In a seller’s market, your home will get snapped up for premium price, no matter its condition. However, you cannot count on that strategy to be successful every time. Sometimes agents & investors get overconfident in the market and get lazy about the work they should be focusing on. A good solution many come to find helpful is to be realistic. Although you may want to sell your properties quickly they may potentially sit on the market for quite some time. No matter the market, its still important to prep your home to sell well. Often times Staging will help spruce up the vision for those coming to view the property.
Classic supply and demand conditions come into play in every seller’s market. This is when there’s high demand, yet low supply. Most of the time you can expect to get more money for your home. However, that doesn’t mean the sky’s the limit when it comes to your listing price. Sometimes when a seller pushes up the asking price this may be a mistake in the long run. Determining the best asking price for a home is one of the most important aspects of selling a home. If your home is listed at a price that is above market value, you will miss out on prospective buyers, so keep this in mind when making your final decision on the price.” A good Solution would be to make sure that you and your agent are certain of the value of your home in your market and price it right. Solid comparables and an accurate appraisal will help you to determine the price.
It can be a bitter pill to swallow to pay for home improvements that you may not enjoy for long. If you want to sell for full asking price, you might need to get your house in a condition that correlates with your price. A good thing to remember is to not base this number only on price per square foot. Buyers will still want the most house for their money, of course the square footage with affect this but they will want the extras too. Solution: The seller or investor should have comparables to other properties in the area and price range and should most definitely upgrade amenities. This could be as simple as a double-bar towel rack, freshly painted front door, upgraded door handles. They may sound fairly simple but this will still make a big impact.
In this case a title isn’t the name you chose for your story. It is actually a document that shows ownership. One reason a house wont sell is because there is a problem with the title to the house and this can often times spook buyers. Here are some examples of title problems. A paid-off mortgage that is still showing up as a valid lien on the house. A mechanic’s lien that was filed for work done on the house by a subcontractor, or even Conveyance without a recorded deed . Solution: Almost always it will benefit you to take the little time to resolve issues like this. It’s as simple as calling the title company to find out what you need to do to prepare for selling.
It’s said that you have seven seconds to make a first impression — and the same goes for your house. About 90% of buyers start their search online and deciding about whether to come see the house based on a quick skim of your listing photos. If there are a few to no photos, this won’t help the buyer view the place. If the photos are bad because they weren’t taken professionally and or the house is cluttered many buyers will keep moving. Most buyers and consumers are visual and if there is nothing to go by they won’t even take the minute to view details without photos. Solution: Get your home staged and photographed by pros. You may think it’s an unnecessary expense, but the numbers show that professional real estate photos have the ability to generate more online views and sell listings faster often times closer to the listing price. It’s a definite that they’re worth it!
Sometimes there’s nothing wrong with your house at all: It’s priced right and is well-maintained. Your agent could be turning people off and if your agent in most cases will be your front-line representative this could push Buyers away. It will be in your best interest to find a Realtor that has personality, realtors that are burnt-out, don’t care and have no social skills will kill your selling vibe for sure. Solution: Hire an agent that you would invite to a dinner party, or even to meet your parents. If you don’t find an agent who’s interesting and pleasurable to deal with then you may need to make some changes. If you must let go of or break up with your current agent then so be it, this is your investment and time is money.
There’s a saying in real estate that may sound funny but it really is true, “If I can smell it, I can’t sell it”. If you’re immune to the smell of your home, get a friend’s honest opinion. Buyers and Homeowners like entering a home that has a refreshing or clean scent. Solution: Sometimes the remedy is a scented candle or freshly baked cookies. But if your house’s odor is persistent, it’s a good idea to determine what’s causing it and address it. Take care of mold and mildew buildup, pet urine on the carpet, or set-in smoke odor. If you address the foul smells you will be able to clear the air and have better luck selling the property.
If your house has old yellowing-white refrigerators you may need to upgrade to some Stainless Steel. Although potential buyers realize they can replace a refrigerator, if your appliances look as if they belong in the 60’s buyers might wonder what else might need replacing. This would include HVAC, heaters, and boilers which are less noticed by prospective buyers during initial walk-through but are almost never overlooked at inspection. Solution: It’s in your best interest to upgrade your appliances so they don’t look like they’re on their last legs. This advice goes for the unseen too — if your HVAC, plumbing, roof has a problem, you’re going to have to pay to fix it, or at least come down in your asking price. Your name is on the properties so its beneficial to sell a good product.