Do you keep reading articles about the severe lack of home inventory while your home listing remains on the market months after you’ve listed? This could be due to many circumstances, some out of your control, but it is good to analyze what circumstances you do have control over. You can then leverage these options to help attract the right buyer.
This is a tightrope balance that needs to be set correctly from the list date, and you as the owner get final say in the list price. The price of your home needs to be analyzed and decided based upon comparable houses that have sold in your area. List a home too high, and you will scare away potential buyers. Set it too high from the beginning, and it can be difficult to recover the buyer’s interest when you are later forced to lower the price. Take a good amount of time and work closely with your agent, and their comparative market analysis, to determine the most appropriate list price for your home.
On the other side of the coin, you certainly don’t want to price too low, as it can make buyers dubious of issues with your home. Additionally, underpricing your home could take away your profits that you’ve worked hard to attain.
You may have your price set just right, but there could be specific issues about your home that are keeping it from selling. Take a look at it’s geographic location. Are you near noisy airports, interstates, or railroad tracks? What is the condition of the rest of your neighborhood? Are there foreclosures around your home? Is there a physical flaw apparent with your home giving potential buyers a poor first impression? If you can answer yes to any of these issues, you will need to adjust your price to compensate.
If you want to increase your curb appeal and therefore increase your buyer pool, here are some items to consider:
- Condition: Consider your house like you would consider a used car. What’s in great shape? What’s nearing the end of its service life? What will need to be repaired or replaced in the short term? Be subjective in this appraisal.
- Curb Appeal: Your home needs to be attractive to captivate buyers. You can’t control your neighbors home, but you can do everything in your power to make sure your yard and exterior are as attractive as they can be so those first impressions stick.
- Your Home’s Interior: You need to take equal care with the interior of your home as you do with the exterior of your home. Get out the clutter. Keep it clean. The buyers will know you live there, but try to keep it sparkling, and your personal item clutter to a dull roar.
Make your home feel like it could be their home and take care to make it shine during the listing period. Contact The Mayo Home Team today to schedule an appointment to determine the best price and change recommendations to consider before listing your home on the market.