Tips To Not Just "List" Your Home, But To Get it Sold!
Here Are Some
Steps To Figure A Fair Value For Your Home,
1. Make
It Less Personal
When you decide to put a house on the market
its best to
stop referring to it as "my home"
when selling -
It becomes a property. This will help you to get
some emotional distance as a home seller. You
will need to view the house more objectively
like
from the
buyer
'
s
perspective
~
in a more realistic way
of price and Value.
2.
Tour Your Neighborhood
Ask your Realtor to take you around to a few houses
in the neighborhood, or look up the local Open House
listings and go yourself to research home values.
Focus on homes within in the same subdivision or a
few miles of your own home that are a similar size
with similar property.
Pay attention to how they show. Does the outside of
the property look inviting? The kitchen and
bathrooms updated? Are the windows in good
condition? The floors and carpets clean and are the
walls freshly painted? Would a buyer have to make
any immediate repairs or correct any extreme style
choices? Consider the price and see how long the
house stays on the market. *Come back to your house
and look at it the same way you did the others. How
does your house "show" in comparison? Make any
necessary improvements or adjust your price. The
homes selling quickly are usually in the best
condition.
3. Examine
The Comps
"Comps" are the price on homes, comparable
to a seller's home that have Sold or
currently Active on the Market. While Active
houses will tell what home sellers are
asking, Sold homes tell you what they're
actually selling for and therefore
the true home values that are in your
neighborhood. The comparison of those two
numbers can itself be instructive. Your
Realtor can give you a list of local
comparable homes.
Since many Realtors can't disclose a price
until the deal has closed, comps can lag a
little bit. Follow them for as long as you
have your property on the market so you know
which way prices are trending.
It's also important to know how long
comparable houses sit on the market. If
local properties are moving in less than a
month, you're in a Great market and can
price more aggressively. Thirty to 60 days
means a good but not great market, more than
90 days could mean you're in a slow market
and you've got your work cut out for you.
4. Do
A Test Run
Watch what happens during the first few
weeks that your property is on the market.
If people look but don't make offers, you
probably priced it a little too high. If no
one even comes to look -you are likely not
priced in a Realistic range. In either case,
Get the price down quickly to improve your
chances of selling.
How much do you cut? Look at the latest
comparable homes and set a price that sits
on the low end of them or lower for the best
results.
5. Make
Your House A Good Deal
If you know Homes are selling for about
$350,000 in your
area
don't hesitate to put yours on the market
for $325,000. That will make yours look like
a really good deal and will make people want
to come out and
take a
look. The more showings the better -You want
to generate as much interest as possible. If
you
can
sel
l
for less, then that could mean getting out
from under a house quickly. *Sometimes when
a house is priced lower a Seller will get
multiple offers, that can bring a higher
than list price -making it closer to what
the seller who lists at $350,000 might end
up having to come down to.
In some
Area
markets, trying to sell your home for too
much might mean sitting on it for a lot
longer than you plan, but in most markets it
might mean not selling at all.
Adjusting the price
quickly is one of the most important things
that a seller can do to attract a buyer and
achieve a faster
closing
date
.
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