1. Know why you're selling your home. The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. Different goals will dictate different strategies. However, don't reveal your motivation to anyone ,other than your agent, or they may use it against you at the negotiating table. When asked, simply say that your housing needs have changed. 2. Do your homework before setting a price. Settling on an offering price shouldn't be done lightly. Pricing a home too high is dangerous to your equity. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn't compare favourably with others in the price range you've set, you won't be taken seriously by prospects or agents, and its nearly impossible to get them back! 3. Do your homework. (In fact, your agent should do this for you). Find out what homes in your own and similar neighbourhoods have sold for in the past 6-12 months. That's certainly how prospective buyers will assess the worth of your home. 4. Find a good real estate agent to represent your needs. Nearly three-quarters of homeowners claim that they wouldn't use the same realtor who sold their last home. Dissatisfaction boils down to poor communication which results in not enough feedback, lower pricing and strained relations. This is a HUGE Decision! 5. Maximize your home's sales potential. Each year, corporate North America spends billions on product and packaging design. Appearance is critical, and it would be foolish to ignore this when selling your home. You may not be able to change your home's location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor. Clean like you've never cleaned before. Pick up, declutter, scrub, scour and dust. Fix everything, no matter how insignificant it may appear. 6. Make it easy for prospects to get information on your home. You may be surprised to know that some marketing tools that most agents use to sell homes are actually not very effective. Furthermore, the prospects calling for information on your home probably value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent, or an unwanted sales pitch. Make sure the ads your agent places for your home are attached to a 24 hour information source about your property day or night 7 days a week without having to talk to anyone. It's been proven that 3 times as many buyers call for information on your home under this system. 7. Learn about your buyer. In the negotiation process, your objective is to control the pace and set the duration. What is your buyer's motivation? Does s/he need to move quickly? Does s/he have enough money to pay you your asking price? Knowing this information gives you the upper hand in the negotiation because you know how far you can push to get what you want. 8. Make sure the contract is complete. For your part as a seller, make sure you disclose everything. Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers in writing. If the buyer knows about a problem, s/he can't come back with a lawsuit later on. Make sure all terms, costs and responsibilities are spelled out in the contract of sale. 9. Don't move out before you sell. Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten, and simply not appealing. It could even cost you thousands. If you move, you're also telling buyers that you have a new home and are probably highly motivated to sell fast. This, of course, will give them the advantage at the negotiating table. BestLondonHomes.com