Aside from selling their home for the highest possible price, most sellers would agree that selling quickly is probably their next priority. Any good real estate agent will tell you that selling fast is key if sellers are looking for the highest price, as a home that sits on the market for too long will inevitably lose value over time, and have to be re-priced accordingly when the home is listed again.
But what are the key factors required if home sellers want to sell quickly? Are there any hacks that will aid this process? In this article, we’ll explore five important factors that home sellers should remember if they want to sell quickly, and at the right price.
1. Start with the Top Performing Real Estate Agent in Your Suburb
It goes without saying that enlisting the services of a real estate agent you can trust is a cardinal part of the home-selling process. While many home sellers may feel unwilling to pay the commission real estate agents charge for their services, they often don’t take into account just what they are getting for this nominal fee – and how being hesitant to pay real estate agent’s commission may actually cost them more in the long run, considering the many varied services that these gurus of the property market offer.
Real estate agents don’t only help home sellers to advertise their property and bring around interested potential buyers to come and see a home, but also help with a few critical aspects relating to the sale of the home. First off, real estate agents help sellers to set the correct price on the property. Don’t be fooled – what seems like a simple exercise can be detrimental to the sale of the home. Real estate agents know how the property market that they do business in operates. They understand what the market is like at any given time, and have a good idea of what properties that are comparable to the one that is being sold ultimately sell for in a given city or suburb.
To determine an asking price that is both fair to sellers and in line with market conditions, but also guarantees a profit for the home seller, real estate agents will do a comparative market analysis of the property. This analysis considers the interior and exterior features of the home.
Furthermore, real estate agents help sellers to market the property as widely as possible, making use of the ample platforms they have to do so. Agents can also negotiate the terms of sale with the buyer on the seller’s behalf, and their role as an objective bystander in the sale of the property (albeit one that still wants to make a decent commission on it) is invaluable to sellers, who may become sentimental about the property – something which can cloud a seller’s judgement around the negotiating table.
Selling a property without a real estate agent that knows their stuff is worth far more in profit than the commission an agent earns on the sale. Finding an agent online is as easy as contacting Perfect Agent – our list of qualified and experienced real estate agents in your city takes all the hassle out of finding an agent that can help you sell quickly, and at the right price.
2. Be Smart About the Listing Price
As mentioned in the previous section of this article, setting the correct selling price on the property is very important. If the price is set too low, the seller loses out on significant profits, but if it is too high, chances are that the home is likely to spend more days on the market, and may have to be relisted altogether.
Comparing your own property with similar homes in your suburb or city will give you a good idea of what you can expect to fetch when the property is sold. A comparative market analysis, done by a seasoned real estate agent that knows their market, does exactly this.
Keep in mind that there are many factors that might influence the asking price of the property, including its overall state, its location, the amenities and schools in the area, as well as the economic factors that are at play at a given time.
Even if many sellers think it is better to set a price that is high enough to leave room for negotiation with the buyer, this isn’t always the case. Most buyers already have a ballpark figure that they are willing to pay in their heads when they start home hunting, and will keep their eyes peeled for something in that price range, so you might well be missing out on potential buyers who are simply not looking to negotiate prices down. Also, homes that are priced significantly higher than comparable properties in the city or suburb tend to go stale due to a lack of interest from buyers. This is the last thing you want. If you aren’t sure if the price you have in mind is right, consult with your real estate agent to get their opinion.
3. Presentation Is Everything
First impressions last, states the adage, and this is, of course, also the case when it comes to selling property. The way a home is presented is key to attracting attention online, which is why it is crucial to make sure that your listing stands out among a sea of others.
The first step to creating a listing that pops is getting a professional property photographer to take the pictures used in your online listing – ask your real estate agent about a photographer that they’d recommend for this purpose.
Another key aspect to helping potential buyers imagine themselves in the space is to stage the home correctly. Often disregarded (to their own detriment) by sellers, staging the home correctly will go a long way in creating interest among buyers. This means getting rid of any sentimental, political or religious regalia, and reworking the décor into something that might appeal to the largest group of potential buyers. Stick to neutral colours and rather put away the strange knickknacks that you’ve acquired on your travels. When it comes time to move, you’ll be grateful that some of the packing has been done.
4. Keep Up with Current Technology
In the modern era, the fact of the matter is that a classified ad in the local newspaper simply won’t cut it if you are looking to sell quickly. Luckily, there is a myriad of other options available to the modern home seller today. Home sales have gone online, and the norm is that most buyers start browsing for their perfect home in the online sphere before venturing out to actually go and view houses in person.
This is why it is so important that your online listing shines. Ask your real estate agent which online marketing avenues they will follow when advertising your home to potential buyers, and make good use of each one. Confirm that your online listing will also be adapted for viewing on mobile devices, as this has become the go-to approach to viewing property online for most prospective buyers.
While online marketing is of the essence, don’t disregard the role of traditional word of mouth marketing – the grapevine still has an important place, even in the 21st century.
5. Advertise on Social Media
As of January this year, there were approximately 15 million active Facebook users in Australia – that is a whopping 60% of the Australian population. Speaking of word of mouth, don’t hesitate to post to your personal Facebook profile, letting your friends know that your home is on the market.
Your real estate agent will probably also use Facebook in their marketing efforts, utilising the social media platform to get the word out to people who are actively looking for a home.
Make sure to also share the online listing that your real estate agent puts on Facebook and other social media platforms. These platforms are a treasure trove of potential buyers and if your online listing is already eye-catching, you can be sure that buyers won’t scroll past without noticing.
Selling a home quickly isn’t impossible – it’s what makes the world of real estate go around. Home sellers should remember that a home which sells quickly is also probably a home that fetches the price they were aiming for.
For this reason, home sellers should make sure that the price they list for is one that is attainable, but also fair to themselves. Most listing that go stale are at least partly because of prices that are too high, while prices that are too low could see sellers not pocketing as much profit as they could have.
The way the home is presented to potential buyers – both online and when they come to see the property in person – is another crucial factor that sellers should not disregard. Once an online listing that stands out has been created, sellers should make sure that the word gets out on the modern incarnation of the grapevine – Facebook and other social media sites are marketing platforms in their own right and should be treated as such.
But what is most important if home sellers need if they are looking to sell quickly? A real estate agent they can trust does all the legwork for sellers, and is an indispensable part of their selling journey. Still looking for someone to help you sell? Contact Perfect Agent today!