SELLING

But what if you happen to be selling? Preparing it for sale is pretty
straightforward. "It's like going out on a date. "First impressions are absolutely
critical. If it doesn't show well, it won't capture people's imagination." This
means taking a variety of basic steps--e.g., making sure the exterior is in good
repair, the garage is neat and tidy, fixing leaky taps and cracked window
panes. It may even be worth steam-cleaning broadloom or painting the
principal rooms. "You may spend $1,000 and hopefully get it back, but if you
didn't do it, would you lose more than $1,000? That's the point. Most experts
advise against major renovations, because your taste may not suit a prospective
purchaser.

More difficult is deciding whether to sell the house yourself or pay a realtor to
do it. At first blush, the prospect of saving thousands of dollars in sales
commissions looks attractive. Except for one thing: "You have to be able to
do everything the agent does". "That includes marketing, open houses, and the
negotiating. Can you handle all that?"

Again, a key determinant is the state of the market. If it's strong, you may
rightly conclude that you can do it yourself. In a slow market, however,
buyers will take advantage of the fact that you are selling privately and push
even harder.