Listing your home? Remember: Even in a seller’s market, houses still aren’t guaranteed to sell.
Here, Forbes offers a few best practices that can keep a property from sitting on the market, or even worse, not selling at all.
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Price it just right
Never overprice your home. Research properties in the area that have sold recently, and be sure they are actually comparable (for example, don’t compare a fixer-upper with a newly remodeled house). Determine how long local listings usually are on the market, and then adjust your expectations accordingly. Keep your eye on what else is on the market at the same time as your listing—if there is another home that is seen as a better deal, your listing will look less desirable. Although a seller always wants the highest price possible, listing for a lower price and letting buyers bid the price up in competition also could be a good strategy. Listing at a lower price is common practice in competitive real estate markets such as L.A. This approach often ends up getting more exposure on the listing, since it will show up on more homebuyers’ online feeds.
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Take beautiful professional photographs
Present your residence at its best by keeping it clean and uncluttered, and then take clear photos that will show the home in its best light. Most buyers begin their home search online and can form an attachment to a property before then even see it in person. Bad photos, or no photos at all, can completely eliminate interest. There are inexpensive ways to spruce up your house to make it look more appealing. Pointing out all of the positive aspects of the home in the listing (such as the features, upgrades and location) also is key.
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Be open to negotiations
Always keep an open mind when selling your home. A buyer may come in with a low price or not-so-great terms on an offer, but never write them off completely. If the buyer wants the house, they likely will be open to negotiating. If the offer is rudely rejected, the buyers may not want to work with the seller or their agent in the future at all and may not revisit an offer even after the home has been sitting on the market. Although it’s important for buyers not to submit ridiculously low offers, it’s also important that the sellers not be offended and to see if there is some reasoning. In competitive real estate markets, offers most likely will come within the first two weeks of the listing becoming active. Serious buyers already are searching and seeing new listings as they come on the market. Be sure the home is available and presentable right away for showings. In addition to listing the home in the MLS, be sure to spread it to as many potential buyers and local agents as possible.