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Home Inspections For Sellers: How To Prepare

(Published on - 8/17/2024 6:35:31 PM)

Some Highlights

  • If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.
  • As supply grows and buyers regain negotiation power, you may find you want to do some select repairs with a good return on investment before listing to get ahead of things a buyer may ask you to fix.
  • To decide what's worth tackling, you need expert advice. Reach out to a local real estate agent so you know what to prioritize.

Source: Keeping Current Matters

Realty Executives Midwest

1310 Plainfield Rd. Ste 2 | Darien, IL 60561

Office: 630-969-8880
E-Mail: experts@realtyexecutives.com


Before You Box: How to Host a Profitable Pre-Move Garage Sale

(Published on - 8/10/2024 6:29:44 PM)

There is nothing quite like a big move to spur a reassessment of everything you own. As you begin preparing to pack, you’ll likely discover a myriad of items you no longer need or want. Don’t just toss the things you won’t be bringing to your new home. Instead, it is time to plan a mega garage sale. A pre-moving garage sale is an excellent way to declutter, reduce moving costs, and even earn extra cash to help with your moving expenses.

A garage sale featuring several items that need to be rehomed before moving.

Planning Your Pre-Move Garage Sale

Pulling off a successful garage sale takes time, effort, and good planning. To start, choose the right day or time for your event. If your community or neighborhood already hosts a yearly garage sale event or swap meet, hitch your garage sale wagon to that train if the dates work for you. Otherwise, Saturdays are usually the most popular day to host a garage sale.

Start your sale early, around 7 or 8 AM, to attract early bird shoppers and make the most of the day. Most garage sales wrap up around noon or 1 PM. As the day gets closer, double-check the weather. If it looks like rain, storms, or extreme weather is coming your way, consider moving your garage sale to a different weekend. Poor weather keeps potential shoppers at home and can drag down your sales.

Finally, if you live in an HOA, check the rules to make sure you are allowed to host a garage sale. You may need to request a permit or adhere to specific rules and guidelines.

Preparing Your Items for Sale

Now that you have a date for your pre-moving garage sale, it is time to decide what you want to sell. This can also be a great opportunity to start organizing items for your move and deciding what (if anything) you want to move into self-storage (learn about common storage FAQs).

Choose What You Want to Sell

Go room by room and sort every item into one of several categories. Your categories may vary, but we suggest:

  • Keep and move
  • Keep and store
  • Sell
  • Give to friends or family
  • Donate
  • Toss

Be ruthless in your decision-making. If you have not used an item in a year or two or if it no longer serves you, put it in the “sell” pile. Remember, the more items you sell at your garage sale, the fewer things you will have to pack and haul to your new home.

As you sort through your belongings, set aside and dispose of any items that are broken, damaged, or heavily worn. Once you decide what to sell, check, clean, and repair each item as needed. Make sure all electronics work, games include all their pieces, and clothes do not have holes or stains.

Pricing Your Possessions

Be realistic and price your items to sell. People who visit garage sales are looking for good deals. If you are not sure what to price your items, a good rule of thumb is to price at least 50% below what you originally paid for them. You can also check Facebook Marketplace, OfferUp, eBay, and Craigslist to see what comparable items are selling for.

Place clear, easy-to-read price tags or stickers on every item. Be prepared to negotiate, as many garage sale shoppers love to haggle, but always keep a firm minimum price in mind for every item.

Displaying Your Items

On the day of your garage sale, get up extra early and spend time setting out and displaying your items. Presentation matters. Your tables should look neat, not cluttered. Avoid piling or stacking items, like books, clothes, and games. If you can, display clothes on a clothing rack, set out shoes in pairs, and line up books, games, and puzzles.

Group like items together and use clear signage to indicate prices and categories. Consider eye-catching displays, such as showcasing a unique item on a decorative table. Get creative and help your garage sale stand apart.

Promoting Your Pre-Move Garage Sale

It would be sad if you put in all the work and effort to host a pre-move garage sale only to have no one show up. If you happen to be participating in a neighborhood garage sale event or local swap meet, the event’s organizer should manage most of the promotion. Otherwise, it is up to you to get the word out.

Online Promotion

Begin by promoting your garage sale online. Places to list your sale include:

  • Online classifieds
  • Craigslist
  • Facebook Marketplace
  • Nextdoor
  • Facebook groups for your city or community
  • Neighborhood text chains

When promoting your sale, highlight that it is a moving sale, which often implies a bigger sale with a wider array of items. Include your address, the time of your garage sale, and any notable items you will be selling. Post pictures if possible. Reach out to local friends and family members and encourage them to share the news with their networks.

Signs

Creating eye-catching signs is one of the most effective ways to promote your garage sale. Make your signs big, colorful, and easy to read. Write in large, thick letters so your signs will be readable to people driving down the road. Include a big headline announcing your moving sale, address, and the time of your sale.

Put your signs at the front of your neighborhood and along nearby intersections and busy roads. Use signs with arrows to guide drivers to your home, especially if you live out of the way or in a large subdivision.

Finally, put your signs up a few days before your garage sale so people have time to plan a visit.

Running a Successful Garage Sale

The big day is here. You have already done all your marketing, gotten up early to set out your items, and made sure your things are well-organized and clearly priced. Now, it is time to focus on running a smooth and successful garage sale.

Cashier’s Table

Set up a cashier’s table in a central location where you can greet visitors, answer questions, and handle transactions. Keep plenty of change on hand, including small bills and coins. Price items in increments that are easy to make change for, like $0.25, $0.50, $1, $5, $10, etc.

Many younger shoppers prefer using payment apps like Venmo and Zelle instead of carrying cash. Savvy garage sale hosts can cater to these shoppers by opening accounts and displaying printed sheets with payment app QR codes at the cashier stand.

Interacting with Shoppers

Greet visitors to your garage sale and let them know you are happy to answer any questions about the condition, origin, and age of your items. Remember, many garage sale shoppers are hunting for a good deal, so be prepared to negotiate and haggle. Always be friendly. It is okay to politely decline a lowball offer and suggest a higher price. Toward the end of your garage sale, consider offering bigger discounts to get rid of the things that are not selling.

Wrapping Up and Moving Forward

Congratulations! You have made it through your pre-move garage sale. Hopefully, you were able to successfully rehome your unwanted possessions and make a little extra cash in the process. Now you can move forward with deciding what to do with any unsold items.

If you still think you can sell the items, consider posting them on Facebook Marketplace, OfferUp, or other online sales platforms. Price them to sell quickly, especially if your moving date is quickly approaching.

For everything else, a great option is to donate to a local charity or thrift store. Many organizations will arrange to pick up donations from your home. If you have anything you cannot donate or sell, your final option is to dispose of the items responsibly.

With your garage sale complete and remaining items taken care of, it is time to focus your attention on preparing for your big move. Hopefully, your home is a little less cluttered, and you have extra cash in your pocket to help cover your moving expenses.

Good luck with your move!

Source: Realty Executives

Realty Executives Midwest

1310 Plainfield Rd. Ste 2 | Darien, IL 60561

Office: 630-969-8880
E-Mail: experts@realtyexecutives.com


Home Buyers & Sellers: Here's What the NAR Settlement Means for You

(Published on - 8/3/2024 4:01:07 PM)

Homebuyers

Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you. NAR’s recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.

Here is what the settlement means for homebuyers:

  • You will sign a written agreement with your agent before touring a home.

  • Before signing this agreement, you should ensure it reflects the terms you have negotiated with your agent and that you understand exactly what services and value will be provided, and for how much.

  • The buyer agreement must include four components concerning compensation:
    1. A specific and conspicuous disclosure of the amount or rate of compensation the real estate agent will receive or how this amount will be determined.

    2. Compensation that is objective (e.g., $0, X flat fee, X percent, X hourly rate)—and not open-ended (e.g., cannot be “buyer broker compensation shall be whatever the amount the seller is offering to the buyer”).

    3. A term that prohibits the agent from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer; and,

    4. A conspicuous statement that broker fees and commissions are fully negotiable and not set by law.

  • Written agreements apply to both in-person and live virtual home tours.

  • You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.

  • The seller may agree to offer compensation to your agent. This practice is permitted but the offer cannot be shared on a Multiple Listing Service (MLS)— MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.

  • You can still accept concessions from the seller, such as offers to pay your closing costs.

Here is what the settlement doesn’t change:

  • Agents who are REALTORS® are here to help you navigate the homebuying process and are ethically obligated to work in your best interest.

  • Compensation for your agent remains fully negotiable, and if your agent is a REALTOR®, they must abide by the REALTOR® Code of Ethics and have clear and transparent discussions with you about compensation. When finding an agent to work with, ask questions about compensation and understand what services you are receiving.

  • You have choices. Work with your agent to understand the full range of these choices when buying a home, which will help you make the best possible decision for your needs.

Home Sellers:

As a home seller, you have a wide range of choices when it comes to listing your home. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate this complex process and make the choices that work best for you. NAR’s recent settlement has led to several changes related to broker commissions that benefit sellers, and we wanted to clearly lay them out for you.

Here is what the settlement means for home sellers:

  • You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.

  • Your agent must conspicuously disclose to you and obtain your approval for any payment or offer of payment that a listing broker will make to another broker acting for buyers.

  • This disclosure must be made to you in writing in advance of any payment or agreement to pay another broker acting for buyers, and must specify the amount or rate of such payment.

  • If you choose to approve an offer of compensation, there are changes to how this can happen.

  • You as the seller can still make an offer compensation, but your agent cannot include it on a Multiple Listing Service (MLS)—MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.

  • Your agent can advertise your listing via off-MLS platforms such as social media, flyers and websites.

  • You as the seller can still offer buyer concessions on an MLS (for example, concessions for buyer closing costs).

 

Here is what the settlement doesn’t change:

  • Agents who are REALTORS® are here to help you navigate the process of selling your home and are ethically obligated to work in your best interest.

  • Compensation for your agent remains fully negotiable, and if your agent is a REALTOR®, they must abide by the REALTOR® Code of Ethics and have clear and transparent discussions with you about compensation. When finding an agent to work with, ask questions about compensation and discuss what you would like to offer buyers.

  • You have choices. Work with your agent to understand the full range of these choices when selling your home, which will help you make the best possible decision for your needs.

These settlement practice changes will go into effect August 17. More details about these changes and what they mean can be found at facts.realtor.

 

Source: https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means
https://www.nar.realtor/the-facts/homebuyers-what-the-nar-settlement-means
 

Why Working with a Real Estate Professional Is Crucial Right Now

(Published on - 7/27/2024 6:49:57 PM)

Why Working with a Real Estate Professional Is Crucial Right Now

Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with a real estate expert can offer insights and advice that make all the difference.

While today’s market conditions might seem confusing or overwhelming, you don’t have to handle them alone. With a trusted expert leading you through every step, you can navigate the process with the clarity and confidence you deserve.

Here are just a few of the ways a real estate expert is invaluable:

Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.

Experience – In today’s market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changing right now.

Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties, and advocates for your best interests throughout the entire transaction.

Industry Expertise– Knowledge is power in today’s market, and your advisor will simply and effectively explain processes, market conditions, and key terms, translating what they mean for you along the way along the way­.

Pricing – A real estate professional understands current real estate values when setting the price of your home or helping you make an offer to purchase one. Pricing matters more than ever right now, so having expert advice will help ensure you’re set up for success.

A real estate agent is a crucial guide through this challenging market, but not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success.

Finding an expert real estate advisor – not just any agent – should be your top priority if you want to buy or sell a home. As Bankrate says:

“Real estate is very localized, and you want someone who’s extremely knowledgeable about the market in your specific area. You should also look for someone with a successful track record of negotiating and closing deals, preferably for homes similar to the kind you want to buy.”

What’s the Key To Choosing the Right Expert?

Like any relationship, it starts with trust. You’ll want to know you can depend on that person to always put you and your best interests first. That means hiring a true professional. As Business Insider explains:

“As long as you’ve properly vetted the agents you’re considering and ensured they have the necessary expertise, it’s ok to go with your gut when making your final decision on which real estate agent you want to work with. You’re going to be working closely with this person, so it’s important to choose an agent you’re comfortable with.”

Bottom Line

It’s critical to have an expert on your side who’s well-versed in navigating today’s housing market dynamics. If you’re planning to buy or sell a home this year, connect with a real estate professional who will give you the best advice and guide you along the way.

Source: Keeping Current Matters

Realty Executives Midwest

1310 Plainfield Rd. Ste 2 | Darien, IL 60561

Office: 630-969-8880
E-Mail: experts@realtyexecutives.com


Why Fixing Up Your House Can Help It Sell Faster

(Published on - 7/24/2024 2:43:04 PM)

If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready. A recent press release from Redfin explains:

Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.”

It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if your home is outdated or needs some work, buyers might pass it by or offer a lower price than you were hoping for.

And there are a lot of homes that need upgrades right now. Millions are entering their prime remodel years, meaning they’re between 20 and 39 years old. Maybe yours is one of them. According to John Burns Research and Consulting (JBRC), the number of homes in their prime remodel years is high and growing (see graph below):No Caption Received

If your house falls into this category, it’s important to consider making selective updates to help it appeal to buyers, so it sells faster. But how do you know where to spend your time and money?

Why You Need a Real Estate Agent

By working with a local real estate agent to be strategic about the improvements you make, you can be sure you’re making a smart investment. Put simply, not all upgrades are worth the cost. As Bankrate says:

Before you spend money on costly upgrades, be sure the changes you make will have a high return on investment. It doesn’t make sense to install new granite countertops, for example, if you only stand to break even on them, or even lose money.”

 And, as that same Bankrate article goes on to say, that’s where a local real estate agent comes in:

“. . . a good real estate agent will know what local buyers expect and can help you decide what needs doing and what doesn’t.”

Your agent will know what buyers in your area are looking for and what they’re willing to pay for it. By working together, you can avoid spending money on upgrades that won’t pay off. Instead, they’ll fill you in on which changes will make your house more appealing and valuable.

Bottom Line

Selling a house right now requires more than just putting up a For Sale sign. You need to make sure it’s in good condition to attract buyers who are willing to pay today’s high prices.

The way to do that is by making smart improvements that will give you the best return on your investment. Work with a local real estate agent so you know what buyers are looking for and what your house needs before selling.

Source: https://www.keepingcurrentmatters.com/2024/07/17/why-fixing-up-your-house-can-help-it-sell-faster

 


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