Understand why you are selling your home.
Your motivation to sell is the determining factor as to how you will approach the process. It affects everything from what you set your asking price at to how much time, money and effort you’re willing to invest in order to prepare your home for sale.

Keep the reason(s) you are selling to yourself.
The reason(s) you are selling your home will affect the way you negotiate its sale. By keeping this to yourself, you don’t provide ammunition to your prospective buyers. When asked, simply say that your housing needs have changed.

Before setting a price, do your homework.
When you set your price, you make buyers aware of the absolute maximum they have to pay for your home. As a seller, you will want to obtain a selling price as close to the list price as possible. If you start out by pricing too high, you run the risk of not being taken seriously by the buyers and their agents. The best way to learn about your competition is to check out other open houses. Note floor plans, condition, appearance, size of lot, location and other features. Note not only the asking prices but what the homes are actually selling for.

When getting an appraisal is a benefit.
Sometimes a good appraisal can be a benefit in marketing your home. However, an appraisal does cost money, has a limited life, and there’s no guarantee you’ll like the figure you hear.

Tax assessments—what they really mean.
Some people think that tax assessments are a way of evaluating a home. The difficulty here is that assessments are based on a number of criteria that may not be related to property values, so they may not necessarily reflect your home’s true value.

Deciding upon a Realtor®.
According to the National Association of Realtors, nearly two-thirds of the people surveyed who sell their own homes say they wouldn’t do it again themselves. Primary reasons included setting a price, marketing handicaps, liability concerns, and time constraints. When deciding upon a Realtor®, consider two or three. Be as wary of quotes that are too low as those that are too high. All Realtors® are not the same! A professional Realtor® knows the market and has information on past sales, current listings, a marketing plan, and will provide his/her background and references. Evaluate each candidate carefully on the basis of his/her experience, qualifications, enthusiasm, and personality. Be sure you choose someone that you trust and feel confident that he/she will do a good job on your behalf.

Appearances do matter—make them count!
Appearance is so critical that it would be unwise to ignore this factor when selling your home. The look and “feel” of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.

Invite the honest opinions of others.
The biggest mistake you can make at this point is to rely solely on your own judgment. Don’t be shy about seeking the honest opinion of others. You need to be objective about the good points of your home as well as the bad ones. Fortunately, your Realtor® will be unabashed about discussing what should be done to make your home more marketable.

Get it spic ‘n span clean and fix everything, even if it seems insignificant.
Scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeaks, the light switch that doesn’t work, and the tiny crack in the bathroom mirror; because these can be deal-killers, and you’ll never know what turns buyers off. Remember, you’re not just competing with other resale homes, but brand-new ones as well.

Allow prospective buyers to visualize themselves in your home.
The last thing you want prospective buyers to feel when viewing your home is that they may be intruding into someone’s life. Avoid clutter, such as too many knick-knacks, etc. Decorate in neutral colors, like white or beige, and place a few carefully chosen items to add warmth and character. You can enhance the attractiveness of your home with a well placed vase of flowers or potpourri in the bathroom. Home-decor magazines are great for tips.

Deal-killer odors must go!
You may not realize it, but odd smells like traces of food, pets, and smoking odors can kill deals quickly. If prospective buyers know you have a dog, or that you smoke, they’ll start being aware of odors and seeing stains that may not even exist. Don’t leave any clues.

Be a smart seller—disclose everything.
Smart sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent lawsuits later on.

It is better with more prospects.
When you maximize the marketability of your home, you will most likely attract more than one prospective buyer. It is much better to have several buyers, because they will compete with each other. A single buyer will end up competing with you.

Keep emotions in check during negotiations.
Let go of the emotion you’ve invested in your home. Be detached, using a businesslike manner in your negotiations. You will definitely have an advantage over those who get caught up emotionally in the situation.

Learn why your buyer is motivated.
The better you know your buyers the better you can use the negotiation process to your advantage. This allows you to control the pace and duration of the process. For example, does your buyer need to move quickly? Armed with this information, you are in a better position to bargain.

Moving out before you sell can put you at a disadvantage.
It has been proven that it’s more difficult to sell a home that is vacant because it becomes forlorn looking, forgotten, no longer an appealing sight. Buyers start getting the message that you have another home and are probably motivated to sell. This could cost you thousands of dollars.

Deadlines create a serious disadvantage.
Do not try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage in negotiations.

A low offer—do not take it personally.
Invariably the initial offer is below what both you and the buyer know he will pay for your property. Don’t be upset—evaluate the offer objectively. Ensure that it spells out the offering price, sufficient deposit, amount of down payment, mortgage amount, a closing date, and any special requests. This can simply provide a starting point from which you can negotiate.

Resist deviating from the contract.
For example, if the buyer requests a move-in prior to closing, just say “no,” that you’ve been advised against it. Now is not the time to take any chances of the deal falling through.