1. Curb Appeal is Not as Good Others in the Area

Stand on the edge of the street and look at the house on either side of yours, then look at the house across the street. You’re looking for landscaping and general appeal as someone would see it from their car. Most people want to drive by a property first. Will the outside make them want to look at the inside? Yours should be as good or better than those around you if you want a fast sale at top market price.

2. Showing the House Before You Paint, Carpet, etc.

Do it before you waste your time and money advertising and showing. People are not used to visualizing finsihed upgrades like experienced investors and realtors are.

3. Over-Selling

When a prospective buyer indicates they want the house, write it up! Don’t keep selling. More than once I have had someone say they wanted the house, but I kept trying to reinforce the sale. Somewhere in the process, the buyer decides to “think about it awhile and get back to me.” These are hard words when you know that you already had the house sold. When you have a sale, stop selling.

4. Trying to Impart Your Vast Knowledge to the Buyer

I have to fight this urge every time I talk to a buyer. I enjoy talking, helping and educating people, but during a sale is not the time. You will only confuse the buyer when you try to pass on your knowledge and experience in 15 minutes. People will not make a decision to buy when they are confused.

5. Not Fixing Obvious Defects Before the Inspector Comes

If they see something wrong, they will often want to look closer. Once they have written up a problem, you may have to hire someone certified to do the work. Do it with a general handyman before they come out. I’ve paid big bucks for that mistake. Most times someone must re-inspect too, which will cost you more time. Maybe even enough time for the buyers to change their minds. At any rate, the inspector is just like you and me. If the house looks clean, neat and well cared for, he will give it a passing grade.

6. Not Following Up After Signing the Sales Agreement

More sales have been lost and made due to this than all the others combined. Lost and made? What am I talking about? Buying a home is the biggest financial decision most people will make in their lifetime. After someone has made the decision to buy, it is only human nature to question that decision later. When the going gets tough in the qualifying phase, people will question their buying decision more frequently.

Every time they do, you stand to lose the sale. You can fight this by contacting them every other day with some bit of information. Example: you talked to the mortgage company, the appraisal was done today, etc. Call or write with any information you have or can get just to stay in touch. Most buyers will view this as great service, which it is, and will refer others to you. What are you really trying to do? Keep them from backing out of the deal, of course.

7. Allowing the Buyer to Move into the House Prior to Closing

At best it will cost you in cosmetic issues they find wrong with the house. At worst, they may decide this is not the house for them after all. What happens if they decide they need new carpet (around $10,000) during their stay, but before closing. You can put it in the contract that such things are their problem, but who is in the driver’s seat at this point? Besides, they used all their money on the down payment, right?

8. Not Getting a Large Enough Deposit

People hate to lose money. A large binder deposit will normally commit someone. Get what you can when you write up the agreement, and ask for more soon. At least if they back out, you will have something to show for the time you kept it off the market.

9. Not Asking for the Sale

Most people need a little nudge to make a decision or commitment. You must provide that nudge or you will lose many sales you could have otherwise made. Ask for the sale as soon as possible.

10. Not Having Enough Information

This one will cost you many sales. Buyers want to know the details on the house: square feet, year built, lot size, schools, utilities, etc. They want to know how much will be required as a down payment and what the payments will be, how long it will take to qualify and get in the house, etc. Anticipate as many questions as you can and have answers ready.

Having this information handy will give you confidence when talking with buyers. Remember, the only people who never make mistakes are the ones who never actually do anything. So get out there and do something. Learn from your mistakes and don’t repeat them.

by Ron LeGrand

Real estate agents and home sellers should realize the importance of adding curb appeal. Sprucing up the exterior of the property to give it that special touch doesn’t have to be expensive – it does mean that you need to know what buyers are looking for when they first see a property. Here are a few simple and inexpensive ways you can easily add curb appeal to your property.

1. Windows & Gutters

Make sure the windows and gutters are clean out. Overflowing gutters and grimy windows really detract from the appeal of any property.

2. Siding & Exterior Walls

If your home has vinyl siding, consider pressure washing it. A pressure washer can be rented fairly inexpensively at a number of home improvement stores and equipment rental shops. This small cost can make a significant difference in the overall appearance of the property. If you’re exterior walls are beyond washing you may want to consider a fresh coat of paint. The additional cost could pay off in a faster sell at a higher price.

3. Lawn Care & Landscaping

Pay special attention to lawn care and landscaping. This can be oneof the most important aspects of adding curb appeal to your property. If the lawn isn’t attractive, or looks like it would require too much work to get it into shape, many buyers will keep on driving.

• To create a great looking lawn, water it regularly and keep weeds down with a spray.
• Pay close attention to the walkway and sidewalk where weeds tend to grow.
• If the lawn has patchy areas, seriously consider laying down some sod. While this can be a bit on the expensive side, it will definitely increase your profit margin when it comes time to sell.

4. Flower Beds

Flowers can push your landscaping into maximum curb appeal. They are very easy and cheap way to impress your potential buyers. Flower beds add color to the property and make your home more inviting. Consider placing an attractive earthenware container of yellow flowers next to the steps leading up to the front door. Well placed flowers lends a welcoming appearance to your home.

5. Sweat the Small Stuff

Some of the most important aspects of adding curb appeal are incredibly inexpensive.

• Paint or replace the mailbox, if necessary.
• Add a brass door knocker or attractive chile ristra to the front door.
• If there are no exterior lighting fixtures, install some to give the home the look of a safe harbor. Always remember to replace any burned out light bulbs.

Finally, take the time to stand back from the property and view it objectively. Think about how a prospective buyer would see the property. Does the home look welcoming, pleasant and charming? Or does it make you want to run in the other direction? Make notes of what you see and get to work!

by Sal Vannutini

1: New Electrical Switch Plates

This is such a minor, yet overlooked improvement. Most rental owners and rehabbers paint a unit and leave the old, ugly switch plates. Even worse, some even paint over them.

New switch plates cost about 50 cents each. You can replace the entire house with new switch plates for about $20. For the foyer, living room and other obvious areas, spring for nice brass plates. They run about $5 each – not much for added class.

2: New or Improved Doors

Another overlooked, yet cheap replacement item is doors. If you have ugly brown doors, replace them with nice white doors (you can paint them, but unless you have a spray gun it will take you three coats by hand).

The basic hollow-core door is about $20. It comes pre-primed and pre-hung. For about $10 more, you can buy stylish six-panel doors. If you are doing a rehab, the extra $10 per door is well worth-it. For rentals, consider at least changing the downstairs doors.

3: New Door Handles

In addition to changing doors, consider changing the handles. An old door handle (especially with crusted paint on it) looks drab. For about $10, you can replace them with new brass finished handles. Replace the guest bathroom and bedroom door handles with the fancy “S” handles (about $20 each).

4: Paint/Replace Trim

If the entire interior of the house does not need a paint job, consider painting the trim. New, modern custom homes typically come with beige or off-white walls and bright-white trim. Use a semi-gloss bright white on all the trim in your houses.

If the floor trim is worn, cracked or just plain ugly, replace it! Home Depot carries a new foam trim that is pre-painted in several finishes and costs less than 50 cents per linear foot. Create a great first impression by adding crown molding in the entry way and living room.

5: New Front Door

You only get one chance to make a first impression. A cheap front door makes a house look cheap. An old front door makes a house look old. If you have nice heavy door, paint it a bold color using a high-gloss paint. If your front door is old, consider replacing it with a new, stylish door. For about $125, you can buy a very nice door.

6: Tile Foyer Entry

After the front door, your next first impression is the foyer area. Most rental property foyers are graced with linoleum floors. Consider a nice 12″ Mexican tile. An 8′ x 8′ area should cost about $100 in materials.

7: New Shower Curtains

It amazes me that many landlords and sellers show properties with either no shower curtain or any ugly old shower curtain in the bathroom. Don’t be cheap – drop $40 and buy a nice new rod and fancy curtain.

8: Paint Kitchen Cabinets

Replacing kitchen cabinets is expensive, but painting them is cheap. If you have old 1970’s style wooden cabinets in a lovely dark brown shade, paint them. Use a semi-gloss white and finish them with colorful plastic knobs. No need to paint the inside of them (unless you own a spray gun), since you are only trying to make an impression.

Americans spend 99% of their time in the kitchen (when they are not watching TV). A fancy modern faucet looks great in the kitchen. They can run as much as $150, but not to worry – most retailers (Home Depot, Home Base, etc) often run clearance sales on overstocked and discontinued models. I have found nice Delta and Price Pfister faucets for about $60 on sale.

9: Add Window Shutters

If you have ugly aluminum framed windows, consider adding wooden shutters outside. They come pre-primed at most hardware retailers and are easy to install. Paint them an offset color from the outside of the house – (e.g., if the house is dark, paint the shutters white. If the house is light, paint them green, blue, etc.)

10: Add a Nice Mailbox

Everyone on the block has the same black mailbox. Stand out. Be bold. For about $35 you can buy a nice colorful mailbox. For about $60 more, you can buy a nice wooden post for it. People notice these things… and they like them!

by William Bronchick