It's every home seller's dream -- a fast sale.
In today's market, crossing the finish line first, fortunately, isn't just a matter of luck. To win the home-sale race, you have to stay ahead of the pack.
Sellers have been spoiled the last few years. In today's buyer's market it is imperative that sellers go back to basics: Price the house right, market the house competitively, and make sure the house is in move-in condition.
Here are 3 key ways you can get your home on the home sale fast track:
1. Price To Sell.
Don't over-price.
My father was a new home sales person and real estate investor as I grew up. He always used to say that there were only two reasons a house didn't sell: It was either over-priced or underwater.
A nationwide survey of the National Association of Realtors found homes that sell within four weeks of the initial listing sold for close to the original asking price. Homes on the market for up to six months sold for about 7% less than the asking price. Listings that languished for more than six months sold for 15% less than the asking price. Experience shows: a too-high price results in a slow-to-sell home.
In today's market you should continually review the sales price of your home throughout the life of the listing. Take a look at existing inventory and recent sales and adjust accordingly.
Also remember that local neighborhood expertise pays off when determining a sales price.
And be realistic. The more realistic the asking price, the sooner your home will sell. Unrealistic prices, on the other hand, are the major cause of "shopworn" listings, causing potential buyers to wonder if something is wrong with the home beyond price.
2. Results Marketing
Create a marketing plan.
Once you've established a selling price, the next step in your fast-track strategy is a maximum-exposure marketing plan. An effective marketing plan can and should include:
Open Houses
Showing your home to qualified buyers
Just Listed Cards and Doorhangers
Advertising your home where it counts (newspapers, magazines, the internet)
You can also offer buyer incentives.
For example, sellers can help with closing costs, provide a home warranty, give allowances for carpet or draperies, or pay utilities or lawn service for a limited time. Lowering cash barriers to the purchase will significantly enlarge the circle of potential buyers. A good local Realtor can discuss many other ways to market your home so it stands out from the competition.
3. Showplace Condition
Move-in condition.
To tempt a buyer, your home has to be inviting. Today's buyers generally don't have the time to do their own fixing up, so for maximum appeal your home must be in move-in condition.
Focus on curb appeal.
First impressions really do count. Inside your home, recognize that living condition is different from showing condition. Prospective buyers want to see your home in near-perfect condition even if that's not the way they'll keep it once they move in. Make your home a "showplace" and you'll soon be taking a victory lap after a fast sale.
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