Louisville Real Estate News

If you either have to or decide to vacate your house while it is for sale, you have two choices.  You can leave the home empty and hope buyers can visualize their belongings in the rooms.  Or you can hire a professional Stager to bring in furniture/accessories in an attempt to make the home more appealing to buyers.  If you choose the later, you obviously want the cost to be offset by either a faster sale or higher price. 

Assuming you choose the second option, your desire to have the home maintained in pristine condition should be even higher.  You are now paying a mortgage plus a rental fee for the furniture.  However, you put all of this money at risk, if you don't either check on the home yourself or have someone do it for you.  

Luxury home buyers in Louisville should not have to cut through spider webs in the basement a la Indiana Jones in the opening scene of Raiders of the Lost Ark.  They should not have to overlook a multitude of dead insects in the kitchen and living room. Nor should they have to try to erase the memory of 2 dozen dead flies in the jacuzzi tub.  This really does not promote the emotions you are paying to obtain.

Now, one could argue that these are minor inconveniences that are easily remedied.  That the staging will help buyers focus on the positives and move on.  I might even agree.  But I promise you, when she finds a dead bat in the master shower, she heads for the door immediately.  She does not look at the furniture (or the entire upstairs for that matter) and your money is wasted. 

If you are looking for a Louisville real estate agent who would be more than happy to monitor you vacant home, please call 502-921-3989. 

As tempting as it is, I will not be showing a photo of said shower.  The above photo is courtesy of vladeb on Flickr.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliancein Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estateor to Search for Louisville Homes 

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Give Buyers What They Want

Buyers love to look.  Good photos satisfy this urge and make them want to see more.  Poor photos and disturbing and may be a turn-off.  Only having one photo says "the inside is a disaster." I have had multiple buyers (including my wife) refuse to go see homes that don't have photos. 

Even if the house needs a little work, it is better to give prospective buyers an understanding of what they are getting than to surprise them when they step in the house.  This serves no purpose other than wasting everyone's time including your own.

My Own Story

We recently decided to sell our home and purchase a new one.  During the search process, we looked at hundreds of homes online.  Unless the price was ridiculously low, we skipped every property that had no photos.  We also discounted many that had few or poor quality photos.  Like many buyers, I have neither the time nor the energy nor the desire to look at a home where the agent and home owner don't care enough to add decent photos. 

Four Simple Rules

1. Your real estate agent must have a wide-angle lens or be willing to hire a professional to take photos.
2. Your agent must take as many pictures as possible and place them on the MLS.
3. Whenever possible, photos of neighborhood or nearby amenities should be included.   
4. If you don't like the photos, be proactive and tell your agent to retake them.

This the 6th post in a 7-part series.  For more, click the following links...

• How to Sell a Louisville Home - Part 1 - Overview
  
• How to Sell a Louisville Home - Part 2 - Why Price Matters
• How to Sell a Louisville Home - Part 3 - Comparative Market Analysis
• How to Sell a Louisville Home - Part 4 - Preparing your Home
• How to Sell a Louisville Home - Part 5 - Paperwork
  

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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 Get Louisville Real Estate News by Email

How to Sell a Louisville Home - Part 5

When you are ready to sell your Louisville home, there are a handful of documents that need to be signed.  Some of these documents are designed to disclose the roles and responsibilities of the sellers (you) and their real estate agent.  Others detail the property characteristics and make sure that all material information is correct and will be available to buyers. 

The process is not quite as painful as you may believe. I'll complete as many of the forms as possible prior to our meeting.  Of course, I want you to ask as many questions as you need in order to understand each document in detail.

Listing Documents

We will primarily cover 7 forms during the listing appointment.  The basic purpose of each and a few relevant details are shown below. 

1) Consumer Guide to Agency Relationships

As a Kentucky real estate agent, I am required to review this document with you at our first meeting or prior to any discussion relating to confidential information.  I will discuss the different forms of agency relationships (Buyer, Seller, Dual) and cover how my fiduciary responsibilities would apply in each case.  I'll also review the fact that our brokerage does cooperate with other brokerages and the Fair Housing requirements. 

When you sign this document, you are acknowledging that you have received it and under the contents.  This does not obligate you to use my services in any manner.

2) Listing Agreement

This is the contract between you and my brokerage to list your home for sale.  Your home address and the terms of the listing (price, commission, length, etc).  Unlike the Consumer Guide, this is a legally-binding contract.  By signing this document you are committing to move forward with RE/MAX Alliance representing you.

3) Greater Louisville MLS Input form

This form has roughly 7,342 fields to be completed.  Fortunately for you, I will complete most of it when I complete your CMA.  However, it is critical that we review the data carefully.  Any mistakes here could cause your property to come up ,or worse not at all, during searches.

4) Seller's Disclosure

In Kentucky, we have a 3 page Seller's Disclosure that must be completed for residential home sales unless a builder is offering a 1-year warranty. 

You are responsible for revealing any and all known issues that have arisen since you owned the home.  DO NOT under any circumstances stretch, bend or hide the truth.  Buyers understand that things happen.  As long as you have corrected the problem (or made a concession) those who like your home will be willing to move forward.  It is a huge understatement to say courts tend to side with buyers when it is determined the seller omitted an issue.  So, DISCLOSE, DISCLOSE, DISCLOSE.

5) Lead Base Paint Disclosure

The Federal Government banned lead-base paint in 1978.  This disclosure notifies buyers homes built before that year may contain lead-base paint.  If you have had any testing done to determine the presence of lead, you must disclose the test and test results.

6) Home Warranty

We'll discuss the pros and cons of offering a home warranty to prospective buyers.  On this page, you simply accept or refuse to offer the warranty.

7) Estimated Seller's Net Proceeds

An estimate of the amount of money you will receive when your home sells.  Taxes, closing costs, commission, and your mortgage balance(s) are subtracted from the estimated sales price.  I try to be realistic but conservative in order to avoid confusion at closing. 

This the 5th post in a 7-part series.  For more, click the following links...

How to Sell a Louisville Home - Part 1 - Overview

How to Sell a Louisville Home - Part 2 - Why Price Matters

How to Sell a Louisville Home - Part 3 - Comparative Market Analysis

How to Sell a Louisville Home - Part 4 - Preparing your Home

'Pen' photo licensed via Creative Commons from tmab2003 on flickr.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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Staging Your Louisville Home to Sell

In case you are unfamiliar with the term, Staging is simply the concept of making your home as attractive as possible while it is on the market.  The context is the same as washing and waxing your car before trying to sell it or batheing your children before church.  You want people to have a favorable impression.

Buyers (especially the first-time home buyers currently dominating the market) often cannot imagine what a house could look like.  Instead they see what it does look like.  So, if they see a dirt, clutter, or colors they do not like, they walk away.  Occasionally this is to their own detriment as they may pass on an excellent home over something that has little relevance.  However, it is ALWAYS a problem for you as a seller. 

I am not a Stager nor did I stay in a Holiday Inn Express last night.  I do, however, know what Louisville buyers expect when they enter a house.  More importantly, I know what they do NOT expect.  An unkept, odor-filled house comes in third after dead-bodies and functioning meth labs. 

Excluding price and location, the difference between a home selling and languishing  is generally its condition.  The good news is that most issues can be resolved quickly and inexpensively.  Best of all, professional Stagers do exist in Louisville and can help address the critical items that would otherwise cause problems.  During the listing appointment, your real estate agent (me, of course) will talk about these things so they can be addressed prior to putting the house on the market.

Key Points

Cleaning

On multiple occasions, I have entered a home with clients only to turn around and walk back out.  This only occurs because the home is a mess or has a strong odor.  Each time, it is disappointing as the clients obviously had an interest in the home.  As sellers, cleaning is possibly the best investment you can make in your home.  A few hours of work and $50 worth of supplies could put hundreds if not thousands of dollars in your pocket.  If you are too busy, spend the money and hire a cleaning service.

Clutter

Your pictures, bowling trophies, thimble collections, etc are great.  They reflect who you are and make help turn your house into a home.  You should display these items proudly UNLESS you are trying to sell.  Buyers have their own stuff and want to try to envision it in the house.  This is hard enough under the best of circumstances, but nearly impossible if your stuff is in the way (see paragraph 2).  So pack it up.

While you are at it, pack everything that is not an absolute necessity for the next few months.  This includes out of season clothes, extra dishes, towels, linens, shoes, books, children's toys, etc.  Countertops should be mostly clear, closets should be 1/2 full, and walls should have a minimal number of items hanging from them.  The object is to make the home look as spacious as possible.  When in doubt, pack it. 

Color

The black paint supports your teenager's Goth image, the blue dining room shows your dedication to the University of Kentucky, and the purple inspires passion in the master bedroom.  I get it.  Now paint over it.  The chances of another sex-crazed, Wildcat fan with a manic-depressive kid buying your home are low.  You need to appeal to the masses.  Again, buyers can't see past color.  It's such an easy thing to do.

Purpose

Finally, remember that each room should have one purpose.  Take the computer out of the kitchen.  Remove the card table from the center of the living room and take the home gym out of the master bedroom.

Summary

Simple things can prevent your home from selling for top dollar or even from selling at all.  By properly preparing your home for the market, you can influence buyers.  Take a few minutes, start at the front door, and walk through your home as a buyer would.  Ask yourself if you notice the house or the stuff.  Are things out of place or dirty?  Can you move through it easily and does everything make sense?  If you see something wrong, buyers will too.  You need to fix it before the house goes on the market.  

There are professional Stagers in Louisville who can help for a fairly minimal cost.  During the listing appointment, I'll be glad to give you some contact names.

This the 4th post in a 7-part series.  For more, click the following link...How to Sell a Louisville Home

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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Determining the proper price for your Louisville Home

Now that you understand Why Pricing Your Home Correctly is so important, the next step is to actually understand the process.  Determining the proper list price for your home is a lot like constructing a puzzle.

Start with the Outside

The process starts by constructing the framework.  Your real estate agent --that's me of course:)-- will review information from you, past and current homes for sale, tax records, and Google Maps to determine the basic characteristics of your home.  Among other things, I am looking for

• Style
• Square Footage
• # of Bedrooms
• Number of Baths
• Presence of a Garage
• Presence of a Basement
• Features (Hardwood, Granite, Tile, Deck, Fireplace, Pool, etc)
• Lot Size and Description
• Surrounding Amenities that help values (golf course, parks, playground) and,
• Those which hurt (cemetaries, highways, and prisons).

Gathering and organizing all of this data is equivalent to assembling all of the edge pieces.  The borders are now defined, but a lot of work still needs to be done before the picture is clear.

Working on the Big Picture

The next step is to start filling in the center.  This is often best accomplished by gathering similar pieces that define large or unique sections of the puzzle.  Likewise, your agent researches the homes in your area of Louisville that have been on the market in the last 6-12 months.  As I look at each home, I try to determine whether it is related to yours or if it needs to be set aside and worked into the puzzle later.  The most similar properties are studied in attempt to determine why they sold (or didn't sell) for a given price.  Your home is then compared versus each of the similar properties to identify strengths and weaknesses.  After some time, a very large section of the puzzle is defined.

Filling in the Fringe Details

Neighborhood data comes next.  During this portion of research, my main concern is to see how the market is doing.  Louisville real estate is hyper-local and one neighborhood may be flourishing while the next is floundering.  I'll look at how long it takes homes to sell, number of homes on the market, recent sales, number of foreclosures or short sales, etc.  Most likely, I'll drive through the neighborhood and past your house to make sure I understand why the data is what it is.  Once these trends are understood, the puzzle is 95% complete.  I am now able to see enough to determine a fairly accurate price range and am ready to visit your home.

The Final Pieces

The puzzle comes together during the tour of your home and our subsequent conversation.  No CMA can completed accurately without seeing the home.  (This is why I have such disdain for "Automated CMAs," but that is the subject of another post).  The condition of your home is a major factor in determining whether you will be able to sell at the top of the price range or whether an Arsonist would be a more appropriate hire.

After touring your home, we'll discuss your motivations and schedule for moving.  Any items that need to be corrected will also be discussed.  These are the last pieces of the puzzle.  I can now recommend a sales price and listing price that will give you the best chance to get your house sold.

Special Note

At no point in the process do I consider what you owe, need, or want to get out of the house when determining price.  Simply put, the market doesn't care whether you own the house free and clear or are so far underwater you can't even tell which way is up.  I, of course, care deeply about making sure you get every last penny you can.  Later in this series, I'll discuss a few tips that will put a few coins in your pocket but pricing unrealisitically is not one of them.

This the 3rd post in a 7-part series.  For more, click the following link...How to Sell a Louisville Home

*Photo licensed via Creative Commons from Jared on Flickr.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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Pricing your Louisville Home to Sell

"I won't take a dime less than $300,000."

"I put $50,000 into this house and I expect to get every penny of it back."

I imagine playing ball with Timmy in Waverly Hills Sanatorium would cause me less consternation than sitting across a kitchen table from a seller who just uttered those words.  Hair-raising, spine-tingling, bowel-loosening horror is the closest description I can come up with. As a listing agent, my job is protect your interests while helping you achieve your goal of selling the house.  This is generally accomplished by working WITH you to get the most possible money in the shortest amount of time.  Exclamations like those above, indicate we are not only not on the same page, but also not reading from the same book.

Value - Capitalism Style

The value of any Louisville home is the price a willing buyer and willing seller agree upon.  Buyers and their agents are educated.  Buyers have access to automated CMAs, tax records, and other tools that can give them an indication of where your home should be priced.  Agents have even more data as well as algorithms, market knowledge, and experience to draw upon.  If either or both think your Louisville home is overpriced, they will not waste their time scheduling a tour.

Having your home sit, will cost you even more money.  First, you continue to make mortgage payments every month.  Much of that payment is interest that you will not recover in a sale.  Second, properties that have been on the market a long time tend to become stigmatized.  Even if you lower the price to market value, buyers think there must be something wrong with it.  The end result, is you have to make as additional reduction.

If you really want to get the most money when selling your Louisville home, you will price it at or slightly (2-3%) above market value.  This value is determined by analyzing active and sold homes in your area with similar square footage, features and amenities.  Please note that what you want or need is not a factor in this equation.  Although, the calculated price will hopefully cover both.

The best part of accurate pricing is the chance for a quick sale.  Studies have proven that homes get the most activity within the first 6-8 weeks.  When the price is right, buyers will want to see the home.  Of course, the more buyers who show-up at your door, the higher the odds are you will get an offer.

So, as we sit down to talk about listing your home, the correct statement should be "I want to price my home at market value so it will sell and I can get on with my life."  If you say this, I promise I'll have a huge smile on my face as soon as I get back up off the floor.  I'll know you are serious and that together we will accomplish your goals.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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How to Sell a Louisville Home

Chances are you haven’t sold a home in a while, if ever.   To do so properly requires teamwork between the real estate agent (aka me) and the homeowner (aka you).  If we work together and follow the principles discussed below, we can create a win-win situation.  You will be able to sell for the most money in the shortest amount of time and move on with your life.  I will earn your undying gratitude and be the namesake to your first born.  (Ok, I’ll settle for a referral).

There are 3 main factors influencing your ability to sell your home – Price, Preparation, and Promotion.  This post and the linked articles attempt to explain why each matter and how we can influence each to achieve your goals.  Several of the links contain “Insider’s Secrets” so be sure to click on each.  

Sell Your Louisville Home - Price

1.  Capitalism at its Finest

Pricing your home properly is the single most important aspect of getting your home sold.   If you price too high, no one will see the home.  If you price too low, you will give your equity to the buyer.  Both are lousy alternatives.  The goal is to find the correct listing price based on market conditions. 

For more, see: How to Sell a Louisville Home - Price

2.  What is a CMA? (Hint – Not Country Music Awards)

As a Louisville real estate agent, I believe in a 3-step process for completing the Comparative Market Analysis on your home.  The initial step is to create a rough valuation model based on general features of other homes for sale and recently sold in your area.  Items such as the number of bedrooms, number of baths, presence of a garage or basement and size of the home are included.  The estimate is then further refined based on additional home and feature amenities.  The model is completed after an in-home tour to verify curb appeal, condition, and floor plan. 

3.  The Price is Right

Completion of the CMA is a starting point when it comes to pricing your home.   The result of the CMA is the price your home is likely to sell at in reasonable amount of time.  However, you have particular wants and needs that can affect the list price.  For instance, I recently had clients who wanted to sell their home and move before their next child was born.  As she was 7 months pregnant, we were a bit more aggressive on the pricing.

For More See - The Price Puzzle

Sell Your Louisville Home - Preparation

4.  Pimp Your Home

The condition of your house is the second biggest contributor to whether your home will sell for the most money possible.  Many buyers, especially the first-time home buyers, who currently dominate the market, cannot see past dirt, clutter, or even the color of your home.  By cleaning, decluttering, and neutralizing your home, you can sell faster and for more money.

For more See - Preparing Your Louisville Home for Sale

Sell Your Louisville Home - Promotion

5.  Paperwork - Ugh

Of course, a perfectly price and staged home cannot sell if no one knows about it.  When we meet to discuss the sale of your home, I will have a handful of forms for you to fill out.  (Don’t worry; this isn’t as painful as going to the dentist….  That part comes later).  This post will describe the key forms and give you a little background on why you need to complete them.   

6.  Real Estate Porn – Buyers love to look

Just like you, buyers are busy.  They want information that is accurate and easy to understand.  Quality photos are the most efficient way to meet their needs.   By having good photos attached to your listing, the buyers who show up at your door are more likely to be very interested.  This will be important to remember when you have to walk out the door when there is still 2 minutes left on the game clock. 

7.  Syndication – Ready for Prime Time

Like the lottery, finding buyers is a numbers game.  Putting your listing on the MLS only, is no longer a valid strategy.  There are 795,643 websites that list properties, but do not syndicate from the MLS.  (I know this number is accurate because each of them feels obligated to call me weekly).  When you list your home with me (not that you really have a legitimate other choice), your Louisville Home will show-up on dozens, if not hundreds of locations. 

Let's Get This Party Started

Now that you understand the basics of getting your Louisville home sold, call me (502-921-3989) and let’s get started.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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I was contacted recently contacted by a couple who wanted to sell their Louisville home and purchase a new one.  During our initial phone conversation, they explained their family was expanding and they needed a larger home.  In fact, the wife wanted to be settled into her new home before giving birth to their next child.  She was 7 months pregnant at the time!  No pressure there.

I generally spend a few hours checking comps before I go on a listing appointment.  But this time, I probably spent double that.  Checking and rechecking each home to verify the price range I would propose.  I finally came up with about a $4,000 spread that I would adjust based on the condition of the home. 

When I walked into the house for the first time, I was pleasantly surprised.  It was tastefully decorated and immaculate.  Further, the seller's practically begged me to tell them additional things to do.  After making a few suggestions and seeing everything the home had to offer, I actually raised my recommended list price.  While I was confident that the house would sell if I could get buyers in the door, this still seemed like a long putt.  I explained the average DOM for this area / price was 90 days, but felt confident we could beat it.

Imagine the seller's thrill when we received an offer the next afternoon.  In fact, the first-time home buyers were so well-educated regarding market conditions that they recognized the value and made a strong offer initially.  My clients didn't even counter.  One day after the home was listed, we had an accepted contract!

I've repeated myself ad nauseum (largely via copy-paste) that Louisville homes which are priced, prepared, and promoted correctly will sell.  This is just another example of how sellers and their agent can work together to accomplish a goal. 

Related

Why Choosing the Right Listing Agent Matters

Final Stats

LP/SP = 98.3%

DOM = 1

DUC = 30

Are you ready to sell your Louisville Home? Do you want to move on with your life in the simplest, most stress-free manner possible?  Do you want to take advantage of the buying opportunities, tax credits. and interest rates being offered? If so, what are you waiting for, all 502.921.3989 and let's get started!

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estateor to Search for Louisville Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email

The beginning of a relationship is always exciting.  Deciding what to reveal and what to hold back.  Becoming less reserved as we figure out that our personalities align.  Sharing hopes and dreams knowing we can achieve them together.  And finally, forming a union to do just that.

Unfortunately, not all unions are perfect.  Despite our best intentions, one side or the other ends up feeling neglected, let-down or, even worse, deceived.  Sometimes these feelings are valid.  Sometimes they are the result of misperception.  Either way, the problem must be solved quickly.  If avoided, it will fester and grow.  Taking on a life of its own and breeding contempt, disgust, or possibly hate. 

To let you down is my worst fear.  If I do, I hope you give me the chance to fix it before it's too late.  But, sometimes relationships just don't work out.  When this happens, be honest.  Come to me and let me know you want out. 

You are not trapped.  While it may be painful, I'll sign the papers.  After all, it's not like we were married, it's just a listing agreement.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliancein Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estateor to Search for Louisville Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email

Selling your Louisville Area Home

Whether you are trading-up, downsizing, relocating, or simply have to; you have decided to sell your home.  You obviously want to do so as quickly and for the most money as possible.  To achieve these goals, you need to find a good agent.  Unfortunately, this is where some sellers go wrong and it ends up costing them thousands of dollars and a ridiculous amount of time (an even more precious commodity).  The good news is you can avoid this scenario with very little effort and knowledge of a few insider secrets. 

Secret #1

I'm almost embarassed to type this next part...

For an agent to list your Louisville area home, they need 1) an active Kentucky real estate license, 2) a signed listing contract and 3) a picture (yes - just one) of the house.  In case the implications are not clear, listing a Louisville home does not require that the agent live in the same area.  Agents in Bardstown, Elizabethtown, Lexington, Corbin, or even Ashland can list a home in Louisville.  In fact, there is no requirement that an agent even visit the house, neighborhood, and/or city.

Secret #2

Price is the most important factor in selling a home.  This really shouldn't be a secret.  But hardly a day goes by when I don't look at the MLS and wonder.  You want and need to have your Louisville home priced in a manner that will best help you achieve your goals.  The best way an agent can help you set that price is to know the market, to know the neighborhood, and to know your house. 

Dirty Secret #1

Some agents will try to 'Buy the Listing.'  Instead of telling you the market price of the home, the agent tells you a price they think you want to hear.  If you are not careful, your house ends up over-priced.  This is the worst possible scenario.  Your home gets the most attention within the first few weeks of being listed.  If it is underpriced, you have the possibility of a multiple offer situation.  If it is over priced, it will languish on the market.  Even if you correct the price later, the house will be stigmatized because of the length of time on the market.  I assure you buyers will say, "No one has bought that house in 4 months, there must be something wrong, let's not waste our time."  

Secret #3

Not all websites are fed from the MLS.  Just because your house is listed online doesn't mean a buyer will find it.  Sites such as Google, Homes, Zillow, Trulia, Activerain, Craigslist, and many others require agents to input their listings directly.  Obviously, you want your agent to do this.  The more people who see your house, the higher the odds are that the One True Buyer will find it.  A whopping 30% of the people who click through to see virtual tours of my listings come from sites not fed from the MLS. 

See Also: Marketing You Home Online

Secret #4

Photos matter more than you think.  Ok, if you have started looking for a new home, this might not be a secret.  Nothing screams Avoid Me Like the Plague more than a listing with a single photo of the outside of the house.  I have had buyers (including my wife) who refused to go see homes without multiple photos.  Photos that are blurred, have poor lighting, or feature items such as dirty dishes, dirty laundry, dirty pets, or dirty old-men are also not beneficial.  Wide-angle lenses make a world of difference.   

Interview Prospective Agents

Now that you understand these fundamentals, you are in great shape to select a listing agent who will help you achieve your goals.  Here are seven questions to ask to verify you are choosing a REALTOR who will truly help you get your house sold. 

1) How familiar are you with my area?  Have you been in or near my neighborhood?

2) How do you complete your Comparative Market Analysis (Pricing Recommendation)?

3) Will you be able to show me justification for the price when we meet?

4) Beyond placing my house on the MLS, what other marketing activities do you perform to attract buyers?

5) How many photos do you typically put on your listings?

6) Do you use a wide-angle lens? A professional photographer?

7) Are you among the 8-10% of listing agents who use virtual tours?

Of course, you are more than welcome to skip this formality and simply call me at 502-921-3989.  

* * * * *

Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliancein Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estateor to Search for Louisville Homes 

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