Your REALTOR arrives at your home with copious amounts of data to determine the best way to price it for the market. You know from your research that he or she is experienced and knows how to sell homes in your area.
To determine the price
She/he presents the following:
- Comparable Sales or “Comps.” These are listings of homes similar to yours that have sold over the past few months.
- Expired listings. Samples of properties that were on the market and did not sell, usually due to poor pricing.
- Data from the MLS showing how many homes are currently on the market, the number of days they have taken to go under agreement and other pertinent statistics are in your area.
- Competition. Properties in your neighborhood that are currently on the market and will be competing with your home.
Your response – “Let’s try it a higher price since someone may just go for it. If it does not work, we can lower the price in a couple of weeks.”
Don’t do it! The best chance you have of selling your home is to price it correctly from day one.
Additionally, your REALTOR® has done a thorough evaluation of items that need to be taken care of in your home. Perhaps there are some repairs that should be made – problems that will be glaring or even frightening to a potential buyer.
You decide that those repairs can be made at a later time if the house does not sell right away.
Do not put off necessary repairs! You will not have a second chance with buyers who were turned off by seeing your home in poor condition.
Your REALTOR® has further suggested that a bit of staging and some light redecorating (painting a neutral color over the bright red wall in the kitchen) will be crucial in showing your home in the best light.
You decide to wait before doing this to see whether or not it will make any difference.
Important notice – Buyers cannot see past bold decorating!
Remember, the first week that your home is on the market is the most crucial. This is when agents in the area will be touring it for their potential clients and it will get the most momentum. Think of it as opening night. If the critics pan it, your chances of a repeat performance will dwindle.
Home selling is not an easy task. That is why you have hired a professional to help you to get it done. The best thing you can do to increase your chances of selling your home quickly is to listen to the expert that you have carefully hired and –
Dudley Do Right!