How to Sell a Home in Today’s Market
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How to Sell a Home in Today’s Market
Our current market is a seller’s market, giving the seller an advantage because there are more buyers looking for homes, than there are homes listed on the market. While this can be a great advantage for sellers, there are steps that can be taken to ensure you get the best price for your home.
Step One: Price Your Home Correctly.
One of the biggest mistake sellers make is pricing the home too high. As a seller you want to get the most for your home. Yet if you price it above what the market range, then potential buyers may not view the home, accumulating long DOM (days on market) and potentially invite low ball offers.
When priced correctly (or on the low side of market value), buyers clamor to buy your home. This encourages multiple offers, which often results in the home selling for above the asking price. At Realtyweb.com we recommend looking at comparable sales as well as getting an appraisal. This provides you with an accurate assessment of what your home will sell for and provides evidence as to its value, should a buyer come in with a lower offer.
Pricing your home correctly can result in a home that sells in a matter of days rather than weeks or months. If the home is priced too high you may find your home sitting on the market too long and the need to lower the price. When this happens buyers are less interested in the home and speculate on what is wrong with the home or why hasn’t it sold fast like all other ones.
Step Two: Prepare your home for sale.
Buyers are looking for homes in move in ready condition. It is not necessary to spend thousands updating your home, but presenting your home in its best condition will offer the best price. When buyers see a list of things that must be fixed before they move in, or shortly thereafter, they are not willing to pay top dollar.
Fix what is broken, give the home a professional level cleaning, and de-clutter the home. These three things will allow you to present your home in its best light.
Fix what’s broken. This might include a door that is sticking or a leaky faucet. A coat of paint can give a room a fresh look. If you have the resources, upgrading the kitchen and bathroom provides the highest payoffs. This could be freshening up the room with new knobs or updating outdated fixtures, countertops or cabinets. Adding flowers or fresh tanbark to the front garden. Remember, a positive first impression will put the buyers at a positive state of mind when they pull up to the house.
Professional level cleaning. This includes the inside and outside of the home. Curb appeal is an important part of selling the home and freshly planted flowers and trimmed landscaping makes the home look well cared for. Other often forgotten area neutralizing the smell of the home and ensuring there are not pet odors or other smells that detract from the way the home shows.
De-clutter. Start packing and while you are doing so get rid of things you have not used in a while. So much is accumulated over time that are not useful. This takes up space making the home look smaller than it is. By reducing the clutter (and even furniture) from the home, it will make the home look more spacious. The buyer wants to see if the home will fit all their furniture and have adequate storage. Stuffed closets and cabinets give the impression that there is not enough room. As a rule of thumb, allow 1-3 items on any given counter/table top and or any walls. 1-3 items, no more.
Step Three: Hire the best real estate agent.
The real estate agent is the person or team that will promote your property and let both buyers and buyer real estate agents know the home is available for sale. Having an expert who truly knows the area will provide a faster, smoother sale, than working with someone new to the industry or unfamiliar with your market.
Real estate is a very regional industry. What works in one area may not find success in another. An experienced agent will be able to walk you through each step of the sales process and get you the best price in the shortest amount of time. Realtyweb.com has over 26 years of experience working with clients and has mastered the sales process, providing clients with exceptional services while still offering savings in the form of low commissions. For more information log on to www.realtyweb.com.