Getting Ready to Sell Your Farmington Hills MI Home? Things Most People Forget to Do 

Getting Ready to Sell Your Farmington Hills MI Home? Things Most People Forget to Do 

Getting Ready to Sell Your Farmington Hills MI home? Here are 15 things you’ll want to do before showing your home to potential buyers, that many sellers forget to do.

Congratulations – you’ve decided to sell your Farmington Hills MI home. You’ve lined up a qualified real estate agent and you’ve started on your lists of small repairs. However, before you put your home on the market and have your first open house, there are a few things you’ll want to do first that require little effort and money. The simple home staging tips (most of which are totally free) listed below will help you get your home ready to show and sell faster for more money: 

1. Declutter and organize 

One thing you should definitely expect during an open house or home showing is for potential buyers to look in your closets, kitchen drawers, and cabinets. Homebuyers will be asking themselves how their own things are going to fit as they walk through your home. That is why you want to declutter and organize before showing your home. If your closets are stuffed full, you have a lot stored under the beds, and most surfaces in your home are cluttered, now’s the time to go through everything.

Donate whatever items you haven’t used in a year. Give things away to family and friends. Have a garage sale. Items such as family heirlooms, pictures, keepsakes, and personal memorabilia can all be stored away for the time being. The fewer things you have inside, the bigger your home will look and feel. Start by decluttering your closets, cabinets, and drawers and keep only enough belongings in each to really show off the potential space your home has to offer. Think of it as staging your storage areas.  

2. Straighten the pantry 

Pantries sell homes. Make yours appear roomier by straightening the shelves, organizing and grouping like items, organizing with bins, throwing out expired food, sweeping and mopping the floor, wiping down the shelves, and repainting and lining the shelves with fresh liner, if needed.  If you are using the floor for extra storage, clear it. You want the pantry to appear as large as possible to potential buyers.   

3. Empty the kitchen sink 

Nothing is more off-putting than a sink filled with dirty dishes. Make sure to always have a clean and empty sink by emptying the dishwasher in the morning. That way, every time you or a family member uses a dish, it can be rinsed off and immediately put into the dishwasher. This will prevent you from having to worry about doing a load of dishes last minute. Dry your sink using a damp towel when you are finished rinsing dishes and it will shine like new and impress potential buyers.  

4. Dump the kitchen trash 

This might seem simple, but don’t forget to take out the kitchen trash before a showing. You can even keep your trash bin in your garage while your home is for sale. It might be a bit inconvenient, but it will keep smelly trash out of the house. It will also be easy to grab and throw away in the big trash can on your way out.

5. Get rid of the dust 

Dust collects everywhere in our homes, especially in those hard-to-reach high places. Pay attention to the corners of rooms. Knock the spider webs down with a broom. Ceiling fans love to collect dust. Invest in an extra-long ceiling fan duster. Make sure the fan blades are dust-free. Blinds are another item that collects dust. Make sure you clean those too. Try using an old sock over your hand while wiping across each slat, starting at the top.

6. Clean the floors & carpet 

Be sure to vacuum carpets and rugs and sweep underneath furniture. One of the first things potential homebuyers look at when entering a new home is the floors, so make sure yours look their best. If your carpet is dirty, stained, or has a funky smell, be sure to get it professionally cleaned before you start showing your home to potential buyers.

7. Replace light bulbs

You want your house to look its brightest when homebuyers are touring it and replacing old burnt-out light bulbs is one of the easiest ways to achieve brightness.  Also, don’t forget to walk around the outside of your house to make sure all the lights around the exterior are working as well.

Depending on the time of year, open house or home tours could happen when the sun is going down or when it’s already dark. Make sure all your light bulbs are the same color inside as well as outside. A soft-white light LED bulb can create a bright but welcoming environment for new homebuyers.

8. Focus on the details: plants, mirrors, rugs & flowers

You may feel like spending a lot of time and money on your house is pointless because you’re just going to sell it anyway. However, the more you appeal to the majority of homebuyers, the more likely your house will sell faster and for more money.

Focus on the details. Nothing breathes life into a room more than a little greenery. A potted tree can work wonders in a living room. For smaller areas. think of smaller plants like a few potted herbs in the kitchen or a miniature ivy plant placed on the fireplace mantel.

Mirrors can be used to make small spaces appear larger as they create the illusion of depth. Mirrors also work great in darker rooms as they can reflect light deep into areas of a room that may not get an abundance of natural light.

Also, consider adding character to various spaces in your home with accent rugs. Just make sure the rug doesn’t take over and become the main focal point. A vase of fresh flowers can bring color into your home and make it feel more inviting to potential buyers. 

9. Paint: baseboards, crown molding, trim & door frames

It’s fairly common knowledge that potential homebuyers want to be able to picture themselves and their belongings in your space when looking at homes. So, if you happen to have a chartreuse accent wall, you’ll probably want to paint over it with a more neutral color.

Also, pay attention to the baseboards and crown molding. Your crown molding may just need some cleaning and a few touch-ups, whereas your baseboards have likely seen a lot more traffic, especially if you have kids. Try cleaning the baseboards with dish soap and water first. If they are still marked and scuffed up beyond that, you’ll most likely need to paint. 

Trim and door frames take a huge beating, especially if you have kids. Buy a gallon of trim paint and invest an afternoon touching up all the trim and door frames in your entire house. Paint will make everything look clean and brand new – you’ll be amazed at the difference.

10. Make sure your home smells inviting

Household odors will be the first thing potential buyers notice when they enter your home and can be a deal breaker. Deep cleaning your home can do wonders. If you don’t have time to do it yourself, hire a professional house cleaning service. 

Along with a really good cleaning, you can also use air freshener sprays, plug-in wax warmers, or even candles while showing your home. Some sellers go all out and bake  cookies before a showing. Whatever you do, make sure your home smells good.

11. Clean glass windows & doors 

You want to make your house shine inside and out. Windows and doors bring light in and can be a huge plus to a potential buyer. Make sure all your windows are clean (even the window sills, which collect dirt and dust. Before a showing, quickly clean the high traffic areas in your home like the back door.  

12. Clean the light switches and doorknobs 

Look around your home and you’ll probably find a few fingerprints and smudges, especially around light switches and doorknobs. Use a damp rag and a little cleaner to clean and polish all these areas. Be sure to address any light switches that are near the kitchen sink disposal, in the bathrooms, your kids’ rooms, and by the garage door. 

13. Clean and stock the bathrooms 

You want your bathrooms to be super clean. Take nick-knacks off the sink and counters. Be sure the toilet is flushed and close all the toilet lids. Also, make sure you have a fresh toilet paper roll in your bathroom; It just makes it look better to be fully stocked. Add fresh towels and make sure the bathroom garbage cans are empty.

14. Declutter and clean the garage 

Declutter the garage before showing your home. A cramped garage full of stuff can be a huge turn-off to potential buyers. A clean, well-organized, and freshly painted garage looks a lot more spacious and could actually turn out to be a huge selling point. 

15. Enhance your home’s curb appeal  

Ultimately, your outdoor space can be just as important as what your home has to offer on the inside. Enhancing your home’s curb appeal is one of the most impactful things you can do to create a great first impression and get potential buyers to have a look inside.

Be sure to remove any toys, bicycles, lawn furniture, equipment, etc. visible from the street. In addition, simple enhancements such as placing potted plants on your front porch, giving your front door a new coat of paint, or adding fresh bark around the base of your hedges and trees can go a long way to enhancing your home’s curb appeal.  

The takeaway

When selling your Farmington Hills MI home, decide on a local REALTOR® to work with early in the process and take advantage of their expertise and resources. You want a qualified agent who specializes in your area as every market is different. Then research together with your REALTOR® what comparable properties are selling for in your neighborhood to better understand what your home needs to make it stand out above the rest.

Keep in mind that you are not obligated to sell a perfect house. An experienced Farmington Hills MI REALTOR® can help you prioritize where to spend time and energy that will give you the best return.

Partner with Top-Rated Farmington Hills REALTOR® -Tom Gilliam

Whether you are interested in buying a home in the area or selling your Farmington Hills MI home, take advantage of Tom’s 17-plus years of experience as a top-rated Farmington Hills MI REALTOR®. For buyers, Tom will help you find the perfect home for your lifestyle needs in the right neighborhood. For sellers, Tom will get your home sold fast and for the most money.

He will look out for your best interests, advocate for you, negotiate on your behalf, and go the distance to ensure the best results possible. Get the home buying or selling process started today by calling Tom Gilliam directly at (248) 790-5594 or by email.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Direct: 248-790-5594
Office: 248-737-6800
Email: Homes2MoveYou.com
License #314578 

On the Fence About Selling? These Signs Can Indicate It’s Time to Make a Move

On the Fence About Selling? These Signs Can Indicate It’s Time to Make a Move

It can be challenging to determine when the best time to sell your home is. But if you’re on the fence about when (or if!) to sell your home, you could end up pushing off your home sale because you can’t make a decision—and missing out on the best time to sell.

So, the question is—what are some signs to be on the lookout for that will help you determine when you should sell?

recent video from realtor.com outlined signs that it may be time to sell your house and move on, including:

  • It’s a seller’s market. When you sell your home, you want to sell it as quickly and profitably as possible—and generally, that means making a move when the market is favoring sellers. If the price per square foot in your area is increasing—and the amount of time homes are sitting on the market is decreasing—it’s an advantageous time to sell your home.
  • You’re struggling financially. If your home is costing more than you expected—or more than you can afford—selling could help alleviate your financial stress and put you in a better financial position.
  • You’ve outgrown your home. Sometimes, the home you buy during one chapter of your life just doesn’t make sense for the next chapter. If you feel like you’ve outgrown your home and are struggling to find the space you need to live comfortably, it could be a good time to sell.

The Takeaway:

So, what does this mean for you? If you’ve been on the fence about selling, knowing some of the key signs that it’s time to make a move can help you make a decision—and list your home at the right time for you.

Want to Sell Your Farmington Hills MI House Fast? You Have Options 

Want to Sell Your Farmington Hills MI House Fast? You Have Options 

Want to Sell Your Farmington Hills MI House Fast? You Have Options 

Selling a house can often be a lengthy and stressful process. There’s the prepping, cleaning, and staging, making necessary repairs – and once you list your home, you will need to keep it ready to show at a moment’s notice in case a potential buyer wants to take a look.

Now, throw in the fact that you need to sell your Farmington Hills MI house fast because of financial hardship, a new job, a divorce, or some other unexpected life upheaval. Selling a home under the gun ups the pressure significantly.

However, making a rash decision could leave you kicking yourself over it down the road. First, you need to know all of your options so you can make an informed decision that best aligns with your current circumstances and goals. 

The National Association of Realtors (NAR) says that on average it takes just under a month to get a home under contract once you list it. According to mortgage data firm Ellie Mae, it takes around 46 days to close a home purchase mortgage once the seller accepts an offer.

That means if you are the average seller, you will probably have your money in hand in eight to ten weeks if everything goes smoothly and according to plan. But what if that’s not fast enough? 

Fortunately, there are traditional and non-traditional ways to speed up the home-selling process and get your money faster such as:

  • Sell to an all-cash buyer/investor 
  • Sell with an auction house
  • Sell to an iBuyer  
  • Sell with a top real estate agent

Let’s take a closer look at the above options for selling your Farmington Hills MI house fast so you can look back on the experience with no regrets: 

Sell your house to an all-cash buyer/investor 

You can close an all-cash deal with no mortgage in less than two weeks. However, speed does come at a premium as most cash buyers are investors looking to resell the property and need a substantial discount from the fair market value (30% to 50%) for the deal to make sense. The buyer usually waives the right to contingencies, inspections, walk-throughs, appraisals, repairs, and title insurance. 

Investors buying homes for cash and then selling them for a profit are actually on the rise. The National Association of Realtors (NAR) reports that investors accounted for 15% of home sales in July 2020, an increase from 11% the year prior.

As a group, cash buyers or house buying companies are individuals or entities that buy your property outright without the need for lender financing. Although selling your home to a cash buyer/investor allows you to skip the home prep, showings, and staging hassles, you’ll want to consider both the pros and cons of selling to an investor:

 The pros of selling your house to an all-cash buyer/Investor: 

  • Selling as-is:  You can sell your home as-is without having to do any repairs or upgrades. Since the investor isn’t planning on living in the home, he/she (or the company), doesn’t care whether your kitchen has been updated in the last 10 years or if your toilets are the original ones that came with the house when you purchased it 20 years ago. Many investors look for old or outdated homes to fix up themselves to flip and make a profit. As the seller, you save money by not making repairs or upgrades. You also save time and have the convenience of not having to make repairs or upgrades yourself.   
  • All-cash offers: – Most investors pay for homes in all-cash so there’s very little risk that you won’t close for lack of funds. Even when a traditional buyer has been preapproved for a loan, the lender can decide the buyer’s creditworthiness has changed and refuse to issue the funds needed to buy your home. However, before you sign a purchase agreement you should ask the investor for proof of funds, which can come in the form of bank or money market account statements that show cash or liquid assets that exceed the purchase price of your home.
  • Fast closings: Because the sale of the property is not reliant on approved financing, appraised values, home inspections, etc., bypassing all of these steps expedites the process considerably. Since most investors purchase with all cash, you can sell your property as soon as both parties agree on the conditions of sale. The average time it takes sellers to close with an all-cash investor is about two weeks, sometimes sooner. If you’re selling to a buyer who needs a mortgage, it takes a minimum of 60 days.

The cons of selling your house to an all-cash buyer/investor:

  • Investors don’t need a license to buy: As the home seller, you know nothing about the individual or entity offering to buy your home. Some investors are corporations, while others are individuals who just happen to also be real estate agents. This is cause for concern for many home sellers because they question the motive behind the purchase. Do they want to buy my home to resell it for more? Probably.
  • Scam artists can pose as Investors: There’s a risk of fraud in any financial transaction, but it’s especially critical to avoid scams when dealing with the largest asset such as your home. To avoid any issues, get the name of the investor and do research online to see who they are, ask for references, look them up with the BBB, and ask your Farmington Hills MI REALTOR® to also do some sleuthing on your behalf. 
  • Cash-buyer is a legitimate foreign investor:  If the cash buyer is a legitimate foreign investor, it could take much longer to close than with a domestic buyer who needs a mortgage. Investors who are not U.S. citizens could suffer negative tax consequences in their home countries by purchasing your home. Thus, the sale could be delayed for months while the investor works out the logistics of closing.
  • Your home will likely sell below market value:  Investors have their own costs to contend with and those costs will be factored into their offer price. Investors buy a property because they believe they can make more when they sell it than they paid for it. For the most part, investors buy homes as-is, not market-ready homes.

Investors are aware of the appeal and power of an all-cash offer and the fact that they are taking a risk by purchasing “as-is.” They may be relying on your motivation to get out quickly. Whatever the reason, it’s unlikely that an investor will pay market value for a home.

Sell your home with an auction house

Another way to sell your house fast is with an auction house. According to NAR, selling a home at auction has a few benefits but there are also disadvantages to consider.

The pros of selling your home with an auction house:

  • Buyers come prepared to buy
  • Quick disposal reduces long-term carrying costs, including taxes & maintenance
  • Exposes the property to a large number of pre-qualified prospects
  • Accelerates the sale
  • Creates competition among buyers—auction price can exceed the price of a negotiated sale
  • Requires potential buyers to pre-qualify for financing
  • The seller knows exactly when the property will sell
  • Eliminates numerous and unscheduled showings
  • Ensures an aggressive marketing program that increases interest and visibility

The cons of selling your home with an auction house:   

  • Many prospective buyers believe (incorrectly) that auction properties are distress sales and expect to pay less than the market price 
  • Auction costs are higher (often, much higher) than real estate commissions 
  • If the property doesn’t sell, you still owe substantial fees to the auction house 
  • In an auction without a reserve price, you may get less than you wanted or expected, but you will have to take it  

When you sell your house through a real estate auction house, you will have to pay extra costs associated with working with an auction company. The real estate auction house will handle the marketing of your property’s auction, decide when best to hold the event and where to hold it, decide whether you should hold an auction in which the highest bid automatically wins your property (auction without a reserve), or one in which you have the right to refuse the largest bid if it’s not high enough.  

The most successful real estate auctions tend to be those in which sellers agree to accept the highest offer, even if they’re not happy with it because these auctions attract the most bidders. Real estate investors don’t want to waste their time bidding on a house only to have the seller back out of selling it at the last minute. 

It can be risky selling real estate this way because you may end up selling your Farmington Hills MI house at a price that you believe is too low. Sellers must weigh this risk against the advantages.

Sell your house to an iBuyer  

The term iBuyer means “instant” buyer. An iBuyer is a specific type of cash buyer – an organization that uses an automated valuation model (AVM) to analyze your property and set the price it is willing to pay. There are no real estate agent commissions and you can avoid the hassle of listing your home and the uncertainty of when the sale will close.

In general, iBuyers offer a higher percentage of fair market value than investors/home flippers. But, according to a MarketWatch study, you’ll end up with about 11% less by selling your house to an iBuyer than if you sold it on the open market with a top real estate agent. There are both advantages and disadvantages to consider with an iBuyer:  

The pros to selling your house to an iBuyer:

  • Speed: One of the biggest advantages of using an iBuyer, is a speedy selling process that doesn’t require waiting on the interest of a potential buyer.  
  • Efficiency: Using an iBuyer means selling your home with ease. Since iBuyer takes on the typical responsibilities that selling a house requires, using their services can promise a simpler selling process of all the other options. 
  • All-Cash offers: When working with an iBuyer, the offer generated for your home is an all-cash offer, which is typically provided to a homeowner within 24 hours.  
  • Inspection: When using an iBuyer, you are not required to have an inspection of your home done. Any repair that needs to be done will be taken care of by the iBuyer.  
  • Showings: Some people don’t want to deal with the hassle of having people in and out of their homes for showings. The iBuyer will take care of dealing with potential buyers, so you don’t have to.  
  • Certainty: If an iBuyer approves your home, it’s then guaranteed that your home will sell one way or another. Since homes are bought by the iBuyer, it then becomes the iBuyers responsibility to sell.  

The cons of selling your house to an iBuyer

  • Lower offers: Because iBuyers take a significant risk in paying quickly and closing fast when purchasing a home, the offer provided can be less than what the home may be worth on the open market. This is the payoff of selling a home fast and seamlessly to an iBuyer. When using a top Farmington Hills MI REALTOR, there is a greater chance of receiving more money for your home, but without the convenience.
  • Deductions: After an inspection, if a homeowner chooses to have the iBuyers take care of the repairs, there is a deduction added to the final offer of the home that includes the payments required to do so. If the repairs are rather significant or extensive, this can lead to a much lower cash offer for the home.
  • Real estate agent:  There are instances where a top Farmington Hills MI REALTOR® can provide the same amount of efficiency in a similar amount of time. If you feel more comfortable using a real estate agent, you can typically receive some of the same benefits that an iBuyer can offer.
  • Availability:  Some iBuyers only perform in specific locations, cities, or states. If you are considering to us an iBuyer, you will need to make sure be reputable companies are operating within the area you live.
  • No negotiation: When using an iBuyer, you can not negotiate the offer given to you for your home. But, with selling your home with a REALTOR®, part of closing a sale is the conversation about the final price of the home. Often, a buyer will seek out a lower price and the agent will direct the conversation to help the buyer and seller agree. When using an iBuyer, asking for a higher purchase price is non-negotiable.
  • Representation: Many people don’t feel confident when it comes to selling their home on their own, and prefer to use an actual Farmington Hills MI real estate expert. With an iBuyer, there is no representation for you or the person buying your home. As the seller, you will not be represented by an expert and will have to go through the selling process on your own with the iBuyer.
  • Uncertainty: iBuyers can be selective when determining which homes they want to purchase and have the option to deny buying your home. While you are in the clear if an iBuyer has confirmed to buy your home, for those that don’t qualify, using an iBuyer won’t be an option.
  • Non-interactive: Using an iBuyer means there will be no face-to-face interaction. Some people would prefer to speak to an actual person in regards to their home rather than going through a website. Working with a real estate agent can help make some homeowners feel more confident their home is being considered in the most personal manner.

Ultimately, with iBuying, you’re typically selling your home at a discount and what you are getting in return are speed and certainty.  

Sell your home with a top real estate agent 

Selling with a top Farmington Hills REALTOR® can get you a fair market price or better. Putting the sale of your home in the hands of a skilled real estate professional can get you the speedy transaction you need at a price you can accept.

Specifically, the job of an agent is to guide the seller through necessary house preparations and repairs, price the home correctly, set up home staging, execute a marketing plan to promote the listing, negotiate with the buyer, and take the deal through to the final closing paperwork. 

These efforts bring serious buyers to the table as efficiently as possible to fetch an offer for your house at fair market value. Homes represented by agents generally sell for more money and sell for a median of 99% of the final listing price. Having an agent of your own also means having an advocate on your side who can handle delays and prevent mistakes.

Not only will an experienced and skilled Farmington Hills MI REATOR® help you avoid time-wasting missteps during escrow, but they can also help you choose which offer to accept to guarantee a smooth and fast transaction. If you’re on a tight deadline, it is reasonable to be concerned about whether a real estate agent will work at a fast enough pace.

That means not any agent will do. You need to partner up with an agent who has a track record of selling homes just like yours quickly in your area.  

Sell your house fast with top Farmington Hills MI REALTOR® – Tom Gilliam

Tom Gilliam has been serving Farmington Hills and the surrounding area for over two decades, with a commitment to his clients and a passion for real estate. Known for his friendly and down-to-earth demeanor, Tom’s personal approach to the real estate process allows him to connect with his clients. He will quickly ascertain your needs and wants and create a plan of action based on your specific criteria. 

Tom is someone you can trust and feel good about working with. His clients appreciate his honesty and transparency and feel it helps them as they make important real estate decisions. An excellent communicator, Tom makes himself available for his clients whenever they have questions or concerns and will promptly return any texts, calls, or emails.  

Having someone like Tom to advise and guide you means there is one less thing you need to worry about. A trusted Farmington Hills MI REALTORⓇ, Tom will protect your interests, advocate for you, negotiate on your behalf, and go the distance to ensure the best results possible.

If you are ready to sell your Farmington Hills MI home fast, please give Tom Gilliam a call directly at (248) 790-5594 or send him an email.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Direct: 248-790-5594
Office: 248-737-6800
Email: Homes2MoveYou.com
License #314578 

Map Farmington Hills MI

The Benefits of Staging Your Farmington Hills MI Home for Sale

The Benefits of Staging Your Farmington Hills MI Home for Sale

  The Benefits of Staging Your Farmington Hills MI Home for Sale

Congratulations. You’ve decided to put your Farmington Hills MI home on the market. In order for your home to sell quickly for the best price, you first need to get buyers interested in it. Home staging is the best way to market your home when you list it for sale. High-quality home staging appeals to buyers because it helps them envision your house as their home. People don’t just buy houses; they buy a story of what their life would be like in a new home. Many home sellers see a great return on their investment in home staging, including faster home sales and higher offers from buyers.

The key to home staging is tapping into a buyer’s psychology. It’s the same concept as packaging a product to make it appeal to a target market. Professional stagers know how to accomplish that while getting the most out of every room. If you are on the fence about whether to stage your Farmington Hills MI home for sale, the following information and staging statistics should help you make your decision:

Impact on buyers

Home staging helps accentuate the home’s best features while creating a warm and inviting atmosphere for buyers. Staging works because it considers the wants and needs of buyers and taps into their emotions when searching for a home. REALTORS® who typically work with home buyers say that many are willing to offer more money for a staged home compared to a home that’s similar but not staged. 81% of buyers say home staging makes it easier to visualize the property as their future home. And among REALTORS® who typically represent buyers, 49% report that most home buyers are impacted by staging.

Staging helps homes stand out and sell faster

The main reasons home staging has become so popular are consumer demand and the rapid increase of buyers searching for homes on the internet. Most buyers first see a home online so photographs matter. If a home looks cluttered for example, buyers may pass on seeing it in person. While there’s some debate as to whether home staging actually ensures higher offers, several studies indicate that staging does sell homes faster. 

A well-staged home allows buyers to better visualize themselves in the space, and also makes them more likely to overlook small issues because they are already picturing themselves living there. A survey by Coldwell Banker Real Estate Corp. found that staged homes spend half the time on the market than non-staged homes. And a National Association of Realtors (NAR) survey found that the longer homes stay on the market, the further their price drops. One study found that homes staged prior to listing sold 79% faster than those staged sometime after being listed.  

Staging helps maximize space

Maximizing space is key when it comes to staging and selling homes. However, it can seem a little more challenging when working with smaller spaces. Stagers have a lot of amazing tips and tricks that can really transform small spaces such as choosing light colors, sticking with a monochromatic color scheme, selecting the right size furniture, removing or opening curtains to let in more light, avoiding clutter, and not overstuffing shelves, just to name few.

Staging can help potential buyers see the openness of your home instead of focusing on the small square footage. Good staging will give every room a clear purpose, taking the guesswork out of things for buyers. For instance, if your living room is also a playroom, move the toys into the kids’ bedrooms until your home is sold. A professional stager will be able to walk through your home and create a flow that is beneficial to most home buyers.

When buyers can see how a space is used, they are less likely to get hung up on an unusual layout or a small floor plan, increasing their chance of putting in an offer. 

Staging from a seller’s agent perspective

According to the 2019 Profile of Home Staging report by the National Association of REALTORS (NAR), from a seller’s agent perspective:

  • Twenty-eight percent of sellers’ agents said they staged all sellers’ homes prior to listing them for sale. Thirteen percent noted that they only staged homes that are difficult to sell. 
  • The most common rooms staged included the living room (93 percent), kitchen (84 percent), master bedroom (78 percent), and the dining room (72 percent). 
  • It was common that sellers’ agents personally offered to stage the home (26 percent). 
  • When staging a home, 22 percent of sellers’ agents reported an increase of one to five percent of the dollar value offered by buyers, in comparison to similar homes. Seventeen percent of respondents stated that staging a home increased the dollar value of the home between six and 10 percent. 
  • Twenty-eight percent of sellers’ agents stated that there were decreases in the time on the market when the home is staged. 
  • The most common home improvement items agents recommended to sellers were decluttering the home (95 percent), entire home cleaning (89 percent), removing pets during showings (83 percent), and carpet cleaning (78 percent).

Hiring a professional stager or doing it yourself 

Once you decide to stage your home, the question will be whether to do it yourself or hire a staging pro.  Many factors can affect this decision, from the condition of your home to how much time and money you are willing to invest. If you don’t have the time, the know-how, or the desire to stage your home on your own, hiring a professional stager may well be your best option. The biggest benefits of hiring a stager are convenience and assurance that the job will be done right. Plus, if you don’t have an eye for decorating, you may not fully maximize your home’s value, even if you are willing to put in the legwork.

Hiring a professional stager means you don’t have to worry about deciding on all the visual and spatial details that go into impactful home staging. Of course, there is the matter of cost. Most professional stagers charge for a consultation, which can range anywhere from a couple of hundred dollars to over a thousand depending on the size of your home. The actual staging fee itself can range anywhere from $500 to $7,000, depending on how many rooms you need to be staged, the amount of work that’s required, and if there are any rental fees for furniture, art, and/or accessories mixed in. 

While home staging may have attained its popularity in higher-priced and vacant listings, it now appears in all segments of the market. As a result, more savvy real estate agents recommend sellers have their homes staged before they list, no matter the price, size, condition, or location.

Award-winning Farmington MI REALTOR® – Tom Gilliam   

Tom Gilliam is proud to be a trusted Farmington Hills MI REALTOR® for the past 20 years – offering his guidance and expertise to home buyers and sellers. Tom understands that selling your home is a significant financial and life decision and that you are looking for someone you can trust to get you top dollar. Tom partners with the most talented home stagers and real estate photographers/videographers to showcase your home’s features and help buyers envision your house as their home. 

Tom will create a competitive marketing strategy that exposes your home to the public along with other real estate agents through the Multiple Listing Service (MLS), other cooperative marketing networks, open houses for agents, and so on. Your listing will appear on all the most popular real estate sites where buyers spend hours a day looking at such as Realtor.com, Zillow, Trulia, REMAX, Redfin, and dozens of others. Your home will also be featured on Tom’s own highly-trafficked website homes2moveyou.com.

As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and do whatever it takes to get your home sold fast for the best price. Feel free to reach out to Tom directly at (248) 790-5594 or you can get in touch by email.

Article sources:

https://www.nar.realtor/research-and-statistics/research-reports/profile-of-home-staging
https://www.nar.realtor/sites/default/files/documents/2019-profile-of-home-staging-03-14-2019.pdf
https://magazine.realtor/home-and-design/feature/article/2020/03/why-staging-matters
http://realestateagentu.com/11-incredible-home-staging-statistics/
https://www.nar.realtor/infographics/profile-of-home-staging-2019
Real Estate Staging Association (RESA): Consumers Guide to Real Estate Staging

Selling Your Farmington Hills MI Home? Avoid These Mistakes

Selling Your Farmington Hills MI Home? Avoid These Mistakes

Selling Your Farmington Hills MI Home? Avoid These Mistakes 

Selling your Farmington Hills MI home can be surprisingly time-consuming and emotionally challenging, especially if it’s your very first time. With no experience and a complex, emotional transaction on your hands, it’s easy for first-time home sellers to make mistakes. However, with a little know-how, you can avoid many of these pitfalls. Read on to find out how to sell your house while getting the highest market price within a reasonable time frame – and without losing your mind.

Not keeping your emotions in check

Once you decide to sell your Farmington Hills home, start thinking of the transaction from a purely financial perspective. That way you can distance yourself from the emotional aspects of selling it. While your home is full of sentimentality and memories for you, a potential buyer will be looking at it quite differently.

Try to put yourself in the buyer’s shoes and examine the house’s attributes and imperfections. If you can remember that you are selling a piece of property as well as an image and a lifestyle, you’ll be more likely to put in the extra effort of staging and doing some minor remodeling to get top dollar for your home.

An agent can also help tone down the emotion of the process by interacting with potential buyers and eliminating those who only want to look at your property but have no real intention of making an offer. It may be hard to believe right now, but you’ll soon become just as attached to your new home as you were to your old one.

Not hiring a Farmington Hills MI REALTOR® 

An experienced real estate agent can help you at every stage of the home selling process. They are better-qualified to set the right price for the homes they list, better-equipped to market those homes, and likely to find a buyer in a shorter period of time than if you try to sell on your own. Marketing exposes your property to the public as well as to other real estate agents through a Multiple Listing Service, other cooperative marketing networks, open houses for agents, and so on.

In many markets, a substantial portion of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Real estate agents often use these cooperative relationships to benefit their clients. In addition, an agent will know when, where, and how to advertise, which medium, format, and frequency will work best for your home and your market.  Without an agent, you are the one responsible for showing the house and negotiating the sale with the buyer’s agent, which can be time-consuming, stressful, and emotional for a lot of people.

Not setting the right price  

The selling process generally begins with a determination of a reasonable asking price. One of the biggest mistakes to avoid when selling your Farmington Hills MI is overpricing it. A higher list price will not translate to more money in your wallet. In fact, the National Association of REALTORS® reported in 2020 that sellers typically sold their homes for 99% of the listing price while 38% reduced the asking price at least once.

Listing your home above market value can cause it to linger on the market and make buyers wonder why it hasn’t sold. Buyers see comparable homes in your area online every day and they know how long a house typically lasts on the market. Don’t worry too much about setting a price that’s on the low side, because in theory this will generate multiple offers and bid the price up to the home’s actual market value.

Underpricing your home can actually be a strategy to generate extra interest in your listing, and you can always refuse an offer that’s too low. Your real estate agent can give you up-to-date information on what is happening in your local market as well as the price, financing, terms, and condition of competing properties. These are key factors in marketing your home and selling it at the best price. Often, your agent can also recommend repairs or cosmetic work that will significantly enhance the salability of your property. 

Not being willing to negotiate on the asking price  

Any smart homebuyer will negotiate, and if you want to complete the sale, you may have to as well. Most sellers want to list their homes at a price that will attract buyers but still leaving some wiggle room for negotiations. The buyer then feels like they are getting good value while allowing you to get the amount of money you need out of the sale.

Be prepared to receive multiple offers if your home is priced right and don’t ignore any offers, even if it seems too low. Negotiate by making a counteroffer. Don’t be afraid to make a full-price counter offer if your price is competitive and it’s backed up by comparable sales. Whether you end up with more or less than your asking price will likely depend on whether you are in a buyer’s market or a seller’s market and how well you have prepared your home to sell.

Your agent can help you objectively evaluate every buyer’s proposal without compromising your marketing position and also help you write a legally binding, win-win agreement that will be more likely to make it through the process.

Not investing in quality listing photos  

Since most buyers look for homes online these days, and many of those homes have photos, you’ll be doing yourself a disservice if you don’t have quality visuals of your home. If you do a good job, it will set your listing apart and help generate extra interest. Good photos should be crisp and clear and taken during the day when there is plenty of natural light available. They should showcase your home’s best assets. Consider using a wide-angle lens if possible—this allows you to give potential buyers a better idea of what entire rooms look like.

Ideally, hire a professional real estate photographer to get top quality results instead of just letting your agent take snapshots on a phone. And don’t just stop at photos. Consider adding a video tour or 360-degree view to further enhance your listing. This can be easily done with any smartphone. You can certainly entice more potential buyers into walking through your doors for showings. You may even get more offers if you give them an introductory walk-through of your property. 

Not disclosing problems with your property

You really can’t get away with hiding problems with your property because they will get uncovered during the buyer’s inspection. Basically, you have three options to deal with any issues: fix the problem ahead of time, price the property below market value to account for it, or list the property at a normal price and offer a credit for the issue. Not fixing the problem ahead of time, however, could eliminate a number of potential buyers who are looking for a turnkey home.

Having your home inspected before listing it is a good idea if you want to avoid costly surprises once the home is under contract. Many states have disclosure rules and some require sellers to disclose known problems about their homes if buyers ask directly, while others require that sellers must voluntarily disclose certain issues.

Not preparing your Farmington Hills MI home for sale

Sellers who do not clean and prepare their homes for sale will have a harder time getting them sold fast for the best price. You want your home to be in the best condition possible. Take care of major defects like broken windows or a leaky roof that could discourage buyers.  If you haven’t attended to minor issues, such as a dripping faucet or broken doorknob, a potential buyer may wonder whether the house has other, more expensive issues that haven’t been addressed either.  Anything that’s obviously broken gives potential buyers a reason to submit a lower offer.

Thoroughly cleaning, decluttering, putting a fresh coat of paint on the walls, and getting rid of any odors (litter box) will help you make a great impression on buyers. In addition, you might consider hiring a professional to stage your home for showings or ask your real estate agent for help or ideas. According to the Real Estate Staging Association, homes that are staged before going on the market sell 73% faster, on average, than their non-staged counterparts.

Virtual staging apps such as Ro0omy, VisualStager, BoxBrownie allow you to stage a home digitally, then use the photos in your listings or other marketing material. Remember, you only get one chance, and sometimes only three seconds or so to make a great first impression, so make it count.  

Not estimating your costs to sell

Depending on the price range of the home, be ready to spend 9% – 10% of the sale price on selling costs, including the real estate agent commission and closing costs. Be sure to budget ahead of time for the additional costs involved with selling your home so that you will be ready when the time comes to close the deal. The main types of fees to plan for include:

  • Staging and prep fees (anywhere from a couple hundred to a couple of thousand dollars)
  • Real estate agent commissions (5.8% national average)
  • Inspections and repairs (varies)
  • Closing fees (1% – 3% of the sale price)
    • Title fees
    • Transfer or excise taxes
    • Escrow fees
    • Reconveyance fee
    • Recording fees
    • Prorated property taxes
  • Seller concessions (2% – 6%)
  • Overlap costs (1% – 2%)
  • Moving and relocation costs (varies)
  • Mortgage payoff (varies)

Your real estate agent deals with transactions every day and will be able to give you a very close estimate of seller closing costs.

Not selling to qualified buyers  

It’s more than reasonable to expect a buyer to bring a pre-approval letter from a mortgage lender or proof of funds(POF) for cash purchases to show that they have the money to buy the home. Signing a contract with a buyer may be contingent on the sale of their own property, which may put you in a serious bind if you need to close by a particular date. An unconditional offer is when the buyer does not place any conditions on their offer. This is often preferred by sellers as it is an easier option and the sale can proceed quickly.

The takeaway

Selling your home will likely be one of the biggest transactions of your lifetime. An experienced Farmington Hills MI REALTOR like Tom Gilliam can get broader exposure for your property, help you negotiate a better deal, dedicate time to your sale, and prevent your emotions from sabotaging it. An agent brings expertise to a complex transaction with many potential financial and legal pitfalls.  

Partner with award-winning Farmington Hills MI REALTOR® – Tom Gilliam   

Tom Gilliam is proud to be a trusted REALTOR® in Farmington Hills MI for the past 20 years – offering his guidance and expertise to home buyers and sellers. He understands that buying or selling a home is a significant financial and life decision and that you are looking for someone you can trust. As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and do whatever it takes to ensure a smooth transaction and the best results possible. 

Tom works hard for his clients and provides the kind of knowledge, skills, commitment, and personalized service you need and deserve when buying or selling a home. Get the process started today by reaching out to Tom Gilliam directly at (248) 790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Direct: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578 

The Benefits of A Virtual House Tour When Selling Your Farmington Hills MI Home

The Benefits of A Virtual House Tour When Selling Your Farmington Hills MI Home

The Benefits of a Virtual House Tour When Selling Your Farmington Hills MI Home – Most traditional open houses are on hold, and in-person home showings are limited, as people practice social distancing to help stop the spread of COVID-19.

The pandemic has accelerated the demand for remote accessibility as home sellers have had to pivot to technology and virtual methods in order to sell their Farmington Hills MI homes and properties. 

With gatherings of more than 10 people prohibited across most of the U.S., real estate agents have been forced to cancel open houses. But many are using tools like FaceTime or Zoom to host live virtual open houses so they can show potential buyers around a home.

Virtual tours in real estate are nothing new. For at least a decade now, some form of the technology has existed to help agents break away from the usual static photos, drive traffic to a listing, and cater to long-distance buyers.

Virtual tours are recommended by the National Association of Realtors® as a way to avoid face-to-face contact while marketing homes during the coronavirus crisis.

As a home seller, you want to sell your home quickly and efficiently. Virtual and video tours have become essential tools for buying and selling homes. A virtual tour allows potential buyers to view properties completely online using 3-D and 360-degree photography and video.

Home sellers can give buyers an in-depth look at their property without having to actually open their doors – risking the buyers’ health (or their own).  A virtual tour allows your home to be on display around the clock.  

The Difference Between a Virtual Showing and a Virtual Open House  

A virtual showing is a video walkthrough that allows an online buyer to feel like they are touring the house in person. The virtual showing is prominently featured in the online house listing and can also be promoted via social media. Homebuyers can then view and share the video at their convenience.

A virtual open house is an innovative alternative to the traditional open house, as the threat of COVID-19 can be an obstacle for homebuyers who don’t want to view homes in person as well as sellers who don’t want a lot of people walking through their home. 

An agent can guide prospective buyers through the home virtually at a specific time and date as if they were physically present and can answer questions in real-time, providing a more interactive experience.

 

 

The agent can advertise a virtual open house by contacting potential buyers and their agents and promoting the event just as they would a traditional open house. 

Here are the advantages of choosing an agent who can add a virtual showing or a virtual open house tour to your home marketing plan:

  • According to a Housing Trends Report by Zillow, 79% of buyers shop for homes online. A virtual open house gives your listing an immediate advantage.
  • Virtual open house tours allow homebuyers to view your property when it works for their schedule. Plus, for buyers relocating from another area, it eliminates the need for multiple trips, saving them time and money.
  • From bad weather to unprecedented events like the global coronavirus pandemic, physical open houses can be canceled, wasting a lot of time and effort. With a virtual showing, you don’t have to worry about the unexpected.
  • A virtual showing makes it possible for people across the world to view your property in greater detail, expanding the potential buyer pool.
  • Traditional open houses can attract people who aren’t actually in the market for a new home. When your open house is virtual, this won’t be an issue.
  • Potential buyers have a better sense of whether the home is a good fit before they even contact you, so you’ll get more serious inquiries.

An innovative and experienced Farmington Hills MI REALTOR® like Tom Gilliam, who is ahead of the curve and already using this technology, provides a clear advantage for his clients. If you’re planning on selling your Farmington Hills MI home sooner than later, a high-tech approach to marketing your home is a must. 

Partner with Top-rated Farmington Hills and Oakland County MI REALTOR® -Tom Gilliam for Unmatched Expertise in Buying and Selling

 2020 Best of Farmington Hills REALTOR - Tom GilliamA top-rated Farmington Hills and Oakland County MI real estate agent like Tom Gilliam can show you more properties and save you thousands of dollars when buying a home. You need an agent who knows the area, processes a vast network of local connections, and has the skills to negotiate like a pro.

From first-time homebuyers to multi-million dollar investors, Tom continually strives to provide top quality service for his clients. With access to the most up-to-date MLS listings for Oakland county MI properties, Tom is able to match your lifestyle needs with the perfect home.

If you are ready to list your current property, Tom has the experience and skills necessary to handle the sale and marketing of your home for the best possible results. Tom employs the latest technology to deliver massive exposure and drive maximum response from qualified buyers.

Tom also partners with the most talented home stagers to ensure that your home is thoughtfully staged to showcase its features and amenities. With over 25 years of local real estate experience, Tom will protect your interests, advocate for you, and go above and beyond your expectations to ensure a smooth and successful transaction.

If you or someone you know is interested in buying or selling real estate in Farmington Hills or Oakland County MI, please give Tom a call today at 248-790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578

Pin It on Pinterest