How long does it take to sell a property?
Some properties sell in a few days, others may take months. By recognizing some key factors that influence marketing a home, you can get significant control over market time.
While you may hear differing opinions, the proper balance of these factors will help you sell faster:
Location is one of the largest factors affecting value. A neighborhood’s desirability is basic to a property’s fair market value. It is important to look at the absorption rates by neighborhood as well as previous sales.
Buyers compare your property against others in that neighborhood. Buyers interpret value based on the available properties currently on the market.
The real estate market may reflect a “buyers” or “sellers” market. Market conditions can not be changed; an aggressive and property specific marketing plan is needed for each property.
The property condition will affect price and speed of sale. Optimizing the physical appearance and advance preparation for marketing the house for sale maximizes value and improves the offer from Buyers. Differentiate yourself from the crowd.
The more terms available, the larger the market, the quicker the sale and the higher the price. Consider which terms you can offer (i.e. assistance with closing costs) before placing your house on the market.
If the property is not priced properly, a sale will be delayed or prevented. Price is KING. I can perform a Comparative Market Analysis for you to help you determine the best strategy to price your home to SELL.
Visit the Market Updates for Knoxville to learn more about the recent sales environment.
Interested in learning the possible value of your home? Need help selling your home? Let me tell you the Top 10 Reasons Why You Want Me On Your Side and what my clients say about my performance as their Real Estate Professional.
Written by, Shannon Foster-Boline