What causes a property to sell?
Besides location, studies say the way a property appears and the way it’s priced are by far the two biggest determining factors that cause a property to sell. Yet, too often we see people overpricing and homes that just do not show well.
- Staging & Presentation: When potential buyers look at your home, first impressions are key. A properly staged home will separate itself from the competition. Studies by the Real Estate Staging Association found that homes staged before listing received an offer in just 23 days on average. That’s 90% faster than those who waited months after listing to bother staging. Don’t want to hire someone to stage? Maximize each space with what you have to work with. De-clutter and de-personalize as much as possible. I always recommend a minimalist approach (think model homes). Still have that ugly paint? Your walls are the largest visible surface in a home and a fresh coat of paint is the most inexpensive way to enhance the look of a space.
- Pricing: Truth = The market determines price, not you or I. Your home is only worth what someone is willing to pay for it. I know, I love my home too and think it’s worth more than what it really is. Don’t make a mistake of overpricing and have your home stay on the market longer than it needs to. When determining price, it is important to consider recent sales in similar areas, similar sizes, similar attributes (good and bad), and properties that are currently listed.
When it comes to selling your home, HEAVILY consider these two elements and if executed properly, I know from experience, you will reap huge rewards.