What does it take to sell a home in 10 days or less? Luck or strategy? Luck may help in some cases, but for the most part it is about the strategy. A good selling strategy must include the following: preparation, pricing, presentation and promotion and every one of these must be optimized to get the best result.
To hear how it is done, come to the Norwalk City Hall on October 10 at 6:30 pm in the Community Room for an informative presentation by the Mid-Fairfield County Association of Realtors.
If you miss the presentation you can request copies of the complimentary handouts. A preview of what will be discussed:
Prepare, prepare, prepare. Getting a home and a seller ready and prepared for the market is the first step, and a critical one. There are many things a home seller can do to avoid costly mistakes and delays. We give you a list of 15 things to do that will optimize the marketing process and contribute to a stress-free transaction. Many items on this list are things that will need to be done when moving, and doing them now will make the moving process that much easier. Request complimentary copies of “Preparing Your Home For Sale” and/or the “Moving Checklist”.
Pricing is paramount. There is no exact science to pricing a home, but you can increase your chances of getting it right by using every tool available. Have at least 3 Realtors prepare a Current Market Analysis (CMA). There is no cost and 3 opinions are better than one. Third party resources (Zillow, Redfin) offer tools to determine a home value but values are calculated using algorithms and a variety of on line sources, not by viewing the property. Accuracy can be up to 40% off so additional information is always needed. Appraisals are another option. There is a fee, but it is an option worth considering. Any buyer requiring a mortgage will need to get a formal appraisal for the lender. It is a similar process to the Realtor CMA but more mathematical and good information to have. Once you have determined a market value, use this chart as a guide for pricing effectiveness in attracting buyers.
The next step will be presentation. The last thing a seller wants to do is spend money on a home they are selling, but a few dollars invested in presentation is a good investment. Home staging may seem like an unnecessary expense, but it is much less costly than a price reduction if the home is not selling due to presentation. When your home enters the market, it will be competing with other homes in the same price range. Think of it like a job interview. You wouldn’t show up ungroomed in an old suit. You would be eliminated and only help make the competition look good. It is the same in the housing market. There is a lot of competition. Buyers look on line first and photography is important. A home must be staged to get good photos for the on line presence. Staging companies offer a wide variety of services, and the National Association of Realtors provides a comprehensive report on the ROI of staging a home for sale. It is always worth it. Download the NAR Home Staging Document here.
Finally, once you have the price and the home is properly prepared, you will want to promote it everywhere. Yard signs, Realtors and the internet are your best ways to connect to a buyer. See the chart below to see where buyers come from.
Be as flexible as possible with showings and open houses and make it as easy as possible for buyers to view the home. Having your home on the market is not a fun process, and you want to make it as quick and efficient as possible so you can move on with your life and plans.
For more information on “Selling Your Home in 10 Days” or to know the value of your own home, call or text 203-246-9065 or request a personal home evaluation here.
Hope to see you 6:30 pm on October 10 at the Norwalk City Hall.