Watching your house wait to find the right buyer can take time, but there are a few secrets to make your property stand out and attract the perfect match. According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years. As our team studies our local market trends, we are seeing that in Lake, Geauga and Cuyahoga counties as well.
A recent post from Realtor.com notes, “During the week ending September 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”
There are a few things that are out of your control – housing inventory has gone up, giving buyers more options and higher mortgage rates have slowed demand over the past two years. But here’s the secret: there are some things you can control! This is where some sellers have missed the mark, they didn’t work with the right agent.
No doubt about it—with the right plan and a great agent by your side, your home can still sell quickly, even in today’s market. If selling your home quickly is high on your priority list, you need to partner with an agent or team of agents that understands the shifting market (like the Forsythe Group!). We will be your go-to resource on what buyers are looking for right now and how to position your home to hit the mark.
Here are a few things our team will walk you through. They may seem simple, but these are the things that can make the difference!
1. Competitive Pricing
This is one of the most critical things to make your home sell quickly! Our team does a competitive market analysis (CMA) by reviewing sales and current listings in your neighborhood/area. We use this data to make sure your home is priced accurately in today’s market. We have found this to be the best way to hit the sweet spot on price.
Without the right competitive pricing, U.S New says, “ selling an unrealistically high price with the idea that you can come down later doesn’t work in real estate… A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”
2. The Home’s Condition
First impressions are important! Homes that are well maintained, have great curb appeal, and are updated with modern finishes tend to sell faster. If speed in selling is a priority, be sure your home makes a great first impression. Our team can help with staging that is worthwhile and what repairs you may want to tackle before you list.
3. Incentives & Extras
If you want to stand out from the other homes on the market today, offering incentives or concessions, like help with closing costs or a home warranty can sometimes sweeten the deal for buyers. Our team can suggest the right incentives to offer based on current market conditions and local buyer expectations.
The bottom line is a home selling quickly in today’s shifting market requires a strategic approach and an understanding of what buyers want. Forbes says, “When time is of the essence, you can’t afford to take a chance on an inexperienced housing professional. Instead, you’ll want to work with a real estate agent who knows your market and has helped sellers in your situation before.”
Our team has over 4 decades of experience and would love to use that experience to help you reach your real estate goals! Contact us today to make sure you’re set up for success!