Need to Sell Up North before Buying at Lake Chapala?

November 30, 2013

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Need to Sell Up North before Buying at Lake Chapala?

Most of us had to do it that way.

If you’re ready to do just that let me stick my nose in your business just a little.

I’ve been buying and selling real estate in Texas and Mexico for the last 40 years as a home owner, investor, broker and buyer’s only Realtor.

I sold my home in Texas using the tips I share below. I did it in 10 days. Other nicer homes (but not marketed well) on my road were for sale for less than I asked before I put my home up for sale and they were still for sale for long after I moved to Lake Chapala.

I’ve seen the situation from all sides so I’ve learned a lot over the years.

In this article I just want to focus on what you should do to sell your home.

Step 1: Get a good agent that knows their stuff. This probably is not your brother in law (but it could be).

How can you tell if they know their stuff. Look at their track record. Look at their listings. How are they described? Where are they advertised? Are there videos of some or all of them? Are there great photos of their listings?  Do they have a killer website? 

What’s their marketing plan for YOUR home?

OK, so you’ve done your homework and selected a great agent and he/she seems to know what’s up.

What’s next?

Follow up to be sure your agent is doing their job.

1.You should see what your home looks like online.

No doubt you chose an agent who takes online marketing very seriously. Great, but now you need to play “buyer” and look at all the things the agent is doing for you like he/she promised.

2. Do the photos and video do your home justice?

Look at how your home is represented in the same listings, virtual tours, and property websites that buyers will see.  

You might be thinking the best plan of action is to list your home high, planning because prospective buyers will want to bargain the price down.

This may or may not be true, depending upon the market in your area.

This is where you’ll have to trust your agent’s knowledge of your market. He/she will know the standard negotiation practices in your area.

Remember buyers have to invest time, energy and emotion in making an offer, and they don’t like to do that in cases where the seller’s asking price is way above-market, So, the chances of coming to a meeting of the minds doesn’t seem likely.

Potential buyers before even looking at a given home must feel that the price is within, or could be within, their means after negotiation or they will never even look at your home.

Bottom line is that home buyers don’t think much about market analysis. They just want to find the “one” home that’s right for them.

Well prepared, staged, and marketed homes JUMP out from the others if the price is within range of the potential buyer.

If you happen to hear potential buyers saying negative things
about your home or your agent tells you things the potential buyers don’t like.. this is a good sign that they like it.

Perhaps they can’t stand the wallpaper in the bedroom or whatever or that the carpet is a bit worn in the living area.

The more a potential buyer talks about what needs to be done, the more they are thinking of buying your home. They like it and have already mentally begun the process of what they will do with the home once it’s theirs.

Staging – Extremely important

It’s a fact – Staged homes just sell faster and for more money. Remember when you were dating. You did a bit of staging of yourself. You did your best to look your best so your date would be impressed.

There are pros at this. Ask your agent. If you’re not sure you can do it, perhaps you a have a friend who is good at this sort of thing.

It need not be expensive.

Consider

  • what furniture to get rid of (remove the clutter)
  • which improvements will get you the most bang for your buck with local buyers (I upgraded from window AC to Central Air)
  • and what paint, flooring and other finish materials will appeal to the broadest buyer segment in your area.  

Your agency may have contacts with local handymen, painters, landscapers and others who can help you get your home ready for market at a reasonable cost.

I wish you well in your marketing efforts. I’d like to be of service at Lake Chapala to help you find just the right home, at just the right price, in just the right area for you, Remember, as your Buyer’s Only Realtor my job is to represent only your best interests.

 Tu Amigo, Sid

  • Bear

    Great information, Sid! The pricing strategy, the marketing advice, some real-life preparation examples such as you installing central a/c and dumping the window units brings real value to those considering selling. Hey, this article could be the start of your next book. Think about it.

Email for more information:
Sid@ChapalaClub.com

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