Excerpt from:  Virginia Real Estate News
.
August 15, 2007

7 Things You Must Do to Sell Your Home in Northern Virginia

Advice for Northern Virginia Seller

With the record inventories of homes for sale in Northern Virginia, it has become increasingly crucial to follow certain steps in order to sell your home in the current market.

As of this morning, there are close to 9,600 homes for sale in Northern Virginia:

  • Fairfax County:           7,630 homes for sale
    • Alexandria:       1,353 homes for sale
    • Fairfax:               787 homes for sale
    • Springfield:          717 homes for sale
    • Herndon:             595 homes for sale
    • Reston:               500 homes for sale
    • McLean:               395 homes for sale
    • Vienna:               364 homes for sale
    • Lorton:                330 homes for sale
    • Burke:                 262 homes for sale
  • Arlington County:           892 homes for sale
  • Alexandria City:             827 homes for sale
  • Fairfax City:                   166 homes for sale
  • Falls Church City:            51 homes for sale

With this many homes available, gone are the days of two or three years ago where merely placing a For Sale sign in the yard guaranteed multiple offers from buyers in days.  Today, it takes much more than luck to sell a home in Northern Virginia.

 7 Winning Things You Must Do to Sell Your Home in Northern Virginia

     1.  Price Your Home Properly

With this many homes on the market, pricing your home for sale higher than market price is a recipe for disaster.  In some areas of Northern Virginia, sales are averaging over 90 days.  Even in the areas with faster sales, such as Arlington, only the properly priced homes are selling swiftly.  Get a preliminary idea of how much your Northern Virginia home is worth.

Pricing your home right will guarantee the most potential buyers visiting and more potential for offers.  Pricing your home too high and reducing the price later is NOT a good marketing plan.  

     2.  Market Your Home Online

Over 80% of home buyers are looking for their next home online.  If you are planning to sell and purchase a new home, you already know this.  In the Northern Virginia area, the numbers are probably even higher, since we are a very technologically savvy region.  It may seem nice to have your home pictured in The Washington Post, or the Homes magazine you pick up at the grocery store, but the truth is that few home buyers find their home that way. If your home is not on the internet with multiple photos and a virtual tour, most potential purchasers will not find it.  Learn about my online home marketing plans for your home.

     3.  Make Your Home Accessible

Your home can't be sold if it can't be shown!  Make sure that your home is accessible to other real estate agents and potential purchasers.  The best way to do this is by having a Realtor lockbox on the door.  The lockbox grants access to other Realtors during set business hours to view your home.  It also serves two other purposes: 1. it is a safety device because it tracks who enters your home and at what time of day.  2.  It is a follow-up tool, because it allows your listing agent to track visits by other Realtors and follow-up with them regarding purchaser interest in your home.  If you are going to be at home when purchasers visit, please still ask their Realtor to use the lockbox.  Also, try to keep conversation with the potential buyers cordial but brief.  Anything you say can and will be used against you.  Expressing motivation to move, sentimental attachment, etc., can affect the offering price and terms. 

     4.  Make Your Home Sparkle

Multiple homes may be for sale right in your neighborhood.  Yours needs to stand out from the rest.  Please pack any clutter (you'll be moving soon, after all).  Ask me for my tip sheet on preparing your home for sale.  Have your home professionally cleaned.  Consider utilizing the services of a home stager to really make your home stand out and command the highest price.  If you've ever watched HGTV, you know what I'm talking about.  If not, give me a call and we can walk through your home together so I can advise you on preparing it for sale.

     5.  Offer Something Extra

 Just like a box of Cracker Jack offers a "Free Prize Inside" and turns an ordinary box of caramel popcorn and peanuts into something special, you may need to do the same to distinguish your home from the competition.  One way to do this is by offering a special incentive.  Some recent Northern Virginia home listings have advertised seller credits towards closing costs, free plasma televisions, condo fees paid for a year.  It doesn't need to be a great expense, but even something small that makes the purchaser feel they are getting a special deal can go a long way towards selling your home.
  
     6.  Scrutinize Potential Buyers and Their Mortgage

With all the recent turmoil in the mortgage industry, it is imperative that you ensure that the purchaser is qualified for their loan with a reputable mortgage company.  Too many sales fall through because of loan problems.  In recent weeks, several high profile mortgage companies have gone out of business.  Scrutinize potential buyers and their mortgage approvals.  

     7.  Hire a Professional REALTOR

Now more than ever, it is vital to have a professional, experienced Virginia REALTOR on your side helping you to market and sell your home.  A REALTOR has the knowledge to price your home properly, advise you on the sale, review contracts, assist in negotiations, and ensure a smooth sale.

by Brian Block
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