Having your own real estate business carries with it a lot of responsibility. If you are a rental or selling agent, you know that every person who steps into your office is a potential buyer and that you have to be at the top of your game all the time and convince the buyer that the property you are trying to sell him or her is the best one in the neighborhood, or the property is so damaged that it will take an awful lot of money to restore. Once you have set your mind on a particular property it is time to meet with the seller and discuss options.
First, however, you should sit down with your agent and discuss how much money you need. Do you need real estate financing? Some of the biggest deals required no money up front except that the buyer has access to cash or to credit. Real estate agents know how to wheel and deal and some of them make a quick buck by buying a cheap house in an unsavory area, keep it for two months, do no renovations and sell it as is for a higher price. Another option is to buy a property, make some renovations and flip it before the money is due. The danger here is that if you did not manage to sell the house by the due date, you are in real trouble.
Tips on how to prepare for an open house
· Start with the backyard and remove all the rubble at the side of the house. Clean off the porch and throw away old litter. Stand on the other side of the street and see how the house looks. This will give a buyer its first look at the property. If it is unsightly the buyer might be put off.
· Besides cleaning the house and washing the windows, make sure that you have a clean kitchen with no crumbs and dirty plates and cutlery on the counter tops.
· Do a killer brochure with pictures of the different areas of the house with all rates and taxes, selling price and relative information in it. Give it to everyone who comes to the open house.
· If the house seems dark, draw back the curtains or roll up the blinds and do a bit of staging with mirrors and flowers to give the house a fresh look.
· If the bathroom is the bad feature of the house, give the walls a quick paint with a lighter color, hang a fern in the window, and put out your nice hand soaps in bowls, and have rolled-up towels in a basket. It is worth to spend money when selling a house and two or three small touch-ups can change the appearance. If you can afford it your bathroom can look brand new if you replace the carpeting with tiles and change all the rusty railings and faucets.
· Bake a cake and set it on the table where the agent will be sitting answering questions of buyers and sellers. The cake is a nice gesture as it creates a good environment and a pleasant smell of home. Conducting real estate business in a pleasant atmosphere makes buying and selling easier.