Even with today’s real estate market being advantageous to sellers, the amount of time takes to sell a home can vary greatly (ranging from a few days to over a year in some cases). As a seller, you have the power to influence this amount of time. Don’t just sit back and wait for it to happen — take action! If you’re a seller’s agent, you should set reasonable expectations for your clients as well as advise them on how to make their home as “show ready” as possible. Below are some helpful tips all agents should be providing to their sellers as they prepare to sell their home:
1. Make the necessary repairs — Why would you put your house on the market when things need to be fixed? Potential buyers almost always zero in on these defects. These problems areas need to be addressed right away. Don’t wait — fix that leaky faucet and replace that broken sprinkler head.
2. Adjust the price — Of course you want to get the most money you can for your house, but you have to be willing to budge. If your house is on the market after a reasonable length and there is no activity, you might need to reconsider the price. This is especially true if other similar properties in the neighborhood have sold at a lower price, or if your property appraises for less than the asking price.
3. Be flexible — You have to be willing to adjust your thinking based on the condition of the real estate market. If it is a seller’s market, you have more freedom to stand your ground — stay firm with your asking price, negotiate repairs, etc. If it is a buyer’s market, you need to work harder to attract buyers — lower the price if need be, meet all of the reasonable demands of the inspection report, etc.
4. Check out the competition — You should always do this to get an idea of what other homes are available. Your home is going o be compared to these properties. How does it stack up? Make some necessary adjustments to give your home an advantage — put fresh flowers in each room, put a fresh coat of paint on the wall, remove some furniture to create a more open living space, etc.
5. Create a good first impression — What is the first thing people see when they pull up to your house? The front yard! Make this area appealing to the buyer. If they don’t like what they see out front, it is going to be harder to sell them on the inside. Take the time and plant a new flowerbed, cut the grass and clear the walkway. A little work can go a long way.
6. Remove clutter – We’ve all accumulated more than our share of “stuff” over the years. If your house is still lived in, be sure to tidy up spaces and remove anything that isn’t necessary from the tops of dressers, nightstands, and countertops – including picture frames. You want the buyer to be able to envision themselves living in that home and making it their own.
Don’t let your client get discouraged if their house does not sell right away! One buyer is all it takes and that right person will come along eventually. If they follow your advice and do everything they can to make their home desirable, they should not have to wait long. Someone will see their house as their home and give you them an offer they can’t refuse.
Allied Real Estate Schools is here to help you with all your real estate training needs. Give us a call at (800) 617-3513 and we’d be happy to assist you!