12 Step Guide to Getting Your Home SOLD!
Welcome back, Savvy Home Sellers!
Today we begin Step 4 of my 12 Step Guide to Getting Your Home SOLD! Last time, in Step 3, we discussed uncontrollable factors that may decrease the value of your home. You learned about neighbor and neighborhood issues that affect home value, as well as location troubles.
Step 4: Understanding Today's Home Buyer
Today, we will discuss the home buyer. We will look at why it is important to understand how home buyers think and act, how home buyers search for homes for sale and what information is most valuable to them, and how to make your home for sale more attractive to home buyers.
Why You Should Understand Home Buyers
There are many reasons a home seller should strive to understand home buyers. First and foremost, buyers are who a home seller is trying to attract. It is important to make your home for sale as appealing to home buyers as possible. Also, as we discussed in Step 2, the buyer determines the value of your home. It is important to understand how the home buyer shops for a home for sale so that you can make sure your home will be in front of buyer eyes. Lastly, it is important to understand home buyers because after you sell your home, there is a good chance you will be going through the home buying process yourself.
How Buyers Search for Homes for Sale
Today, buyers have numerous resources to find and compare homes for sale. It is important not only to understand where buyers get their information, but also what information buyers value the most. According to data published by the National Association of REALTORS, 9 out of 10 home buyers use the Internet to search for homes for sale. Among website features, buyers ranked photos and detailed property information to be the most valuable things a website can offer about homes for sale. This means that your listing agent's marketing plan to get your home SOLD should include posting your home on multiple websites along with several quality photographs of the home and detailed information about it.
According to the National Association of REALTORS, buyers are predominantly using a Realtor to help them through buying a home, 88% of buyers in fact. This means that it is important to have your home in front of not only the eyes of home buyers, but also the the eyes of Realtors. Your listing agent should market your home to other Realtors so that they can show the home to their buyers.
It is important to understand how home buyers begin to search for homes. In general, a buyer begins tosearch for a home for sale based on price. When they first start the search, home buyers are pre-qualified for a mortgage by a home loan lender. By getting pre-qualified, buyers now know how much home they will be able to purchase. If your home is overpriced, the buyer will likely not consider it. Find out how much your home is worth.
How to Make Your Home Attractive to Buyers
Buyers will purchase homes that have the most value for the price. Therefore, it is important to ensure that your home has both value to offer and a competitive price. To add value to your home, consider some updates or improvements; your Realtor can help you understand which ones will add the most value to your home. When it comes to price, remember what we discussed in Step 2--value is determined by the buyer. Price your home for sale so that it reflects the current housing market, not what you think your home should sell for.
Understanding the home buyer is vital to getting your home from "For Sale" to "SOLD!" When selling your home, keep in mind the things that buyers value, put your home where buyers and buyers' agents will see it, and show that your home is a value for the price.
This time, in Step 4 of my 12 Step Guide to Getting Your Home SOLD, we talked about understanding today's home buyer. Next time, in Step 5, you will learn all about the costs and fees associated with selling your home. From updates and repairs to closing costs, selling your home involves several costs that you should be prepared for. You'll want to keep an eye out for it!
Until Next Time,
Ana Spradling, Your Realtor with Real Results
When you sell your home with me, I understand how to make it appealing to home buyers. I use Internet marketing and traditional marketing techniques to market your home to both buyers and Realtors. I also offer services like photography and staging to make your home look its best to buyers. Learn more about my services to home sellers and request a free in-home marketing presentation, contact me at (913) 954-7123 or at ASpradling@ReeceAndNichols.com