All of the work you do to fixing your property up and getting it ready to sell will be thrown out of the window if you cannot sell in a reasonable amount of time. Not only is it important to sell quickly, you also need to be able to sell for the highest price possible. Many investors will rely heavily on their realtor and often let this part of the process take care of itself. The reality is that this is where you make your profits. If you can’t get your house sold ,it will cost you money every day. Fortunately, there are a few things you can do to ensure that the sale goes as smoothly as the rest of the transaction.
The most important thing you can do if you want to maximize your value and sell quickly is to price your property correctly. This means listening to the advice of your realtor and looking at area property data available. Many investors fall in love with their property and think that the amount of work they have done means more than what it is really worth. Buyers don’t know and really don’t care about how bad the property was when you bought it. All they will look at is how it stacks up to the rest of the houses in the area in its current condition. If you ignore the comparables and price your property too aggressively, it will end up collecting dust on the MLS and you won’t create the demand you are looking for. Buyers won’t even look at your property – let alone make you a starting offer if it is listed too high. By pricing your property right, you can attract interest and create demand that may lead to a bidding war. Buyers look at data when they look to buy. If you want to get top dollar, you should do the same.
Aside from pricing right, you need to know the area and your target market. By doing so, you can tailor any marketing to interested buyers instead of wasting time and money on people that aren’t really interested in your property. This means having an idea of what your property really is and what would make it attractive to others. If you know your house is small, it could be marketed as the perfect home for newlyweds or first time buyers. Conversely, if you have a higher end home, you and your realtor can put on higher end open houses or market to other realtors.
Knowing your properties strengths helps in getting the word out. Not every home is perfect and different buyers want different things. It is important to take an honest assessment on what makes your home appealing and focus on that. Little things like a fenced in yard or close proximity to schools make a huge difference to some buyers. It sounds primitive, but make a list of pros and cons about your property and highlight the strengths. Once you know what makes your home appealing, you can move to the next phase of finding a buyer and marketing your property.
Your realtor will certainly earn their keep in selling your house but this doesn’t mean you can contribute to finding a buyer. Your realtor can focus on finding a buyer through MLS & open house activity but you can focus more towards the internet. Something as inexpensive as buying a domain name for your property and running a dedicated website can have a huge impact. It is no secret that most buyers begin their search online nowadays and between social media and various real estate websites if you are not marketing there you could be missing the boat. Posting your property with pictures online can reach more people in one day than an open house could do in a weekend. Your goal should be to sell your house and not rely on your realtor to do so. If this means focusing online then that is what you should do.
In addition to pictures a short video tour of your property can be a valuable tool. You don’t need to have a professional mini movie but a video instead of still pictures adds something to any post. Pictures can sometimes be a bit misleading but videos will give a much more comprehensive idea of what the property really is. By including the front & back yard and a street shot it will save your buyers time and attract interest that may otherwise not have been there.
It is also important that your property is in the best condition possible at all times. This means staying on top of any yard maintenance, shoveling the walkways and getting rid of loose leaves. Depending on where you live you may still be in a buyers’ market and need to do everything possible to make a great first impression. You need to be proactive in finding buyers and stay on top of your property every day. What you will find is that the little things with buyers may not be so little.
Listen to the advice of your realtor and don’t be afraid to do your part if you are trying to sell your house. The longer your house goes unsold it will end up costing you money.