often contain community-level crime information.

Neighborhoodscout.com’s Crime Risk Reports “provide an instant, objective assessment of property and violent crime risks and rates for every U.S. address and neighborhood,” according to its website. They also offer lots of informative lists, such as Murder Capitals of America, Most Dangerous Cities, Most Dangerous Neighborhoods, Safest Cities in America and more.

Social networks

NextDoor.com is growing in popularity, which please us to no end. NextDoor is a social network at the neighborhood level. It’s neighbors talking to other neighbors, sharing information on local service people, lost and found pets and, yes, crime.

You’ll get a deeper insight into a particular neighborhood here than you will on a national site.

Nextdoor is a private platform so ask your agent if he or she knows anyone who lives in the neighborhood who may be a member. Perhaps the home seller is and you can log in with his credentials.

Sex offender databases

Familywatchdog.us is probably the most popular database of the nation’s sexual predators. The site also offers a list of state registries, facts and statistics and safety tips.

The U.S. Department of Justice offers the National Sex Offender Public Website with a “regularly updated database that allows you to enter an address and map sex offenders nearby.”

Talk to the neighbors

Nobody is more in touch with local crime than residents of the community. Drive the neighborhood at different times of the day and when you see neighbors outside, stop and chat with them.

Not only will you most likely get information on how safe the neighborhood is but you may learn other valuable things about it as well. So, open your ears and soak up the gossip.

Back-to-School: Are you Ready?

Back to pencils, back to books . . . we are getting closer to the day our students head back to class.

This means it’s time to start gearing up for the fall routine ― the back-to-school shopping for clothes and school supplies, getting used to a new sleeping schedule and trying to get a handle on those transportation issues.

Thankfully, we have some tips for you to help make the transition a bit easier.

Ease everyone into the fall routine

Think back to those first days of summer vacation. If you have teenagers, especially, you know that they went from waking to an alarm at the crack of dawn (at least to them) to snoozing half the day away without missing a beat.

Yanking them into the reality of fall isn’t easy. Ease them into it instead by starting the new schedule a week or two before school starts.

Set the alarm clock for the time they’ll need to rise to get to school on time and put them through the paces of a normal school morning with breakfast, making lunches and whatever else your family does to get ready for school in the morning.

Be extra attentive to the Kindergartener

I vividly recall my first day of Kindergarten. I remember feeling apprehensive, yet a little excited.

My father walked me to my classroom and then left. I followed him, screaming at the top of my lungs to him, begging him to not leave me there. I even recall reaching my pathetic little arms through a gate, coaxing him to come back for me.

For some kids, the very first day of school can be traumatic.

Easing them into what will become years of routine is important. A lot of their anxiety centers on the teacher and fellow students. So, meet this angst head-on by attending your school’s back-to-school night.

This way, your child can meet the teacher before classes start. And, there’s a good chance he or she will meet fellow students as well. When next they meet, during school hours, they’ll have a bit of recognition of one another, making it easier to break the ice.

Shopping Tips

Some shopping experts claim that parents should buy only enough clothes to last the first few weeks of the new school year. Why?

First, in around the middle of September, retailers hold sales. It’s the very best time to buy the bulk of your child’s school wardrobe.

Next, it will take your student a couple of weeks to determine the latest fashion and which items he or she wants to add to the wardrobe.

School supply shopping, on the other hand, has to be done before school starts. Many of our local schools post a supplies list on their websites which you can print off and take with you when you shop.

Take your child with you on the shopping trip. Not only will the trip result in buying what the child needs and wants, but it helps the little ones build excitement when you point out how each item will be used at school.

If you can’t afford the required supplies, contact the Kids in Need Foundation, a nationwide program that helps parents get what their kids need. Check the list of resources to find one near you.

If there isn’t a resource center in your area, contact the school’s or district’s social worker.

Getting back to school is a tough transition for both kids and parents but getting off to a strong start is critical to your child’s success. With your planning and support, your children will thrive during the school year.

3 benefits of buying a newly-constructed home

Look at three or four resale homes during your house hunt and you’ll start getting the feeling that, should you purchase one of them, you will be buying someone else’s poor design ideas, lousy home maintenance and lack of cleanliness. Yuck.

It’s for this reason that many homebuyers choose a newly constructed home instead. Yes, they typically sell for more per square foot, but the extra money is worth the extras that come along with a new house. Let’s take a look at three reasons you may want to choose a new home over a resale.

1. Energy Efficiency

It’s a fact that energy efficient features lower your monthly utility bills. Many of today’s new homes are rated by the Residential Energy Services Network (RESNET), which assigns each home a score. This score is readily available to homebuyers to use when comparing the energy efficiency of homes.

In addition to the money-saving aspect an energy-efficient home provides, resale values are higher. According to Zillow’s Housing Trends Report, nearly half of homebuyers say that energy efficiency is a desirable feature in a home.

In fact, according to another major real estate conglomerate’s studies, homes with energy efficient features sell for 7 percent more than homes that lack these features.

2. Fewer Headaches

Why purchase a home that needs new paint, carpet, cabinets, appliances and flooring? In a newly-constructed home everything is new. Everything is clean. No nasty grease smells, pet odors, scuffed up baseboards or well-worn floors.

Shoddy home maintenance isn’t a concern either because the home is brand new. Then, many homebuilders will supply you with a one-year home warranty, especially if you ask for it. That kind of peace of mind is priceless.

3. The Opportunity to Customize

The ability to take a blank slate and impose one’s personal tastes onto it is the biggest reason many buyers choose a new home over an existing one.

Some of the customization features that you may be able to choose include:

  • Location – often, you’ll pick which lot in the community you want to live on.
  • Flow – if you purchase before the home is built you may be able to dictate where the bathroom is located or ask that the laundry room be built upstairs instead of downstairs.
  • Design features – from wall color to flooring to cabinetry, you’ll be making a lot of personalized decision when you purchase a new home.

Buying a newly constructed home is a buyer-centered experience. As experienced new home buyer representatives, we are happy to walk you through every step of the process to ensure you get the home of your dreams.

Keep your home safe while on vacation

Planning for a vacation is distracting. Sitting at your desk at work, mentally going over what you’ll need to pack, visions of sandy beaches and cool water dancing in your brain – there’s not a lot of room to consider anything else.

But you need to make room

Crime rates increase about 10 percent during the months of June, July and August, according to the FBI and summer-on-the-brain and the distractions it causes most likely accounts for many of them.

So, before you pack another beach towel and bathing suit, take steps to protect your home from the burglars that may be lurking around your unoccupied home. 

Check all doors and windows

If you open your bathroom window to let the misty air out while bathing, don’t forget to lock it when you’re finished. Many Americans don’t remember, which is why most thieves check the bathroom window first, according to a convicted burglar, Jerome Gilgan.

“Bathroom windows have always been one of the best ways” to get into a home, he tells Kyle Iboshi, KGW News in Portland, Oregon.

Thirty-two percent of burglars gain entry to homes through an unlocked front door. But locking the door doesn’t guaranteed that you won’t become a victim.

If the door is locked, many burglars will check the most common places homeowners hide the key.

But, not finding the key doesn’t stop them. “If they know you’re not home, many thieves will simply kick in the door or remove it from its hinges,” according to the pros at Crime Prevention Security Systems.

Don’t let newspapers and mail pile up

Gilgan told KGW News that one of the things he looked for when casing which homes to burgle was overstuffed mailboxes. Hire a neighborhood kid to pick up your mail while you’re gone. Or, have the post office hold it for you.

Don’t forget to tell the newspaper delivery person to cease delivery for the period you’ll be out of town. A collection of newspapers in the driveway is a dead giveaway that nobody is home.

 

Mind your landscaping

Professional thief Michael Shayne Durden, who performed hundreds of burglaries in Texas over a period of 20 years says that one of the things he looked for when casing homes was overgrown lawns.

Durden focused on neighborhoods with well-maintained homes, so a home with an un-mowed lawn, is a “dead giveaway” the owner is on vacation, Durden admitted in a jailhouse interview by the Allen, TX police department.

Then there’s that privacy landscaping around the front of the house. Sure, it keeps out neighbors’ prying eyes, but it’s something that burglars are happy to see. Just like you, they don’t want neighbors watching them, so a home with lots of cover becomes a target.

Before leaving on vacation, have your gardener cut back anything that provides a screen between the street and your windows and doors. 

Leaving a light on isn’t enough

I “would drive through upper class neighborhoods looking for many things, like a porch light on with all window blinds closed,” one burglar inmate told KGW News.

Gilgan wholeheartedly agrees, saying that “keeping the blinds or drapes closed” while on vacation is one of the biggest mistakes homeowners make.

So, open the window coverings, and turn on some lights and the TV.

Other ways to deter burglaries

The best way to deter a burglary while you’re out of town is to make the home look occupied. One of the best ways to do that is by parking a car in the driveway. If you’ll be leaving your car at the airport, ask a neighbor to use your driveway while you’re away.

Install a wireless security system. “It’s a major deterrent,” according to Durden. When he sees signs for these systems implanted in front and backyards, he feels that “There’s no point in even going there.”

In fact, homes without security systems are three times more likely to be broken into, according to SecurAmerica, LLC.

Then, put a sign advertising the system (ensure that it says “wireless” on it) in both the front and back yards. 

Hide your valuables

The most commonly stolen items from a home include:

  • Cash
  • Prescription drugs
  • Jewelry
  • Electronics (TVs, gaming consoles, computers, iPads and smartphones
  • Firearms

Don’t hide any of these items in the master bedroom while you’re on vacation because it’s the first place a thief will look. “Put jewelry in your garage, and mix it in with your tools,” Durden suggests.

“Or, put it in the ceiling or in the attic.” Burglars are in a home for such a short period of time, these are places they typically don’t get to.

“People really need to pay attention to their offices,” Durden continued.

He’s found credit cards in home offices (which he then used at Walmart to buy popular electronics that he sold on the street) and financial records, including bank account numbers with routing numbers.

Before leaving on vacation, do a tour around the home, ensuring that doors and windows are locked and that valuables are hidden away.

Then, go and have some fun!

Want maximum profit from your home sale? Hire a listing agent

Selling a home looks so easy, doesn’t it? After all, what does a real estate agent do to get homes sold that you can’t do?

Russel Baze, the winningest jockey in thoroughbred horse racing, makes his job look like a snap. If you pleasure-ride, you wouldn’t be the first to think you may have what it takes to do what he does. But, we dare you to try it.

You must not only be fit enough to remain perched atop a nervous, high-strung horse but remain still as the horse accelerates  down the track at speeds in excess of 30 miles-per-hour.

You’ll simultaneously need to fight the push-back that the acceleration causes, all the while maintaining your balance using only your heels and calves.

It’s common to lack appreciation and understanding of other peoples’ expertise – we take for granted our doctor’s skill and knowledge, the scissor wizardry of our hair stylist and, yes, the marketing chops of a good real estate listing agent.

Which leads us to the number one factor that will get your home sold.

Marketing

Unless you work in marketing as your profession, it’s safe to say you may know little about how to market a home. To do so, strategically, requires:

  • Understanding current market conditions
  • Knowing homebuyer trends
  • Determining the most likely buyer for the home
  • Knowing where to market the home
  • Knowing how to present the home for maximum impact
  • Pricing the home strategically
  • Having the money to put a robust marketing plan into action

Example of a DIY home seller disaster

A few weeks ago, while looking through the MLS listings for homes for a buying client, I came across a home that was priced so low that I naturally assume it needed major work.

I took a closer look at the listing and learned that it was being sold by owner. It had been on the market for nearly a year, in a market where the average home sells in 34 days.

Typically, a home that sits on the market for too long does so because it’s overpriced. This home, however, was priced at rock bottom and STILL no takers.

I have no idea what other marketing avenues the seller was using, aside from an MLS listing, but even with that, he or she failed miserably.

The first thing buyers look at in a listing are the photos. This listing had only four photos, the first of which was a shot of the front of the home. It was not only blurry, but it was snapped from too far away. The home has curb appeal, but you can’t see it in the photo.

The next photo was of a long, narrow, empty room. I assumed it was the living room. If it were staged, potential buyers wouldn’t be left guessing the room’s purpose.

The kitchen, the most important room to most buyers, lacked any appeal whatsoever. Or, was it that the photo was so dark and, again, blurry?

Then, the homeowners included a photo of a pool table.

No, not a room that held a pool table, but a closeup of a pool table

The final image was the bathroom (the second most popular room for homebuyers). The toilet seat was left up, the shower curtain was open, the counter was littered with toiletries and the photo had almost no lighting.

If this home seller is trying to make less for the home than it’s worth, he is doing a bang-up job.

I certainly don’t expect a homeowner to have professional photography skills any more than I hope my clients don’t expect me to have them. Which is why it’s so important to rely on a pro to snap the photos of this HUGE investment you’re trying to sell.

Crisp, sharp, well-lit, compelling photos – and lots of them – go a long way toward getting homebuyers off the internet and into your home.

Staging empty rooms is vital if you want to sell quickly and for top dollar.

Where’s the info?

Photos aside, the homeowner also suffered a DIY disaster in the remarks section of his MLS listing. There was not one word in the remarks section. Nothing.

Imagine you’re trying to sell your car on Craigslist. Will you merely post dark and blurry photos of it without a bit of text outlining the car’s details? If so, will you really expect to be inundated with inquiries about it?

A professional listing agent understands how to use the limited remarks section for all its worth. He or she knows who is in the likely-buyer pool for the home and targets these people by highlighting the features they demand.

This is knowledge that the average homeowner lacks

The final nail in this home’s coffin

I did an even deeper dive into MLS statistics for this home and the results were fascinating. As mentioned earlier, the home went on the market nearly a year ago. Two months after listing it in the MLS, however, the homeowner dropped the price $10,000.

Naturally, he or she noticed other homes flying off the market and assumed he’d priced his too high. If that were really the case, lowering the price would provide fresh exposure and a new round of buyer interest.

Two months later he again dropped the price, $10,000

Still didn’t sell. So, and this is quite curious – four months later he raised the price $10,000. This happened three months ago and the home is still on the market.

Sadly, at this point the home is stigmatized. Buyers tend to steer clear of homes that have been on the market this long, assuming there is something wrong with them.

The competition is kicking his hiney

The listing that comes up next to our homeowner’s is priced $29,000 higher and being marketed by a pro. The home has been staged, the photos are brilliant and the listing remarks top-notch. In a side-by-side comparison, the slightly-more expensive home wins, hands down.

Now, this example is of the MLS listing, just one aspect of what it takes to market a home for sale. We have no idea if the homeowner is utilizing other marketing vehicles, but we doubt it. Homes just do not sit on the market for this long when they’re marketed professionally.

This is a textbook case of how lost a DIY home seller can become

Without a professional to guide him, he will take a beating on price when and if the home finally sells.

In the hands of a capable listing agent, this homeowner would’ve priced the home competitively out of the gate. The home would’ve been completely prepared for the market, thus justifying the price.

The appropriate research mission would let the listing agent know who to target in the marketing plan and where and how to reach them.

If I knew this homeowner, I would’ve cautioned him against dropping the price until he’d fixed the home’s presentation issues, re-photographed the home for the MLS listing and added some compelling text to it.

Now, I know that what I do isn’t rocket science. Statistics show, however, that your home, in the hands of a professional, experienced listing agent, will sell for more than you’ll make if you go the DIY route.

Do these 5 things as soon as you move into your new home

In all the excitement of moving and trying to get settled in the new home, the last thing you want is a honey-do list, right? Some things, however, shouldn’t be put off but need to be taken care of now.

So, push the boxes aside for a day or two and let’s get ‘er done!

1. Change the locks

Although this may seem like a no-brainer, changing the door locks on a new home is something many homebuyers neglect doing. Hey, when you consider all the little details that need attention, such as changing over the utilities, registering the kids in new schools and ensuring everyone has your new address, something is bound to fall through the cracks.

Since you don’t know exactly how many people have keys to the home and who they are, put this one at the top of your to-do list.

Unless you’re opting for a smart lock, changing the locks on a door is a common DIY project and costs very little.

2. Locate your home’s main water shutoff valve

Scrambling to figure out how to shut off the water in your new home wastes precious time in an emergency. Scout out the location of your main water shutoff valve now and share the location with other household members.

Unfortunately, there are a number of places that it could be located. In cold-climate areas you’ll typically find the water shutoff valve somewhere indoors, such as in the basement. In warmer weather regions it may be located outdoors or in the garage. If the home is on a slab foundation, check for the valve near the water heater.

3. Secure your home purchase paperwork

Before putting away all those documents you signed at closing, make copies of them and store them in a safe place, off-site. No, you may not need to refer to this paperwork, but then again, you may, so it’s a good idea to keep everything.

While you’re in the paperwork groove, consider purchasing an accordion file and use it to hold all the paperwork you’ll accumulate as a homeowner. This includes receipts for repairs and improvements, insurance information and warranties.

When it comes time to sell the home, you’ll be glad you have all of this important information in one place.

4. Open a new savings account

Yes, you paid a whole lot of money at the closing table, but that was just the beginning of what it costs to own a home. Routine maintenance and emergency repairs need to be factored in as well.

“No new homeowner, myself included, can ever feel fully prepared for the maintenance costs and renovation costs associated with homeownership,” Pamela Capalad, a Brooklyn NY financial planner tells NerdWallet.com.

But a savings account, dedicated specifically to pay for home maintenance and repairs can go a long way toward being prepared.

Most financial experts say to set aside 1 to 2 percent of the home’s value each year for both maintenance and repairs. For example, if your home is worth $250,000, you should dedicate from $2,500 to $5,000 a year.

Make it less painful by having a monthly amount (from about $210 to $420) automatically deducted from your pay and sent to the dedicated savings account.

Deferring routine maintenance may impact your home’s future value, by the way.

5. Replace your air filters

Changing an old HVAC filter just one time is enough to convince many of us to make changing them a routine. Sadly, that isn’t the case. Many homeowners neglect this inexpensive and easy home maintenance chore and end up breathing in that brown fuzz that clings to old filters.

Not only that, but they’re setting the entire system up for failure. “A system that has a dirty filter can suffer from pressure drop, which can lead to reduced air flow, or ‘blow-out,’ resulting in no air infiltration at all,” according to Nick Gromicko and Kate Tarasenko for the International Association of Certified Home Inspectors (InterNACHI).

Change the filter in a busy household with kids and pets once a month, otherwise you may be able to wait three months before installing a new one. Learn how to change the filter at thefamilyhandyman.com.