Making the Decision To Sell For a Better Price Vs. a Faster Sale

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There are different approaches to selling a home and depending on your goal a couple different ways you can go about achieving that goal.  For homeowners looking to sell quickly so that they can relocate for a job, for instance, the option to sell as quickly as possible would be a viable one.  For families who have invested in their home for the long haul and had hoped to carry this investment through to the next property, hoping to maintain equity in their asset – selling with price in mind seems the better choice.

Either way, as we are in a current economic downturn that has lasted more than several years now, it is no secret that selling will not be as easy as it used to be.  By following some of the strategies listed below, you can count on an edge over other sellers who many not be savvy on the ins and outs of selling successfully.

Selling Your Home to Yield a Better Price

PRICE YOUR HOME REALISTICALLY.

The single biggest mistake sellers make during a soft market is to price their home too high.  Working with me we will investigate market trends in the immediate vicinity of your home.  In this link you will find information regarding a CMA.  (Comparative Market Analysis) As always I am happy to supply you with a personal CMA to gain an in-depth look at what other sellers are selling like kind homes for in your area, average Days-On-Market statistics, housing values and more.

Click here for your own personal CMA. >

SHOW OFF THE HOUSE.

Very surprisingly, a significant number of sellers have no idea that they should prepare the house for sale by highlighting its attributes.  Beginning with curb appeal, then the entrance of the home and finally throughout the rest of the space – any and all noteworthy features should be highlighted.  The home should be attractive; everything in working order and it should be set up in a way that potential buyers can imagine themselves living in the home.

RESOLVE ANY ISSUES.

Taking care of any outstanding concerns with the home, whether functionally or aesthetically, is a sure-fire way to get a better price.  Start with the major issues and then work your way down.  Unless you are willing to accommodate the price of repairs on a major problem such as a leaky roof, ineffective plumbing or an old furnace – resolve these issues. Remove all clutter that is in plain sight and “depersonalize” the space so that buyers can imagine their own things in the home.  A fresh coat of paint and replaced carpeting in neutral colors can go a long way as an effective selling tool.  Remember, the less a seller has to do once they move in, the better price you will achieve.

Selling Your Home Faster 

MARKET YOUR HOME EFFECTIVELY.

Anyone can put a house up for sale – but not everyone can get the word out and market it as effectively as needed to sell it fast.  One of the traits of a successful Realtor is going above and beyond the traditional methods of marketing real estate and actually selling the home.  Working outside the box will have a huge impact on your success – and it goes without saying that the more people know about your listing, the more likely it is to sell.

BE WILLING TO GET CREATIVE.

One of the best advantages you can have over other sellers is to realize that it is a buyers market at the moment.  If there are issues that you cannot resolve, be prepared to offer a rebate for the amount of repairs. Be wiling to contribute to closing costs – a feature of FHA loans – financing that many homebuyers are tapping into these days, home warranties are also helpful.  If you have an assumable loan, communicate it to the prospective buyer as this is an excellent tool to help sell quickly.  Provide as many amenities as possible so that the home is move-in ready; leave appliances that are already hooked up and include as many appliances in the deal as possible.  Some sellers even offer to pay the first year’s homeowners’ insurance.

REMAIN FLEXIBLE IN YOUR EXPECTATIONS.

If your primary goal is to sell your home as fast as possible, one possibility is auctions.  Though not the best way to yield the best financial return on the sale, auctions definitely provide the peace of mind that your home is sold almost instantly.  There are some disadvantages to auctioning a home – and other than price they are mostly restrictive to the potential buyer.  You must be very clear on your contract that the sale is “as is” since there will likely be no time for inspections.  Maintaining buyers’ expectations can be difficult in an auction but on the other hand you can present your home and expect an answer almost immediately.
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Not sure which approach you want to take?  Now that you have some tools and techniques – making the decision based on your needs should be an easier one.  Keep in mind you can also try to accomplish both, of course.  Regardless of the choice you make, it is essential to have a solid team backing you and one such pivotal member of your team will be your Realtor.  Be sure to choose a Realtor with whom you can feel comfortable, trust to take on the approach you feel is best for you – and one that will not be afraid to be honest with you in all ways to ensure the most success.