Regardless of how much you’ve paid for your house or the renovations you’ve made, price will always be determined by what the market will bear. According to Zillow Analysts, Sellers who price their home at fair market value tend to not only sell faster, but also sell for 2 percent more than their home is worth. If your goal is to sell quickly, the wisest pricing policy is to always price at or just below market value. A REALTOR® with the highest sales in your specific neighborhood will best be able to determine fair market value.
An affordable monthly payment encourages buyers to write offers faster. Help the buyer understand how the home will fit into their monthly budget. Prepare a financial worksheet for potential buyers so they can see at a glance what the taxes will be, average heating/cooling costs, average water bill, etc.
#3 House Condition
In today’s market, competition for buyers is steep, so don’t overlook home repairs, organization and overall cleanliness hoping potential buyers won’t notice. Little problems make them wonder what bigger problems could be lurking. De-clutter, dress up your curb appeal, and have the home professionally cleaned top to bottom to increase the likelihood of a successful sale. Also, the importance of ordering an upfront home inspection can not be understated. By disclosing inspection results to potential buyers upfront, you increase their confidence, as well as, maintain control over the sale of your home, limiting end of sale price re-negotiations. Studies show getting a home inspection prior to listing your home can save you up to 2% in repair costs vs. home list price.
#4 Current Market
Every market goes through a series of cycles. What affects your home’s price is determined by what is happening in your local area in reference to the economy, employment, etc. A top performing REALTOR® in your specific neighborhood will understand how to analyze and respond to local market conditions when strategically pricing your home for sale.
There’s a popular statement, “What sells real estate? Location. Location. Location.” This statement is only partially true. Although homes in more desirable areas sell for a higher price than homes in less desirable areas, pricing is still the most predominant factor. Since you have no control over location, shift your focus to pricing your home according to the market and neighborhood that you reside within.
Exposure, marketing, online tools, reputation, and connection are all vital to getting homes sold in today’s market. Listing with a top performing REALTOR® in your specific neighborhood will ensure you have someone experienced and skilled in how to market your home in the right places to a targeted audience for the quickest, most profitable sale.
Home selling is a competitive market that is constantly changing, by adhering to the “6 FACTS” above, you can sell your home with minimal hassle and for the highest possible return on investment!
Tress Realty Group compiles some of the best real estate news, tips, and information for buyers, sellers and investors.