GUIDE TO SELLING A HOME

Selling a home is equal parts science and art. The goal is a quick sale at the highest possible price and the best terms.

We asked our Preferred Partner for Residential Real Estate, Jack Woodcock with The Woodcock Real Estate Group, one of Berkshire Hathaway HomeServices – NV Properties largest and most successful home selling teams in Las Vegas to provide our readers with their formula for success. Jack outlined the following thoughts for LasVegasRealEstate.com readers:

The most important step in selling your home is pricing it correctly from the onset says Jack Woodcock. It’s a well-known fact that overpriced homes take longer to sell and usually sell for a lower price in the end. Since the majority of your showings will occur in the first 30 days on the market it is crucial that your initial list price matches buyer expectations and comparable market sales.

A qualified Residential Realtor is trained to use advanced market analysis software to build a comprehensive report that will accurately determine the optimal list price for a home.

To get top dollar for your home you have to make your home look its best says Jack Woodcock. A qualified Residential Realtor is trained to help you identify and prioritize repairs and improvements that will provide the best return on your investment.

To get you started, Jack Woodcock suggests these home improvement winners:

Minor Bathroom Remodel: Average return at resale: 102%. It costs about $10,500 to replace the tub, tile surround, floor, toilet, sink, vanity, and fixtures.  You’ll get back an average of $10,700 at resale, a recoup rate of 102%.

Use a softener like Caulk-Be-Gone to get rid of the old caulk. Fill the tub with water after you’re done to stretch caulk while it dries.

Remove dated wall coverings and apply a fresh coat of paint.  For damaged walls, spray-on texture provides quick coverage.

Replace old shower doors or remove them to add the illusion of space.

Note: Remodeling costs and return on investment are subject to change.

Landscaping: Average return at resale: 100%. Not sure where to start? Local garden centers often offer free design services or ask the neighbors what works for them.

Sod costs about 30 to 35 cents a square foot, so a 5,000 sq. ft. yard would cost about $1,500 to sod. Make sure you budget for a delivery fee if you buy less than 1,000 sq. ft. of sod.

A splash of color at the front of the house is an eye-catching plus. For maximum impact, use one color and vary the height of plants.

Note: Remodeling costs and return on investment are subject to change.

Minor Kitchen Remodel: Average return at resale: 98.5%. A minor kitchen remodel averages $14,913 for $14,691 at resale, a recoup rate of 98.5 percent. Do a minor remodel when your kitchen needs a cosmetic update and not a drastically different floor plan.

A $15,000 kitchen update covers 30 feet of re-facing for cabinets and drawers, a new wall oven, cooktop, sink and fixtures, laminate countertops and resilient flooring.

Put recessed lights 3’ to 5’ apart on center and 18″ from cabinets to light the countertops. Running the lights between two joists is easier than running through the joists.

If your home is worth more than $500,000, go with stone or trendy glass countertops.

Cover old vinyl with floor leveler so the pattern doesn’t bleed through. You can’t put a second layer of vinyl on if the subfloor is below-grade concrete.

Brighten up the kitchen by sanding and painting existing cabinets. It’s much less expensive than buying new ones.

Add decorator detail without the cost by changing drapes and window molding.

Note: Remodeling costs and return on investment are subject to change.

If your goal is to sell your home at the best possible price and on the best terms you should start with a very good marketing plan says Jack Woodcock.  When selling real estate, the object is to get your listing in front of as many potential buyers as possible all over the world.

A qualified Residential Realtor will invest heavily in website, social networking, email, direct mail and print campaigns that feature your listing in all the places where buyers are looking.

At the Jack Woodcock Group, when our clients hire us to sell their home we identify the ideal buyer and then develop and implement a tailored home marketing program designed to reach those buyers.

Successfully negotiating a real estate contract is more than a matter of luck or natural talents says, Jack Woodcock. When you receive an offer having an agent with a proven track record of bringing buyers and sellers together can make a huge impact on your final sales price.

A qualified Residential Realtor is a skilled negotiator who can help you get to the highest price a potential buyer is willing to pay, as well as the best terms, shortest contingencies, fewest repairs, and lowest closing costs.

Rather than approaching negotiations from an adversarial winner-take-all perspective, Jack Woodcock says he focuses on his clients’ top priorities and strives to keep emotions from overrunning the process.

While your home is on the market a qualified Residential Realtor will provide you weekly status reports that show the top prospects, a summary of feedback from showings, a review of completed and planned marketing activities and any recommended adjustments to course.

A terrific best practice Jack Woodcock recommends to all of his clients is to keep tabs on your home selling competition. Jack sets up an MLS search that notifies his client via email if a similar home in his/her neighborhood comes on the market, goes under contract, or closes escrow.  Knowledge is power.

Once our clients home goes into contract we use advanced online transaction management software to make sure the buyers, and their agent, follow through with their contractual obligations and we close escrow on time, says Jack Woodcock.

 

We refer residential Sellers to the Woodcock Real Estate Group for very
specific reasons: Service, Integrity, and Market Knowledge.
Click here to learn more: Preferred Partner: Residential Realtor

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