For whatever reason that you have decided to sell a particular house, it will likely be one of the biggest deals that you will have to go through in your lifetime, especially if that is not your profession. It is tricky business and sometimes timing and luck will impact it more than you would like to admit it. However, it is not very wise to leave things up to chance.
If we are being honest, not even the best realtor out there, the one that has successful sales on his resume and ecstatic clients after every signed contract, can tell you exactly how long it will take. All numbers one can come up with are approximate, depending on a variety of factors that have to do with the real estate that you want to sell and the current economic situation.
We have consulted some of the best realtors out there at webuyhouseinarizona and got some insight into selling real estate and attracting prospective buyers.
Let’s dive into the matter at hand and explain which are some deciding factors, and to share useful tips that can help you in the process of selling.
Location is everything. As much as you have heard this, it is important to hear it again. Not only the location will influence the potential buyers in a subjective manner – whether they personally like it there and if it fits their lifestyle, but also, it will impact the price in several ways. First, some locations are simply better than others. You could get more money for a modest house on a prime location, than for a lavish one at a location nobody wants. Second, if many similar houses in the neighborhood are for sale, it might drive the prices down. It is simple supply and demand, as it will be discussed below. And last, not all locations have the same appeal for different folks, and that will make them value them differently. It is not a one-size-fits-all kind of thing.
Characteristics of the house
Not all houses have been build equal, so how fast you will sell a house (and how much you will get for it) depends on its size, appearance and features. These come in millions of combinations since the possibilities are endless. Some trends are usually followed with things like interior design, heating, outdoor amenities, etc, and the more up-to-date it is, it is more likely to sell faster.
Demand and supply
The economic situation has a massive impact of the time elapsed before selling a house. If the economy is booming, the chances are much greater that you will make a sale. If there is an ongoing economic crisis, or a global pandemic where people lose their jobs, it might be that much harder. Demand and supply are inversely correlated. Namely, if there is a big demand and a small supply, it will impact the prices and they might go up, but won’t change the fact that people will still want to purchase homes and a sale might be just around the corner. On the other hand, if there is a huge supply, and very little demand, your house might not sell anytime soon.
The house has to be spotless when people come over to see it. Nothing loses a customer as fast as a dirty and cluttered space. It will make it look forsaken and therefore, less attractive.
Any pet odor, food or cigarette smell is unacceptable. The house has to have the least amount of odor, or at least to smell fresh, even if that means the smell of fresh wall paint. Do not try to cover up bad odors by spraying air fresheners or lighting candles, as that might only worsen the situation.
If you will be doing some remodeling, it is for the best to stick to neutral colors. They will give the idea that the place is well-cared for, but that there is room for personalization. Also, there are greater chances that it will be appealing to most people, and that will translate into a larger pool of likely customers.
All the repairs have to be finished before you start showing people the house. There is nothing worse that tripping on a power cord, or touching paint that is still drying with any of your belongings. Actually, there is: the potential customers realizing the place they might be interested in is missing some important features or that perhaps it is not easily fixable, or fixable at all.
Don’t forget the landscape
The landscape can be a deal breaker for some people, as improving it is a huge project to take on. Therefore, make the best out of the plants you have around – trees, bushes and flowers – and plant new ones as soon as possible. The lawn is the first thing people see when they come up to the house, so keep it neat and… Well, as alive as possible. Most of the time, you won’t need any fountains or pools – just trim the grass, remove the unnecessary bushes and water the flowers.
Never hide things from the buyers or lie to them as they will eventually find out after they move into the house. Some can find out even before that. Then, they might sue you or ruin your reputation, and either of those things isn’t something you would like or need.
There is always room for negotiations. “No” doesn’t have to be a final answer, but rather something that will lead to finding an agreement that will work for all the interested parties. Compromise won’t make everybody happy, but you would have to be a talented or experienced negotiator in order not to split the difference.
Upgrades and renovations
Any improvements you’ll make may not increase the total value of the property, but they’ll increase the chances of getting it sold. When thinking of renovating before you sell, it is important to keep it simple. Make it decent looking, as there are chances that the potential buyers will not like it and the renovation itself won’t mean much to them. They usually notice the things that they don’t like, or the ones that need fixing, rather than your redecoration. Be reasonable when upgrading and remodeling before you sell. Of course, this depends on the exclusiveness of the house. Namely, if you are selling a luxurious home, you cannot go cheap when it comes to installing a new bathroom, or upgrading the kitchen appliances.