For home sellers, there is no time quite like the present. The majority of sellers are looking to find a buyer as fast as they possibly can, getting the best possible price in the shortest time frame they can. That’s easier said than done in today’s bloated, foreclosure-hit markets of course, but by paying heed to the following advice, sellers might just be able to cash in sooner than they think.
A recent piece in 24/7 Wall Street quizzed numerous real estate professionals, asking for their expert advice on what sellers can do to get a fast sale at the best possible price. Here’s what they suggested:
Curb appeal is all-important
Experts remind sellers that first impressions are absolutely vital to making a sale. Numerous real estate agents agree that homes with well kept lawns and inviting exteriors nearly always sell better than those with a cluttered landscape. Quite simply, if the buyer doesn’t even get their foot in the door (and they won’t, if the home is ugly), how are they going to make an offer?
Here’s the conundrum – sellers want a fast sale, but at the same time they often have to compete with dozens of other homes (including cheap foreclosures) of similar or lesser prices in their area. The key here is to listen to what your realtor says when recommending a realistic listing price. Agents will determine the best price for a home using comparable sales data of similar homes sold in the last sixty days.
Setting a realistic price from the off will avoid wasting time having to drop the asking price bit-by-bit to lure buyers in. For homes in areas where not enough comparable data exists, an appraisal may be a good idea – the appraiser will set a realistic price that any bank will almost certainly agree to by the time a buyer is found and looks to secure financing.
Explain what “Energy Efficiency” really means
We’ve all heard about ‘green homes’, but many of us don’t really realize the financial benefits of living in one. Savings on bills can have MASSIVE appeal for prospective buyers, so sellers are advised to not just point out the energy saving features of their home – but also detail exactly how much money they can save.
Let’s face it, the majority of buyers want a home that’s ready to live in. Sure there’s tons of investors out there looking to buy homes on the cheap, do them up, flog them for a profit – but there’s tons more buyers out there who prefer to move right on in and start living the dream.
As such, sellers need to make their homes spick and spam. Fix everything that needs fixing. Creaky doors, windows that don’t quite shut, water stains, peeling wallpaper, missing tiles, etc, etc., these all need to be fixed asap! Things like this should be done before the home is placed on the market. Moreover, many agents believe that having a home inspection done before it gets listed is a great tactic for selling a home fast. Doing so, sellers will be able to identify any potential hurdles that could scupper a sale at the last moment.