by Hope Teller
The market we are in right now is a buyer’s market AND buyers have so many options to choose from. What makes your home stand out? What makes it special? And does the amount of days your home is on the market actually matter to buyers? The answer is YES. If prospective homebuyers see a home that has been on the market for even longer than a month, they will assume something is wrong with the home. They will want to know why other buyers passed on your home and will most likely want to move onto another home that is fresh on the market. Before you put your home on the market, be sure to follow these steps to prevent your home from staying on the market too long.
- Do a Comparative Market Analysis – this will provide you with the necessary details of the area your home is situated in including: price range, sales increases, days on market of other homes in area, sold homes, etc. By doing a CMA, you can estimate how long your home will be on the market and plan accordingly. What can you do differently to make it sell quicker?
- Don’t Overprice – many sellers don’t do an analysis of their sales area and overprice their home thinking they will get that much. When this happens, the days on the market begin to increase because buyers do their homework and see that other houses in the area aren’t going for that much and then move on. Sometimes sellers just price high hoping some fool will pay that ending in seller’s remorse because then their house is on the market too long and they lose homebuyers. Do your research.
- Unsuitable to Show – prepare your home for sale. If you put your home on the market too soon and prospective buyers come to view it and see a mess, you could lose offers. Clean your exterior of your home, make it presentable and inviting. Clean the interior, make it homey and clean. If you have pets, be sure to keep them out of the house when you are showing and deep clean the carpets. If you have kids, organize all the shoes, decorate the house, light some candles, bake some cookies. You have to actually TRY to sell your home – not just hope someone will take it as is. This is what keeps it on the market so long.
- Show More Pictures – almost all homebuyers research online when shopping for homes. If they come to your home online and want to view what it looks like inside, they want to see pictures. They cannot get excited about visiting your home if there is only one picture and it is of a garden. They want to see the house, inside and out, so that they can view themselves living there. People are VISUAL – give them what they want.
- Hire an experienced Real Estate Agent – no one wants to spend money, but when you are working to sell your biggest investment, maybe a professional is what you need. A real estate agent will work with you to get the best possible price for you and your family. They will instruct you what to do in order to sell your home quicker and they will be able to negotiate with buyer’s agents who may try to pull one over on you if you are not prepared. Just be sure to hire a good real estate agent who has your best interest in mind and not just their commission.
Remember – you can sell your home quickly if you do your research and prepare your home the way you think a buyer wants to see it. The longer your home stays on the market, the more offers you will lose and the more time you will waste in trying to sell.