Common Pitfalls to Avoid When Selling a Home

 

The Boehmer Team assists home sellers across the St. Charles County and St. Louis metro area to make the most of their home sale. We like to educate our clients on pitfalls to avoid during the home selling process. Here’s a list we’ve put together of common home selling pitfalls we’ve seen an advised our sellers to avoid.

 

Selling It Yourself

There is tons of data showing that the typical “For Sale By Owner” (FSBO) route is not the best path. Think you’re saving yourself from paying a commission to an agent? True, but you’re likely missing the chance to make a lot more money. Unless you’re an expert at home marketing, know how to set the best price for the market, enjoy detailed contracts and paperwork, have lots of time to show your home and field calls, and are an expert negotiator, then you might have a chance of successfully selling your home yourself. Likely, all of these things don’t apply to you. Hire an a qualified agent and make more money. Currently less than 10% of all sellers sell their home FSBO while 90% use an agent.*

 

Hiring Family or Friends

While it might seem fun to work with a friend or family member to sell you’re home, there’s a few reasons why it isn’t the best idea. Your friend or family member may be lazier complacent and underperform with you because there is less pressure to impress and get future business and/or good reviews. Imagine if things go bad, will you be able to fully express your frustrations and concerns? What would it do to your relationship? Unfortunately, we’ve heard plenty of stories involving ruined relationships due to bad real estate transactions.

Not Interviewing or Researching Your Realtor

Even if a Realtor has years of experience, they may not be the best fit for you. Interview several agents to see if you like their communication style, their local expertise, particular specializations and their home marketing plan. Research the agents to learn about their business history and see customer reviews. Then choose the real estate agent or team that is the best fit for your needs.

 

Waiting for the Right Time to Sell

The right time to sell a home could be anytime. A good Realtor will advise you on what needs to be done to sell your home when you want to sell it. This could include making changes to present your home in it’s best light, or selling your home without changes at a price competitive to similar homes in the market.  A qualified and full time Realtor will be versed in the supply and demand that most affects the sales of homes like yours.

Pricing a Home Too High

We understand the thought to “test the market” with a high price. However, the usual result is the home being on the market for longer than necessary. Do you want to sell the home quickly at a good price or keep paying mortgage payments for months while you slowly lower the price to fair market value?

While there are many home value estimators online, ask a trusted Realtor to provide you with a comparative market analysis for the most accurate valuation of your home including any updates made to it for the best-suggested sale price.

Learn more about the dangers of overpricing here.

Refusing to Make Changes

When selling you want to present your home as best as possible. This includes making any necessary repairs, cleaning, decluttering, and neutralizing the décor to make the home most appealing to the maximum number of buyers. Homebuyers often point to repairs as a reason to offer less money on a home. Also, buyers can be turned off by highly specialized home décor that they will have to change. Be prepared to update your home in ways that will most appeal to buyers.

 

Skimping on Repairs or Hiding Issues

Beware leaving repairs unattended. Even small defects can turn buyers off. If they go through your home and find dirt, loose doorknobs, or leaky faucets, they’ll wonder if you’ve been neglecting bigger issues in the home as well.  In addition, most buyers get a home inspection after you accept their offer. If a major problem with your house comes up during the inspection, it could delay your closing date or even terminate the deal altogether.

Not Using Professional Photos

Most homebuyers will most likely see your home online. Therefor, you want to have the best photos of your home available for online viewers. The photos will indicate to buyers whether they want to tour a home in person or move on to the next home listing.

 

Limiting showings

Once you’ve put your home on the market, there will be requests to tour the home. Try to cooperate when your agent wants to show it. This may mean scampering out at dinnertime for a private showing, vacating for several hours or even most of the day for a weekend open house. The goal is to accommodate as many buyers as possible, even if their timing isn’t necessarily convenient for you.

 

Not Leaving for Home Showings

While you may be curious as to who is interested in your home, sticking around for showings does nothing but make everyone feel awkward. Leave any questions to the agent and allow the buyer room to tour the home without you being present. breathing down their neck. You don’t want to stand in the way of the buyer’s ability to see your house as their dream home.

Not Expecting The Costs of Home Selling

Be prepared for the costs associated with selling a home. A good Realtor knows how to best arrange your home sale with these costs in mind.

• Agent commissions.
  
• Closing costs: usually 1–3% of the home price including sales tax, title transfer fee, and title company closing procedures.
• Professional home staging. If needed, the costs vary depending on where you live, the size of your home, how many rooms you want to stage, whether or not you’ll be renting decor, and different pay structures including an initial consultation and monthly fee. On average, home staging costs around $525–2,000.
• Funds for repairs brought up by the home inspection. Depending on the seriousness of the issues that come up, repairing your house could cost hundreds or thousands. While that doesn’t mean you have to pay to fix it, buyers will expect a discount.
• Moving expenses like hiring movers or rental storage fees can add up too. Be sure to research these costs.

 

Taking a Low Offer Personally

An offer on your home is part of a business transaction and not a reflection of your home, décor or housekeeping abilities. Keep in mind that if the buyers are making an offer, it is because they really like your home. A low offer can be a starting point for negotiating a good counteroffer. A truly interested buyer will likely improve their original offer in negotiations.

 

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If you are considering selling your St. Louis or St. Charles County area home, interview The Boehmer Team. We’re an open book of real estate knowledge that we’re ready to share with our clients. Working with a team is a plus, allowing us to offer superior service, expertise in each area of a transaction, and ensures a qualified agent will always be available for your questions or needs. Learn more about us and our award-winning services at www.TheBoehmerTeam.com. 

 

*Data from Realtor.com

 

Find a Home Faster with a Realtor

Homebuyers in the current real estate market, whether in St. Louis, St. Charles County or beyond, are facing more competition as low inventory of available homes for sale persists. Some are getting discouraged at the amount of time and number of tries it can take to find the right home for sale and get a contract accepted. But there is no need to give up on the search for a new home. Working with an experienced Realtor and/or real estate team can make the process easier and faster.  That being said, if you are competing with cash offers and buyers that are willing to waive all of their rights, your agent will help you understand the possible dangers of those decisions.

Learn of Homes For Sale Quicker

Working with a Realtor that provides information on new homes as they hit the market or that are coming soon to market will give you an edge. Realtors, particularly at larger brokerages, know of listings that have yet to hit the market. They also have access to local multiple listing service systems that can often provide updates of homes for sale before they hit the national websites. In a competitive market, this extra time may make the difference in getting your offer submitted and accepted before others find the listing.

A Resource for Community Information

When trying to find a new home in a competitive market, the local area around a home of interest may seem less of a concern than actually procuring the home. This is a good time to have a Realtor in your pocket. Realtors know communities and often have information about the local area like roads, other neighborhoods or commercial properties being built nearby that may be of concern to the home buyer.

Experienced Real Estate Negotiator

When you find the home that’s “the one” it can be easy to allow emotions to get involved in negotiations. Or, you may lack the experience needed to ensure you position your offer to secure the home. As a result, it may take longer to get a deal finalized. Using an experienced Realtor to handle all negotiations will more than likely get things done more efficiently and at a better price than you probably could have negotiated yourself.

Help with Paperwork and Closing

Real estate transactions involve a lot of paperwork and legal forms. If you try to handle this on your own, mistakes could be made that prevent a transaction from being completed or throwing your purchase into chaos at closing. By letting your Realtor take charge of the paperwork and closing, a purchase can be done professionally and accurately. From making sure the title to the property is clear to ensuring the lender has met all deadlines on financing, a Realtor will help create a smoother, faster closing.

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Don’t just trust any Realtor; be sure you have an experienced Buyer’s Agent like those on The Boehmer Team to represent you. If you walk into a home for sale unrepresented and use the Realtor listing the home, their first duty is to their home seller. So contact The Boehmer Team to talk to our dedicated Buyer’s Agents or to get listing updates from our local MLS to see the type of homes you want as they hit the market in real time.

 

Questions to Ask a REALTOR® When Listing Your Home

If moving is on your mind, you should talk to a REALTOR. An experienced local real estate agent can answer all your questions. But do you know what questions to ask? To help, we've made a list of questions to ask a REALTOR when listing your home.

How should I price my home?

This is a question that no online estimator or Zillow “zestimate” can answer accurately. It is imperative that you speak to an experienced REALTOR for correct pricing. A REALTOR has access to the most current information on the local market and can take into account upgrades and high-end finishes comparable to your recent neighborhood home sales to get you the most accurate price. Expect the REALTOR to share their research and data with you so you can better understand their findings and price suggestions. A quality Realtor should want to review the details with their sellers.

How many sales did you complete last year?

Did you know that the average real estate agent only sells about 6 homes a year? An agent/team that works with a higher volume of clients makes more buyer and seller connections that help sell homes quicker. For the last 7+ years The Boehmer Team has consistently closed over 300 home sales per year. This is why we are the top real estate team in St. Charles County.

What is your marketing plan for my home?

A quality marketing plan should include a variety of strategies to reach other agents as well as consumers searching for homes.  The Boehmer Team's “Maximum Exposure Marketing Plan” encompasses various tools and resources which have proven to be successful in the home selling process. During their listing presentation, The Boehmer Team will thoroughly review the full marketing plan.

How many websites will include information about my home?

Hundreds. The Boehmer Team’s listings are submitted through Maris MLS IDX feed to all local area real estate company websites. In addition, your listings are submitted to the major national websites and promoted through the BHHS Select Properties Relocation Program as well as numerous social media platforms.

Do you have advice for me about the condition of my home?

The Boehmer Team assists home sellers in determining small tweaks or updates that may result in higher net profit from their home sale. We'll share our experience of what buyers are looking for to help you make your home the most valuable in their eyes.

Can you recommend contractors and moving companies?

During our numerous years in the real estate business, we have gathered quality resources that can assist both buyers and sellers in the home sale and moving process. We are full service Realtors, at your service for life.

Why should I hire you or your team to sell my home?

Any quality agent or team should be prepared to handle and answer this question. For more information on why The Boehmer Team is your best choice in listing your home, contact us today!

 

 

What To Look For At Home Showings

Most people begin the home buying process by looking at homes online and prioritizing their must-have features. Next contact a qualified real estate agent to show you homes. This agent can also recommend reputable lenders to get you pre-approved for a mortgage to clarify the price range you can afford. Completing these things prepares you to make the best out of seeing homes for sale in person and make an offer on the perfect house as soon as you find it.

It is a good idea to wear slip-on shoes as many well-prepared homes will have new carpet, and often the listing agent will have posted a "please remove shoes" sign to help keep the flooring clean. So what should you look for to make sure that you are getting a quality home for your money?

What To Look For On The Outside Of A Home For Sale

Curb Appeal

Minor cosmetic defects such as ugly paint and missing spots of grass are easily correctable, while structural defects and the location of the home are not. Buying the worst looking home in the best neighborhood is often a good bet for getting a great house.

Landscaping

Does the yard need a lot of landscaping and maintenance? Is there sufficient drainage in the area? If you love to garden a home with landscaping needs could be a great opportunity to get a home that others might bypass. However if you don’t want to spend time working in the yard a home needing lots of landscaping may be too much of a hassle or it could be as simple as hiring a landscaper.

The Roof

What is the condition of the roof?  The roof is one of the most expensive features of a home and lasts 15 – 20 years. Find out how old it is or if there are any issues with it.  Are the gutters in good shape? Make sure they drain several feet away from the house.

The Neighborhood

Check out the property at different times of day. Are people out sitting on porches? Are kids playing outside? Is it noisy? You are bound to learn and discover different things about the house each time.

What To Look For On The Inside Of A Home For Sale

Storage

Open the closets and cupboards. Is there enough storage space? Will you need to add organization to the storage space to make it work for you?

Leaks

Study the ceilings for telltale signs of stains or of a recent patch job. Those could indicate a leaky roof or plumbing system. Use your nose to smell for mold and also check for moisture and mold in basements.

Plumbing

Check the taps. Is the water pressure good? Does the water drain easily? A few simple checks can help a buyer beware of any issues.

Electrical

Check the light switches. Do they work? Are there enough outlets? How old is the electrical system? Electrical repairs can be expensive so it is good to make sure everything is in good working condition.

The Structure

A small crack or two in the foundation is common in homes due to settling. If there are a lot of cracks or large ones, have a home inspection before you buy to identify any problems and make sure you know how much it will cost you to deal with any structural issues.

Other Things To Consider When Looking At A Home For Sale

Take Visual and Written Notes

If you view lots of homes in the same day it is easy to get them mixed up, so be prepared to take notes, with a pen and notebook and a camera. Note the most remarkable features - both positive and negative - and attach your notes and pictures to the listing sheet for future reference.

Try To Ignore the House Contents  Sometimes it is the contents of the house and its presentation that appeals/or doesn't to a homebuyer. However the contents are not the house itself, stay rational.

Hold the Trash Talk 

The sellers may be listening as they are sometimes just steps outside or next door. Sellers don't always understand that it's the most interested buyers who pick the place apart to figure out exactly what they will need to do to it to make it theirs. If you end up in a multiple offer situation, you don't want to have an uphill battle because you badmouthed the sequined butterfly "artwork" the seller had hanging in the hallway.

The Boehmer Team

The Boehmer Team includes experienced agents with a dedicated buyers agent available to assist with the needs specific to homebuyers. Contact The Boehmer Team to find the home of your dreams in the area and price range you want.

Additional References:

http://www.streetdirectory.com/travel_guide/69516/real_estate/tips_for_buyers_how_to_tour_a_home_like_a_professional.html

http://www.hgtv.com/design/real-estate/house-hunting-mistakes-to-avoid

Do Open Houses Have Value?

Home sellers listing a St. Louis or St. Charles County home for sale are often most interested in how to best market the home. This is an area where Realtors can offer their experience, connections and marketing systems to get the home the attention it needs to sell in a busy marketplace. An important part of good home marketing plan is holding an open house so that potential buyers can physically tour the inside of the home. Open Houses also allow a non-pressuring opportunity to view a home at your own pace. 

Of course there are ways to see the inside of a home without holding an open house. We take great listing photos and create video tours. New technology even offers 3-D models of homes. But even after implementing all of these strategies, homebuyers ultimately want to tour a property for themselves to take in the details that pictures don’t impart. For example, photos can be very forgiving as lenses and lighting can conceal dirt, defects, broken window seals and smells. Often times, a home has an entirely different feel from the photos used to market the home. 

It’s true that individual showing appointments allow buyers to tour a home for sale with their buyer’s agent. But this means that at any time, your home will need to be available and ready to be toured by buyers. Holding an open house creates a specific time that homeowners can prepare for where multiple potential buyers can tour the property.

Holding an open house also creates more marketing opportunities. In addition to marketing your home for sale, your Realtor can market the open house via special signage, print marketing, Realtor network marketing, email marketing, open house listings, and open house searches on hundreds of websites.

Visitors attending an open house are required to sign-in with their name and contact information. This enables your Realtor to follow up with potential buyers that attended the open house. They can answer any additional questions open house attendees may have as well as alert them to any changes to the status of the listing whether it is upgrades, price changes or other items.

So the answer to, “do open houses have value?” is, “yes!”  If you interview an agent that is not interested in holding open houses, more than likely they do not want to hold open houses.  At The Boehmer Team, we find open houses to be extremely beneficial and often result in a sale.  Check out the great tips we’ve put together to assist you including: preparing a home to sell and seller etiquette for open houses. Also, you can search our blog for even more helpful information to help you sell a home for the most profit.

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If you are considering listing a St. Louis or St. Charles County area home for sale, contact The Boehmer Team. We expertly implement open houses as part of our maximum exposure home marketing plan. You can rely on our 55+ years of real estate experience to deliver a successful home sale. Contact us to set up a time to interview us about how we can help you sell your home for the most value.

The Truth About New Construction “Specialists”

It seems that more and more Realtors are marketing themselves as a “New Construction Specialist”.  We see a lot of real estate agents in St. Louis and St. Charles County, Missouri use this term every day, and it brings about a fair question in our opinion.  What exactly is it that makes them a “Specialist” in the area of New Construction?  

 

It appears that most of these Realtors are branding themselves as “New Construction Specialists” because they have represented an undisclosed number of buyers that have purchased new construction.  However, having sold 2, 3, 5 or more new construction homes does not make you a specialist by any measure.  Even ten or more sales merely make you better versed in new construction, certainly not a “Specialist”.

We are fortunate in our profession that we can brand ourselves any way we choose.  Often times, it can be a misleading claim that consumers fail to question or confirm.  There are several things to consider when hiring a Realtor with claims of being a New Construction Specialist”. 

• How many buyers have they represented purchasing New Home Construction?
• How many different builders have they worked with when representing a buyer?
• How many different neighborhoods have they represented a buyer in when purchasing new construction?
• Do you accompany your clients on the contract, structural meetings, walk throughs, color selections, etc.?
• Have they ever worked on the builder side of the business?
• If so, in what capacity?
• Have they ever represented a builder in new construction sales?
• If so, how many homes did they sell and how long did they sell?
• What price range of homes did they sell for the builder?
• Are they familiar with the builder side of the business regarding land costs, development costs, building and material costs, supply and demand challenges, customer service policies and material specifications? Working on the “builder side” also means representing the builder as a community sales representative, construction manager, service representative or any position where you work directly for the builder.
• How do they feel they add value as your buyer representative for new construction?
• Do they have any professional designations that they have earned regarding New Construction?
• Are they a certified New Construction Specialist as recognized by the National Association of Realtors (NAR)?
  
  

Truth be told, in order to be branding yourself as a “New Construction Specialist”, at a minimum you should have a designation from NAR or your brokerage.  The course should be detailed and include 40 or more hours of training by a qualified professional.  An agent should also have sold a variety of new construction homes, in a variety of municipalities, by a variety of builders in varying price ranges.  

 

The most experienced Realtors are those that have served 10 plus years on both sides of the transaction, both the builder side and the brokerage side.  An added bonus is a Realtor that has had the opportunity to spend time not only selling new construction as a builder representative, but serve time at a management level understanding the challenges that builders face every day.  

 

If you are looking for assistance with your new home construction purchase, contact The Boehmer Team.  We meet the criteria and will put our knowledge and expertise to work for you. 

 

 

How to Survive A Competitive Sellers Market

St. Louis and St. Charles County area homebuyers: we hear you. It can be a challenge right now if you are looking to purchase the perfect home. Chances are you’ve found it - a few times - only to find out there is already a contract and backup contract on the home. So here is some great advice to help you survive the current competitive sellers market.

Start Early

As soon as you decide you are going to purchase a home get started with the process. How do you start?  By interviewing or contacting a qualified, full service Real Estate Agent that knows your desired area.  Select a full time, professional Realtor that has the resources and expertise to find the right home for you in this competitive market.  Ask your Realtor this question, “What resources would you use to best find me a home, possibly before it hits the market, and what strategies would you use to help me secure that home?”  Don’t be afraid to ask for a testimonial from a recent buyer client.

Get Pre-Qualified for a Home Loan

Your Realtor will have excellent Lenders that will help evaluate your buying position. Without knowing how much you can afford, you can’t confidently jump on the perfect home as soon as you find it. If you aren’t paying cash contact a reputable loan officer to help you determine how much you can afford and get you pre-qualified.   
It is important that you get pre-qualified for a home loan, as it is expected to be submitted with your offer to purchase. This process will qualify you for a home loan and help you determine the amount you can spend on a home. It also shows home sellers that you are serious about purchasing their home, which is expected in all home-buying situations.

Need help finding an experienced mortgage loan officer?
Contact The Boehmer Team for a list of recommendations.

Determine Your Must-Haves

What are the items that you cannot live without? Make a list of the things you must have in your next home. Keep in mind that the longer the list, the longer your home search could be in this current competitive market. If you still can’t find the perfect home, consider an almost perfect home that is under budget. This way you can make it into the perfect home with the money that you didn’t spend.

Search For Your Perfect Home

Now that you’ve figured out your finances, determined your must-haves and connected with an experienced real estate agent, you’re ready to begin searching for homes. Your real estate agent will be assisting you with this process by searching through their various contacts and systems. One suggestion, consult a real estate professional regarding the most accurate and updated resources for your home search. Many national home search websites, such as Zillow,  only update their listing data every few days. In a competitive market many of the homes that appear on those search results will already have a contract on them by the time you find them. Instead, try www.TheBoehmerTeam.com. Our website gets multiple listing data updates hourly and has more accurate local information.

The Boehmer Team Can Help

Are you thinking of purchasing a home in the St. Louis or St. Charles County area of Missouri? The Boehmer Team can help. We have over 55+ years of combined experience in real estate. We’ve seen buyers markets and sellers markets and made the best of both. Contact us if you have any questions about real estate or help buying or selling a property.  In addition, we have extensive experience representing buyers purchasing new home construction and consider ourselves experts in the field of new home construction.