22 Aug Things home sellers can do to sell faster, for more money
Our latest listing has sold, and yet again, we’ve set pricing records in another amazing Central Phoenix townhouse community!
This listing was a great example of how to sell a house quickly, for top dollar: We sold this listing off-market in just 3 DAYS into our pre-marketing schedule. In those three days, we had 41 inquiries, 7 showings, and finally an over-asking priced offer. We closed escrow in UNDER 30 days and set a sales price record (that met appraisal!) in the community.
While we are THRILLED for our seller, it’s important to note that these results are not just a “given” in this market.
Phoenix is considered to be in a Seller’s Market. This has been for some time now, due to super low inventory and sky-high demand from buyers. This isn’t always a good thing for sellers: even in this market, some listings still sit on the market for much longer than their competitors, costing time, money, and opportunities to all sides.
Today, I wanted to share why your listing might not sell as fast as you hope it would, and what you can do about it!
One of the most important things to note about today’s buyers is that they are savvy. Today’s home buyer has more instant, accurate information at their fingertips than ever before, thanks to technology. (Duh.) Because of shows on HGTV, and the emergence of social media, buyers also have higher expectations for their homes.
What this means for sellers: While it feels a bit frenzied in some areas of the market, buyers, in general, are not willing to overspend. And, they are (in our experience) less likely to overlook objectionable items like required repairs and updates to a home.
Along with buyer behaviors, one still needs to adjust for seasonal effects in the market. This is regardless of who the market is currently favoring. In Phoenix metro, for example, listings typically move slower in the hot summer months and during the holidays.
For these reasons, when listing a new home on the market, it’s still sensible to take as many measures as possible to ensure a fast sale for the MOST money.
So…what’s a person to do?
There are several things we can do to help a listing sell faster, for more money.
Prepping The Home: It goes without saying that you’ll want your home to be “show ready”. This means the home needs to be clean, decluttered, and without odors. But if you’re really shooting for top dollar, you’ll want to go a step ahead.
Does the front and back yard look nice, or is it a dirt lot? Gravel and low water plants can go a long way in terms of making an exterior look finished. Is the interior a common color scheme of paint? Maybe it would be worth running through the house with a fresh coat.
Are there empty or sparsly furnished rooms in the home? Rearrange the existing furniture to fill spaces while keeping an open and flowy feel. Investing in small items like cute kitchen towels or bath cloths to stage those areas, and even throw pillows for couches and bedding, can help make a home feel much more warm and inviting.
You don’t have to completely renovate your home to get a high value. Still, making sure the home looks fresh and finished can help a buyer really see themselves there, and it will transfer to the photos.
First Impressions Matter: Over 90% of buyers today begin their search online. Be sure that any marketing photos you put online are done by a professional. High-resolution images will stick out and grab a viewer’s attention from a small mobile device, or a desktop.
If you are the seller: Insist that your real estate agent arranges for professional photography. Clean up the home, and make sure it’s photo ready. If your agent arrives to the house on photo day and whips out a camera phone…it’s time for a chat.
If you are an agent: Fork over the $100 or so and get a home photographer in the house ASAP. Get these images in hand for premarketing, and to be ready to load up to the MLS when it’s time to list.
Pre-market the home: In competitive seller markets, buyers are constantly looking for an edge. By aggressively premarketing the home, you’ll get the listing out in front of thousands of hungry eyes. A listing agent should post the listing on social media, leverage their network and neighborhood, and encourage private showings.
By generating a lot of interest before you list the property, you’ll be able to build buzz around the property. You can leverage agent feedback to test your projected list price (important). And, you can line up potential offers, which will support the demand and perceived value of the property.
These are just a few pointers to get you on your way to a quick sale and a strong return on your investment. Of course, all homes are not alike, and there are many ways one can leverage a great listing. But whatever your case may be, I hope you find these tips helpful!