American Eagle Realty's Blog
Selling a home requires a combination of careful planning, favorable market conditions, and good luck. As a result, there’s no simple formula for determining when your house will sell. There are, however, things you can do to help increase the odds of your home selling within your timeline.
In this article, we’ll go over some of the reasons homes sell quickly or slowly, and offer some tips on how to plan accordingly so that your home sells at the price you want and within the time you need, so you can get back to your life in your new home.
What you can’t control
Let’s start with the pre existing conditions that you won’t have much sway over when it comes to selling your home. First, there’s the market: is it a buyer’s or a seller’s market? The term “seller’s market” deals with supply and demand. In a seller’s market, there is more demand than supply, and therefore listings often see quicker sales and more frequent offers. These terms are used geographically as well. While we are currently considered to be in seller’s market nationwide, it could vary geographically. Certain cities and regions experience surplus housing and are therefore considered buyer’s markets.
What you might be able to control
One factor in the amount of time it takes for your home to sell that you have some control over is when you put it on the market. A new study has found that the best time to sell a home is early March to late April, depending on your geographic location.
For you, this means ensuring that your home is ready to be listed by the end of January. That means you won’t want to delay in getting outdoor issues taken care of before winter arrives if you live in a colder climate. It’s much easier to work on roofs and driveways or septic systems before temperatures reach freezing.
What you can absolutely control
Now that we’ve talked about those details which are out of your hands, let’s talk about what you can do now to increase the likelihood of your home selling when you need it to.
First, be sure to price your home accurately. Any time that your house sits on the market with an inflated price is time wasted.
Next, stay on track with home improvements and upgrades that will increase the interior appeal and curb appeal of your home. That means fresh coats of neutral paint, a lot of cleaning and decluttering, and some appropriate landscaping. It’s important to remember, however, that some upgrades aren’t very cost-effective, so be sure to do your research before taking on big home improvement projects.
Right before you put your home on the market, take the time to stage the home and take great photos. Cell phone pictures of a dirty house with poor lighting won’t do you any favors. If you know a photographer, enlist their help for the day to make sure your photos stand out on listing websites.
If you follow these tips and remain consistent in communicating with your real estate agent, there’s no reason you shouldn’t sell your home within the timeframe needed for you and your family.
Although location is one of the most important factors that will impact the marketability of your home, it's not the only thing prospective buyers are thinking about.
If they're organized, focused, and serious about finding the right property for their needs, they've probably developed a detailed checklist of "must haves" and a "wish list."
In all likelihood, those who are working with a real estate agent are being shown properties that conform to their requirements and many of their wish-list items. A comprehensive list would include everything from the number of bedrooms and bathrooms they want to square footage and the quality of the school district.
Many people also have specific preferences about features like floor plans, amount of storage space, the size of the backyard, architectural style, and the availability of a fireplace, patio, porch, deck, eat-in kitchen, two-car garage, and privacy features. Some are even looking for the traditional white picket fence in front of the house!
While your home can't be "all things to all people," it is highly recommended to target the widest possible audience. Your agent, a home staging consultant, or a home decorator can provide you with valuable tips on how to achieve that outcome.
Stand Out and Get Noticed
Just looking good on paper, though, is not always enough to attract motivated buyers. Prospects need to love what they see and be inspired to envision themselves living in your house. Doing what you can to create irresistible curb appeal is one vital aspect of making a great first impression. A manicured lawn, a fresh coat of paint (if needed), and some strategic home staging -- inside and out -- can make all the difference in your results!
Curb appeal is vitally important because that sets the stage, so to speak, for creating high expectations in your prospects. Once you get them in a positive frame of mind, they'll be more inclined to notice all the positive aspects of your home. If your house meets all or most of their requirements and is arranged in a way that's pleasing to them, a purchase offer and negotiations may be right around the corner.
One of the most crucial hurdles to clear in getting prospects to consider buying your house is to help them imagine living, relaxing, raising a family, and pursuing their interests in your home. Your real estate agent can help you effectively stage the interior and exterior of your home to make it inviting and appealing to the widest range of potential buyers.
You can support their sales and marketing efforts by making sure your home is always clean, fresh smelling, and ready to be shown at a moment's notice to house hunters. Doing your best to eliminate clutter, keeping counter tops neat, and making sure pets are on their best behavior (or happily frolicking at the local "doggie daycare" center) can play a key role in winning over interested buyers and successfully selling your home!