Have you ever driven through your neighborhood and seen a “For Sale” sign sit in front of a home for entirely too long? Ever wondered “What is wrong with that house” as it continues to sit on the market? Ever wondered why some homes don’t sell, while others seem to be Under Contract on Day One?
With low-interest rates and low supply, now is the best time in years to sell. While home selling is not an exact science, there are a number of factors that can help ensure that your home is ready when it hits the market.
The Price is Right
As a homeowner, you have an emotional investment in your home. You’ve spent holidays there, raised your children there, and invested time and effort into maintaining and improving it.
In addition, you may have heard of other homes in your neighborhood selling for more than you thought possible, leading you to assume that your home will also sell for that price. However, many factors go into determining market value, and your home value will be determined by a variety of measures including what upgrades you’ve made, their quality, and even the time of year.
And while you may have heard of that one comparable home that sold for far over market value, there may be others that sold much lower. Those comps will also be taken into account when Buyers are determining fair market value for your home.
If you are priced at the top of the market, buyers may choose not to make an offer at all. Want to float a higher price at first, “Just to test the market”? This could end up backfiring, causing you to chase the market down and end up below the floor you anticipated.
The Right Upgrades
Saw a spectacular light up shower wall in your Vegas hotel suite? Thinking of building a huge Great Room addition onto your bungalow? Choosing a retro theme for your kitchen?
All of these real-life upgrades can turn into “downgrades” when it comes time to sell.
If your upgrade prices you out of the neighborhood or doesn’t keep with the style of the area’s homes (and the expectations of potential homebuyers) they might end up doing more harm than good.
If you are in your forever home, indulge your design whims to your heart’s content. But if you know you’ll be selling soon, make upgrades that will have potential Buyers saying “Wow” instead of “What?”
The Right Timing
Timing can make a big difference in your home sale, especially in maximizing your exposure to homebuyers.
Factors like an early spring snowstorm can mean that your listing goes stale before people are out looking. The school calendar can also have a big impact on when people are starting to look in order to get to the closing table in time for the start of the school year.
If the timing is out of your control, like with a job change, pricing strategies, staging, and marketing become even more important in order to offset a slower market.
The Right Marketing
Gone are the days when a Realtor stuck a sign in the yard and called that a marketing plan. Now, more than 90% of home buyers search online during their home buying process.
That means that photography, virtual tours, and other online tools have become even more vital in successfully positioning your home in the marketplace. An extensive online and social media presence along with mobile optimization is also vital for reaching all of those potential Buyers.
The Right Agent
The right agent understands all of these factors and, more importantly, can communicate effectively with you in order to help you navigate the many elements that go into a great home sale experience.
From price to smart updates to marketing, your Eng Garcia agent has the experience and client focus to ensure that you have the latest insights and strategies to create a home sale experience that is second-to-none.
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If you or anyone you know is thinking about selling and would like some advice from one of our Real Estate professionals, please don’t hesitate to give us a call at 202.290.1313 or email us at firstname.lastname@example.org.