Friday, November 8, 2019 / by Ariadne Gold
If you’ve decided to sell your house, you’re probably wondering how to ensure that it sells quickly so that you can move on to your next adventure!
The first thing to remember is that the two things that drive home sales are price, and condition. So correct pricing and ensuring that your home is in good condition are very important!
If you’ve already listed, or are about to list, your home, you should have had a comparative market analysis done by a local Realtor. It’s important to price your home at or below market value. You don’t want to list too much below market value, because that will cause buyers to wonder what is wrong with your home. However, listing $5-10,000 below market value is a great strategy for causing a bidding war and getting an eventual sale price above your list price. People notice a good deal, and will be more likely to pay more if they think they’re getting one (I’m not a psychologist, but years of experience has shown me that this is true!) You don’t want to price too high, and have your home sit on the market for weeks or months. Even if you end up reducing the price, a long time on market gives your property a bad stigma. Pricing correctly from the beginning is crucial!
It’s also important for your home to be in good condition. Work on landscaping, paint if needed, replace cracked or scratched trim, Etc. If you have a lot of obvious deferred maintenance in the home, buyers will wonder what else is wrong that they CAN’T see. I did a blog on 10 things that turn off homebuyers; these include bad smells, too much personalization, and bright paint. Check it out for some more tips!
If you want your home to sell fast, its going to be important to be open to negotiation. Not so much when you are first reviewing offers (because in the Spokane market, if you’ve priced it correctly, you should have an offer at list price if not multiples.) but during the contract, especially when it comes to repairs. If the buyer asks for repairs that you aren’t willing to complete, and the home goes back on the market, you’re going to be back at the beginning with another 30+ days before closing (and that’s if you get an offer right away.)
As always, I’m here to help with any questions! (509) 217-7172