- Don’t Wait – Remaining on the sidelines until the “flowers are in bloom” is a flawed strategy. Yes, your property looks better when they are, but so does everyone else’s. By May, many of the buyers have already purchased. When you’re emotionally ready or if there is a pressing financial need, and your home is physically ready, then that’s the best time to sell. The market is currently very brisk, and over the past few weeks multiple offers are becoming more and more common.
- Staging – Speaking of being physically ready, the way in which you live and the way your home is presented to buyers are two completely different things. Hire stagers, de-clutter and ensure that everything is in good repair.
- Pricing – This is the most important component and yet the most difficult for a homeowner to accomplish for a myriad of reasons. It is imperative that you analyze the most relevant data in an unemotional manner. Rule of thumb: If you’re very happy with a Realtor’s suggested price, you are likely both too high.
- Hire A Top Agent – Speaking of which, the biggest mistake that most homeowners make is hiring an agent who suggests the highest price. The second one is hiring an agent because they are popular. Look at their track record. Not so much with regard to the number of listings that they may have, but in their success rate at getting their listings sold and most importantly at their sale price to list price ratio.
- Marketing - The marketing strategy should include “out of the box” thinking. The days of print advertising or meandering at the country club as a viable means to getting your home sold are long gone. The internet, social media and global exposure should be an integral part of their plan.
- Engage The Brokers – This should be a top priority for your agent. If your Realtor doesn’t channel getting other Realtors excited about your home every week, the number of showings will suffer.
- Negotiate – If there is one thing that I learned in twenty-six years as a Realtor, it’s that your first offer is usually your best. If the halfway point between an offer and your list price is a number that you can live with, even if there is a little bit of pain involved, then that should be your clue to negotiate.
Written by Al N. Filippone. For more information about the local real estate market, contact our Darien office at 203.655.5358 or visit our website at afahomes.com.