So you’re thinking of selling your Pasadena home. Great! You’ve come to the right place. This is the first post of a multiple series on how to sell your Pasadena Home.
Yes… you can use the services of a Pasadena Real Estate Agent. Or, you can choose to sell your Pasadena home by yourself. Either way, Pasadena home sellers have to follow a home selling process.
Prepare your Pasadena Home for sale:
Before you consider advertising or marketing your Pasadena home, you need to make sure that it’s in market ready condition. That involves several steps:
- Go through each room of your house and be honest with yourself about the items that need to be repaired or replaced. Come on… you know what I mean…
- Order a pre-inspection by a California licensed real estate home inspector. You can get a list of Inspectors from CREIA , California Real Estate Inspection Association or just give me a call and I’ll recommend a few. Buyers will do it the moment they open escrow. Why be surprised later or give the buyers and additional negotiating power, especially in today’s real estate market.
- Get rid of clutter. Clutter is translated to thousands of lost sale dollars. Trust me on this. I’ve seen it time after time.
- Take down most if not all of your family photos. Buyers want to picture themselves in the house, not YOU, the seller.
- Take a look at the outside of your house. Does it need paint? How is the landscaping? Will buyers be able to get to your front door without tripping over tree roots or toys left outside. Is the front door painted and welcoming? Are there cobwebs covering the entry?
- CLEAN, CLEAN, CLEAN – now that you’ve made the necessary repairs, start cleaning furiously – windows, floors, carpeting, BATHROOMS (yes… go to the extremes – take a q-tip and run it around the base of your toilet – what do you find?) Make your home SPARKLE! As you clean, just tell yourself that you’re cleaning for $s!
- Hire a Stager. When I sold my own house last year, I hired Nicki Rothwell of GetStaged2Sell to stage my house. Staging is absolutely critical in today’s real estate environment. If your house is staged it will sell faster and for more money – guaranteed!
READ MORE: What is Staging
READ MORE: Make a Great First Impression
Determine a Price for your Pasadena Home:
After preparing your Pasadena home for sale, pricing is the most critical part of the selling formula. If your Pasadena home is overpriced, it will just sit on the market. Let me repeat this, it WILL sit on the market! The longer your home is on the market without offers, the less negotiating power you will have, the less you will sell your home for. Simple, isn’t it?
Pricing is not easy. It takes a lot of data, experience and knowledge of the market.
- Start out by pullilng the comparables for your area for a minimum of the last three months, but you really need the last 6 months or so. When I say “your area”, I don’t mean the whole city of Pasadena. Look at a quarter mile radius of real estate activity around your home and at the zip code of your home and only then at how Pasadena real estate market is doing in genera.
- Identify real estate market trends. What is the absorption rate for your area? How long has it taken other Pasadena homes to sell? What is the going price per square foot? Are Pasadena homes selling close to asking? What is the inventory volumes are like? What is the buyer’s index for the area. I think you get what I’m getting to. Know your numbers inside and out. Your potential buyers will! I have free market report tools on this website that you can subscribe to. Whether you sell your home yourself or choose to have a Real Estate agent help you with this process, please use them. Be informed!
- Know your competition! How many homes are available for sale in Pasadena right now? Go see each and every one of them. What do these homes have that yours don’t? How are these Pasadena homes priced? How do they compare to yours? Ask yourself, if you were looking to a buy a house in your Pasadena neighborhood right now, which house would you buy given the going price YOURS or someone elses?
Revisit real estate market trends weekly! We are in a changing real estate market. You need to be on top of the real estate activity and trends.
Decide how you will market your Pasadena Home
You’ve done the hard work – your Pasadena home looks great. It’s been staged. You know you priced it correctly. Now… how will you market your home?
Create a budget, especially if you are selling your home yourself.
- Newspaper Marketing – one of the most expensive marketing methods to date in the real estate community. Also, not very effective. Even Los Angeles Times decided to pull their Real Estate Marketing section out of LA TIMES. Although, there could be some local papers or publications in your specific area that are more budget friendly and make sense to use.
- Internet Marketing – now that is where the action is. Effective means of advertising that has a very wide reach. Here are just some of the websites that you should be utilizing. I have a list of hundreds of websites that my Pasadena Home Listings are entered into.
- Market to the Real Estate Agent community. It is imperative to let the local real estate professionals know about your Pasadena home for sale. Whether you sell your home yourself of not, the chances of a real estate agent representing the buyer are overwhelming. Remember exposure to buyers is key. The more eye-balls you get on your home, the faster it will sell. Think of how you will marke to these agents. Will you deliver flyers to local real estate offices? Will you email to them? Of course, if you use the services of a professional real estate agent, they will do this for you. Interview your agent first and specifically ask them how they intend to market your home to other real estate brokers.
- Market your home to the people that already live in your neighborhood. You’d be surprised to how many of your neighbors know someone that wants to live next to them. Friends? Family members? The possibilities are endless. Don’t take your neighbors for granted. Her’re a couple of ideas:
- You might want to have a special Neighbors Only Preview Open House
- Create a CD presentation to distribute to your neighbors. Just in case they are busy and can’t visit the Open House
- Send out letters to them letting them know that you’re selling.
I hope the formula for a successful home sale above will help you understand the process of selling your Pasadena home. This should also help you determine whether or not selling your home by yourself is a good, viable option for you. Stay tuned for more in this series focusing on additional necessities like completing disclosure paperwork, drafting and reviewing real estate contracts, creating a flyer, etc.
READ MORE: Part II of the Series
In the meantime, feel free to leave specific questions in the comments section and I will address them as part of this home selling series. Happy selling!
Irina (626) 629-8439