Selling? You might have more control over how fast your home sells than you think. Every sellers wants their home to sell quickly and for the best price. Unfortunately it doesn’t always play out like that. It can be frustrating when you home doesn’t sell, while one down the street gets grabbed up in a week.
The homes are in the same location, with the same square footage and floor plan… so why wouldn’t they sell in the same amount of time?
If you are in a situation like this, you may be quick to blame your Realtor for lack of advertising or poor photography.. but the real problem could lie in how you present your home to buyers.
To understand a seller’s experience, lets look at 2 approaches to listing a home.
- The home that didn’t sell: Maybe someone told you that you could sell your home without updating first. Many sellers start out with this thought in their head but find their homes sitting on the market with little to no activity. Imagine this sellers home, they have lived here for 30 years, raised their family, and now they want to move on. They don’t exactly know where they want to go after they sell…but they plan on figuring that out later. The big issue here, without having a after sale plan or exit strategy they cant possibly be in a position to sell… as a result they may reject the pricing and advise of smart local Realtors and go with the agent who tells them what they want to hear. They list their home as-is.. local agents tour the home and it leaves them with a bad first impression. If the agents are excited about the home, their buyers sense it and move on. Meanwhile, the number of days on the market ticks up, potential buyers see that number grow and think somethings wrong with the house. The seller cycles through a couple more Agents who won’t tell these Sellers the hard truth and they end up with their house on the market for over a year. They reluctantly sell for a lot less than they should have.
- The home that sold: Now lets talk about that home that got grabbed up at the seller’s desired price. These seller’s reached out to their agent well before they planed to move and explained that they wanted to downsize and move closer to the city. They didn’t have an exact plan yet but wanted to be in touch with an agent who understands the market, its dynamics and what would have to happen for them to sell successfully. Working with a skilled Realtor, these seller’s came up with a 6 month plan. They would set up an estate sale, move their oversize furniture to storage, pack up some extras around the house and make required repairs around the house. These buyers understand that the house they raised their children in is not what buyers want in today’s market. Trends change just like the market. They decide to rent in the city after their homes sells. Their agents lists the home and local Realtors see the improvements they have made and get excited! The sellers get a lot of buyer activity and the sellers have a deal in 30 days.
Selling a family home after raising your family and sharing so many memories with it can be emotional and stressful. A homeowner who hasn’t emotionally detached from their home cant possible be objective.They think they are ready to move on and want to get it over with. Sellers need to realize that its their home first, its also an investment. You may feel insulted if an agent tells you your home is not ready to list because it needs updating.. but its important to consider the perspective of a buyer.
Give the people what they want! Most buyers want a turn-key home. They don’t want to spend a penny on repairs or upgrades and they don’t have time to do the work. Show them new floors, fresh paint and a white bright kitchen and they will jump all over it.
Sellers who invest time and money into preparing their home for listing will sell quicker for more money, and that’s what ALL sellers want.