Typically, a home that is well priced and shows well should have sold within its first six weeks of being in the market. If the home stays on the market for too long, potential buyers may think that it is flawed, stale or tired.
For this reason, if your home is not getting as many offers as you would like, here are some ways through which you can improve its traction.
The Condition Of Your Most Important Rooms:
Although you cannot change the location of your home, its price and condition are factors that you have the ultimate control over. First, you really should consider the conditions of the bathrooms and kitchens before listing your home. These areas need to be de-cluttered and staged properly for a successful sale.
You need to make sure that your home is able to be shown in it’s best light. This means you really want to consider making all these upgrades before listing. Buyers don’t like properties that have been on the market for a long time. You need to make sure you’re 100% ready to be listed when you do put your home for sale.
Alternatively, if you are not willing to have make recommended upgrades to your home, consider this when you and your agent are discussing pricing.
Strategic staging and the market presentation
In order for you to sell quickly, you will need to invest your time in getting your house ready to sell. Preparing the home for sale will involve taking out personal items, large furniture, paintings, finishing floors, replacing carpets and making some renovations.
However, there is a risk that if you happen overdo the staging and spend money and time in the wrong places then it may all be a waste. Instead, focus on bathrooms, kitchens, cleaning and getting rid of clutter.
Ensure that both you and your agent are in agreement
It is important that you find an agent with who will help the both of you to have a clear understanding of the sales strategy and pricing before listing the home. Get an agent who will have your back and ensure that you are the same page at all times. With this synergy, you will be able to avoid any unnecessary conflicts during the time that your home is still in the market.
Clearly discuss all your intentions concerning the home with the agent and pay close attention to his or her feedback. Do not be surprised if your agent suggests a lower offer or price reduction since he or she better understands the current conditions of the market. If your home is not yet selling after some time, and you as the seller demands to see progress, an ideal listing agent will normally ask for offers, do a follow up on all of the interested parties informing them that the seller is willing to sell. In cases where the buyer understands that the home owner will entertain offers that are below the asking price, then it will be unnecessary to reduce the home’s price.
It is good to have a first-hand experience of how the market works. If you have your home listed at a considerably lower price than you may be comfortable with, there are high chances that you will get offers almost immediately. However, if you have it listed at a considerably higher price you will find that the market will clearly speak for itself and you are likely not to get any response after a long period of time. Since every scenario is unique, it is important to team up with an agent who is in agreement with your specific strategy and is able to help you to adapt to your specific market.
Have the inspection and disclosure upfront.
If you present disclosures upfront and also provide the buyers with recent inspection reports, they will gain more confidence in the home. You may choose to price your home at an amount that will cater for any additional work to be done, they buyers may become more confident and are likely to make an offer quicker.
However, if you attempt to hide certain details and the buyers find out later, the deal may fall apart and you may even face a lawsuit. It is therefore important to be honest during the process.
To ensure that you make a quicker sale of your home, list it at the right price, present it in the best lighting and ensure that you make potential buyers to feel comfortable with the different aspects of your home.
Alex Saenger and the Saenger Group are Top 1% Maryland Real Estate Agents serving the Washington DC Metro area. We are licensed Realtors based in Rockville, MD at Keller Williams Capital Properties.
