How to Improve the Selling Time
Selling your home? How soon will it sell? Ten days? Eighty-six days?
Three hundred thirty days? What factors can influence the time it
takes to produce a serious buyer?
When listing your home, ask your real estate agent for the average
sale time in your neighborhood. This can be determined by averaging
the actual number of days required to sell other homes in the same
area over a set period of time, say the last six months.
Let's say that average is one hundred twenty days. What can be
done to speed up the time it takes to attract a buyer? Plenty. Three
factors will affect the actual marketing time on your home: 1) price,
2) terms, and 3) condition.
If the condition of your home compares favorably to others currently
for sale in the neighborhood, and you are offering comparable terms,
your price may be adjusted to reflect greater value to prospective
purchasers. Because buyers comparison shop before making a decision,
they will perceive greater benefits in your home at less money.
This alone can cause buyers to compete favorably for your home.
Terms are another factor which may be adjusted to attract buyers.
If your home is priced fairly at "market value", consider
offering seller financing at a lower than market interest rate on
a portion of the sale price. Flexible terms may attract an entirely
new group of potential buyers.
Condition alone can sometimes prompt fast buying decisions from
impressionable purchasers. Consider upgrading your home by making
major repairs and cosmetic improvements before selling. A home that
sparkles with pride of ownership can trigger emotions resulting
in an instant sale.
The key to a shorter selling time on your home is to offer one
or more unique benefits to buyers. Be creative and you may enjoy
an even faster sale.