If you read our post on a buyers & sellers market, you might think now is the a perfect time to sell your home. Right? That is why they call it a sellers market! If you want to learn how to sell your home faster, you need to be in contact with your real estate agent and know how to ask the right questions.
Maybe this was a couple months ago and you still have your home on the market. Even though for months all you heard was how much this summer will be a sellers market.
Let’s take a step back. The good news is when you are willing to take time to solve a problem (the problem is my house is just sitting on the market) you can usually find the root of that problem and solve it.
Potential Problem – Over Market Confidence
You have heard that in a sellers market, a home will sell no matter what condition it is in. Which is entirely possible. You would be amazed of the homes I see sell in Los Angeles. However those homes are often being purchased for a quick flip.The condition does not matter in that situation.
Advice: Always prepare your house to list the same exact way, no matter what the market is telling you. Find some resources online for staging tips and ask your real estate agent the options to consider if you are wanting to learn good practices on how to sell your home faster.
Potential Problem – Price
Price is probably the single most important part of listing your home. You might think that a sellers market means you can squeeze buyers for the most money, but this can be dangerous. Real estate is an amazing industry because every market is different across the country. This means that the price of your home needs to fit the local market. The wrong price is going to attract less offers and buyers.
Advice: Sit down with your real estate agent and make sure you both have talked about the price. It is very important your agent looks at the market data, comparable homes sold, and great understanding of the local market. It is important to not only rely on a online tool like the “Zestimate”.
Potential Problem – Basic Upgrades
Small changes can go a long way with potential home buyers. You don’t have to do that $30,000 kitchen renovation to sell your home. Often times it is the small changes that make a big impact. Door handles, ceiling fans, fixtures, all are small changes that go a long way.
Advice: Find quality real estate blogs that talk about DIY or easy upgrades that maximize your return on investment.
Potential Problem – The Title
The title of your home is the documents showing the ownership of the house. Without going into technical details, this can spook buyers who just want a clean, no-hassle process when getting a home.
Advice: If you think your home has a title issue, call us today and we can set you up with a title company that can run a report.
Potential Problem – Listing Photos
Real estate photography is not dead and is extremely important even as we move closer and closer to video becoming a more affordable standard. According to IMOTO,
For example, the infographic includes data gathered by IMOTO photo in a 2014 research study on the impact of professional photography. The report, titled New Study Finds Listings with Professional Photography Sell Faster and at Higher Prices, disclosed the following three statistics about professional real estate photography. Professional photos are statistically proven to help agents: Sell listings 50% fasterSell listings 39% closer to list priceGenerate 118% more online views
Potential Problem – HVAC’s and Appliances
It is harder to get full asking price if appliances / HVAC’s are not updated to current standards. Either consider replacing old appliances or be prepared to get offers below to compensate. The HVAC and other systems will usually only come up in the home inspection.
Advice: You will want to address these things or consider accepting an offer that will reflect replacing them.
In conclusion. what has been your experience in a sellers market? If you are having a hard time selling your home, feel free to let us know what your situation is.