You Can't Change:
But You Can Control:
1. Listing Price
As a home seller, the first three influences are beyond your control. You can’t pick up the property and change its location. You can’t change the general economic conditions or the current real estate trend: it’s either a buyers’ or a sellers’ market. You can’t control when or how many other properties come on the market.
However, the action you take on the other three can help you…
Sell Your Home Faster
Get A Better Price.
MORAL: Pay Attention to the Things You Can Control...
Listing Price: The biggest mistake sellers make is inflating the price of their home. They do so in the false belief that it will result in a higher selling price, ie “if I’m going to come down 20K, I ‘ll get more it I start higher”. Exactly the opposite is true. Properties are naturally sorted by price. The house that offers the most in comparison to others in the same price range, is judged a “good deal” and snapped up. By over-pricing it, the seller just puts the property in competition with homes that offer more. An inflated price virtually guarantees that your home will be shown a lot to help sell competing lisitings that offer more for the money. You’ll get lots of showings at first, but no offers.
Remember ultimately the fair market value of the property is established at the close of escrow by the BUYER.
Condition of Property: Often a few small cosmetic improvements can make a big difference in how favorably buyers react to your home. Many you can do yourself. Your agent should look at your home with an objective eye and have lots of suggestions of where you might make simple, cost-effective improvements. If needed the agent should guide you to get help from professionals. Sometimes a good heavy duty cleaning and removal of excess "stuff" can be enough. Remember: Buyers might not share your decorating style. Try to neutralize and remove items of a personal nature. Most times, less is more.
Choosing the right agent can make an enormous difference in selling your home. Choosing someone just because you know them or they are related to you can be a costly mistake. Not all agents are created equal. Your agent is the vital link to other agents. A good reputation is essential in this business. Good agents work with qualified buyers. Getting offers from qualified buyers is the key to getting good offers. Knowing how to evaluate an offer is the key to getting into an escrow that will close.