The real estate bubble may not be as lucrative as it was in 2021, but reports from TheAtlantic.com prove that this year is still a busy one for those looking to sell. To date, about 3.8 million homes are needed to satisfy demand from both buyers and renters. As a result of this, the median number of days that a property stays on the market is only half of what it used to be pre-pandemic. Because of this promising statistic, many homeowners are now actively selling their properties.
Having said that, because the market still remains competitive, it’s essential for sellers to employ clever and timely tactics in order to stand out. From adding home improvements to using virtual showings, here are some helpful tips that can help your property sell faster:
1. Invest in value-adding home improvements
While your property may already have great bones and a solid foundation, its curb value may be lacking. As such, it may be worth it to invest in valuable home improvements. As outlined by AskMoney.com, which covers real estate in-depth on its site, relevant home improvements can increase a home’s value by up to 80%. Some of the best home improvements you can opt for include the basics like a new roof and landscaping. If done well, a new roof can increase a home’s value by more than $15,000. Meanwhile, a beautifully updated landscape job can help a house sell for almost 13% more. Overall, this proves that the better your new and improved curb appeal is, the more valuable and appealing your property will be.
2. Price the property fairly from the start
Some people mistakenly think that they need to price higher in order to attain their asking price. But in reality, this will only turn off buyers. As per CNN Business, homes that are priced in the popular buyer sweet spot sell within only 10 days, on average. This sweet spot is anywhere between $250,000 to $500,000. Of course, prices will vary depending on other property aspects like amenities, size, and location. As such, you may need to adjust this range accordingly. Regardless, though, the more fairly priced your property is the more likely you are to actually gain the attention of serious buyers. Most people on the hunt for a home already have buyer’s fatigue and would prefer an upfront price that they can better review. Therefore, if you are able to price your home within the aforementioned range, you’re likely to close faster with fewer hiccups.
3. Always be accessible and show-ready
If your property is not easy to view, homebuyers are more than willing to find another property that is. As such, it’s important to always have your home show-ready and accessible. This means that you should offer showing options that are more convenient for the average buyer. One of the easiest ways to do this is to open your home during weekends. In recent real estate trends reports, showings held on Thursdays and weekends were among the most successful. On average, these showings resulted in the broker receiving an offer by the next Tuesday. Aside from this, you may also want to consider virtual showings. Research conducted by the National Association of Realtors reveals that 97% of homebuyers rely on the internet. Therefore, taking advantage of tech like 3D tours and video chats is a great way to reach more buyers.
4. Leave room for personalization
Though arranging your home to add warmth and personality is important, it’s vital to leave room for the buyers’ imagination too. Having said that, do try to keep your space decorated in such a way that buyers can picture how they’d personalize the space. This means moving away from any clutter and highlighting storage solutions. As a matter of fact, storage has been named by Forbes.com as one of the most in-demand home features for current home buyers. Depending on your property, this can mean a storage shed, a walk-in closet, a pantry, or simply built-in shelves. To really put a spotlight on these spaces, make sure to only fill them halfway. In so doing, you’re showing their usability but also literally leaving room for buyers to see how they can work with it themselves. When done successfully, your property will have a better chance of making an impression on buyers.
Given that the present real estate market is reflecting a lack of available homes for all active buyers, it’s a great time to sell. However, in order for you to really fast-track this process and take advantage of the present demand, it’s important to use clever practices that will put your home at the top of buyers’ lists.
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