When your home sits on the market for a long time, it can be extremely frustrating! Unfortunately, many sellers are in this position today.
According to data from the National Association of Realtors (NAR) the time a house sits on the market has increased since prior years.
A recent post from Realtor.com notes a similar trend:
“During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”
Some of the reasons is becuase inventory has slightly gone up, so buyers have more options. Higher mortgage rates have made it more difficult for willing home buyers to afford homes alongside new NAR rules and contingencies. The big secret but not so secret is... there is something you can do and control on your own. It's also where a lot of those sellers missed the mark. They didn’t work with the right agent.
If time is of the essence for your as a seller, you need to partner with someone like me who understands and comprehends this shifting market. I am your go-to person on how to strategize your home sale and let you know exactly what a qualified buyer is looking for.
Competitive Pricing: One of the most critical factors on selling your home quickly (if at all) is the right price. I will provide you with a competitive market analysis (CMA) to ensure your home is priced accurately and competitively for today's market. Keep in mind that your neighbor that sold his or her house five years ago will not necessarily reflect prices of today. As U.S. News says:
“. . . setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate . . . A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”
Well maintained homes that have great curb appeal and are updated tend to sell faster. If speed is a priority, make sure your house makes a great first impression. I will be a key resource on letting you know what current buyers are looking for. If your home needs fresh paint or staging I can consult you with these remedies. Ramsey Solutions offers this advice:
“In the spirit of selling your home fast, take care of things now that will be a problem in the closing process. Talk to your agent about fixes you’ll need to make to pass the home inspection, like: plumbing problems, roof damage, electrical issues, HVAC glitches. . . These are issues you’ll be expected to take care of before any buyers close on your house—you might as well get ahead of the game to help your home sell faster.”
If you want your home to have a competitive edge, I strongly advise you to offer concessions and incentives. Things such as, helping your buyer with closing costs, inluding a home warranty plan, or additional incentives (like appliances or furniture). These things can sweeten the deal for buyers. As your agent, I will let you know the right incentives to offer based on current market conditions and buyer expectations. This will close the sale much faster. A little investment can take you a long way financially and save you a ton of mental stress.