The advice for Frederick Md home sellers is prolific. I’ve been coming across articles for years with tips for staging, pricing and marketing. The truth is that there are still 5 basic truths to selling your home.
1. Price Realistically
So often sellers want to try their luck at starting high and adjusting their price along the way. To a certain extent, this strategy is sound… as long as your starting price is not out of the market. If you price your home 10% or more above the comparative homes in your market, all you will hear for the first few weeks on the market is crickets.
There are 3 barriers to getting more for your home than it’s really worth:
- The first 30 days on the market are crucial. That is the time period when a home gets the most showings. If you squander that golden time by overpricing, you won’t get it back.
- The truth is, buyers are savvy. They are most likely working with a buyer’s agent who is doing a comparative market analysis, letting them know that your house is a little overpriced. The buyer’s agent has a fiduciary responsibility to their buyer, to look out for their best interests. And one of those interests is to “not overpay” for a home.
- The biggest issue is that even if a buyer happens to fall in love with your overpriced home and agree to pay your asking price, the chances are great that the home won’t appraise for the amount you want. You’ll have to renegotiate anyway, or risk losing the buyer.
2. Condition
Not much to say except that if you are trying to sell your home, you are in competition with all the other homes in your price range, size and style of home. You will make out much better if your home is in the best condition it can be, repairs are done and it’s clutter-free. Over-improving for the neighborhood is not a good idea, but it must show well.
3. Photos
When buyers are looking online, as 90% to 95% of them do, they want to see photos, lots of photos. Statistics show that the more photos you present in your online marketing (MLS and various websites) the higher your chances of getting a buyer to see the home. Make sure your agent takes lots of photos. Our MLS allows for 30 photos and 2 virtual tours. Having a virtual tour increases the likelihood of showings even more. Remember, if you can’t get people to get off the computer and into a car to see your home, you can’t sell it.
4. Availability
One of the most frustrating things to a buyer’s agent is to find a beautiful house that your buyer will most likely want to see, but the showing instructions are difficult to work with. “Showings only between 5 and 7 pm, and not on Sundays.” Well, that’s difficult when your buyer works on Saturdays and can only see homes after work and on Sunday. Another is “48 hours notice”, or worse yet, “1 week notice”. Well, my buyer is from out of town and will only be here for two days. I guess we’ll have to pass on your home.
I know that selling a home is difficult, it dominates you life for a few months. But being flexible is a must. You are in competition, and you have to make your home as easy to see as possible. Otherwise, you just end up selling your neighbor’s home.
5. Spread a Wide Net
In this day and age, buyers come from everywhere. Trulia, Zillow, Craigslist, Realtor.com… I have a list of 50 real estate specific websites which we promote our listings. Not only must your home be listed everywhere buyers are, you must spread a net as wide as possible. Your price, condition and marketing must be in order.
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