Want to Sell Your Home? 5 Tools to Price it Right and Get it Sold!
Here on the North Shore of Long Island, we have seen a strong uptick in buyer activity…you probably haver read or heard stories in the media indicating things might be improving…here is the reality check. The number of houses in contract is up…the prices are NOT. So, if you are thinking of listing be aware that PRICE is still the most important factor in getting your house shown and sold.
Here are 5 things you can do to price your house right:
1. Go see what has SOLD…your agent will give you “comps” or comparables of homes like yours that have sold in the last 90-120 days. Ask your agent for details about them….then get in your car. A great agent will take you by each one and tell you everything about each house. Note the location, the condition and the property size for yourself. Why? Because the buyers do the same thing!!!
2. Go see the Competition…your agent will also give you houses he or she feels will be your competition if you list at a certain price. Again, a great agent will take you to a few homes priced slightly higher and slightly below and spot on what you are going to ask. Remember buyers are out doing the same thing and you need to think like a buyer. Make notes about location, condition, price. You are going to want to track which homes get a buyer response and which don’t….you want your house to look like the ones that get the response…which leads nicely into my next point.
3. Set a Home Prep Budget…discuss with your agent what is needed to prepare your home for sale…painting, repair work, new appliances, professional window washing or staging (more on this below). You are going to be asking for top dollar for your home and you need to set aside funds to get the house in top dollar shape. Small repairs can become big negotiating points or reasons to pass on your house. Talk to your agent about developing a to-do list that is within budget and makes your house show ready.
4. Stage Your Home…depending on the condition and contents of your home, ask your agent for a staging assesment. A professional stager may be the way to go, or simple changes may be all that is required. Discuss how to make your home stand out in today’s beauty contest environment.
5. Pick the right listing agent…the right agent is going to be realistic with you about the market and will be well versed on what has sold and not sold…and most importantly, why. That agent is going to educate you about the market nuances and activity in your area. While some agents may take your listing at an inflated number, a great agent won’t. Find the agent that educates you and makes you understand what is happening in your area. Make sure it is someone you can work with and who will market your show-ready home and its spot-on price with a full internet-based marketing strategy.
Today’s buyers are savvy. They have done their research and homework BEFORE they come to your home. They are ready to show how much they know about pricing in your area. You should be equally armed. Sharpen your pencil, do your homework and put a polish on your home. Great photography, a virtual tour and easy access for showings is what your agent needs to layer on to reach buyers, get their attention and bring them to your door.
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