Selling your home? How soon will it sell? Ten days? Seventy days? Three hundred thirty days? What factors can influence the time it takes to produce a serious buyer?
When listing your home, ask your real estate agent for the average sale time in your neighborhood. This can be determined by averaging the actual number of days required to sell other homes in the same area over a set period of time, say the last six months.
Let's say that average is one hundred twenty days. What can be done to speed up the time it takes to attract a buyer? Plenty. Three factors will affect the actual marketing time on your home: 1) price, 2) terms, and 3) condition.
If the condition of your home compares favorably to others currently for sale in the neighborhood, and you are offering comparable terms, your price may be adjusted to reflect greater value to prospective purchasers. Because buyers' comparison shops before making a decision, they will perceive greater benefits in your home at less money. This alone can cause buyers to compete favorably for your home.
Terms are another factor which may be adjusted to attract buyers. If your home is priced fairly at "market value", consider offering seller financing at a lower than market interest rate on a portion of the sale price. Flexible terms may attract an entirely new group of potential buyers.
Condition alone can sometimes prompt fast buying decisions from impressionable purchasers. Consider upgrading your home by making major repairs and cosmetic improvements before selling. A home that sparkles with pride of ownership can trigger emotions resulting in an instant sale.
The key to a shorter selling time on your home is to offer one or more unique benefits to buyers. Be creative and you may enjoy an even faster sale.