Why some houses sell faster than others
Do you ever wonder why some homes sell faster than others?
Every San Diego house can sell. What makes the difference in how quickly a home in San Diego sells and the price you get for it, comes down to how prepared your house is to be on the market. While all of these are strong suggestions I make to all my San Diego home sellers, they are only suggestions. If it seems like too much work, offer you home at a slightly lower price and you can save a lot of time and hassle!
San Diego home buyers are spending so much on a homes, that they are looking for either a good deal, or a move in ready home.
Let’s take a look at some of the top reasons some homes sell fast and for top dollar, and others sit on the market.
YOUR HOME IS OVERPRICED
This is probably the single biggest reason why your home is not selling. Overpricing your home even a little can have long lasting effects that will make your home languish on the market.
Setting a sale price for your home is tricky business. You want to get the maximum possible return on the sale without alienating potential buyers with a too-high price. Many home sellers also mistakenly think padding the price of their home gives them an opportunity to negotiate down toward a more reasonable selling price.
While this may seem logical, your initial high price may be driving away potential homebuyers put off by your over-valuation of your home.
They may think your home is simply out of their price range, or that you are being greedy or unreasonable in your thinking.
Homes sell for what a home buyer is willing to pay for it. Price your home based on fair market value determined through homes that have sold near your home.
YOUR LISTING AGENT IS NOT A GOOD FIT
In today’s San Diego real estate market, there are many agents to choose from. Oftentimes, home sellers choose the agent gives the highest price they could sell your house for. While that sounds good, it is important to look at your home’s comparables, and the strength of the agent’s marketing plan. The agent told you what you wanted to hear, not the hard truth. This is a practice called buying a listing, where an agent over inflates the suggested list price of your home to get you to sign the contract.
The second reason is the home seller will enlist a family member or friend to list their home. Real estate is a serious business with a lot of money at stake for everyone. Hire the agent with the most extensive marketing plan, including online marketing, professional photographers and video. That real estate agent who has the best marketing plan may not be a family member or friend.
When it comes time to hiring a San Diego real estate agent, hire the agent with the best marketing plan, market information and excellent communication…. not the agent that gives you the highest number for your house.
FAILURE TO PREPARE YOUR HOME
This is a big one as the San Diego is seeing an increase in inventory in homes for sale. Properly preparing your home for the market can be the thing that sells your home faster than others. Many of the homes that have sold very quickly have taken weeks and even months to prepare their homes and are in tip top showing shape.
You can easily turn off buyers by not preparing and staging your home. Basics start with a good cleaning, decluttering and depersonalization of your home. Our team also offers home staging services to our sellers and your home may be competing with professionally staged homes.
Getting top dollar is important to most people who sell their home. Dated decor and homes can reduce the appeal of your home to potential homebuyers. Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the hardware in your kitchen is a great way to modernize its look without spending a lot of money. If you have old, stained or smelly carpet, it should be removed. In fact, this may be a bonus as you could uncover lovely hardwood underneath the carpet.
Before listing your home do the necessary repairs. Today’s buyers are spending so much on a home they don’t want to be saddled with thousands of dollars of repairs shortly after moving in. Today’s home buyers in San Diego are looking for move in ready homes. If your home is not move-in ready, buyers may either pass, or make a low offer.
NOT MAKING YOUR HOME AVAILABLE
Showing your home is inconvenient. But, you need to make your house available and if possible show in a minutes notice.
Remember a homebuyer’s schedule may not match your schedule. Be as accommodating as you possibly can. You have to show your home to sell it.
FAILURE TO PROVIDE TOP NOTCH REAL ESTATE PHOTOGRAPHY
This seems like a no-brainer, but I still see many million dollar listings that have cell phone grade photos. Your home has to stand out on the internet, and the only way to truly do that is with professional photography. Failure to provide top notch photos is going to put you at a disadvantage over the competition. Home buyers now are making so many decisions online before ever stepping into your home.
Remain flexible and sit back and think before making decisions. It is easy for a seller to get cocky in a seller’s market. But as an agent I can tell you if you dig in your heels over $500 or a $1000 dollars in price negotiations or homebuyer’s home inspection repair requests, you will probably regret it down the road.
As a rule of thumb your first offers are generally your best offers. These are the home buyers that are educated about the market and have felt some pain. They are ready to buy.Remove the emotion and carefully consider the scenarios.
The Truth Can Be Hard
As a listing agent in San Diego sometimes I have to deliver hard truths about to a home seller. While you may not want to hear it, your listing agent owes you honesty. Often home sellers are unrealistic about price, or the home is not as clean as it should be, or did not complete the home repairs suggested. It’s not easy to deliver the truth, but without it your home could fail to sell.
Honest, open communication is key between a home seller and a listing agent. You need to have an agent that isn’t scared to tell you the truth and will back up what they say with data. When you meet with agents feel out how they are at communicating and presenting all the facets that go into selling your home.
I help San Diego home sellers and home buyers find the right home by marketing homes correctly and negotiating for a successful sale. Guidance and communication are the foundation of your home selling for the most amount of money.
Contact me any time to discuss what you need to do to prepare your home for sale today.