Avoiding a Stale Sell
Know your competition!
- View active listings in your neighborhood at LEAST 1 month before listing
- Know your micro market’s average DOM and List price to Sale price
Do NOT try a higher list price at the beginning with plans to reduce later
- The first two weeks are the most important during a listing
- If you begin to reduce your home, buyers will wait for the next price reduction
- Don’t price your home at a higher cost based on your specific upgrade preferences
- You have loved those tile floors that you put in for $3000, but that buyer might not.
- If you purchased the upgrade 5 years ago then there will be a loss in value.
First impressions matter!
- When a buyer walks up to your home, their first impression will stay with them *Upgrading your elevation can be inexpensive
- Ask your realtor to give you multiple contractor contact information
- Most realtors have contractors that will give you a great price on a repair
- My painter will paint a 3000 sq. ft. home for $1300 – normally $3500
If you have interviewed and chosen a realtor then trust them
- A seasoned agent will have powerful negotiating skills
- You get more bees with honey at the start of the negotiation process
- If you are close in price initially then give them a win at the beginning
- You will still have to negotiate repairs.
- You are likely to win on negotiations once your buyer has financially invested
Do NOT ignore previously interested parties once you receive an offer
- This is the perfect time to let them know that they can still submit.
- Buyers will make an offer if they have the potential of losing a home
- This creates a multiple offer situation
- This will net you more money