Why Some Homes Sell Faster Than Others
When it comes to selling a home, beyond the obvious elements such as location and size, there are many additional factors that can greatly affect how quickly a home sells. So, if you’re planning to list your home, take a look at these factors, first, to gain even the slightest edge over the competition to help your home sell fast. Let’s take a look:
- Curb Appeal Matters – According to a recent Zillow study, across the board, Realtors® named curb appeal the number one factor affecting the amount of time a home is (or isn’t) on the market. For many potential home buyers, all it takes is one look to determine whether or not they’re even interested on seeing the inside of a home.
- Good Quality Photos Are a Must – Homes that were marketed with professional photos sold faster in one Redfin study, and for $3,400 to $11,200 more than homes that were presented through amateur photos. For many listings, these photos are what potential buyers are going to see first, so make them count.
- Staging Is Important – Staged homes spend 73% less time on the market than non-staged homes, according to The Real Estate Staging Association. Remember, when potential buyers walk into your home, they want to see a cleanliness and order that can help them visualize the home’s potential.
- Price Appropriately – One Zillow study found that homes listed around or slightly below market value are almost 50 percent more likely to sell within 60 days than those priced 12 percent or more above market value.
- Provide Virtual Tours – Adding a virtual tour to your marketing strategy, especially in this day and age of advanced technology and go-go-go lifestyle demands, can decrease the sales time by 20% and even increase the price by 2%, according to a study conducted by Paul Carrillo of George Washington University. Remember, some potential buyers, like those from out of state, will be shopping strictly online.
- Modern Design Features Matter – According to one Zillow Digs study, homes marketed with the modern design features sell anywhere from 38 to 63 days faster. Some of these features include farmhouse sinks, subway tile, quartz counters, barn doors, shaker cabinets, pendant lights, exposed brick, frameless showers, stainless steel appliances and tankless water heaters.
- Provide Local School Ratings – Realtor.com found that homes linked to good schools sell faster and at a premium price. In one study, one in five buyers said they’d pay 6% to 10% above their budget to live near the right school.
- List as Move-In Ready – Homes that are and can be marketed as move-in condition sell 12 percent faster, according to The Wall Street Journal.
- Work with the Right Agent – As most of us already know, an experienced agent, who knows the market and has a network of potential buyers, can help sell a home 32 percent more quickly than an inexperienced agent. A recent study conducted by Dr. Bernie D. Waller of Longwood University confirmed this discrepancy in knowledge between hiring the right agent vs. hiring the first agent you find.
If you’re committed to helping your home sell fast, it’s important to keep these factors in mind, especially when enlisting the right agent. They are vital to helping you sell your home successfully and quickly. With the right agent on your side, then it’s all a matter of making a good, lasting impression of your home, both on the inside and outside, having an informed marketing strategy, and offering incentives as well as competitive pricing. If you do all of this, your home will stand out from the competition, and you’ll soon be on your way to your next adventure.