Jennifer Butler, REALTOR® - HOW TO SELL YOUR VACANT HOME

HOW TO SELL YOUR VACANT HOME

Jennifer Butler er Butler, REALTOR®

Table Of Contents

Introduction

To Rent or to Sell? That Is the Question

Not Living in Your Home Makes It Easier to Sell 10

Steps to Selling Your Vacant Home

Choosing the Right Agent

Why Changing Things and Small Improvements Can Gain You Thousands

Marketing a Vacant Home

Using Curb Appeal to Sell Your Home for More 36

Importance of Good Pictures

10. Staging Solutions and Options

11. Safety Points While Selling a Vacant Home

12. Selling a Home Out of State

13. Negotiating While Selling a Vacant Home

14. A Good Agent Can Help Sell a Vacant Home 80

15. Mistakes to Avoid While Selling a Vacant Home 88

16. Closing the Sale on a Vacant Home

Preface When I first ventured into the real estate industry years ago, I did so with the hopes of helping sellers like you avoid the headaches often associated with the home-selling process. In my years of experience, not only have I helped alleviate the stress of selling for numerous clients, but I’ve also accumulated years of knowledge to help them get more money for their homes in the least amount of time. I decided to share all of my expertise in one place with potential clients. And that’s why you’re receiving this book. I want to help you have the best possible home-selling experience. And by that, I mean I want you to 1. Get the most money possible for your home, 2. Sell in the least amount of time, and 3. Avoid the headaches most commonly associated with the home-selling process. Think of this book as my gift to you. It contains insider advice on the home-selling process to help you achieve your ultimate real estate goals, including: • Secret strategies to sell your home for more money • Marketing techniques employed by top agents • Advice on how to appeal to today’s buyers • And much, much more If, after reading through it, you want to hire me to help you sell your home, I’d be more than happy to meet with you to discuss a specific plan to sell your home. Happy reading!

About Jennifer Butler er Butler With over 18 years of experience in real estate, Jennifer Butler brings unmatched expertise, dedication, and a client-first mindset to every transaction. Currently serving the Portland Metro area as a licensed broker with Pellego, Jennifer helps buyers, sellers, and investors navigate the market with confidence — whether they’re looking for their first home, cashing in on well-earned home equity, or flipping their next investment property. Jennifer began her real estate journey in 2007 in Utah, diving headfirst into one of the most challenging markets in history during the 2008 housing crash. Her team successfully closed hundreds of short sales during that time, which sharpened Jennifer’s skills in negotiation, creative problem solving, and adaptability — qualities that continue to define her work today. After relocating to Oregon to be closer to her children and grandchildren, Jennifer is reestablishing her business in a new market while bringing the full depth of her experience to her new clients. Specializing in real estate investment, Jennifer is a certified investor through WREIN — the Women’s Real Estate Investors Network — and works extensively with both new and experienced investors. She is highly active in multiple investor groups and excels at identifying undervalued properties, analyzing market trends, and guiding clients toward high-yield opportunities in residential and multifamily markets nationwide. From helping clients build rental portfolios to sourcing off-market deals, Jennifer takes a strategic, numbers- driven approach that prioritizes return on investment and long- term growth.

As a REALTOR® and licensed Oregon broker, Jennifer is equally

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passionate about serving traditional buyers and sellers. Known for her integrity, professionalism, and down-to-earth personality, she makes the buying and selling process smooth, fast, and efficient. Clients consistently praise her for being relatable, compassionate, and genuinely focused on their goals. Whether she's working with a senior transitioning into assisted living or a young family buying their first home, Jennifer brings patience, empathy, and a sincere desire to help. She also leverages her professional photography background to give every listing a polished and elevated presentation. From high-resolution photos to video walkthroughs, drone imagery, and 3D virtual tours, Jennifer ensures her clients’ properties stand out in a crowded market. Beyond her work in Oregon, Jennifer has a growing interest in international and vacation real estate, inspired by her love of travel and time spent exploring 11 countries across Europe — especially Ireland. Her global perspective fuels her passion for helping clients discover second homes and holiday properties abroad, a niche she plans to grow in the years ahead. Outside of real estate, Jennifer is a proud mother of three and grandmother to four. She loves gardening, photography, travel, and self-development, and she’s a big believer in the power of mindset. Whether she’s helping clients buy or sell, build wealth, or make a fresh start, Jennifer approaches every interaction with integrity, insight, and heart.

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CHAPTER 1 Introduction

Vacant homes pose real estate challenges and offer opportunity at the same time. Paradoxically, empty real estate can be easier to sell (e.g., it can be owner-unoccupied and beautifully staged for marketing) and at the same time, it is harder to sell (it may be a piece of property left to you in a favorite aunt’s estate that has been neglected for years. That is what we are going to discuss in this book—the challenges and the techniques to successfully sell an empty house. A home can become vacant due to marriage, divorce, job relocation, death, or myriad other life events. The house could be in superb, average, or shabby condition. It may be updated or old-fashioned. It may be starkly empty and beautifully painted in neutral colors throughout, or it may be crammed with old furniture and the previous owner’s possessions (perhaps yours) and have zebra-striped wallpaper in the kitchen and bathrooms. Either way, it needs to be sold. This book considers how to do so in the quickest way and for the highest price. There are two types of vacant home sales. One is where the homeowners/sellers have decided to vacate the home they currently live in and reside elsewhere while the house is sold, such as an apartment, rental home, or residence hotel. They do this to make a home showing a more attractive proposition for the buyer. As we will see, this is part of “staging” a house for the market. The advantages of vacating the house before starting the home marketing and sales process include presenting a better staging 2

opportunity, more frequent showings, easier upkeep, curb appeal, and a pristine interior, and less burden on the seller’s time and effort. The other situation is where the home is unoccupied—no one lives there and perhaps no one has lived there for some time. Maybe you inherited the house, assumed it for a debt, or decided it was an investment that did not work out. Sometimes vacancies are due to a bank foreclosure or short sale in which the lender accepts less than the mortgage balance. It is these bank-owned properties, sometimes called “real estate-owned,” or REOs, that tend to be “problem homes” in maintenance and sales. A house that’s been vacant may look like a bargain, but buyers should be cautious because expensive problems can exist inside homes that have been unoccupied. While vacating the home during the time it is on the market can be a distinct advantage to the seller, that is not the case with all vacant properties. That’s the purpose of this book—to educate the reader on the issues involved in owning, and potentially selling a vacant residential property.

CHAPTER 2 To Rent or to Sell? That Is the Question

The decision of whether to rent out or sell a vacant home often arises in residential real estate sales transactions. Real estate is a prime investment. For most Americans, it is their largest investment, with the equity built up in the home of genuine importance in retirement planning. It may be an attractive proposition either for long-term investment or immediate cash flow if a homeowner has the opportunity (and financial ability) to become a landlord and rent out a home while affording another. A family may arrive at a point where more room is needed, or a change of location desired, or a new job requires a relocation that causes someone to move and rent out their original house to tenants. Other situations where it might be more practical to rent out rather than sell out could involve a home that has languished on the market or where the owner is “under water,” meaning that the mortgage owed is more than the home’s current value. Renting your home versus selling has many factors to consider. For example, is real estate a good investment in the overall economy? Is the housing market in general moving up or down? If waiting two or three years will see substantial appreciation in local home prices or if home prices have been depressed but are slowly rebounding, it may be better to rent out your home than sell now. It makes sense to keep a house as an investment if it shows 4

future growth in worth, provided you have the wherewithal to maintain its value with conscientious renters and appropriate upkeep. Under some market conditions, it could also make sense to hang onto the home and realize rental income until the market recovers.

THE MAIN REASON TO SELL NOW

The local situation is a big factor. Is the home in an area of economic stability and rising house prices or in a steadily decaying area? If the home is in an increasingly unstable neighborhood, economically speaking, that might be a reason to sell quickly. If you notice that home values in the entire area have vastly decreased in recent months, it is hard to know when that downward trend will stop, or if it will stop at all. Consulting with a real estate agent who has experience and knowledge about the market shifts in neighborhood value will help you figure out what to do. If an agent you trust believes that the value is not going to go up anytime soon, it is best to sell your vacant home as soon as you can. Using a real estate agent to sell your vacant home will make the process go more smoothly, especially if you need to sell it within a short period of time.

ISSUES IN DECIDING TO RENT YOUR VACANT HOME

There are issues that will determine whether you can, or should, rent your home rather than selling it. Renting costs. Consider the costs in renting your home to decide if you can afford to go that route. Determine the going rental rates in your market using tools like the MLS listings, “shopper” guides, and online websites. Look for comparable properties in your neighborhood to estimate the monthly rent your home could bring. Note features such as square footage, number of

rooms, and upgrades such as granite kitchen countertops. Take location and proximity to desirable schools into consideration while looking for “comps” (comparable listings). You can also talk to real estate agents and property managers to get their take on pricing. If it turns out that you cannot cover your mortgage with the projected rent, then calculate how much of a loss you can take to still be able to afford to rent the house. In addition to mortgage payments, there are taxes, upkeep, and utilities to consider. Your home-sale situation. Your own economic circumstances may play a role in determining whether to rent your home or offer it for sale. Some sellers must evaluate whether they can afford to sell their home. If not, renting is a viable alternative. Here is an example of a situation where a couple had to examine how affordable it was for them to sell their house. The couple live in an area of Florida where houses had recently dropped in value since the year their house was purchased. As they debated whether to sell their home 5 years later, they realized that if they chose to sell, they would be forced to take a $50,000 cash loss, not including closing costs. They looked at the numbers and decided they could not afford to sell their home. For them, it made more sense to rent their home and purchase a second home. When you rent, you may take a loss monthly, but you do not have to come up with the cash to satisfy the loan immediately upon sale. If you sell at a loss, then there is no tax benefit. By renting, the couple bought some time and waited for real estate prices to recover. Beneficial tax deductions of renting a home. For homeowners in need of tax deductions, there are benefits to renting rather than selling a house. You can deduct expenses related to owning and managing your property when you rent it. This includes

mortgage interest payments, insurance, property taxes, maintenance, fixtures, cleaning services, and even travel and local transportation expenses incurred in maintaining and managing the property and rent collection.

PROS & CONS OF RENTING OUT

The biggest advantage of renting out your vacant home is gaining an additional source of income. This extra money each month will help you pay property taxes, mortgage, and utilities (unless you rent with the condition that tenants pay for utilities each month, which is completely your choice). It is possible to return some profit. Another advantage is the increase in the value of your vacant home through appreciation and/or by having some renovations done for your tenants. These factors could ultimately end up enhancing your investment by the time you choose to sell. For example, finishing the basement and adding a kitchen and a bathroom will turn it into a basement apartment, adding additional rental possibilities in the short-term, and increasing the home’s value for resale. By renting out your vacant home, you will avoid squatters, vandals, and thieves. For example, if you own a vacant home and you are rarely there, squatters and vandals are going to take notice. Therefore, if you are not planning on quickly selling your home, it is best to rent it out even in the short-term, so there is someone living there. You may get lucky and find tenants who would like to help with maintaining your property as part of their lease agreement. This could be anything from lawn care to plumbing issues. A tenant who loves your home could even become a future buyer for your property. One con to renting out is that you must assume the role of the landlord with all of the obligations, responsibilities, and

headaches that come with that responsibility. Property management is a dynamic, hands-on job, meaning you do not simply rent out your home and wait for the income and tax benefits to roll in. There will be both regular maintenance needs (e.g., landscaping, general repair) and emergency maintenance (e.g., the hot water heater that bursts at 3 am while you are out of town.) Bad tenants are a serious concern for owners renting houses. They can cause damage to property. They might be late on rent payments or not pay rent at all. Renters have no long-term investment in the home, and because of that there is the risk that some renters will not treat your house like a home. This can cause additional expenses for repairs, perhaps involve legal fees for eviction proceedings, and may eliminate the benefits of renting out your property. Background checks and requiring references on potential tenants are advised. Vetting potential tenants is one of the additional responsibilities a landlord takes on. If you are expecting to sell within a few months to a year or two, another con to be wary of is that having tenants in the home can make the home more difficult to sell. For example, say you have let your tenant know that you are planning to sell, and that they must relocate within two months’ time. If they do not have other options, they may drag their feet and make it as difficult as possible for you to prepare the home to sell. Whereas, if your home were empty, you could easily clean up and get the property ready for the potential buyers, without having to work around your tenant’s schedule. Converting residential to rental property may involve capital gains tax. If you lived in the house for at least two years, then rented it out for under three years, you might be able to use a provision that allows you to exclude up to $500,000 of gains tax-free. If you plan to sell a home you’ve converted to rental property, you should consult an accountant or tax expert and a

real estate agent.

CHAPTER 3 Not Living in Your Home our Home Makes It Easier to Sell o Sell

Some real estate professionals profess that it is 10 times easier to sell a house the seller is not currently living in than an owner- occupied home. For instance, buyer-agent showings will likely be increased simply because it is more efficient for real estate agents’ schedules to show unoccupied homes. If they have 20 homes to show and 5 are occupied, they may show the vacant homes first because it’s easier. They do not have to call and make an appointment. They can simply arrange with the seller or seller’s agent to go to the home and access it via the lockbox. This is also more convenient for the homeowner, who is not interrupted at inopportune times and asked to get out so that the agent can show the home. A seller doesn’t have to go to a neighbor’s, go to the store, or lurk about the neighborhood while buyers are looking. Further, the seller isn’t under continual pressure to keep the home in immaculate showing condition and spotless at all times. With small children, this can be almost impossible to do, even if one of the parents does not hold a job outside of the home. Finally, unoccupied homes can more easily be “staged” for sale, which is a huge factor that we will discuss in later chapters.

STATISTICS FOR SELLING VACANT HOMES

Market statistics typically show that owner-occupied homes will 10

take more time to sell. Most expired listings (homes that did not sell in their primary listing) are generally homes that were lived in by tenants or the homeowners themselves at the time of the listing. For example, a recent analysis conducted on the Portland real estate market revealed specific success and failure rates associated with selling vacant, seller-occupied, and tenant- occupied homes. It showed that vacant homes had a higher success rate (83%) of sale compared to seller-occupied homes, which had a 75% success rate. Tenant-occupied homes had the lowest success rate (63%), with a failure rate more than double that of vacant homes. This suggests that vacant homes may indeed sell more effectively than their owner-occupied counterparts. Any challenges that exist for selling vacant homes are easily overcome with home staging, which we will discuss in more detail in the coming pages.

MOVING OUT WHILE S T WHILE SELLING

A psychological benefit of moving out of your home while it is on the market is that it signals a “motivated seller” to potential buyers. An occupied home does not give as strong of a message that the seller is motivated to sell and ready to negotiate. A home that’s still full of your belongings and looks lived in, doesn’t signal this same kind of sense of momentum toward a sale. If you’re planning on putting your home on the market soon, it is best to do so after you have moved into a new place. This way, prospective buyers will be able to see that you are ready to sell, finalize, and close the deal as soon as they are ready to go. This will also help in staging the home with furniture and decor. If the agent or you have decided that the house should not be staged and instead remain empty, then all the better. Minimize furniture within the home when you move out. This will help buyers to picture where their furniture will fit into the home, even if they do not like what you currently have.

Decorative pictures—not family portraits or pictures of your children—will also help the home to feel inviting, without being overpowering. Overall, a staged furnished home looks more spacious and attractive than one that is entirely empty. During the process of moving out, check with your home insurance agent to find out the homeowner's insurance coverage situation while your house is unoccupied. Usually, there is an insurance coverage difference in an “unoccupied” home (i.e., the owner is on an extended vacation) and a vacant home (no one is living there). Your current policy will determine whether additional or different insurance is necessary. As an extra security measure to ensure that your house will not be a spotlight for potential break-ins, have a burglar alarm that is battery-operated and sensor lights on the exterior.

UTILIZING A STORAGE UNIT

Logistics and expenses may preclude the owner from acquiring another residence during the home marketing and sale period. If moving out is not an option you can still achieve some of the advantages of selling an unoccupied home by renting a storage unit and putting away as many personal items and belongings as possible. This will also help you when you do move because your things will already be wrapped, boxed, and ready to go. Remove all personal items, anything of value, family pictures, bookshelves, decorations, and anything that has personal value to you. Furniture that would not work well with the showings should be removed, as well. It is best to make the house appear that you are not living in it. Having a storage unit, in this case, is your best bet, as you can easily store everything in one place and will not have to impose on friends or family to use their garage.

MOVING BEFORE THE SALE RE THE SALE

If circumstances allow, moving out of the home before the sale is a good approach and a method to more adequately prepare your home for the market. All preparations can be accomplished with a “blank slate” of a house, which can include filling nail holes, painting the walls, replacing dingy carpets, or even turning carpeted floors into wood floors. Ensure that both the interior and the exterior of the home are spotless. This means a continually mowed lawn, raked leaves, trimmed hedges, and freshened or repainted outside of your home. Leave some furnishings, such as couches, beds, plants, and tables, but nothing that will give off too personal a feel or vibe. Even if a home is sparingly furnished, a staged home will sell quickly, and at a price that can be higher when compared to a home that is occupied with clutter and family possessions. Your home will need to sell quickly if you are buying a new one before you move out. Handling and paying for two mortgages at the same time can be incredibly burdensome, but if you are able to do it, moving out and selling your home while it is vacant will be much easier.

CHAPTER 4 Steps to Selling Your Vacant Home

Selling a house is all about the finer details. It is about putting your property up for sale at the perfect time. It is about decorating it enough to look inviting, but not so much that the potential buyers cannot visualize their own life there, and it is certainly about the price. Buying a house is a huge commitment, potentially the biggest chunk of money that someone is going to ever spend in one sitting, and prospective buyers will scare easily. If one thing, one little aspect, makes them unsure, there is a good chance you will lose the sale altogether. In a perfect world, everything would fall into place. You would sell your home at the exact time that you are ready to move into your new one. As we all know, it rarely works like this and many people move into their new home before selling their current one. This obviously adds pressure to a stressful time and as all your furniture and homely touches are moved into your new home, you may be attempting to sell an empty house. In sales strategy, buyers might use an empty home as a bargaining chip, believing the seller is anxious to sell. Was it overpriced? Is there something wrong with the property? Selling a vacant house requires taking that extra bit of care to make sure all details are perfect in order to guarantee every chance of getting that sale, and to encourage the buyer that there 14

is no reason to be hesitant about considering your property.

An advantage of selling an empty house is that it allows the potential buyer’s imagination to run wild during the home viewing. Without the distractions of furniture and homey touches, prospective buyers can imagine their own things in every room and start mentally placing their own lives in the vacant spaces. Emptying the house could well be a blessing in disguise if the seller is the type of homeowner who has clutter everywhere or a flamboyant taste in decoration. Too much personalization will leave potential buyers unable to picture themselves there, as they will be distracted by the clutter. There are ways to make an empty house feel homey. The impression you want to give is that it is a home eagerly awaiting a new family to start creating memories. You do not want it to look neglected and sorry for itself, as if it had been abandoned. A house needs to have character to encourage a sale and there are ways to give a vacant home the appropriate bit of personality.

CLEAN! THEN CLEAN MORE!

This sounds obvious—cleanliness is next to salesmanship. However, many sellers believe a quick vacuum once they have packed up their stuff is enough to call the place clean. A house must sparkle to the point where it does not appear as if it has ever been lived in. Buyers are looking for a fresh start in their home- buying experience and will turn away from anything not meeting their “fresh start” expectations. Bear in mind that moving furniture out of the house exposes all floor and wall areas. Keep up with cleaning on a regular basis for however long it takes to sell.

The buyer will use the sense of smell as much as sight in viewing

the house. Eliminate all pet and food odors. Make sure the place smells fresh always. Keep the home aired out by opening windows every few days, and invest in plug-in air fresheners for a longer-lasting effect. Keep the home smelling fresh and well- maintained, rather than musty and deserted.

LANDSCAPING

First impressions are paramount in home sales and the last thing you want is for a potential buyer to be put off before they have even entered the house. Give prospects a warm welcome by ensuring you keep the outside looking neat and tidy. Trim the hedges, mow the lawn, and depending on the season, keep on top of snow removal and fallen leaves. You want your house to look like you just moved out that morning, and the building is still alive. Allowing anything to become unkempt and derelict is going to give the impression that the house has been abandoned and neglected, which is never going to help a sale.

OUTDOOR MAINTENANCE

Like landscaping work, you must also pay attention to the finer details of the exterior of your house. Keep the gutters cleaned to avoid mess and check on the paint work, roof tiles, and brickwork. Walkways should not be cracked or broken. A frequent turn-off for a potential buyer is to arrive at a property and their first thought is of everything they see they would need to attend to. You also want to create the impression that your house can withstand the different weather elements. If your house is still in great shape in harsh weather when other properties are looking tired and shabby, that will greatly increase your chances of a sale.

PLAY UP YOUR ASSETS

An advantage of selling a vacant house is that any strong or unique feature your house has will not be obscured by your possessions. Buyers may look at a vast number of properties before deciding on which one is for them, so you need to highlight features that make your house stand out. Here is your opportunity to make the most of it and to make your features stand out. If your house has hardwood floors, for example, make sure they are gleaming. Do you have a dramatic view? Take those curtains down and let the light shine through. Whatever it is that made you fall in love with your house, make sure they see it too. The golden trick to all of this is letting the buyers discover everything for themselves. If you must point out the floor or point out the view, then it is likely not enough to encourage a sale. There is psychology involved in selling a home. If buyers are to be convinced to part with a vast sum of money, they need to have confidence that it is their decision. Buyers do not want to feel convinced into saying yes; they’ll want to fall in love with the house on their own accord. Let the house speak for itself by making it look its best.

SMART COLORS

Your home is how you express yourself. People can get a good read on who you are by the way you decorate, and your personality is in every room and spread throughout your home. That is not an advantage in home-selling. It means your home may be filled with different colors or funky wallpaper patterns. The best thing to do when selling is take it all back to neutral. Choose plain but warm colors to invite a buyer in. If you keep the glaring pinks, purples, or football team colors in a teenager’s

room, a buyer is going to be reminded that she is stepping into someone else’s memories. No one wants to feel like they are invading someone else’s space, so take it all back to neutral and let prospects put their own spin on it. It is best to paint over any woodwork or fixtures that are starting to look shabby just to tidy the place up. The bonus of all that effort is that your house will have the “new home” smell that will make the buyer feel like they are moving into a brand-new home.

FURNITURE

So now that your accumulated memories and belongings have vacated the house, the buyer can take the opportunity to picture their own life here. The best thing you can do is give them a nudge in the right direction. If you can spare a few pieces of your furniture, and it really only takes a few pieces, place certain pieces strategically to help the buyer establish what they can do with the space. One chair by the window is enough for the buyer to picture a relaxing morning with a book staring out at the view. A table in the dining room gives an idea of the space available to work with and how many people can come over for dinner. These subtle little hints are not too much and will create the blank canvas aspect that you are going for, plus it will do wonders to encourage the buyers to begin envisioning their own lives here. A few plants here and there on countertops will bring color and life back into the house. It could easily be the difference between a sale and a near miss, so it’s worth the effort.

UPDATE FIXTURES

Anything broken must be repaired and anything looking rundown should be replaced. Again, this is so the buyer does not straight away get overwhelmed with a list of “little” things to change and fix if they agree to buy. You want your buyer to feel confident that they can get the keys and just start living. Anything that poses as too much of a “fixer- upper” will be a major turn-off for most buyers. Make sure you check all the doorknobs, faucets, and lights, and fix them.

RIGHT TIME, RIGHT PLACE

Let’s backtrack a little. All the advice you have received so far is under the assumption that you get buyers to come for a viewing. Before we get to that stage, you need to consider a few aspects to make sure you get them to come in the first place. This comes down to the right price and right time. Avoid, if possible, putting your house up for sale just before Christmas, for example, as not many people will be looking to buy with the expensive holidays coming up. Keep an eye on the property market. Prices are known to rise and drop all the time, so try and avoid choosing to sell your property during a drop, or you will not get the price you are hoping for. Keep a close eye on the competition when it comes to choosing what price to list your property for. Have a look around your area for houses of a similar size with similar features and see what they are listing—and selling—for. You can get your house valued by a professional and decide from there, but it is good to do your own research so you know what is fair for you.

It is also worth choosing a reputable agent who can get you the

right exposure and optimize your chances of selling. It may cost you a little more than other places in commission, but it’s always worth choosing a company you know will get results because of their experience and reputation. All it does is increase your chances of getting that sale. So that’s everything you need to know about how to sell a vacant house and make it look like a home. Just a few little changes can make all the difference in making your house go from abandoned and lifeless to homely and enticing. Make the most of the blank canvas, rather than the remnants of your home, and allow the buyer to picture their life in the property and you’re as good as sold. This means that while you are selling an empty house, it should not be so empty if you wish to sell it as fast as possible.

CHAPTER 5 Choosing the Right Agent ht Agent

Selling a residential property involves more than 100 people with different skills and expertise who participate in the transaction from start to finish. Whether it is for a home inspection or a title search, it takes more than 20 steps to finalize the sale of your home. A real estate professional who is knowledgeable in all phases of real estate can make the process much easier. You do not need real estate expertise if you engage a real estate professional who has it. Choosing the best real estate agent for you can be problematic. Recommendations from friends and relatives and references are valuable. A friend might recommend an agent because that agent was able to sell their house for 20% more than hoped for, but that agent could still be the wrong choice for you if they are unfamiliar with your neighborhood). Gather all the bits of advice from people who have dealt with one real estate agent or another, but do the legwork yourself. Understand that choosing the best agent can make the difference between selling your vacant house or it still sitting empty in a year. Selling a house is an expense of the homeowner’s effort, time, and resources. It is a complex and emotional exercise because people grow attached to properties they have owned. Having a good agent can help you through that process, and you will eventually complete the transaction as a happy and satisfied person. The question that remains is how to find the one that suits your needs and is comfortable to work with.

The best way to start the process is to interview agents you might consider using from among your recommendations, existing knowledge of local real estate agents, or online search. There are many ways of finding a good agent. Personal recommendations from friends and colleagues are often helpful. If someone outside the real estate business with nothing to gain is bringing up an agent, you can be pretty sure you are on to a winner. The best agents—the top 10%—do 80% of all the business. Who has the most listings in your area? A first meeting need not be a formal one and can be noncommittal. Through the conversation you will learn a lot about the agent. This will also give you time to know how the agents treat their clients. Through the informal interview, you will have the chance to ask about each agent’s selling record, how well they understand the local market, and how each agent can help you sell your house. You want someone with enthusiasm and drive, someone who will give you the attention you need, and someone who will steer you through the whole process with courtesy and professionalism. These are appropriate topics to be discussed prior to making a real estate agent selection:

HOW MANY TRANSACTIONS DOES THE AGENT HANDLE PER YEAR? ER YEAR?

This is supposed to give you an idea of how fast the agent can get a deal. A competent agent who has some experience in the field of real estate should have a respectable number of sales under their belt. However, do not rate the agent simply according to the number of transactions per year, as you should also note that more transactions do not necessarily reflect the agent’s capability or compatibility. An agent may have a lot of transactions, but their service could still have left the sellers or buyers deeply unsatisfied, so you need to also look for other signs of expertise

and capability.

CAN THE AGENT FULL GENT FULLY EXPLAIN THE SELLING OR BUYING PROCESS?

Any real estate agent should be able to explain the complete process of selling or buying a house. If you happen to notice that the agent does not have a firm grasp on the idea of selling or buying a house, there is a possibility that that agent might land you in trouble in the long run.

CAN THE AGENT EXP GENT EXPLAIN THE S AIN THE STATE, FEDERAL, AND LOCAL PROGRAMS FOR FIRST-TIME HOME SELLERS

This is a very important interview question. A real estate agent should understand all requirements whether federal, state or local. The importance of this question is to ensure that all legal documents are properly crafted. The agent is supposed to advise you on the point at which to hire a lawyer to handle the legal work. The agent should even recommend the best lawyer suited to your needs.

WHICH NEIGHBORHOODS ARE S DS ARE SPECIALTIES?

This is also of importance since it will help you as a buyer to know whether the agent can sell your house at the right price.

DOES THE AGENT HAVE REFERENCES YOU CAN CHECK? U CAN CHECK?

Asking for references is vital. It will help you understand how the agent treats his customers by talking to people who have dealt with him previously. It will also give you a grasp of how capable the agent is in handling the transactions.

HOW OFTEN CAN I EXPECT TO HEAR FROM THE AGENT WHEN SELLING THE HOUSE?

When you put your house on sale, it is important for the agent to communicate with you regularly. This will give you an idea of the number of offers coming in as well as the amount of money potential buyers are willing to offer. In the end, it will help you figure out the amount of money you can expect from the sale.

CHAPTER 6 Why Changing Things and Small Improvements ements Can Gain You Thousands ou Thousands

The housing market is more competitive price-wise than it has ever been. It’s on the seller to go the extra mile and make sure their house stands out. We will now take up the extra steps necessary to take to earn more money on the sale. These are proven methods to raise the price of your home. This discussion of “staging” and these other strategies are backed up by statistics to prove how important these extra steps can be. There are steps to improve your home and make it more welcoming to your audience during a drive-by or walk-through. Taking these steps will affect the online presence as well. It is a paradox that although there are so many mediums and platforms where houses are advertised today making it harder to stand out. This places the importance of the home’s immediate appearance into a higher priority. You can choose a professional stager or a staging company, as many of them are available in most cities. Even a property stylist is appropriate in some circumstances since it will just make your house stand out that much more.

WHAT IS HOME "STAGING?"

Home staging is the process where your (empty) home is prepared, dressed up, and presented to look extra attractive and

extremely welcoming to a prospective buyer. Home staging is about creating more space by cleaning clutter, removing objects and furniture, giving rooms a fresh and neutral color, and making necessary repairs. Replacing carpets and flooring is a common practice. The process may involve professional painting, deep-cleaning, furniture rental or placement of appropriate pieces of the seller’s furnishings, and continual maintenance. To minimize expense in home staging, you or your professional’s first step is going to be to do as much as possible with everything that you already have. The priciest items will probably come with making updates and repairs, inside or outside the house. The least expensive are the things the sellers are willing and able to do themselves—maximizing space by moving objects around and cleaning your house out. An important part is choosing accessories and furniture to dress up your newfound space, creating a welcoming and warm environment. Home staging makes prospective buyers see all the possibilities of purchasing the home and living in it. They need to be able to imagine their own life’s taking place in each part of the home. Money spent on staging should not be considered as waste, but should as an investment or cost of doing business, and it will be recovered when the property is sold. It will pay off in the long run when the home’s perceived value is boosted.

DOES HOME STAGING WORK?

According to the information from the Real Estate Staging Association, properties that are professionally well-staged look more appealing and spend less time (about 75%) on the market. They are most viewed by buyers as “well-maintained” and “must- see” houses, and subsequently sold at a higher price.

When it comes to acquiring real estate, most prospective buyers imagine or think they can overlook empty rooms or poor décor and see only potential, but they really do not. The sole purpose of staging is to make it easy for prospective buyers to envision how they will live in the house. It gives an example of the type of comfort and life that prospective buyers can have in the house. This is the main reason successful builders use model suites and model homes to sell their projects. Experienced home sellers discover that the same principles from modeling a home are also useful in the resale market, thus, they rely on professional home stagers to make sure that they sell at a higher price and get off the market quickly. When hunting for a house, home buyers start with a reasonable list of prospective properties, but the house they buy is often chosen mainly for emotional reasons. The aim of staging a project is to ensure that prospective buyers see the great possibilities owning the house will bring. The prospective buyer can walk into the home and have that “finally, I’ve gotten my dream home” feeling. Potential buyers pleased with the staging may be willing to look beyond some of their “must-have” features such as a two-car garage or fireplace. It is paramount to take minute details into consideration. Small things that you overlook such as personal memorabilia, overcrowded rooms, scratched doors, or dripping taps can disengage the buyer emotionally from the home. They will envision the problems they will have to face later, rather than the stone hearth that might tempt them, and immediately shift their attention to the next appointment while writing off your house. The greatest motivator for someone to make an offer on your property is the connection they make with it while imagining

their life there. If this can be achieved, then you may have put an end to the buyers’ search for their perfect choice. Your motive is to keep them restless with the feeling that if they decide too late, someone else will buy their dream house.

IMPORTANCE OF ONLINE MARKE NLINE MARKETING

This is the online shopping age. Most prospective buyers first look online for what they want, before even employing the services of real estate agents. One survey said 90% of home buyers in the United States begin their search for houses on the internet. It is the photos of the home more so than a written description that will interest a prospect—or not. When listing a house, your photos of the house need to be captivating such that buyers become anxious to see the house in person.

SUMMARY OF CHANGES AND IMP GES AND IMPROVEMENTS

There are numerous things to do to get your property ready for the market. One of the most important things is to get rid of your clutter. This may be difficult, especially if you do not see it as clutter, but be aware that a prospective buyer will. Emotional attachment to your things should be kept low as it may keep you from realizing how cluttered your home will appear to strangers. If your spending is done appropriately by replacing worn-out items and making small improvements, you stand a better chance of selling your property quickly, and at a better price.

Here are some basic rules for proper staging of a home:

• The house must be clean. “Sparkling” should be the right word to use for your house. The kind of cleaning that

attracts top offers is often achievable and only feasible by employing the services of a cleaning crew. It is even a good investment to have the cleaning team come weekly to inspect, while your home is for sale. Your windows and other places should be professionally cleaned outside and inside also. • Repair or replace. A cracked tile or dripping faucet will send a wrong impression to prospective buyers. Replacing them or getting them fixed before putting your house for sale is mandatory. • Use neutral colors. Neutral colors sell. Conveying an image of neutrality and quality is important. Prospective buyers walk through your home imagining themselves as the owners. Odd or loud colors can turn buyers off. They won’t be able to imagine living with those colors or will envision having to paint as part of moving in. Those sports team colors in the den will have to go! • Depersonalize. Remove most objects that personalize the home to your own memories or tastes, Overt signs of political causes or affiliation are not going to help the sale and might detract. This can affect the desire to work with the seller if objectionable to the buyer and subconsciously affect the buyer-seller relationship. There are emotional aspects to buying a home and you want prospective buyers to attach emotion to your home by making it possible for them to see themselves as the owners. • Critical areas. While staging, be especially sensitive to the entrance, kitchen, bathroom, and toilet. Buyers put more emphasis on these areas.

CHAPTER 7 Marketing a Vacant Home acant Home

BENEFITS OF ADVERTISING ON MULTIPLE PLATFORMS

The boons bestowed by web technology have rendered it extremely easy to list property on multiple platforms. While most homeowners engage or eventually resort to an agent to sell their property, some turn to online real estate portals, online classified ads, video-sharing sites, blogs, and social networking sites. Several sites are specially designed for property selling. In addition, sellers can utilize the capabilities of real estate websites like Zillow which also feature mobile apps to handle the complete range of processes associated with home selling. House buyers make broad and sophisticated use of the online market. However, their online activity significantly varies. Some are hunting for properties by locating specific brands on search engines. Others are keen to go through reviews and ratings on properties, or interacting with the members of various real estate communities using social media sites. Many are also watching property tours presented through YouTube videos. Many make use of handheld devices to search for their dream homes online. The sales scenario existing today can give the widest exposure, reach, and coverage to your property. Due to the diverse kinds of customer behavior online, your sales strategy must involve multiple platforms. About one-fifth of real estate searches happen on handheld devices, so websites need to be mobile-enabled with dynamic layouts or have separate web applications (apps). Over the past four years, real estate searches 32

over Google have grown more than 253% percent. One study found that on average, shoppers make about 11 searches online before taking in-person action on a real estate search. More than half of the actions taken on real estate brands result from a search engine. Many real estate sites have high rankings on popular search engines like Google. Added advantages presented by these sites include facilities like email marketing, social media marketing, and several other marketing strategies that can help drive leads. Research found that more than 70% of links clicked by search engine users are organic and not paid. Several companies have their own social media channels to post their client’s properties including Facebook, Instagram, LinkedIn, Nextdoor, Pinterest, andmore.

USING SOCIAL MEDIA TO SELL THE HOME

Social media is one of the most prominent media outlets on which to advertise your home sales information. Studies have shown that social media conversations significantly influence property buying decisions. The phenomenal amount of exposure that your property will get on social media is encouraging. Using social media enhances the possibility of selling your property and selling it quicker. While providing the widest and most targeted reach possible, social media advertising is also the least expensive avenue—free! To take best advantage of this marketing channel, create a social media page for your house using Facebook and Instagram. Both have advantages. The former is good for imagery and the latter is the best avenue to develop local networks. Make the page appealing to potential buyers with a strong cover, profile picture of the home, and details of the location in text boxes.

Great images are the key to attracting potential local buyers. Consider using a professional photographer. The amount you spend will come back as a return on your investment in the form of attention that boosts your listing and brings it to more viewers. Take advantage of the video possibilities on Facebook. Post a walkthrough of your home for potential buyers—a virtual showing. Share information about the locality, neighborhood, and the highlights of the property. Share your page with your friends and contacts through your Facebook and Instagram accounts requesting them to share with other friends, too. This can immediately open a network. If there is a local home buyer blog or website, share it there, too. Once you find people searching for property in your area, you can comment on their posts and link your listing. The most important thing is to stay interactive and promptly respond to comments from potential buyers to see that you profit from those leads.

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