Pricing is going to be the single most important factor in getting your home sold. Pricing it correctly.
Zillow will tell you one thing. A “neighborhood expert” might tell you something else. This can sometimes be a delicate conversation, particularly if you think your home is worth X, and the rest of the world thinks it’s worth Y.
In its most basic form, here’s some guidelines:
The Market Value of Your Home is NOT:
- What you have in it.
- What you need out of it.
- What you want.
- What it appraised for.
- What you heard your neighbor’s house sold for.
- What the tax assessor says it is worth.
- Based on memories and treasures.
The True Market Value of Your Home Is What a Buyer is Willing to Pay:
- Based on today’s market.
- Based on today’s competition.
- Based on today’s financing.
- Based on today’s economic condition.
- Based on the buyer’s perception of the condition.
- Based on location.
- Based on normal marketing time.
- Based on showing accessibility.
Properties That Sell in Today’s Market: On a Scale of 1 – 10, the “10’s” Are The Ones That Are Selling. How Can Your Property Be A “10”?
- By improving the condition dramatically.
- By offering good terms.
- By improving the way the home shows.
- By pricing it realistically.
As a Seller there are 3 things you control, and 3 things you can’t control:
- The price you ask.
- The condition of the property.
- Access to the property.
As a Seller you do not control:
- Market conditions.
- The motivation of your competition.
When preparing your home for sale, you might focus on the things that will impress buyers, such as clean/uncluttered spaces, well lit rooms, staging, and so forth.
But it’s equally important to pay attention to those things you don’t want buyers to see… those little turn-offs that, although seemingly minor, can distract buyers and cause them to lose interest in your property. I’d categorize these things as:
Pets. Although many people love pets, some don’t. Others are allergic to them. Dogs, in particular, can take a keen interest in new visitors, jumping and barking excitedly. It’s best to take pets for a walk during viewings.
Unfinished repairs. Dripping taps. Gouges and marks on walls. Broken tiles. Squeaking gates. Home buyers will notice, and may mistakenly think there are other deficiencies lurking in your home. Do as many repairs as you can. Then be upfront about those that are in progress.
Clutter. It’s common for main rooms, like living rooms and kitchens, to be clean and uncluttered during a viewing. But buyers who become interested in your property will take a closer look, and check out the garage, cupboards, backyard shed and other places where things tend to accumulate. The more you de-clutter, the better your property will show.
Smells. Scents have a strong influence on emotions. Though buyers won’t see, they will definitely notice lingering odors associated with pets, garbage, exotic cooking, and smoking. So make sure your home is as scent-free as possible.
You. Nothing personal. When buyers view your home, they want to visualize themselves living there, not you. So let your realtor be the host. Remove as many personal items, such as family pictures and trophies, as possible