Realtor's Guide to Buying and Selling Your Home

Whether you are moving on or moving in, Dottie Herman, the president and CEO Douglas Elliman, the fourth-largest real estate company in America, offers some advice to future buyers and sellers on how to get the most out of any location.

What Sellers Need to Know

Curb Appeal

A home's exterior presents a great opportunity to attract potential buyers, but an unkempt lawn not only could possibly devalue the property, it could also deter future buyers. Dottie's advice: "spiff up the outside or expect potential buyers to zoom by."

Invest in a New Coat

A fresh coat of paint can transform any room. Dottie recommends sticking with "neutral colors to make rooms [look] clean and bright."

Invest in a Photographer

A good photographer can help you present your space in the best of light, without any Photoshop tricks.

If you're interested in becoming a pro at spotting real estate "Photoshop fails," check out Curbed National's site.

Dress It Up

With a little investment, staging a home can help future buyers see the potential of any location. Here is the 24-hour transformation that designer Leslie Young and the rest of the Cliff Young Ltd. team were able to accomplish for a suburban home on the market for eight months.

Before Cliff Young Ltd. gave the suburban living room a makeover. (Image Credit: ABC News)

After Cliff Young Ltd. gave the suburban living room a makeover. (Image Credit: Cliff Young Ltd)

Advice for Buyers

See Through the Exterior

You might walk away from your dream house if you don't look past peeling paint and old carpets. Houses that are unkempt tend to sit on the market, so if you feel like that is the property's sole disadvantage, use it as an opportunity to bargain the price down.

Don't Fall in Love Too Fast

Just because the house you are eyeing and everything inside of it looks beautiful doesn't mean you should ignore the basics. Be sure to check all plumbing and roofing.

Watch ABC's "The Lookout" on Wednesdays at 10 p.m. ET.

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