The typical FSBO home sold for $153,000 compared to $211,000 for agent-assisted home sales.

That’s a difference of 58,000. Or another way of putting it is that 27% less was earned on the sale of your home, your investment, your nest egg. Ouch!

• The owners who put their own homes on the market worked hard to get their homes noticed and sold. Here are the methods they used:
• Listing on Internet/FSBO website: 51%
• Yard sign . . . 44%
• Friends/neighbors . . . 33%
• Newspaper ad . . . 22%
• Open house . . . 15%

Some folks would think it’s logical that once you save the real estate agent’s usual 6% fee for selling your home, you could lower your price and attract a quick sell. According to the statistics here, it’s not that simple. In fact, many FSBO sellers ran into a plethora of difficult tasks. Here’s what they said was the most difficult:

• Selling within the planned length of time: 9%
• Getting the right price: 15%
• Preparing/fixing up home for sale: 18%
• Understanding and performing paperwork: 15%
• Having enough time to devote to all aspects of the sale: 5%

When it’s time to sell your home, make the choice that will increase your overall selling price. And give me a call!

*Source: 2009 National Association of REALTORS® Profile of Home Buyers and Sellers

PS Still not convinced? Read Seven reasons you should not FSBO.

The reason I pose this particular question is that most houses are worth at least $150,000. And for most people, their home is their biggest investment. Need expert help? Call a REALTOR®. Why? I thought you’d never ask! Here are 7 reasons why a REALTOR®’s very valuable to your bottom line:

1. Which lender’s best? You could contact every bank, credit union and mortgage company yourself, or you could consult one professional – your REALTOR®. (I have great lenders, for example, which work with NACA and NCHFA for first time home buyers. Not all lenders do.) After a consultation with you, a REALTOR® can help you better understand your loan capacity and find the company best suited to your financial needs.

2. REALTORS® like choices. Once you have a price range in mind, your REALTOR® can direct you to many appropriate choices through a variety of professional resources. Some properties may not be actively advertised and without your REALTOR®’s input, these houses could remain one of the best kept secrets on the market.

3. REALTORS® connect to other REALTOR®’s listings. Did you know that 50% of all real estate sales are cooperative sales? In other words, you might have hired XYZ Company, but your dream house may be listed by ABC Company. This connection means more choices for you.

4. It’s all objective. A REALTOR® is your best objective resource for your dream house’s neighborhood. She can tell you about the latest zoning decisions in the county as well as award-winning local school districts. He can help you answer the two big real estate questions: a) Is this dream house a good fit for my family and myself? ; b) Will this dream house hold or increase in value by the time we’re ready to sell?

5. REALTORS® live to negotiate. Really. It’s what they do day in and day out – and it’s for your best interest. Should closing costs be included? Are certain furnishings staying? Would you consider a lower price if that last repair was left undone? The list is extensive, and it’s a relief to know you have a seasoned professional to advise you on resolving such issues.

6. Evaluations are key. What kind of inspections do you need? Who pays for each one? Your REALTOR® knows what tests are needed in various communities. While termites might be an ongoing issue for some areas, testing for radon may be common in another. The buyer usually pays for such tests, and your REALTOR® can give buyers a listing of reliable professionals they depend on to carry out the necessary testing.

7. It’s not over until it’s over. From the first offer to the final closing, your REALTOR® is there for every step, every question, every bit of paperwork. He ‘s working hard for a mutually beneficial contract at the best possible price, and yes, that adds value to your bottom line.

In an independent survey, it was found that 84% of all home buyers would use the same REALTOR® again. Obviously a lot of folks already realize the value of a good REALTOR®!

If you’re thinking about selling your house yourself, give me a call. Let’s talk about your options – FSBO or not. Together we can get your house sold!

1. To know my house is to love my house. Who knows it best? You do! You’ve lived there, and you know which faucet needs a new washer and more importantly, when the roof was replaced. If you have school age children, you can speak with authority on the selling points of the neighborhood’s school district.

2. Who’s in control? You’re in total control of open houses, drop-ins and appointments. You don’t have a third party negotiating the best time between you and a potential buyer.

3. Can we talk…alone? Upgrade yours sales tactics to two-way communication. Price negotiations and various decisions may be simplified when the middle man is no longer in the equation.

4. Price flexibility. It’s no secret that real estate agents will earn 6% of the total price when selling your home. In today’s economy, you might want to consider reducing your price by 6% to make it more attractive to seller

Of course, as with all decisions, there are some caveats to consider when selling your own home without a real estate agent. For instance, are you willing to put in the time and work required? Are you willing to research the market thoroughly and price your home accordingly? Do you have an effective strategy if your home doesn’t sell quickly? If so, it’s time to fix that leaky faucet, paint the front porch and place an ad in the local paper!

Before you do, however, read our next post, Reasons Why You Should Not FSBO.

1. Major renovations. Most of the time, you won’t sell a home faster because of major renovations. Adding a bedroom, creating a gourmet kitchen, or installing a hot tub probably won’t make much difference to your average buyer, and you may actually price yourself out of range for the neighborhood where your home is located.

2. High end carpet. It’s a great idea to replace dirty, worn, or dated carpet. But when you pick out the replacement, don’t choose the most expensive grade or brand on the market. A new carpet looks new, no matter the price, so a buyer will get the look and feel of your house at its best. But whether you install new carpet or not, a lot of buyers will immediately change it, and get their own new flooring with the color, style, and brand that they want to match their new home.

Note: Sometimes, if a carpet isn’t too far gone, I encourage my clients to give buyers a carpet allowance. I just staged a home for sale in Durham, and I had a flooring company give carpet samples for prospective buyers to see. It gave This gives the best of both worlds for a savvy seller – and buyer.

3. New appliances. Whether you are leaving your appliances in your home or taking them with you, take a serious look at the units to see if they are so bad that they overshadow the good points of your kitchen. If they don’t, new appliances aren’t important enough for someone to want to seal the deal immediately. If you feel you must replace them, consider renting for a week or two, or buying nice used models. (Craig’s List is a great place for this!) You don’t need to install dishwashers and everything else to improve your home. You just need to do enough to get it to sell.

4. Retiling. If you have problem tiling spots, don’t retile the whole room. Give the tile a good scrub down. Remove and replace dirty or broken caulk. Then, replace cracked or chipped tile.

5. Pool. Many years ago, a pool was a hot selling point for a home. Today, most people don’t need or want pools. The expense, the liability, and safety concerns will actually keep some people from even considering a home that has a swimming pool – and in some cases – even a hot tub.

So – even though it’s hot in Chapel Hill – don’t sweat it. Concentrate your energy and your resources on things that will give you the biggest return in selling price – and in a fast sell.

It may be easy for you to overlook cracked tiling in the kitchen, holes from your son’s errant baseball, that dripping faucet in the laundry room, but for a prospective buyer, these are red flags that may indicate your home hasn’t been well maintained.

Here’s a list of some easy fixes to problems that you might overlook:

Open and shut. Make sure that each door in your home closes and locks properly. Buyers may mistakenly think that a sagging door signals a serious foundation problem.

Light work. Put in new light bulbs in every room. The clean, bright light from a new bulb will make your home shine.

Squeaky clean. Clean your home from the attic to the basement! Don’t forget to dust blinds, vaccuum out light fixtures, and wash fingerprints off odd spots – like the ceiling. Pay particular attention to the windows. Recently, I found myself frantically cleaning some dirty windows at a home that I listed and that house sold in a week. (Your mileage may vary – but clean windows won’t hurt!)

Under pressure. Pressure wash the exterior of your home. Make sure you clean all of the exterior of the house itself – bricks and siding, foundation and eaves. You should also pay particular attention to the steps, porches, decks, sidewalks, and driveways. Every inch of your home should be pristine.

Worn out. Replace anything worn. Take a look at faucets and other plumbing fixtures. Check your light fixtures; make sure your switches aren’t cracked or dirty. Examine rugs in entry ways, carpet on the steps, handles on your cabinets.

Yard for sale. Get your yard in shape. Trim bushes and weed your flower beds. Make sure your lawn is edged and mulched nicely. It’s been really dry lately in Chapel Hill, so if you have plants that look anemic, water and fertilize them – or replace them as needed. Remove any branches or leaves from your yard.

Up on the roof. Check your roof and gutters for damage, dirt, leaves, and debris. Give a good initial clean out, and then keep your eye on it after any rain or wind.

Got your number. Make sure your house number is easily visible from the street. You want every buyer to find you easily!

So go ahead. Sweat the small stuff. These little things may just make your home sell a whole lot faster!

PS Don’t forget that staging your house for sale is another great way to get your house sold!

Absorption rate is the rate that houses sell in a given area during a certain time period. We real estate professionals depend on these figures to determine trends in the market. Suppose there are 1,000 homes for sale in your hometown, and every month, 100 houses are sold. That means that if the pattern of 100 houses selling each month continues, it would take 10 months to exhaust the supply of houses.

An inclining absorption rate means the sellers are happy – more houses are selling – and selling faster. Sellers are more likely to get a sale at or close to their asking price. In this market, lots of houses are for sale – we’re not exactly seeing many areas with inclining absorption rates.

On the other hand, a declining trend means fewer houses are selling. This creates a positive environment for first time home buyers. Incentives such as reduced house prices and lower closing costs are usually available during a declining trend. And right now, we have been in a declining trend for a while. This is really good news for first time home buyers and real estate investors.

So – absorption rate is one of those real estate vocabulary terms that are important to buyers and sellers, one of the pieces of knowledge that can put you just a little bit ahead of the curve. And now you know what it is, and can understand what your real estate agent is talking about, and how it relates to your situation.

Here are a few routine steps that pay off in the long run:

1. “Feed me, Seymour!” Start with low-maintenance landscaping and include slow-growing plants. It’s amazing how quickly a fast growing hedge or plant grouping can morph into something like Little Shop of Horrors’ “mean green mother from outer space.” Keep your yard looking groomed.

2. Mulch the front garden at least once a year, either in spring or fall. With a little “Round-up” applied strategically and fresh mulch, you can do away with many intrusive weeds. Trim hedges, deadhead plants, and mow frequently.

3. Front Door Man…or Woman. That first impressions count! Fresh paint is an inexpensive update. Check the threshold and look for a good seal.

4. Look Through My Window. Freshly caulk your windows. Not only will you save on your energy bills, but you’ll impress experienced and first-time home buyers with your attention to details.

5. Powder Room Prowess or All is Vanity. Check out your vanity, from the countertop to the storage below. Check the faucets closely and replace washers as necessary. Hard water can brutalize the inner workings of a spigot. Re-caulk the tile around the tub, and check the flooring for any water damage.

6. Soul Kitchen. More accurately, the kitchen is the heart and soul of your home. Does the back splash tiling need to be re-caulked? Check the inner workings of your faucet, and check under your sink for possible leaks. Pay attention to the flooring around your dishwasher. Are there signs of leakage?

7. Up on the Roof. It’s clichéd but true that a stitch in time saves nine. Roof repairs done quickly can prevent further damage, make your roof last longer and save money. Know the age of your roof. A repair journal or receipts in a home repair file are impressive.

8. Light my fire. Or at least check out your furnace. Change the filters as needed. Again, a repair journal can help you remember your timing.

For more tips on preserving the value of your home, give me a call. I can help you with more home maintenance tips, and when it’s time – I’ll help you get your house sold!

1. Walk this way! Familiarity can impair our vision of our home. Stand on the curb and assess your curb appeal. Pretend it’s the first time you’ve seen this house. What does the woodwork look like? Does it need repair? How does the roof look from the street? What’s your impression of the landscaping in the front yard? This honest assessment is the first step in staging your home to sell.

2. Just Do It. Once you were able to identify some possible flaws, it’s time for action. House staging means your next steps might be: fix the broken shutter, paint the front door, and if it’s the season, get everyone in the household involved to weed the front garden. If spring is in the air, a fresh batch of annuals bursting with color is the perfect, inexpensive upgrade for any front yard.

3. Mow, mow, mow. Mow grass frequently when it’s the season. As you’re staging your house to sell, it’s important to remember that you don’t want any small flaw (like shaggy grass) to distract your potential buyer.

4. No Bike Zone. Trikes, Hot Wheels and other toys are part of life when you have kids, but you never get a second chance to make a first impression. Involve your children in storing these items when they finish playing. Be mindful of your own possible clutter: a pair of gardening gloves and a bag of fertilizer left behind could prevent someone from realizing that your home is perfect for them.

5. Front Porch Available. Now you’ve made it from the street, past the freshly mown grass. After you’ve admired the annuals in the front garden and made sure you’ve put up your gardening tools, it’s time to take a good look at your front porch. In spring, is it covered with pollen? In fall, are leaves a problem? Either sweep or hose off any debris on your porch (being mindful to put up these tools when finished.) Does the porch light work? Does the doorbell work? You want to give the impression that your home is well taken care of. A simple thing like a burned out bulb can make you seem like a lax homeowner. The potential buyer may wonder what else is in bad repair or neglected.

What’s that I hear? The doorbell? I think you may have your first potential buyer at the door! Stay tuned for more tips on staging a home for sale. What happens once the front door opens? I can hardly wait to tell you!

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I provide free assistance for home staging to my clients. If you’re selling a home in the Chapel Hill or Durham areas of the Triangle, call or email me today, and let’s get your house sold!

Yet you want your kitchen to welcome any potential gourmet or gourmand who’s a strong potential buyer. Let’s face it: even if we’ve never zested a lemon or pressed a clove of garlic, we all like to think that given the opportunity, we could whip up a meal that would make Julia Child proud. The fantasy is that the right kitchen could propel any one of us to culinary genius. You can stage your home to create and literally sell such a fantasy.

Here are a few easy steps a motivated seller like you can take to stage your house to sell by transforming your kitchen into a deal closer:

1. Think fresh…paint that is. It’s cheap, and it can totally change the mood of a room. A kitchen that’s light, bright and airy invites folks to come in and sit a spell. The wheels in the mind of your potential buyer are starting to turn and plan. She’s starting to envision her table in your highly marketable space.

2. De-clutter. We all have refrigerator doors full of kids’ art, school pictures, tickets to the Durham Bulls game, and reminders for the next dental appointment. The truth is we’ve seen that door so often that we don’t see it as junky any more. To a buyer, the sight is jarring and reminds him he’s in someone else’s house. You want each person to be able to envision himself in this house and begin to see it as all theirs!

3. Clear the Counters. Think long and gleaming. Get as many appliances and crockery off your counter tops as possible. Spic and span surfaces shine! A vase of fresh flowers is a nice touch.

4. Smells like home. A Mrs. Smith apple pie in the oven makes your whole house smell like your grandmother’s on a harvest day. I won’t tell them it’s from your grocer’s freezer if you don’t.

5. Pantry Shelves, spice racks and spaces, oh my! We like to think the right kitchen would organize itself, and one with well-thought out storage spaces can certainly give that impression. Look in the most recent editions of home magazines for organizational ideas. Avoid Discount Club shopping and keep your pantry, cabinet and other storage places minimally stocked. Spaces will look larger. And you’ll be moving soon anyway!

Staging your home to sell is part science and part artistry. A clean, creatively presented kitchen can cut through the clutter of “buyer overload” and stage your house to sell quickly. A few easy steps can lead a motivated seller like you to the sale you’ve been waiting for.

Remember, I offer a free staging consultation if your home is occupied, and if your home is vacant, I’ll provide furniture and furnishings. My goal is to see your house sell quickly – and for the best price possible!

Contact me today, and let’s get your house SOLD!