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Michele McCurdy Marketing Affordability Written by: Michele McCurdy
Issue: January 2012 | NSIDE Business
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Marketing your home to sell

There could be two homes listed at around the same price. They could be located in the same neighborhood, have similar square footage and have the same number of bedrooms, and they might even look very similar. However, one could end up costing the buyer thousands of dollars more than the other over a period of years.

There are many factors that can add up to higher monthly bills than expected. Anything from high utility bills to an impending roof replacement can cause monthly bills to be higher than a buyer expects. On the contrary, properties with energy-efficient windows, newer appliances, proper maintenance and upkeep and a clean inspection from a qualified inspector can result in significantly lower ongoing costs for the new homeowner.

While there’s no way to predict all of the surprise costs that will inevitably arise with a home, it’s a wise practice for buyers to evaluate affordability beyond the asking price. Therefore, as a seller, be sure to enlist the expertise of a business professional as your listing agent and communicate to your agent the importance of letting buyers know the true cost of living in your home. Here are some strategies that are worth exploring:

Confront the buyers’ worries

Buyers are often very apprehensive about what they are not able to see. Their common questions range from, “Does the property have foundation problems, water damage or working appliances?” to “What is the age of the roof, and how old is the hot water heater?” Since most buyers do not hire an inspector until they have made a decision to purchase a home, you can help put their minds at ease by communicating with your agent any work or maintenance that has been done and highlighting any special features about your home. If you’re a seller and you have a 5-year-old roof or a hot water heater that is a year old, highlight that feature on your seller’s disclosure form. It also helps provide your real estate agent with receipts and warranties for work you have done on the home.

Use bills as part of your marketing plan

Some buyers ask to see the utility bills for a property before making a purchasing decision. Therefore, it is a good idea to list and declare your utility costs for the most recent three-month period in which the property has been occupied. We, as real estate practitioners, could be doing a better job of sharing information about housing costs with potential buyers, especially in cases where the electricity, gas or water bill is less expensive than comparable houses in the neighborhood. Your agent can accomplish this by leaving a copy of this list in the home with the seller’s disclosure, placing it at open houses with other related information about the home or including it in the associated documents in MLS. Also, be sure to explain why the costs are lower. For example, the home might have a special energy package or special insulation.

Highlight these features in MLS

Key features in homes that buyers are likely willing to pay for are things such as double-pane windows, Energy Star-compliant appliances, “Energy Star Certification,” Radiant Barrier Roofs, water-safe commodes and programmable thermostats. These items need to be included in the MLS write-ups and highlighted as amenities. Energy-efficient homes are very appealing to buyers, especially in today’s economy when people are looking to save money on their monthly expenses. Take a close look at what’s been entered into the MLS for your home, and make sure all of the wallet-friendly features are included.

Get an inspection before you list your home

Real estate trends show the highest level of sales activity during the spring and summer months; therefore, it’s important to make your home the most desirable and affordable for your neighborhood and the market. Before you list your home, consider having a qualified inspector examine your home so there are no surprises for you or your potential buyers. It is important to remember, however, that any inspection you have performed has to be disclosed on your seller’s disclosure form. Be sure to discuss the pros and cons with your real estate professional. Getting your home inspected before you list can allow you the opportunity to address those issues that you and potential buyers are not able to see. Even though you disclose an inspection report that is imperfect, it puts a buyer’s mind at ease to know that those issues have been addressed.

For more information contact Michele McCurdy, broker/owner of Michele McCurdy Real Estate and CEO of McCurdy Real Estate Investments, Inc., at michele@michelemccurdy.com, or visit her Web site at www.MicheleMcCurdy.com.

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