How Home Sellers Can Estimate Their Time on the Market

How Home Sellers Can Estimate Their Time on the Market


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Home SellersTiming is everything for home sellers when trying to sell your home.  After the for sale sign is in the front yard you don’t want to wait around forever for an offer.  But if you still need to find your new dream house, you might not want it to sell in a day, either.  

Is there any way for home sellers to estimate how fast your house will sell?  In fact, there are a few real world predictors that can give you a guess on how on your home will last on the market.  Review the guidelines below meant to help home sellers price your house right and know how long it will be on the market.  

Listing Price

Maybe the biggest decision home sellers will make is the listing price.  Real estate pros often say that the best time to get noticed is the first few days your property hits the market.

Take a look at the comparables in your area to get an estimated appraisal and then determine your goals.  Want a super speedy sale?  Price it right at or a little below market value.  If you don’t care how long it takes to sell, aim for a higher price.

Buyers look for houses in certain price ranges.  If you are priced too high, your target group of buyers might miss your listing completely.  Your house also might then be competing against well-priced houses in better condition, a bigger size or better location than yours.  Maybe even all three!  Typically after an over-priced house sits on the market for a while, you will eventually have to reduce the get a sale.

House numerology is another way you can make your house appealing.  Ending the list price in a 5 or a 9 is a good way to allow buyers to stay in their price range without giving up value.  

Believe it or not, more than half of all listings end in the number 9.  Ending the listing in a 5 is a way to bring it down a little bit so buyers feel like they are getting more value.

You can also look at the statistics for homes in your area to see how long they typically sit on the market to determine how fast yours will sell.  Looking at the listing-to-selling-price ratio will also let you know which houses are moving in your area.

Negotiations

If your list price is your best and final price, your home is going to sit longer.  Being reluctant to negotiate is the next biggest misstep home sellers can make after pricing too high.  A solid offer is nothing to disregard.

It can be helpful for home sellers to know what the price range buyers in your area are looking for.  Whether people are searching for starter homes or larger forever homes, if your house doesn’t match the desired property type for that area you can expect it to be on the market for a while. This might be true even if other homes are selling super fast.  

Finding the right price point and being willing to negotiate are keys in helping your house be the one on the market for the shortest amount of time.

Pictures Are Everything

Looking to sell fast?  Other than having great curb appeal and excellent staging, find a professional photographer to take your photos.  Great photos bring people into your home.  Buyers love good photos and professional photography can get people in the door. Studies have shown that profesional photos can help sell your home 50% faster than the homes without it.

When it comes to selling a home, home sellers need to do all of the little things correctly. There are many ways to prevent a home sale, but a just a few to expedite it. If you are planning on selling, make sure you are prepared.

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