Are you in the league of people who wish to sell their house? You have moved into a new house but your listing of the old house is still pending. It is frustrating to invest your considerable time in selling your old property after you have genuinely tried selling it. Many sellers also try to tap on the location of the house. They see it as a plus factor in obtaining a good listing for their property. But we must understand that though the location plays an important role, it is not everything. Follow the below-mentioned points and try to incorporate them while selling your old house.
1st Thing: Price it Right
It is often said that “Set your basics right and rest will follow”. This is the case with the price. You must not list your house at a price which is exceedingly higher than the other houses in that segment. Doing so, you will miss out on the buyers who are looking for the house in a particular price range. Also, now you will be competing in the market with the houses, which are better than yours in all aspects. You must analyze the true value of your house, by comparing the similar listings in the market and then only list your house. Many times, accepting a cash offer from an investor is a great solution for selling your house immediately.
It is often seen that the listings which are priced in the vicinity of their actual value tend to have more chances of selling within the first 60 days. There are times when people are so attached to their old house that they tend to term it ‘priceless’. By terming priceless they expect it to sell at a higher rate than the same houses in that segment. This should never be the case. No doubt, your old house will always go to have a special place in your life, but while selling it, you must be realistic in a sense that it is a simple business. Analyze well the appraisal value of your house. Invest time in it.
2nd Thing: Willingness & Skills for Negotiation
Being too rigid on the price and condition set forth by you will leave you waiting for a longer duration in selling your property. The willingness to negotiate the price in an intelligent and informed way will be beneficial for both the buyer and seller. There must always be a mutual agreement on the price, which will benefit both the parties. This entirely does not mean that you sell your property at a price which is way less than what it is valued in the market. There are various ways by which you can measure the value of your house.
Several companies give you a fair estimate of the value of your house by studying the condition of your property and then matching it with the other similar properties in the market. You can also calculate the correct price of your property by doing a basic market research. Further, do expect a negotiation and be flexible enough to accommodate it, within a set price parameter.
People who set the price of their house at much higher price than its market value and also are unwilling to negotiate, they often have to wait a long time to sell their property. If you are confident about the listing of your house and you are also willing to wait for a considerable amount of time, then you can take your chance. But if you wish to sell as soon as possible then be ready to negotiate and do it in an informed way.
3rd Thing: Take the Best Photographs
The first thing buyers look on the internet is the photographs of the house. It is said that often, the first look of the house in the photograph can compel him to buy the house. The good professional photograph is always a plus while selling the house. You must have at least 20 photographs from every angle clicked professionally. There should be a good trade off in the number of photos, as too many or too less both can go against you.
Although it is always safer to have too many photos to give a clear sign of transparency. But keep in mind to not have less than 9 photos. It is seen that the listings which have photographs less than nine, takes a good amount of time to get noticed. The number of photos can also depend on the size of the house; therefore, this makes the quantity of the photos relative. Also, it is quite essential to have a good quality of photos, and if necessary hire a professional photographer to take necessary photographs for the listings. If you do not wish to hire a professional photographer, then it is recommended to click photographs from a good camera which gives good depth in photographs.
4th Thing: Some Market-Based Mathematical Calculations
Though there are many resources to sell your house fast, it is always a good idea to do few basic calculations before selling your property. At least the rough estimate about them will help you decide the price of your house in an informed way. First is the inventory levels of homes. The inventory of the home is the list of all contents of your home. It is often observed that the houses which have lesser inventory are likely to sell quick. Therefore, it is always a good idea to keep the inventory of your house low. The houses which have huge inventory take a longer duration to sell.
Second is the median sales price which is calculated by estimating how much time a similar listing in your neighborhood or locality takes to sell. This gives you a rough estimate on how much time your house will take to sell. If the price of your house is listed above median sales price, then it might take a longer duration to sell, if it is below it then it might sell soon.
The third is Percentage of list-to-sales which describes the closeness of the prices set by sellers to the value buyers is interested in paying. If the ratio is greater than 100 percent then the house is likely to sell at higher price, and if the ratio is less than 100 percent, then the house will sell at the lower price set by the seller. Actual figures may vary, as there are other non-calculative factors such as location which can make a considerable impact.
It is always a good idea to estimate the value of your property based on above parameters as it gives you a fair amount of idea of the actual value of your property.
5th Thing: An honest approach to your sale strategy
There should be nothing which must be kept hidden while selling the listing. There are many occasions where people don’t mention the exact reason for selling the house in next 90 days, owing to their personal reasons. As a result of which they don’t mention the ‘time’ in their listings expecting that it will surely sell. When several days’ pass and they see no substantial progress in this direction, they start to panic.
Therefore, please mention honestly the number of days in which you wish to sell as it will make the buyers make up their mind according to the time mentioned. An honest approach is a well-defined transparent approach, which allows the buyer to be informed about all the limitations and advantages of the house. Also, it is important to spread the word beforehand to your near and dear ones, that you are planning to sell your house. There are many people who are not looking on the internet for listings. Just the whisper of information on their ears will be enough to make them take necessary action. So do not be shy in spreading the information of selling of your house.
Conclusion
Your old house will always be special for you. You have so many memories attached to it. But when it comes to selling the house you must set aside your emotions and concentrate on doing a pure business. You must take a really well-informed decision. Many time people either depreciate the price of their property or alleviate it, based on their biased assumptions with it. You must properly analyze the market value of the house by comparing the price of the similar properties. Also, we must not shy in spreading the word about selling our property. Use social media networks, your contacts, general bulletin boards of your office and etc. It is seen that often people get the best deals from the least expected direction.
Honestly listing about the limitations of your house, in terms of location, drinking water supply, insurance and etc. will help the buyer to take a well-informed decision. Do remember, if you are looking to sell your house within a stipulated time, then please mention the ‘time’ in your listings. Do not expect it to sell with a snap of a finger. Clearly listing out the duration allows buyers to respond quickly and you will be in a position to discuss the matters well in advance.