The two most important questions homeowners want answers to are “How much is my home worth?” and “How long will it take to sell?” Many homeowners base the answers to those questions on the experience of their neighbors. If your neighbor’s home took two months to sell, then it seems likely that your home will also take two months to sell, right? Well, this isn’t necessarily true.
There are a number of factors that come into play when selling a home, especially in a seller’s market. The number of homes coming to market is down 13.5% compared to last year, and the current housing inventory is down 28% overall.
It’s a great time to realize the equity gains over the last couple of years and find the perfect buyer. There are three major factors that determine the resale performance of a home: price, location, and condition. In a seller’s market, it may not just be the condition of your home that affects the value.
I want to make sure that your home can sell for top dollar, and there are some steps that can be taken that will make the difference.
“Even in a seller’s market, buyers are extremely savvy and cannot be fooled.”
We have an extensive list of contractors, painters, landscapers, and stagers that can truly make your home shine like a diamond. As for specific improvements, those are determined on a case-by-case basis, which I am more than happy to assist with. Here are five things sellers should focus on when preparing their home for the market:
1. Landscaping. Statistically speaking, potential buyers will experience an emotional attachment to a home they are touring within the first few minutes of arriving at the property. The landscaping is the first point of contact for potential homebuyers on their visit, which makes it an extremely important part of preparing your home.
You may already have beautiful landscaping, but it’s important to make it look like it’s new landscaping. Re-mulch areas, remove dead plants or other vegetation, and update your planters to give your yard a fresh look.
2. Make it look as though no one lives at your home. This is easier said than done. Decluttering your living space gives the buyer the chance to dream and imagine themselves living in that space. It becomes more difficult for that to happen when your space is filled with your personal items.
This may prove to be difficult for some sellers who have lived in the home for an extended period of time, but it is one of the most important things that you can do to strengthen the chances of attracting the right buyer for your home.
3. Replace your flooring or paint if necessary. If you have to ask yourself if painting or re-doing the floors is necessary, then the answer is most likely yes. The buyer will appreciate a home that feels fresh and clean, and paint is an inexpensive way to refresh your home.
If your floors need to be redone, we offer a great deal where our flooring company will replace the floors and submit the bill to be paid by the escrow company when the closing is complete. This is an amazing opportunity to update your floors without any upfront costs.
4. Professional photography. It goes without saying that this should be the norm in real estate, but I’m sure that we can all agree that many agents are doing their clients a disservice by not taking professional photos of their homes.
Photos are the first point of contact to create that emotional attachment mentioned earlier with the buyer. It is our chance to tell the story of your home before they even come to see it. That can be accomplished with aerial photos, video walkthroughs, and 3-D tours as well.
5. Pricing. Even in a seller’s market, buyers are extremely savvy and cannot be fooled. This should be taken seriously as we only have one chance to make a good first impression when pricing your home. All of the work that was done on updating the landscaping, interior, and through professional photography will mean nothing if we don’t price your home that makes sense to the market.
We have years of certified appraisal experience and would love to help you get an accurate appraisal for your home.
If you have any other questions, need help getting your home ready for the market, or are looking to buy or sell a home, give us a call. We look forward to working with you!
