Avoid These 6 Decor Trends When Selling

As a seller, you want to make sure that you find a buyer in a reasonable amount of time. You also want to find a buyer who’s willing to pay you what your home is worth. And one of the best ways to do that is to prep your home in such a way that it “speaks” to buyers.

The fastest way to find a willing buyer is to help foster an emotional connection between buyers and your home, and staging appropriately can help make that happen.

Yet while there are certain design and decor elements that are considered attractive, there are still many others that aren’t. In fact, some types of decor can be major turn-offs.

If selling quickly and for top dollar is on your agenda, be sure to avoid any one of these off-putting decor trends.

1. Wall-to-Wall Carpeting

It’s been a long time since wall-to-wall carpeting has been in style in home decor, and buyers still don’t like the sight of it. While carpeting is actually quite comfortable to walk on, the thought of carpeting all over the house conjures up thoughts of trapped dirt and debris. Not only that, carpeting from one end of the room to the other is just not attractive any longer.

For years now, buyers prefer to see other types of material on floors, especially hardwood. If you’ve got wall-to-wall carpeting in your home, consider ripping it out in favor of hardwood flooring. If there’s already hardwood underneath, you can save a few bucks by simply having them sanded down and restained. Doing so could add some perceived value to your home and make a better impression on buyers.

2. Converted Rooms

You might not have any use for that third bedroom, but that doesn’t mean buyers won’t. Rather than waste the space, you may have used that extra bedroom for an office, exercise room, or playroom. But when it comes time to sell, you may want to consider converting that room back to its original function.

Buyers often have a tough time seeing past a home’s decor and will often be unable to imagine the home as a three-bedroom home rather than a two-bedroom with an office, for example. While the only thing standing in the way of the extra bedroom is the furniture, buyers prefer to see a home for what it is. Homes with more bedrooms are typically valued higher, and by marketing your home with a converted bedroom, you’re not doing your listing any justice.

3. Heavy Metallics

Metallics like bronze, copper, and polished nickel might have made a splash on the home decor scene over the recent past, but it’s certainly possible to go overboard with this trend. A little bronze or copper can go a long way, but too much can just be extremely overwhelming. If you want to include metallics in your home’s decor, be subtle. Using it on fixtures or doorknobs is fine, but plastering it across all surfaces is just too much.

Further, the type of finish matters too. Shiny finishes might be popular, but once again, only in doses. As exciting as metallics can be, too much of it can have a negative effect on the appearance of your home, especially to buyers who might not have the same level of affinity and appreciation for metallics as you.

4. Too Much White

White has been the go-to neutral in home decor as of late, especially in spaces like the kitchen and bathroom. It’s clean and provides a simple backdrop upon which to build. But too much white can make a space seem cold and uncomfortable.

Buyers want to walk into a home and feel warm and welcome, and all-white rooms can have the opposite effect. This is especially true for homes with modern design; this type of architecture combined with too much white can make a home feel too harsh, which is not the feeling you want buyers to have when they visit.

5. Too-Bold Front Door

If your front door is tired-looking and could use some sprucing up, a paint job is often the fastest and most cost-effective way to breathe some life into it. Painting the front door is also a great way to liven up your landscaping and improve your home’s curb appeal. But be careful with the color you choose to paint it in.

A color that’s considered too bold and bright could command a lot of attention, but for all the wrong reasons. The more popular door colors tend to be black, brown, white, and even red. But some homeowners have chosen to use more unconventional colors, such as yellow, green, and even purple. A statement door might be great for you and your tastes, but you’d be expanding your reach of interested buyers by painting your front door in a more subdued hue.

6. Bright Paint on the Walls

Along the same lines as the front door are the walls of your home. You might have an affinity for bright colors, but the odds of appealing to all buyers looking in your area are pretty slim. Bright paint colors might work for you, but not necessarily for buyers. As such, repainting your walls in a more subdued color or neutral hue is typically recommended.

7. Popcorn Ceilings

One of the first things that buyers promise to change as soon as they take possession of a home they buy are popcorn ceilings. These bumpy surfaces are easily and quickly noticed, but not for the right reasons. Popcorn ceilings may have been popular decades ago because of their ease of application and affordability, but they’re nothing but an eyesore today. If your home still has popcorn ceilings, it’s time to make a change before you put your home on the market.

The Bottom Line

Certain home decor trends work very well at appealing buyers, while others have the opposite effect. While some decorative elements might be blatantly outdated and unattractive, others might not be as obvious. Get the opinion of your real estate agent about any changes your home’s decor might need. Otherwise, hire a professional home stager to make any necessary updates for you.

INFOGRAPHIC: California Sales Report For February 2018

7 Things to Know About Modular Homes

Unlike traditional home construction, modular homes are structures that are built in phases entirely inside a factory. Once each module is complete, it is then transported to the lot to be built on and assembled on site.

Sometimes confused with mobile homes, modular homes cannot be moved to another site once they’ve been set. Also known as ‘pre-fabricated’ (or ‘pre-fab’) homes, these types of properties are becoming an increasingly popular choice for many buyers.

If you’re considering buying a modular home, there are certain facts you should know about first in order to make a sound purchasing decision.

1. They’re Usually Built Faster Than On-Site Built Homes

Traditional homes that are constructed on site typically experience various delays throughout the process, mainly as a result of weather, shortage of material delivery from third parties, or other outside factors. But because modular homes are built inside a controlled factory environment, there are usually no delays.

Manufacturers of modular homes also tend to have an abundant supply of materials needed to complete the construction of a modular home, further helping to speed the process along. Modular homes can actually be completed within a much shorter time frame compared to on-site built homes and can usually be ready in a matter of weeks.

2. They’re Often More Affordable

Since modular homes can be completed in a much shorter time frame compared to on-site built homes, they’re typically less expensive. There’s no travel time to and from the site for trades, material deliveries, and so forth, further cutting costs.

In addition, all necessary inspections at each phase of construction are conducted at the factory before the homes are brought to their lot for final construction.

3. They’re Not All Cookie-Cutter in Design

Modular homes have a reputation for being very simple and limited in design, but that is not necessarily the case. Today’s modern modular homes are much more complex than what many may believe. They don’t all look the same. Instead, they are flexible in design and can be built in several different configurations. Manufacturers can work with buyers to design and customize modular homes.

That said, certain types of customizations might prove to be difficult because of how modular homes are manufactured in comparison to on-site built homes. While they are certainly flexible in design, modular homes are still not as easily personalized compared to homes that have been constructed at the site.

4. They Should Be Marked as Modular

Buyers who are house hunting should be able to identify a modular home based on a small tag that is typically fastened to the outside of each section of the home. Such tags should also be found in electrical box panels, and will include the date the home was manufactured and a serial number.

Buyers should also be able to tell if a home is modular as opposed to built on site by looking for marriage lines between two modules. With modular homes, there will be two double beams attached to each other.

5. The Site Needs to Be Perfectly Level

Builders who construct homes that are built on site can make any necessary adjustments with the foundation if it’s not entirely level. On the other hand, modular home manufacturers can only work with foundations that are perfectly level and free of any trees in order to accommodate the placement of each module.

6. They Can Be Mortgaged

Modular homes are classified as real property, and as such, they can be financed as such. You can take out a mortgage to pay for a modular home purchase and won’t have to worry about paying for it in all-cash up front.

However, a mortgage for a modular home requires a few additional steps. Modular home builders will want to be paid after each phase of construction has been completed. As such, you will need to provide them with payments at each phase. To access these funds, you can take out a construction loan to satisfy these payments. Once the home has been completed, the construction loan will then be changed to a traditional mortgage.

7. There Are Land Restrictions to Contend With

You’ll need to already have a lot purchased before you can place a modular home atop. But you won’t necessarily be able to buy land anywhere you want to accommodate the structure. Lots in subdivisions can’t be purchased for the purpose of erecting a modular home, as subdivisions typically have very specific restrictions regarding home construction.

There may also be municipalities that don’t allow modular homes because of specific restrictive covenants that prohibit the erection of such structures. As a buyer, you should look into where modular homes are allowed versus areas that don’t permit these types of homes.

The Bottom Line

Like any other type of home, buying a modular home requires some homework on the part of the buyer. Considering the magnitude of such a purchase, you want to make sure you’re spending your hard-earned money wisely.

Be sure to comparison shop between manufacturers of modular homes to ensure you’re working with a reputable one who has a track record for developing sound structures. Enlist the help of a seasoned real estate agent who can help guide you in the right direction and help you make an informed purchasing decision.

6 Reasons to Reduce the Price of Your Home

No seller ever wants to have to reduce the price of their home,  but sometimes it might be a necessary step to sell in a reasonable amount of time. Of course, all sellers want to make the most money on the sale of their property, but they can only realistically demand an amount that’s in line with the current market.

If your home hasn’t sold yet, there may be a number of reasons why. In many cases, a price reduction might need to be considered.

Here are a few reasons why you may want to think about lowering the price of your home.

1. Showings Are Scarce

If your home isn’t attracting much attention and isn’t getting many showings booked, there may be something wrong. While it could be any number of things, one of them could be the price. If hardly anybody is visiting your home, the odds of selling are pretty slim.

The first week is when activity should be at its highest. That’s because buyers want to be able to snag a potential property before anyone else does. If your listing isn’t getting much action even during this busy time, there’s a problem. At this point, you may want to revisit your listing price to see if it’s still in line with the current market.

2. There Have Been Lots of Showings, But No Offers

You want to have an attractive listing that will draw in as many potential buyers as possible. But even if your home has had several showings booked, that doesn’t always mean that the offers will quickly follow. If you’ve had a number of showings on your home with no offer, there’s an issue.

Sure, it could be that buyers have discovered something wrong with the home or were not keen on the layout or decor. But it could also be the price that has them turned off. While your home may have been attractive enough to view it in person, the price may be a hurdle that buyers may not be willing to climb over if it’s too high. Listing agents will typically speak with buyer agents to find out what turned buyers off, and quite often it’s the price.

The last thing you want is to allow your listing to become stale. If your home has been viewed by many buyers but you haven’t gotten an offer yet, you may want to think about lowering the listing price if appropriate. 

3. You Need to Sell By a Certain Date

If you’re highly motivated to sell but aren’t getting any offers as soon as you expected, reducing the price might be an option. There may be several different reasons why you have to sell quickly. Maybe you’ve had a job offer that’s relocating you to another city and you need to move right away. Or perhaps you’ve already bought another home and it closes soon. Whatever your motivation, selling your present home in a short time period may be difficult at your current listing price.

Speak with your real estate agent about the possibility of lowering the price in order to garner more attention and sell sooner rather than later. It may be worth it to reduce the price in order to keep things more streamlined and stress-free, especially if you’re on a deadline to sell.

4. Other Similar Homes Are Selling a Lot Faster

If you notice that your home has been sitting on the market for a lot longer than other similar homes in the neighborhood before selling, it could be your price that’s stalling the process. You should find out the average number of days on the market (DOM) for homes like yours in your area.

If, for instance, that number is 20 and your DOM has already hit 40, it may very well be the price that’s preventing you from selling within a shorter time frame.

5. Your Home Needs Updating and Repairs

If your home is in need of a little TLC and your price doesn’t really take into account the money needed to bring it up to par, a price reduction may be warranted. Buyers are going to account for any expenditures needed to make repairs or updates to your home and will likely factor that into their offer price. Any issues with your home will be noticed by buyers and will influence what they believe your home is actually worth.

If you’re not able to make these updates yourself, your price should be set accordingly to make up for what buyers would have to spend themselves. Maybe you initially thought that your price reflected the required updates, by perhaps not accurately enough. Don’t forget that many buyers are looking for move-in ready homes and will likely reduce their offer prices when looking at properties that require some improvements.

6. The Market Has Changed

The real estate market is always changing, and some markets move faster than others. Perhaps the price you initially listed at accurately reflected the market at that time, but maybe things have changed since then. It might be worth it to take another look at the current market and see how your home’s value has potentially changed.

If there’s been a slight decline in real estate in your area, you made need to tweak your listing price to reflect that.

The Bottom Line

The listing price is one of the most important factors in selling a home. An accurate price will help bring the most attention to a property and generate interest in it. That being said, there may be times when a change in listing price is necessary, especially if a home is not selling in a reasonable amount of time.

Consult with your real estate agent about the possibility of lowering your price. Your agent will help you decide whether or not to reduce it, and by how much in order to realize a successful real estate transaction.

5 Ways to Finance Your Home Remodel

Home improvements are super expensive and often require a huge chunk of money in order to bring them to fruition. Depending on the size and scope of your particular project, you could be looking at a small fortune to make the needed and desired improvements on your home. Many homeowners simply don’t have that kind of liquid cash in their bank accounts.

Luckily, there are different ways that you can fund your home improvement project without having to sell everything you own or beg your family and friends for money to cover this expense. Here are a few options you may want to consider to help you finance your next renovation.

1. Home Equity Line of Credit (HELOC)

If you have any equity built up in your home, you may be able to use it to fund your next home improvement project. With a HELOC, your home is essentially used as collateral and allows you to borrow a specific amount of money based on how much home equity you have.

Somewhat similar to the way a credit card works, a HELOC allows you to withdraw money from your credit line against your home equity, which is charged a set interest rate. You would then be responsible for repaying the amount borrowed every month.

The draw period for a HELOC is typically 10 years, but that can fluctuate based on your lender and your particular situation. During this draw period, you’re allowed to borrow against your home equity up to an agreed-upon limit and make monthly payments that incorporate the interest and a portion of the principal on the outstanding balance.

The repayment period is when you would pay off the entire debt in full, and typically lasts approximately 15 years. The payments made during this time frame will likely be higher because you’d be paying more towards the principal portion of your debt.

The great thing about HELOCs is that you can deduct your expenses come tax time if the money was used for significant improvements to your home. You can deduct the interest on a limit of $750,000 of home equity debt.

It should be noted that borrowers need to make sure they are financially capable of repaying their HELOC. If you fail to make their payments, you could lose your collateral – in this case, your home.

2. Home Equity Loan (HEL)

A home equity loan is similar to a HELOC in that you borrow money against the equity in your home and use your property as collateral for the loan. However, it differs in that a HEL does not involve a revolving line of credit like a HELOC. Instead, you take out a certain amount of money – as you would with a conventional loan – and pay it back in fixed installments with interest over time. Home equity loans can range in length from anywhere between five to 30 years. 

Home equity loan amounts depend on the value of your home – which an appraiser will determine – and the amount of equity that currently sits in it. Like a traditional mortgage, you’ll have to pay a certain amount in closing costs, though these amounts are typically a lot less compared to a traditional home loan.

3. Construction Loans

You may be able to qualify for a construction loan in order to finance your home improvement project. These types of loans are typically used on a short-term basis – typically around one year – which allows you enough time to complete your project and provide the funds needed to pay for it. Construction loans are designed for projects that are significant in nature and are not suitable for smaller renovations.

The funds are not given in one lump sum; rather, they’re released at stages. Typically, money is given when specific phases of the job have been completed. Once the job is done, a new loan will usually have to be taken out in order to pay off the construction loan.

4. Mortgage Refinance

If the current mortgage rate is lower than the rate you’re currently locked into with your mortgage, a refinance might be a great way to save some money at a lower rate. You can kill two birds with one stone by taking advantage of less in interest payments and freeing up some money that can be used to be put towards a renovation.

Essentially, refinancing means paying off the first loan and creating a second loan with a lower rate. By doing so, you can effectively cut down on your monthly mortgage payments that will allow you to use those extra funds to finance a home improvement project.

You may even want to consider a cash-out refinance, whereby your existing mortgage would be refinanced and the new home loan would be for a larger amount than your current loan. In turn, you would get the difference in cash. That said, a cash-out refinance should only be considered if you are certain that the improvements you make on your home will increase its value.

5. FHA Title 1 Loan

Homeowners can use FHA Title 1 loans to get access to necessary funds to make improvements on their homes. Buyers can even use these types of loans on top of their original mortgage to fix up a home they’re purchasing.

An FHA Title 1 loan is specifically used for home improvements. Loans under $7,500 typically are unsecured; all you would need is your signature. However, larger loan amounts will require collateral; namely, your home. These loans are usually made for no more than $25,000.

Only lenders who are FHA-approved are able to offer Title 1 loans. You don’t need any equity in your home to qualify, and the money you borrow can be used to pay for any home improvements that are not considered excessive. 

The Bottom Line

If you don’t have a large lump sum of money lying around to pay for a home improvement project, you still have options. The above financial products can help make your renovations a reality. Not only are they relatively easy to obtain, they can also help you add some extra value to your home once your project is done. Speak with a mortgage specialist to find out which option is right for you.

INFOGRAPHIC: California Sales Report For January 2018

6 Types of Fencing to Give Your Home Some Privacy

Your home’s fence plays a key role in two critical factors in your home’s exterior: esthetics and privacy. The type of fence you choose will be integral in how visually appealing your fence is and how much privacy you’ll be able to enjoy.

Luckily, there are several fencing options available, each of which offers its own set of benefits and drawbacks.

The following fencing types are often used for residential purposes to both contribute to the esthetics of a home and add a level of privacy and security.

1. Wood Fencing

The traditional type of fencing material – and the most popular – is classic wood. The most common wood species used to build fences include cedar, pine, spruce, cypress, and redwood. Wood fencing can not only be erected in such a way so as to provide different levels of privacy, it’s also one of the more attractive materials for this particular residential feature.

Depending on the type of wood and the way in which the fence is erected, there’s no reason for a wood fence not to last as long as your home itself. Of course, how well it is maintained also plays a role in the lifespan of the wood fence.

The type of wood and the amount of lumber required to achieve the desired effect greatly influences the final price tag. Cedar is typically the more expensive wood type for fencing, while pine tends to be on the lower end of the pricing scale.

There are a variety of ways a wood fence can be constructed, the most common of which include:

  • Picket fences – Upright panels are spaced apart.
  • Privacy fences – Two layers of upright panels are erected, with each set blocking the spaces between the other.
  • Stockade fences – Wood panels with pointed edges are placed tightly against each another to create a solid panel.
  • Lattice fences – Strips of wood are crossed and attached together with diamond-shaped spaces in between.

2. PVC Fencing

PVC – which stands for “polyvinyl chloride” – is a type of vinyl and is often used in place of wood. It’s relatively inexpensive, especially compared to certain wood materials. It weather-tolerant, strong, and durable, though not necessarily as strong as wood. When painted, it’s difficult to tell that it’s actually PVC rather than wood.

Unlike wood, however, PVC only has to be stained or painted once, making it much easier to maintain. They never splinter either, making them more kid-friendly.

Typically, PVC fences incorporate wooden posts that are then outfitted with PVC sleeves. Stakes are either attached using an adhesive to cross bars or secured with screws. These types of fences come in all sorts of different colors, heights, and widths to suit a specific style.

3. Composite Fencing

Composite is typically created out of recycled wood pieces and plastics and mimics the look of real wood. While composite is generally more expensive than wood, it is a sustainable material that never requires trees to be cut down in order to obtain the lumber. Composite is also a popular choice among homeowners because it’s easy to maintain since it never has to be stained or painted after the initial coat.

Composite fencing is also very strong and able to withstand weather elements and is therefore able to last for decades. However, it may expand and contract during significant fluctuations in temperature because of the presence of wood factors in composite, which means it could be vulnerable to warping.

4. Bamboo Fencing

An interesting fence material that has been gaining in popularity over the recent past is bamboo. This natural material is actually used for several different residential components in addition to fencing, including furniture, accessories, and even dinnerware. It’s typically found in tropical and subtropical parts of the world.

Bamboo is considered to be a more eco-friendly choice for fencing material compared to wood because it can grow to its full height within one growing season, compared to trees which can take decades to reach their full height.

To create a fence, the bamboo poles are fastened together into panels and secured at posts installed at intervals along the perimeter of the yard. Rails are horizontally attached to the installed posts, upon which rolled panels of bamboo are installed.

Bamboo can tolerate extreme weather conditions compared to most plants and is able to maintain its integrity despite the elements. It’s therefore durable enough to last for the long haul. Out of the more than 1,500 bamboo species out there, about 100 of them are used for commercial purposes, including for fencing.

5. Wrought Iron Fencing

Wrought iron is a classic and opulent-looking fence material and style. This material can instantly boost the luxury factor in a home’s curb appeal, which is why it is a popular choice for fencing.

Wrought iron is both visually appealing and incredibly strong, making it an ideal fencing material. However, it can be expensive, especially when more ornate designs are chosen. But wrought iron provides homeowners with so much flexibility in terms of style to create truly unique components for a home’s exterior.

Despite wrought iron’s durability, it does require some level of regular maintenance. Every few years, this material will likely need to be repainted, and sometimes even sanded down before painting if enough damage has been done to the coating.

6. Aluminum Fencing

Since wrought iron is rather expensive and out of budget for many homeowners, aluminum fencing is often sought after as an alternative. Aluminum can mimic the appearance of wrought iron without the costly expense. However, aluminum is not nearly as strong or durable as its wrought iron counterpart.

That said, aluminum fencing is very attractive and does not require the amount of maintenance that wrought iron does. The finish of aluminum fencing material is powder coated and is resistant to chipping, peeling, or cracking. There’s no need to sand and repaint the aluminum posts every few years as would be required with wrought iron.

The Bottom Line

When it comes to fencing for your home, you’ve got options. The one you select will depend on your budget, how much privacy and security you want, and your taste in style. Fortunately, there are several different options for you to choose from to check off everything on your wish list.

What is a Kick-Out Clause in a Real Estate Contract?

Many buyers are not able to afford the purchase of a new house until their current home sells first. Once their home sells, they can use the proceeds of their sale to be put towards to the purchase price of a new home. Even those who may be able to afford a new home without first selling their current property might not necessarily want to carry two mortgages until their current home finds a buyer.

In order to solve this issue, many buyers choose to make their offers contingent on the sale of their home. If their current property does not sell within a certain time period, they would then be free to walk away from the deal and not have to commit to buying a new home.

While this might sound ideal to buyers, it’s not exactly an attractive proposition for sellers. After all, sellers could wind up waiting for weeks until the buyer sells their home until closing. If the buyers are not able to sell their house during the specified time period, then the purchase agreement will become null and void and the buyers can walk away from the deal.

During this contingency period, the sellers would have lost out on other potential offers. That’s why many sellers tend to look unfavorably on real estate contracts that are contingent on the buyer’s ability to sell their current home.

However, sellers might have some recourse if they agree to entertain this type of contingent offer: with the inclusion of a “kick-out clause.”

What exactly is a kick-out clause, and how can it benefit sellers?

Kick-Out Clause: Defined

A kick-out clause is included in a real estate contract to allow sellers to nullify their agreement if they receive another offer from another buyer prior to closing. This clause allows sellers to continue to market their homes for sale in case another prospective buyer expresses interest in purchasing the home and submits a more attractive offer.

Basically, the seller is allowed to “kick out” the original buyer if another offer comes in. With such a clause in place, the seller can then cancel the contract and enter another one with a different buyer.

Sellers should include a time frame within which they are obligated to inform the original buyer, who will then have the opportunity to waive the contingency to sell their home and agree to purchase the new home. Otherwise, they can back out of the deal and allow the seller to continue entertaining another offer. While this time period can vary, 72 hours is typical for this type of contingency.

Can the Buyers Afford Your Home Without Selling Theirs First?

A kick-out clause is great for sellers in that it allows them to avoid wasting any time that could have been spent marketing to others and finding a better offer. Under this agreement, the potential buyer can have the contingency removed and carry on with the deal if the seller finds someone else who is interested in the property.

But sellers need to be satisfied with any evidence that the buyers have shown regarding their ability to afford a home purchase without having sold their present property. Buyers will need to show sellers that they are still capable of securing a mortgage for a new home purchase, regardless of whether or not they’ve been able to successfully sell their home.

Many times buyers won’t be able to get approved for a mortgage because they don’t have the financial means of carrying two mortgages at the same time. Sellers need to be aware that if they choose to work with the original buyers after waiving their contingency to sell their home, the buyers must strong proof that a mortgage approval is imminent.

Kick-Out Clauses Offer a Meeting Ground Between Buyers and Sellers

A kick-out clause allows buyers and sellers to compromise with each other if there is another property in the picture that must be sold. That being said, sellers should require that buyers start marketing their home right away. The sooner the home is listed and marketed, the sooner it will be able to find its own buyer and sell in time to put the proceeds of the sale towards the new purchase.

It’s recommended that sellers carefully word their kick-out clause to ensure it clearly stipulates that if the buyer fails to list and start marketing their home within a specified time frame, the seller can then exercise the right to nullify the purchase agreement and look for a different buyer.

The Bottom Line

It’s not uncommon for some buyers to want to ensure their current home is sold before they agree to buy another house. Nobody wants to have a mortgage on two different properties if it can be avoided. That’s why some buyers choose to insert a clause in their real estate contracts that give them the chance to sell first before buying another home.

But from a seller’s point of view, that’s a gamble. They could very well be sitting around waiting for the buyer to sell their own home, when this may never happen. In the meantime, they could have lost out on countless other potential offers, which may have been even better than the one they’re currently entertaining.

That’s why kick-out clauses exist. they offer a compromise for both parties to help ensure a deal is successfully completed. But sellers need to make sure that their kick-out clause is carefully written and detailed with the help of a seasoned real estate professional in order to avoid any loopholes.

5 Things Sellers Should Do Before Relisting

No seller ever wants to have to take down their listing after little activity and zero offers. But it does happen, and these sellers are then left with the task of relisting their homes at some point in the future.

If you’re one of these sellers who is in the position to relist, you’ll want to make sure your new listing is successful this time. To do that, you’ll obviously need to make some adjustments to your new listing. Something clearly wasn’t working the first time around, so some changes will need to be made in order to ensure your next attempt works in your favor.

Here are some things you should take into consideration before you put your home back on the market.

1. Consider Comments From Buyers and Agents

You can gather a lot of vital and useful information from buyers and agents who visited your home when it was previously listed. Their thoughts and opinions of your home can come in really handy when it comes time to relist.

Obviously, there was an issue with your listing before, which is why it never sold and was taken down. But what exactly was the issue? The price? The condition of the home? The curb appeal?

Whatever the problem was perceived to be, you can find out the nitty gritty by simply getting some feedback from buyers and their agents to help tweak your new listing accordingly. Any negative comments made about your home can be used to your advantage to create a much stronger listing the second time around.

2. Make Some Improvements

Little issues with a home’s condition and decor and really add up and turn prospective buyers off. The chipped tiles, loose cabinet handles, burned-out light bulb, or scuff marks on the walls might all seem minor, but they can all combine to make a home look less than perfect.

Before you relist, take the time to carefully inspect your home and look for little things that require improvement and updating. Certain updates might cost a little bit of money upfront, but they can make a huge difference in the overall appearance of your home and bring you the price you want. With a home in better condition, there’s less reason for buyers to lowball you on price or consider other properties.

Just make sure not to go overboard with your upgrades. Spending too much on certain types of improvements will not bring you the return you would like come sale time. Keep things simple and affordable, and stick to relatively simple cosmetic updates. Costly repairs rarely allow sellers to recoup the expense.

3. Hire a Professional Home Stager

In addition to making some much-needed improvements, you should also consider having your home professionally staged. You stand a much better chance of selling within a reasonable amount of time and for a lot more money if you stage your home.

Taking this step is especially important if your previous listing failed and you’re attempting to relist. This time around, you need to put your best foot forward, and having your home staged for the buyers in your market is a great way to do just that.

A home that’s presented appropriately for the market can make a huge difference in the response and attention it gets. Appealing to the target pool of buyers in your area can help you get an offer in a reasonable amount of time after listing and can give you more negotiating power.

4. Take New/Better Photos

Assess the photos you used in your previous listing and determine whether or not they were up to par. Photos play a critical role in a listing and in enticing prospective buyers to schedule a showing. If your online photos are less-than-perfect, buyers will easily gloss over your listing in favor of one with much more attractive images.

Even if your previous photos were great, you probably shouldn’t use the same ones. You want your new listing to be given a fresh start, and using the same images from your last listing is not the way to do that. Buyers might figure out that the photos used on your new listing were taken months earlier and will know that your home has been sitting on the market for a while.

Not only do you want your photos to be better, you also want them to showcase any updates you made. Once your home has been updated and staged, that’s when new photos should be taken. Be sure to hire a professional photographer who will know exactly what angles and lighting to use to showcase your home in the best way possible.

Buyers are predominantly shopping online, and the photos you present make a world of difference. Today’s buyers are looking at several properties every day when searching online, so it’s crucial that your photos are perfect and help your home stand out from the crowd.

5. Consider a Different Asking Price

Your asking price is one of the most important aspects of your listing. A home that’s priced too high will scare buyers off who would have otherwise been willing and able to afford your home. If your listing price was part of the problem the first time around, you may want to consider relisting at a different price point.

An appropriate listing price that’s in line with the current market will help garner the most attention in your home. Today’s buyers are well-informed about what homes are worth and likely won’t spend any more than they have to, even for a home they’ve fallen in love with.

Your real estate agent will pull a new report of comps in the area to see where your home stands as far as value is concerned. By assessing similar homes in your neighborhood that have recently sold, you’ll be able to determine an appropriate listing price.

A price reduction is one of the more common criteria that buyers consider when relisting their homes after their first shot at the market was unsuccessful. But dropping the price isn’t always necessary. There are other factors that come into play that should be assessed, such as the condition of the market and the current inventory level. Your agent will have this important information in order to help you come up with a sound listing price that will draw the most attention on your new listing.

The Bottom Line

If relisting your home is on the agenda, you need to take a careful approach before you put your property back on the market. Take some time to closely analyze what went wrong the first time around so you don’t duplicate those mistakes. Many times it’s the price that causes a listing to become stale, but there are other factors that may have been at play. Armed with a seasoned real estate agent, you should be able to pinpoint what these issues were and take measures to improve your new listing.

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