Let's face it, every home seller wants to close the deal in record time and for the best return.
But while that's a given, sometimes every minute really does count. A typical example would be when a job move is imminent or if, for any reason, a delay in changing home is simply not an option.
So today, we'd like to focus on three big mistakes that Albuquerque area home sellers in a hurry simply cannot afford to make, as any of them risks losing a sale, or simply not attracting any interest in the first place.
Set an uncompetitive asking price - While it's never a good idea to price your home above the competition, clearly it's even more critical if you need to attract serious interest quickly, because there often isn't the time to realize your mistake and drop the price. That doesn't mean to say that your price should initially be lower than others to sell fast, however. Here's where recruiting a successful agent is vital, because he/she will have detailed knowledge of what homes like yours are selling for in the area. This means that your home will priced to reflect up to the minute market trends from the get go. The really good news here is that there is still a shortage of available homes in the area and high demand, but that doesn't mean you can start with an unattractively high price and hope to sell fast. The clever strategy is to price the home in such a way that it accurately matches what other similar properties are selling for, in order to get people viewing quickly and encouraging multiple offers. Why not take a look at our last blog that was dedicated to dealing with multiple offers.
Overestimating buyer loyalty - We've just mentioned that buyers often don't have a great deal of choice at the moment. That doesn't mean to say that they have no options however. And even if they can only find two homes that fit their needs, well one seller is still going to lose out, of course. Therefore it's a big error to think that buyers who have said how fantastic your home is will make an offer, or that anyone who hasn't shown up for a viewing will reappoint. Here's where the right agent will stay in contact with the buyer to try and set another date or encourage that an offer is made before the home is sold to someone else. And it's also not certain that buyers who have made you an offer that you haven't accepted will come back with an improved one. The key in today's market is to attract enough interest in the property that you aren't relying on a single buyer and are in the driving seat with the potential of receiving competing offers. While this strategy holds true for all buyers, it's arguably even more relevant to those in need of a fast sale.
Getting too involved - Naturally enough, when time is of the essence, there's a tendency to overdo things and get very involved in the selling process, so you can feel as if you've done everything in your power to make it happen fast. Unfortunately that can lead to you getting too involved. A good example of this is to insist on attending viewings of your home. This can be hugely counter-productive, because buyers often feel awkward making honest comments about the property when the owner is present, to say nothing of you getting potentially upset by anything that's said and getting things off to a bad start. The advice here is to make sure you've got the right agent on your side who will know what to say, and when, and will also avoid the tendency of some sellers to say too much and try to draw their attention to what they perceive to be the home's best qualities, when the best policy is to let buyers draw their own conclusions, based on their own tastes.
We hope this information helps. Why not contact us today for an informal chat about your need to sell fast and how we can help match those expectations with positive and effective action.