Some will say that when you lower the price on your home that it’s a sure sign your marketing isn’t doing what it should, they may even go so far as to say that if you don’t sell in those first two magic weeks that there is no way your home can compete to more newly listed homes with a better price. None of this of course is completely true. The market is constantly in flux and having to adjust price, especially after the first week or more on the market, is not uncommon.
While we always suggest taking the advice of your own agent, here are some tips to help you get that home sold quickly without too much compromise on price.
Know the current fair market value and price accordingly. Don’t price the home for what it was in 2005, don’t price it for what it might be in 2015. Have your agent provide a comparative market analysis of your home based on it’s amenities, location, and other market factors.
Present the home in the best light. Curb appeal plays a big part of this; the old addage is true – first impressions are everything. This can range from keeping the yard well maintained to even just adding some new paint to the front door. Take care of any small repairs well in advance of showing the home.
Ever heard that a picture is worth a thousand words? That’s even more true when it comes to real estate photography. A survey from REALTOR.org shows that homes listed with professional photos sell on average for 10% more than homes without. This also means a little prep work for you the homeowner: tuck away laundry baskets, pet beds, and make sure everything looks tidy.
Social Media. It’s one more place to show off your listing; if you’re working the networks correctly it can be a very powerful way to do it. When your home is listed get the link from your REALTOR® so that you can share it on your own personal networks – you may have a buyer amongst your friends without even realizing it!
Homes that are priced based on the current market conditions, are marketed online, and also shows well in person will generally almost always sell for more than homes that are simply thrown onto the market and forgotten.