With the way the real estate market has changed over the last few years, selling your home quickly will depend on a number of factors. You can't control the market, but you can take the appropriate steps to make sure your home gets the best exposure and that you have covered the basics of selling your home in today's changing market. It may be a challenge, but your odds of a quick sale increase dramatically when you approach it the right way. First, find a professional Realtor, one with experience and a documented history of success.
"Relying on the experience of a real estate agent makes financial sense. A National Association of Realtors survey of recent home buyers and sellers found that the median home price for sellers who use a real estate agent is 16 percent higher than a home sold directly by an owner." (National Association of Realtors at www.realtor.org).
With your realtor's guidance, you should then:
- Look at your home from the buyer's point of view
- Set a realistic price
- Use an aggressive marketer
- Stage and condition the property
Let's take these steps one at a time:
The buyer's point of view -- The sale of your home is a time to step rationally through the process as you work with your Realtor. The best way to do that is to look at your home through the eyes of the buyer. It's true in theater, and it's true in selling a home ? you've got to play to your audience. Granted, that's not so easily done. When you think like a buyer, you begin to see the selling process in a whole new light. Some buyers would just as soon not even ask you how much you want.
They're thinking about how much they are willing to pay. It's of no concern to them what your mortgage balance is, or what you expect in equity. The person who ultimately buys your home will do so because your offer represents the best home, in the best condition, for the right price. Keep in mind that there is no second place in home sales. You either with or you lose. You either sell your home or you don't. There's an enduring adage in home sales: The value of a home is determined by the buyer.
Set a realistic price -- Many sellers fail to sell their homes because they start with an asking price that is too high. Although many factors play into the buying and selling of a home, a given contract always swings one way or another based on price. It can be in good condition. It can be in bad condition. You can even have an award-winning Realtor on your side. The bottom line is still price. When you set a price, ask yourself the following questions:
- How soon do I need to get it sold?
- How well does it show?
- How good is my (or my agent's) marketing plan? If you plan to sell the home yourself, you'll need an aggressive marketing plan. You'll also need time to get the word out. While you're looking at comparable home selling prices, make sure you also study pending sales along with expired and withdrawn listings.
Making note of comparable home prices is essential because it lets you know what your competition is doing. Keep in mind that some of those homes could be overpriced. If that's the case, don't follow suit. To establish a sensible price for your home, sit down with your realtor and analyze not only active listings, but also homes that have been sold recently, pending sales, along with expired and withdrawn listings. Too often, sellers do not exercise due diligence when establishing an appropriate price for their home.
Use an aggressive marketer -- Now more than ever you need expertise of a professional real estate agent to sell your home fast ? an agent with a pro-active and aggressive marketing plan, someone who does:
- Have a proven system for selling real estate
- Advertise in newspapers
- Advertise in magazines
- Advertise on the internet
- Hire a showing company to set up showing appointments
- Employ call capture
- Employ call tracking
- Put together a team of professionals
- Constantly monitor the market
- Keep you constantly updated
- Make ethics and hard work his/her priority
- Have experience
- Have knowledge
Stage and condition -- Staging and conditioning is the most overlooked step in selling a home. Buyers will low-ball or not even consider your home if they feel that the home has not be properly taken care of. Every buyer wants to buy a "cream-puff" (unless they are investors buying with a large discount). You will need to condition and stage your home to sell. Talk to a builder who can put you in touch with professionals who can stage your home properly.
Homes sell fast, and homes sell slowly. Sellers whose homes move quickly are the ones who approach the process rationally and professionally. Make sure you spend time thinking like the buyer, and then establish a price that will attract rather than repel. Working with a professional, set up an aggressive marketing plan. That's essential. Finally, stage and condition your home. Only then can you look forward to a quick, satisfying sale.
Lance Mohr is a full time, full service licensed broker associate with Keller Williams Realty. He has many years of experience helping families buy and sell Tampa Real Estate Please feel free to copy any of his articles as long as you credit the author and retain the link to his website above. Don't forget to add our Tampa Real Estate Blog to your favorites section of your browser. |
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