When starting the home selling process please take a little time to consider a few of the following items to help your home sell quickly with very little stress to you.
- Understand why you are selling your home. Your motivation to sell is the determining factor for how you will approach the sale of your home. It will affect everything from what you set your asking price at to how much time, money and effort you are willing to invest in order to prepare your home for sale.
If you are just trying the market to see if you can get your price, you run the risk of your home becoming stale on the market and buyers not thinking you are a serious seller. In that case you will feel like all of the offers you are getting are way too low.
- Keep the reasons for selling your home to yourself. By keeping this information personal and private, you will not give the buyer negotiating leverage. If you are asked why you have decided to sell, simply respond that your housing needs have changed.
Sometimes divorce, loss of job, or other economic problems are the reason you must sell. This information is private to you and should not be disclosed to buyers or their brokers.
- Consult with a good listing broker before setting a price. As a seller, you will want to get a selling price as close to the list price as possible. If you start out by pricing too high, you run the risk of not being taken seriously by buyers and having your house sit on the market for a long time. If you price the home too low, you could be costing yourself thousands of dollars.
In a market where there are as many of 5 houses for sale for every buyer that is looking pricing is the key. Too high and you will not get any showings or at least no offers. The way to know you have a good price is to get an offer within the first 2 weeks of marketing the home. If you are too low you will get multiple offers and sell for more than you have it listed for. Don’t be concerned that you have left money on the table. It is very unlikely if the home is put in the Multiple Listing Service because brokers are looking every day for the exact home for a buyer they are working with.
- Do some home shopping for yourself. The best way to learn about your competition is to review a competitive market analysis with a good listing broker. Take note not only of the listing prices, but the prices that other comparable homes are actually selling at.
Understanding the competition is very important. What condition are the homes that are similar to yours? Does yours compete? How are they priced. If the one buyer looks at 5 houses will they choose yours because it is the best deal? When you cannot be the best priced home of the competition, you will need to be in the best condition.