You may have had your home on the market before, and it didn’t sell. Below are two main reasons why and a few tips to help you sell your home.
Your Home Was Not Accurately Priced. It’s true that some properties are harder to price than others. However, getting the price right from the beginning is critical, because You don’t want to chase the market, you want to be in the market. Well priced homes sell sooner, and the sooner your home sells, the more money in your pocket.
The National Association of Realtors state that:
If you are not getting any showings, you are probably 10%-12% off on your price.
If you are getting a low number of showings, the price is probably off by 6% to 12% .
If you are getting showings but no offers, you are 4% to 6% off.
In today’s market, you need to be priced BELOW fair market value in order to generate interest. There are so many homes you are competing with right now, that you need your home to stand out from the crowd. Price competitively, create excitement, generate multiple offers and sell over list price!! That’s creating a sellers market within a buyer’s market!! The end result is what you are looking for, you get your home sold.
Lack of Staging. Staging and decorating are two completely different things. Your goals in staging are to outshine the competition, appeal to the masses and allow the buyers to envision themselves living in the space. Decorating your home is personal to you and your taste.
Here are a few simple tips for staging:
De-cluttering is the first step. Most people are emotionally attached to their homes because of all the fond memories and are usually unable to make an objective decision about which items should remain and which items will need to be boxed up and stored.
Furniture placement is critical as well. It is important to make sure larger pieces aren’t impeding the view into a room and that furniture is placed in a way that makes it easy to get around.
Personal pictures should be removed so that the buyer can imagine their family living in the house. It also helps keep buyers on task while they are in your home, instead of trying to figure out if they know any people in the pictures.
Organize closets and the pantry. Buyers feel that a well organized home equates to a well maintained home.
So how does your house measure up? To sum it up, our current market is a pricing war and a beauty contest. Remember, you only have one chance to make that first impression.