The answer to this question is actually quite simple.  You need a Realtor to provide you with maximum exposure to the greatest number of potential buyers for your home.  Signs, flyers, open houses, and local advertisements are all good things to do, but they actually generate very little interest.  These methods just don’t reach enough buyers.  The greatest tool that Realtors use, and the biggest reason you need to sell your home with a Realtor, is the MLS.

I imagine that you’ve all heard of the phrase “supply and demand.”  The more potential buyers there are for your home, the higher the price you can ask.  What you need to understand is that the service a Realtor provides to a buyer is usually free.  Because of this, most buyers will use a Realtor to search for and acquire a home.  Can you blame them?  Who wouldn’t hire a professional who offers to work exclusively for them but doesn’t charge a dime?  The bottom line is, the best way to get your house information to most buyers is to get it to their agents first.  Without any question the best way to do this is to place your home on the MLS.  When this is done, you instantly have hundreds of agents working to find that perfect buyer for you.  This increases demand, which increases your pricing power, and helps you sell your home much faster.

My advice to you is to get hire an Idaho Falls real estate agent who stresses the importance of advertising on the MLS and immediately gets your home on it before anything else is done.

Click here to search the Idaho Falls real estate MLS.

It wasn’t cheap to develop and maintain the MLS, so real estate agents began to charge each other membership fees and annual dues.  This money is used to pay the staff and purchase the necessary materials to keep the system up to date.  Over time some of the information held on the MLS was placed on the web as a service to customers.  However, it’s important to note that not every property for sale can be seen this way.  You should also know that if you choose to use this service the information that you see is not complete and may not be current.
     
Click here to search the MLS for Idaho Falls homes for sale.

(You) Should I have a home inspection done on an older home? 

(Me) Yes! 

(You) Should I have a home inspection done on my new house? 

(Me) Yes! 

(Yes) Should I have a home inspection done even when the seller is selling the home “as is”? 

(Me) Yes! 

(You) Should I have a home inspection if I’m selling a house? 

(Me) Yes! 

(You) Should I… 

(Me) Yes! 

(Yes) Why? 

(Me) Great question let me explain…

A good inspection will cover every square inch of the home from the basement or crawl space to the attic and chimney.  It will include the plumbing, heating, electrical, windows, foundation, slope of the yard, roof, chimney, and anything else that makes the house a house.  It will protect you from getting into a house that has unexpected problems.  According to the Federal Trade Commission almost half of the preowned homes that are purchased have repairs that need to be made in the first six months.  Some of those repairs could cost tens of thousands of dollars.  At least with a good home inspection you’ll walk into the deal with your eyes wide open.

Let me take just a minute and address a few of the not so obvious scenarios and why you should still have an inspection in each case.

The first one is if the seller is selling the home “as is.”  They might as well be advertising to you that they know the house has problems but they won’t do anything about it.  I’ve had buyers suggest that it’s not worth spending hundreds of dollars on an inspection when the seller won’t do any repairs or give any compensation for the problems.  Although this might be true, don’t you want to know what those problems are before you buy the house?  Would it make a difference if the house needed a new roof and major foundation repair?

I recently helped a client purchase a house that was being advertised “as is.”  It was obvious as we walked through the home that it had some major problems, but we weren’t sure how bad they were.  In our offer, we made the sell contingent on the buyer approving the home inspection.  The inspection was done and the potential problems were identified.  We knew the seller was not going to work with us on fixing those problems, but the buyer was grateful that he knew exactly what he was getting into.  If there were bigger problems that we were unaware of, we had the option of walking away while retaining the earnest money.

The next scenario is when you’re the seller of a house that you have just listed.  When people think of getting a home inspection, they assume that it’s the buyer’s responsibility.  So, why would a seller want to pay for one?

There are several benefits to a seller getting a home inspection done.  The most important reason is that it aids in the marketing of the house.  If a buyer knows that as inspection has already been done and any problems have been addressed, they’re a lot less likely to look for reasons to make a low offer.  The other benefit is that the seller has more time and less pressure to deal with problems.

Several weeks ago I listed a home and convinced the seller to have an inspection done before we marketed the house.  It turned out that the inspection discovered several issues that would have been a problem to almost any buyer.  We were able to get the items fixed before any offers were made.  Once we had a purchase and sale agreement in place, the seller didn’t have to worry about addressing any major issues and could focus on getting moved into their new place.  It turned out that the entire process was a lot smoother than it would have been if the seller would have waited for the buyer to get the inspection.

So you’ve decided now that it’s important to get a home inspection.  Who’s the right person for the job?  In my opinion, this should not be done by uncle Bob, the part time builder who once constructed a chicken coop with all the bells and whistles.  It should be done by a professional who knows what to look for and will spend hours making sure he/she is thorough.

In Idaho you don’t need to fulfill any certification requirements to be a home inspector.  Anyone can claim to be one, which makes finding the “best” difficult.  I have several suggestions when shopping for an inspector.

1. Ask your realtor – Real estate agents deal with inspectors all of the time and typically know who should be hired to do the job.
2. Ask for referrals – Past customers can inform you of their thoughts.
3. Find out if the inspector has errors and omissions insurance – Some of them won’t.
4. Ask how much experience the inspector has – They gain a lot of knowledge by doing the job and getting their hands dirty.

When considering all of these things, the bottom line is, a home inspection is a very small price to pay to get peace of mind and protection.

Right now over 80% of buyers begin their search online.  When they do this, the first thing that they see is a picture of the front of your house.  Typically they will use it to make a decision of whether or not they want to see the inside.  Some buyers might even go so far as to drive by.  However, if your house has poor curb appeal, they’ll rarely want to walk through it.  In my experience as a realtor, buyers will usually only request to view roughly 10% of the active listings in their price range.  If you want top dollar for your home, it’s critical that you get as many of them through your front door as possible.

Here are some suggestions to improve the way your house looks to potential buyers.

Fix the Lawn

Before you do anything else you need to repair any damage to your lawn.  Spread grass seed where it’s needed, fertilize immediately, and water as much as you have to in order to green things up.  If you need help with any of this, I recommend you visit a local lawn and garden store and ask specific questions.  Keep in mind that it will take some time for things to improve, so plan ahead and start before your house goes on the market.

You might hate it, but you need to break out the lawn mower and keep the grass looking good the entire time your house is on the market.  Don’t forget to also trim and edge weekly.  If this seems like more than you’re willing to do, hire a lawn care company to temporarily take care of it for you.  It will be well worth the expense when your offer comes in.

Trim the Trees and Shrubs

Trim all hedges and trees so they look neat and clean.  Buyers want to be able to see the house beyond the jungle.  With larger trees, you may have to hire a professional to take care of them for you.

Get Rid of the Weeds and Plant Flowers

Your flower beds should be free of weeds and have plenty of color.  Flowers have a way of brightening up even the gloomiest yard.  You don’t need to go crazy, but you should pick up a couple flats of annuals.  They’re cheaper than you think, and relatively easy to plant.

Get Rid of the Clutter

The front of your house is not the best place to pile your unwanted clutter.  Take everything you don’t want to the dump.  In Idaho Falls it’s free, so you really don’t have a good excuse to not take care of the garbage.

You might enjoy the old couch on the front porch, but buyers won’t look at it with the same adoration.  It doesn’t matter whether you decide to store it, dump it, or sell it, just put it where it can’t be seen.

If you have children, make sure you keep the bikes and toys picked up rather than scattered around the yard.

Paint the House and Trim

Forget about “touching it up.”  After a few years of exposure to the weather and sun, the paint will have slightly faded.  If you try to paint the areas that have discolored, flaked, or peeled, you’ll make the house look blotchy.  Bite the bullet and do it right.  It will make the front of your home look incredible, and do wonders for the curb appeal.

When you pick a color, do it very carefully.  You’ll want it to blend in well with the other houses in the neighborhood plus fit in with current trends.  If you’re not sure what color to pick, don’t hesitate to get advice from an expert.  Also, check with your homeowners’ association and CC&Rs for any color restrictions.

Remember that first impressions count and you may only get one.  You don’t want the “perfect buyer” to never know your home’s potential because of bad curb appeal.  Follow these suggestions and you’ll greatly increase your showings, which could lead to a higher offer.

For more tips to improve your homes curb appeal, check out our free reports. Click here for our Idaho Falls real estate homeowner’s library.

Whenever you get an offer that has a contingency clause it means that the deal is contingent on some act happening that is described in the clause.  Sometimes it’s as simple as the buyer checking a box in the purchase and sales agreement and other times it’s written in with the other terms and conditions.  Either way you need to make sure you understand the contingency before you accept or reject the offer.

The bottom line with a contingency clause is they are ways for buyers to get out of the deal.  When a buyer insists on having a contingency clause they are telling you they will buy IF…  That “if” could make all the difference in whether the deal will happen or fall apart.

Here are some of the most common contingencies that a seller may have presented to them.

1. Sale Contingency – The offer is contingent on the buyers selling their home first.  This is perhaps the weakest contingency because it relies on the sell of another house that may be overpriced, in a slow market, or not getting a lot of interest.  Many people would only consider accepting an offer contingent on a home selling if the buyers already have a pending transaction in place.
2. Financing Contingency – The sale is contingent on the buyer being able to get a loan.  If they’ve already been into the lender and are approved, you may not have a lot to worry about.  If all they have is a “pre-qualified letter” the buyer could still be a long ways away from getting an actual loan.
3. Inspection Contingency – The buyer will purchase the home only if they approve the inspection.  Usually there are very specific dates and deadlines that must be met.  You will have a very difficult time selling a home without this contingency.

Any time you get an offer with a contingency clause you should consult your lawyer and have it explained to you.  You should only act if you fully understand the potential consequences.

When my wife and I first decided to move to Idaho Falls many years ago, I was just like a few of you. I looked at what many of the real estate agents were charging, and I didn’t understand what I was really getting for the money. I decided that the best route for me was to save some money by listing my house with a discount broker. I bought into the idea that I was getting everything I needed, and I was saving thousands of dollars at the same time. Although I wasn’t a realtor then, I did have a real estate background and was confident that I was getting a great deal.

It didn’t take long before the romance wore off. I soon realized that my agent didn’t care about my house or me. He had me under a six-month contract with very few promises. Looking back, I’m convinced now that he felt his job was done once he listed my home. He was going to wait for me to sell it, and then collect a check for the work I did.

Six months went by without us ever getting an offer. The one interested buyer we had disappeared when we told their agent we weren’t offering him a full commission. To be honest, the entire six months was a nightmare that I’m glad I’ll never have to repeat. Once the dust settled and we were done with our contract, I realized I had just paid interest on my mortgage six more times. The total was more than what I would have paid if I had hired a realtor from a full-service brokerage right from the start.

The problem now, I still had my house to sell. I was certain that I couldn’t afford to try and save again, so I bit the bullet and found someone who I knew would get the job done. The sign went up in the yard, and the house was sold within three weeks. To top it off, we got about eight percent more for our house than any other comparable in our neighborhood. However, I still cringe at the thought of how much money I lost by using that discount broker.

Now that I’m a realtor I have a better understanding of how some of the discount brokers work. Do they save some people money? Absolutely! Do they cost some people money? Absolutely! Is it a mistake to list your home with one? No, as long as you are fully aware of what you’re getting, and can live with the results. In the next few paragraphs I’m going to tell you what no one else will.

Discount brokers generally make money by listing numerous homes and scrimping on the advertising, marketing, and personal service. The little advertising they use is designed to generate phone calls from potential buyers who are looking for a home. The important thing for you to understand is, if the discount broker can show and sell a home listed by a full-service broker, they will receive a higher commission than if they sell yours. That’s right, they may have little to no motivation to try and get your house sold. Although it’s extremely unethical, and potentially illegal to steer people away from your house, not every agent in this business is completely honest. They may think it’s in their best interest financially to hang on to your listing as long as possible in order to produce multiple buyers for other homes.

In addition, why would a buyer’s agent want to show your home to a potential buyer? Quite often the way a discount broker is able to charge less is by offering either no commission, or a discounted commission, to the buyers agent. Again, it’s extremely unethical, and potentially illegal, but a buyer’s agent may feel it’s better for them if they push a little harder to sell a different home listed by a full-service broker rather than yours.

So, the discounted listing agent you hired might not be working for you, and the buyer’s agents might not want to show your house. Who then is working for you? Are you really saving money?

The first few weeks the home was on the market quite a few people had come through the door; but the Idaho Falls real estate market had already begun to slump. Interest rates were slowly rising, and there were more Idaho Falls homes for sale than buyers. Each week less and less people were showing interest in the house. Before they knew it, they were scheduled to close on their new home, but didn’t have a buyer lined up on their existing home, despite reducing its price twice. They were now stuck with two mortgages and unsure of how to make ends meet. What should have been exciting and fun turned into one of the most stressful times in their lives.

This same story is being played again and again all over the country to numerous people. According to the National Association of Realtors, there are close to one million more sellers this year than last, while the number of houses sold has fallen by 10.7% in November compared to the previous year.

Things might not be looking as good as they once were for the sellers, but don’t worry, this might be one of the best times to be a buyer. So, how do you keep from getting stuck with two mortgages? Here are some suggestions.

Sell first, find it later
It’s going to be extremely hard to resist the temptation of jumping full steam ahead into the buyers’ market. If you happen to find that perfect house, you might be setting yourself up for disappointment later if you have a hard time selling your home. Chances are, you’ll be much better off financially by fighting the urge to buy until you have a solid offer in hand for your own home. Even if that means you have to spend a little time searching from a hotel. Keep in mind, the market is good for buyers, and you’ll have plenty of houses to look at in order to find that perfect one for you.

Price like a buyer
If you don’t have time on your side, or the patience to keep from shopping for another house, you’ll need to be smarter. One of the biggest mistakes that some sellers make is to price their home too high. The truth is, it doesn’t matter how much you think your house is worth, or even how much you’d like to get out of it. If a buyer thinks it’s too expensive, they’ll look elsewhere. The problem is not that the house won’t sell, but that it won’t sell at that price.

In order to price your house right, you need to know what your competition is. Most buyers who look at your home are also going to walk through numerous others in the same price range. Get to know these homes. If your house doesn’t stand apart from them, you won’t get much interest. As a seller, you’ve grown attached to your home. This makes it extremely hard for you to take a step back and honestly evaluate your house from the buyer’s point of view, but it has to be done. Try to articulate exactly what it is about your home that will make someone want it over any other. If you can’t convincingly do it, lower your asking price.

Fix it up
We’ve all seen the shows on TV where someone spends a few dollars in remodeling, and then sell their house the next day for $30,000 over their asking price. It may happen, but it’s not likely. Does that mean you shouldn’t fix up your house before selling it? The answer is absolutely not. Upgrades may not allow you to get more money, but they will help you get the house sold by attracting buyers. When it comes to repairs, don’t leave anything for the buyer to do, or you’re asking for a lower offer; or worse yet, no offer.

Give incentives
Another thing you can do to spur interest in your house is to offer an incentive. You can be as creative as you’d like. Some sellers have been known to offer anything from money for Christmas toys, big screen TV’s, or gift certificates from furniture stores. The important thing to remember is the incentive must be desirable to the buyer, and substantial enough that they’ll want it. Once you figure out what it will cost you to not sell your house for six more months, the incentive will look like a bargain.

Mark it down
One of the fastest things you can do to get your house sold is to lower your asking price. Most sellers have already counted the money they will get from a sale and have a hard time accepting anything less. In their mind the house is worth what they’re asking, and when they lower that price they feel they’re “giving it away.” The reality is, it might be cheaper to lower the price than pay the mortgage, taxes, and upkeep while the house sits on the market. If you decide to lower your price, it must be substantial enough to make a difference. Don’t chase after a falling market by lowering the price a little bit at a time. You need to beat the market down. Lower your price enough that you’re competing against a whole new class of houses. That may mean a reduction of at least 10% for a home that’s not getting any attention.

If you follow these guidelines I promise you that your real estate experience should be a positive one; and more importantly, you should walk away with more money in your bank account.

Click here for more useful tips on getting your Idaho Falls real estate sold.