Top 5 Key Factors to Selling Your Home

According to studies done by the NAR (National Association of Realtors), most homes sell within the first 60 days of being listed. Homes on the market longer than 60 days usually result in larger reduction in price than comparable homes selling in less than 60 days. Therefore, it is imperative that you, as a Seller, create the best presentation of your property to the Buying community from the onset to increase the chance of a sale and the amount of money you receive for it as well.

Below are 5 key factors to increase the amount of money you receive for your home and decrease the amount of time your home spends on the MLS.

Pricing Factor. It is very important to price your property at a competitive market value right when you list it. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time. An overpriced home:
           o Minimizes offers;
           o Lowers showings;
           o Lowers agent response;
           o Limits financing;
           o Limits qualified buyers;
           o Nets less for the seller
80% of the marketing is done when we decide on what price to list your home. If you are unwilling to list at current market value, you would be better off not putting it on the market at this time. Homes listed above market value will also cause potential problems in the future even if you lower the price after the magical 60 day mark. Buyers may look at a sudden price drop to mean:
          o Highly motivated Seller trying to dump his house;
          o Now known defects in the house that were unknown prior to price drop;
          o Desperation to sell caused by financial pressure;
          o Plus many more…

Clean Factor. Most people are turned off by even the smallest amount of uncleanness or odor when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is squeaky clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more. If you are planning on moving, why not get rid of that old junk now so that your house will appear larger? Make more space. Odors must be eliminated especially if you have dogs, cats, or young children in diapers or if you are a smoker. You may not notice the smell, but the buyers do! Most agents have a difficult time communicating to their sellers about odor. If you employ an agent to get the most amount of money for you, please don’t take offense if he must confront you about odor problems.

Access Factor. Top selling agents will not show your home if both the Key and access are not readily available. They do not have time to run around town all day picking up and dropping off keys. They want to sell homes! The greatest way to show a house is to have a key! When your home is being shown, please do the following:
         o Keep all lights on
         o Keep all drapes and shutters open
         o Keep all doors unlocked
         o Leave soft music playing
         o Take a short walk with your children and pets
         o Let the buyer be at ease and let the agents do their job

Paint & Carpet Factor. Paint is your best improvement investment for getting a greater return on your money. Paint makes the whole house smell clean and neat. If your house has chipped paint, exposed wood, or the paint looks faded, it is time to paint. If your carpet is worn, dirty, outdated, or an unusual color, you may need to seriously consider replacing it. Many houses do not sell because of this problem. Don’t think that buyers have more money than you have to replace carpet. They don’t. They simply buy elsewhere.

Front Yard Factor. Your front yard immediately reflects the inside condition of your house to the buyer. People enjoy their yards. Make certain that the trees are trimmed so the house can be seen from the street. Have the grass mowed, trimmed and edged. Walkways should be swept. Debris cleared away. Remove parked cars. This all adds to curb appeal. If a buyer doesn’t like the outside, they may not stop to see the inside.

I am sure there are plenty of other items that you can add to this list and it is no ways meant to be exhaustive. These are the top 5 key factors that I use when helping my client establish a listing price and a marketing plan for their property.