Sell Your Home Faster
Spring is almost here, and with it the traditional start of the home buying (and selling) season. If you’re thinking about putting your home on the market, here are some tips on how to sell it faster at the right price.
1. Know your market.
How are homes selling in your neighborhood, especially over the past three months? How close have they been selling to their asking prices? You can learn a lot about selling your own home by checking out the successes of your neighbors. Talk to your trusted Realtor to learn more about an appropriate price for your location and specific lot. Also, be sure to check home prices from a year ago and compare with what they’re selling for today.
2. Set the right price.
If homes are selling quickly in your area, consider adding a premium to your asking price. (If homes are selling in just a week or two, you know you’re in a “seller’s market.”) But if it’s more of a buyer’s market, it’s important that your price doesn’t turn away potential buyers, especially during that important first month of its listing.
When you receive an offer, be sure to discuss it with your real estate agent to determine how best to respond. Also, be sure to discuss any contingencies the potential buyer is asking for; a common one is making the deal contingent on the buyer selling his or her current home.
3. Choose the right agent.
Word of mouth is key, so be sure to ask friends, family and business associates to refer you to a real estate agent that may be a good fit for you. Once you’ve narrowed the field, don’t be afraid to ask some tough questions. How well does the agent know your neighborhood? Has he or she had success selling there already? What is the agent’s suggested asking price, and how does it match up with the price you’re thinking about, based on your own research?
4. Understand your listing agreement.
Don’t lock yourself into a long-term listing agreement; three months should be long enough to determine whether your choice of real estate agents was the right one. Also, feel free to negotiate the commission. If your house has a high value, a lower commission is perfectly acceptable. Or, if it’s a buyer’s market, you may offer the agent a higher commission for a faster sale within your price range.
5. Spruce up for Open House.
“Curb appeal” does matter: so clean up, fix up and unclutter your house and yard. Fresh flowers can liven a room. Mow the lawn. And don’t forget to straighten up the basement and garage. A little imagination, and a fresh coat of paint, can make your house feel like home to potential buyers.