How To Help Sell Your House
Over my time in the real estate business, I have noticed certain factors which seem
to be common to most successful sales. It still amazes me how even the most
obvious and critical factors - such as ease of accessibility for showings, for example - are often
not implemented. This can cause an otherwise saleable property not to sell. So I thought
I would list for you the things that you should do to optimize the possibility of a sale.
- Your home should be clean! I can't emphasize enough he importance of having a clean and tidy home. Purchasers will virtually always select a clean home over one that is dirty and messy. I suggest that rooms be repainted in light, neutral shades, that the carpets be steam cleaned, and that all excessive clutter and stored items be removed from the house. Hire a cleaner if you don't have the time to keep the house clean - it could make a thousand dollars difference in the sale price of your home.
- Make your home accessible for showing. I find that the absolute best way to make your home accessible to Realtors and their potential buyers is to put a "lockbox" (a combination lock secured to your door with the key to the house inside) on the door. That way if you are out and can't be reached by phone, the home may be shown anyway. This means that you won't lose a sale to an inferior home that is more accessible.
The next best solution is to have a key to your home available in the listing office - provided that the real estate office is only a few minutes away from your home. Also make sure that you open all the drapes and leave all the lights on in the house for showings - this makes the house feel more bright, open and appealing.
- Put a sign on the lawn. I have found that there are two or three things that help to sell a home better than anything else. And they may not be what you would expect. A real estate sign on the lawn is extremely important because most potential buyers drive an area before they buy.
- Obtain the best MLS coverage. Find out what MLS board or Boards (some areas are serviced by more than one MLS) cover your area and make sure that you maximize your MLS coverage.
- Make your terms flexible. Right now, we are still in a buyer's market. For this reason, it is still valuable to be as flexible as possible with terms. For example, if you have a broad time-frame of closing dates that you would accept, then your home becomes more saleable. Let's say that I list my house and I tell the Realtor that I must have a closing date of April 2 - this will considerably limit the number of potential purchasers for my home.
- List with an active local Realtor. Chances are that an out of area Realtor will not be able to service your listings as well as a local one. A local Realtor will also know the local market better. An active local Realtor, and the key word here is ACTIVE, will also be able to network with both the people in the area (potential customers) as well as other agents coming into the area searching for a particular property.
- Price it right! It is a key to the success of your sale to get the right price on the property - preferably right off the bat. There are arguments like: " I can always reduce it. But it's harder to raise the price." But I have always found that pricing a home right at the beginning is the best way to go. It often results in the best price for the property as well.
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How Long Does It Take To Market A Property?
According to market conditions, the length of time it takes to market a house will vary. While some properties sell in just a few days, other may require several months. There are six factors that influence the time it takes to sell a property.
1. Competition
Every Buyer makes his decision about which home to buy, and how much it is worth compared to his other choices at the time of purchase. The supply of other homes the Buyer will compare with your home is constantly changing each week and month. The current COMPETITION always affects the buyer's opinion of your property and what he will think it is worth. So the question is, what will the buyer's other choices be at the time they are shown your property?
2. Financing
If the financing should cost too much, or if the seller requires more downpayment than most people have, then the financing may delay or prevent the sale.
3. Price
If the property has not sold after a reasonable length of time but other similar properties have sold, then the price may need to be reduced. If this is true and the price is not reduced, a sale may be delayed or prevented.
4. Property
If the property should show poorly or have major defects which are not corrected, a sale may not take place until the defects are corrected or until the price has been adjusted to compensate for them.
5. Timing
Timing is the condition of the real estate market at the time of the sale. Supply and demand are the factors influencing whether it is a Seller's or a Buyer's market. Neither the seller nor RE/MAX can change the condition of the market at the time the property is for sale. It must be accepted for what it is.
6. Marketing
At RE/MAX, marketing techniques are constantly being tested and updated for best results. But even expert marketing has it's limitations because marketing cannot overcome any of the first five factors if they are out of balance and remain uncorrected. We will supply you with a constant flow of updated information which will help you determine the marketability of your property.
How quickly your property sells will depend upon
how you use the information we provide.
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