Getting ready to sell your house won’t be as straightforward as it seems. Despite renovating your property until it looks like a cut-out from a magazine, there are many factors that prevent you from reaching the value you desire. Additionally, the following factors play no part in crunching the numbers for your house to sell:
Buyer’s budget
Asking price on MLS listings
Sentimental value
Three things that can determine this: what the seller, buyer, and professional appraiser think it’s worth. The underlying factors that influence this decision are what you need to help you prepare to sell your hard-to-sell home. Here are things you should consider:
1. Choose the Best Comparable Sales
When you’re a seller to reach a good value for your home, the best way to achieve an appropriate amount is to compare the price range of similar homes in the area. This will enable you to reach a win-win scenario between the buyer and you. You can ask your agent for more details, such as the size and amenities to help you paint a clearer picture of how the amount came to be.
You need to consider why the comparables at a high or low price despite its similarities. May it be through an emergency, inconvenient location, rare installment of amenities, and the likes. Nevertheless, it all boils down to these elements that make or break an accurate comparison: the location, amenities, and age of the house.
2. Dig Deeper into the Home’s Value
You can ask for it from your agent, but assessing the value of a house is best done by a certified assessor or the combination of your agent and an assessor. For one, it is an agent’s responsibility to compare other properties in your area. Additionally, they can use other factors such as the current market conditions, maintenance cost, depreciation, home improvements, neighbourhood, and size to achieve an accurate estimate.
3. Find Homes in the Local Market
The properties within your area and prospective buyers in the market largely influence the value of your home. It will fluctuate even when the house you’re looking at is in mint condition, the best possible location, and contains premium upgrades.
When a market has few buyers with many homes still waiting on the line, it leaves more room for you to negotiate on the home’s price. This will take longer to sell; likewise, a seller’s market is where houses tend to sell quickly.
4. Build a Buyer’s List
A buyer’s list is an essential component for sellers as it allows them to connect with various buyers within the area. Having the right connections can help you tap into a high-traffic market, one that is eager to buy a property so long as it has favourable features.
5. Offer a Warranty
If you’re selling a property that isn’t hot in the market due to uncertainties, offering a warranty will help eliminate the buyer’s hesitations. This is because it will provide peace of mind for interested prospects, especially when you agree to cover unexpected ‘surprises’ for a predetermined period of your choosing.
The Bottom Line
Selling in a tough, buyer’s market requires a long game marketing strategy. This involves utilizing tactics like listing with multiple MLS services, sending out e-flyers to buyer’s agents, or getting in touch with top-notch agents that can keep your listing active.
Either way, selling a house is no walk in the park no matter the circumstances. However, with the right mindset and strategy, you’ll be on your way to getting the best offer even in a highly-saturated market.
If you’re looking for a Real Estate Agent in Windsor, get in touch with us today! We’re happy to help find the perfect property for you.
