Factors That Can Speed Up The Sale of Your Home

Many home buyers approach house hunting from the same angle as an employer searching for the ideal job candidate. It’s almost like they have a split personality. On one hand, they’re hoping that each prospect will be the one they ultimately choose. On the other hand, they’re also looking for flaws and weaknesses — reasons not to choose the house (or the job candidate) they’re considering.

The solution to that dilemma for home sellers is simple… but not necessarily easy! Follow the advice of songwriter Johnny Mercer, who penned the lyrics to the 1944 hit song “Accentuate the Positive” (eliminate the negative)! Presenting your home in its best light to potential buyers not only helps attract more offers, but it also increases your chances of receiving your asking price — assuming it’s based on hard facts, such as recent sales data of other comparable homes in the neighborhood.

Getting It Right The First Time

An experienced real estate agent can be immensely helpful in determining a realistic listing price that will reflect your home’s fair market value without being too high. (The last thing you want is for the price to scare away qualified prospects!) Although it’s not an exact science, there is a methodology that helps make sure the listing price is reasonable and in the right ball park.

There are several challenges that homeowners face in staging their home for quick sale and determining the best price for all parties involved. In addition to the potential pitfall of allowing one’s emotions to inflate a home’s asking price, it’s also difficult for the owner to view their home through the eyes of potential buyers. That’s why professional advice can often make the difference between success and failure in real estate sales.

Being able to identify cost-effective ways to enhance the curb appeal and overall marketability of a house for sale can be difficult for someone who doesn’t do it on a daily basis. A real estate professional with a trained eye can zero in on necessary changes, repairs, and cosmetic improvements that can accentuate the positive and eliminate — or at least, downplay — the negative!

If it’s been a few years since your house or rooms have received a fresh coat of paint, then that might be one of the first improvements a real estate agent or home staging consultant recommends. To “cast as wide of a net” as possible, neutral paint colors typically have the broadest appeal to prospective home buyers. Fresh flowers — both in hanging baskets and vases — are an inexpensive way to add some color and appealing touches to the look and feel of your home. Doing your best to get rid of clutter, weeds, and objectionable odors in and around your home are other basic steps you can take to make a positive impression on potential buyers.

How to Avoid Pricing Your Home Too High


 The bad news about selling your home is that there are dozens of mistakes you might make that could result in a lost sale, unnecessary price reductions, and delays in finding a buyer.

The good news is that the vast majority of seller mistakes are completely avoidable — especially when you have an experienced real estate agent guiding you through the process and providing you with ongoing advice and marketing assistance.

Pricing and Perception

Setting too high of a price for your home is a common mistake — one that’s often difficult to recover from. Since “the clock is ticking” from the moment your home officially goes on the market, it’s important to make the most of those first few weeks.

House hunters are often strongly attracted to homes that are advertised as being “just on the market.” Those words can be very compelling because they imply newness, a limited opportunity, and scarcity. As the advertising industry has known for generations, consumers are drawn to products and services that are new, fresh, and in demand. However, just like yesterday’s news or day-old bread, the longer a house is on the market, the less appealing it becomes.

According to a Zillow study, homes for sale priced around or slightly below market value are almost 50 percent more likely to sell within 60 days than those priced 12 percent or more above market value.

Working with a knowledgeable real estate professional can help make sure you don’t lose that initial out-of-the-gate momentum by pricing yourself out of the market. They’ll base their recommendations on a number of factors, including a comparative analysis of recently sold homes in your neighborhood .

Here’s a house-selling mistake that most people probably don’t know about: You might be losing potential buyers because you’ve chosen an “odd selling price.” The National Association of Realtors points out that listings may sometimes be excluded from Internet search results if the asking price is just a few thousand dollars above a typical pricing range. “Buyers search real estate websites for price ranges, such as ‘homes between $250,000- $300,000.’ If you set an odd price to make your listing stand out, say $302,499, you may miss some of your best potential customers.”

If you realize after a few weeks that you’ve incorrectly priced your house, it not only becomes necessary to lower the price, but you also have to contend with a lower perceived value among prospective buyers.

Buyer Psychology

A few other words and phrases that tend to whet the appetites of prospects searching for their next home include “move-in condition,” “landscaped,” and “updated.” Many people also like the sound of granite countertops, maple hardwood floors, and gourmet kitchens.

While it pays to know a little about pricing, home staging, and buyer psychology, getting advice and guidance from a seasoned real estate agent is usually your best bet for producing the fastest and most satisfying results in selling your house.

How to Set an Asking Price for Your Home

Setting a price for your home can be one of the most important decisions you make when placing your home on the market. The asking price can often make or break the sale. The asking price is part of the marketing of the home.

Here are some tips on how to set the right asking price in a strategy to sell.

1. It’s not personal. Let go of your personal feelings for your home. Potential buyers don’t care how much you paid for the home, how much time you spent planting a garden or how much money you’ve invested in in updates. A house is only worth what a buyer is willing to pay.

2. Get a professional opinion. A real estate professional can give you an opinion of its likely selling price range. The opinion should consider the prices of comparable recently sold homes, on-the-market homes and homes that were on the market, but weren’t sold.

3. Act like a buyer. Do your research by attending open houses in your area.  Try to think like a buyer and try to make an impartial assessment of how those homes compare to yours in terms of location, size, amenities and condition.

4. Consider market conditions. What are the home prices in your area doing? Are the prices going up or falling? What are the average days on market for a home in your price range? If prices are falling you will want to be aggressive in pricing making your home the best buy on the market and look for a quick sale before prices continue to fall.