Find out the number one reason one house sells faster than the other? Here we go….. as long term real estate broker I believe to have heard all the possible reasons home sellers come up with to justify why their home is still on the market and the house across the street sold within days.
No! it’s not that their real estate agent did a terrible job at marketing the home, though it is within the top 5 and the most common one sellers tend to blame.
1. Features
This would include and not limited to the amount of windows allowing sunlight to enter the home or too many windows providing a lack of privacy, ceiling height, floor plan, laundry room in the garage or too small, old or dated light fixtures, you get the idea.
Many times we forget that these items might affect the sale of the home because as homeowners you become accustomed to seeing them for what they are.
2. Location
I’m not talking about a location within the city or community, location can also be the homes immediate surroundings, for example being too close to power lines or a noisy road, if the home was built on a hill making the driveway too steep and uncomfortable to park cars, having neighbors working on cars or decided to paint their house purple.
The point is that the overall placement of a home makes a big difference. Keep this in mind because at times this is not something you can change to make more attractive.
3. Real Estate Agent
The agent, the reason I myself being a real estate broker agree that agents share this list is due to the lack of confidence to tell sellers what they need to hear and not what they want to hear in order to obtain the listing.
It takes a professional with knowledge and experience to stand up to a seller and share his/her honest opinion and avoid number 4 and 5 on this list.
4. Condition
First impressions go along way and you only get one shot at it! Overall appearance is the second most important item on my list and I can’t stress enough how critical the condition of a home can be a deal breaker.
Now, what do I mean by overall condition. The general maintenance of the structure, cleanness, organized/uncluttered and even the smell of home are to keep in mind.
When I am hired to list a home for sale, one of my responsibilities and obligations is to advise the seller how to stage the home to make it look and feel more appealing to the general buyer.
Why do you think new home builders are so successful on selling homes that are not built yet?
Having their models professional decorated and staged creates a sense of what the buyers home will look like. You can do the same with the furniture you already have and removing items and furniture that do not complement the space.
Making minor repairs and a new coat of paint in economic way of sprucing up the home. Before moving onto number five on the list, let me share this idea.
Imagine two homes for sale located side by side, same floor plan, size and features now the clean and staged home is priced $15,000 higher than the one that needs painting, is cluttered and has a foul smell, which one do you honestly think will sell faster?
Buyers usually want or need to move in immediately after closing and do. To have the time or extra money to make all those changes or simply can’t see past the cosmetics. Buyers will pay the extra $15,000 for convenience.
and finally…
5. How Much?
I’m sure you had already guessed it, Price! Pricing the the home correctly is the main reason a home can sell faster than others on the market in combination with number 2 on the list.
If in need of seriously selling, I recommend pricing the home at a fair market price that you feel comfortable with and staying firmly at that price instead of pricing it $10k to $30K higher with the traditional idea of negotiations. Here is why:
- Stick to your price! If buyers are looking at your home they know it’s priced correctly, that’s the reason they are there in the first place.
- If you receive a low balled offer, just smile, say thank you but unfortunately this won’t work.
- Pricing the home correctly in the long run will save you time and money.
- If the home doesn’t receive traction or offers within the first 3 weeks, usually it’s downhill from there, the longer the home sits on the market, the harder it will become to sell.
Note: There is a day counter on the Realtors MLS and as days start adding up buyers begin to question; What’s wrong with the house? Why hasn’t`t it sold? or you will start receiving even lower offers.
This is where I combine number one with number three on the list, it is the agents responsibility to firmly suggest the listing price, besides, that’s why you hired him/her in the first place.
I hope you can find some useful ideas for here and apply them if you decide to sell your home.
