Four Things Real Estate Agents Want Sellers To Know
- Pricing really is critical. It is a proven statistic that pricing your home too high typically ends up garnering a lower net than pricing slightly under market, driving a bidding war. Listen to your real estate agent when they advise you on pricing. They aren't pulling that figure out of thin air. This is what we frequently hear, "I'll price it a little high and see if I get any bites. If not, we can always drop the price." While this approach seems harmless enough, it can mean the difference between selling your home in 30 days and selling your home in 6 months. The best window to sell your home is within the first 30 days of going on the market. It's a fresh new listing during that time which, by default, tends to drive traffic to your listing. If it's priced too far over market value it can't compete with the comparable listings. So your home sits on the market until you decide to drop the price. At this point potential buyers are wondering if there's something wrong with your home. 'Why has that home been on the market for so long? Something must be wrong with it.' If you want to sell quick, price it just under market value. Notice we said 'just under'. Too far under market value and it raises flags to potential buyers. Once again, they might assume there is something wrong with your home.
- Curb appeal really does matter. Think of curb appeal in terms of first impressions. When you meet someone you form an initial opinion of them in the first 30 seconds based solely on how they present themselves. The same holds true for your home. We're not saying you need to drop thousands of dollars on landscaping, but you do want your home to have the appearance of being well-loved and cared for. Pull weeds, paint your front door, replace broken windows, mow and trim your lawn/bushes...
- Pictures are worth more than a thousand words. 97% of home buyers begin their search online. Your listing photos will be the deciding factor for whether or not those buyers want to see your home in person. When your realtor shows up at your home to take photos your home should look tidy and welcoming. For the biggest appeal, those photos should capture clean bathrooms, made beds, de-cluttered counters, sparkling windows, and organized garages.
- Closing takes time. Most home buyers are not cash buyers. Translation: they have to get a loan to purchase your home. In the rare case that a buyer doesn't have to get a loan, your closing will be much quicker (think 2 to 3 weeks). In most traditional transactions, however, expect 45 to 60 days (in our local market). It's simply the nature of mortgage approval processes and real estate transactions. There are many steps which need to take place between your offer acceptance and your closing date.