The interesting fact about real estate is that for every home for sale there is a potential buyer out there. The one thing that no one can really allow for is timing of the perfect buyer being available to buy your home when you list it for sale. However, there are a number of things that effect the time your house takes to sell and with the right advice and the best marketing you can minimize the amount of time your home sits on the market.
Nashville Buyers Market
As I'm sure you are aware, the current real estate market in the United States, and most of the world, is still under the effect of the economic slow down and recession, and one of the major economic indicators that reflect the health of the economy is the real estate market. The buyers market that exists in the United States means that a buyer now has lots of homes to choose from when they start the home search process.
For someone selling a home in Nashville, and the surrounding areas, you really have to take in to account the number of homes that are available in your immediate area, such as your subdivision, and the pricing of these homes. You have to realize that when a buyer has more choice they can start getting much more selective in the homes that they choose to look at. This means if they are looking for a home with a master bedroom down, a formal dining room, a bonus room, a level lot, a fenced in back yard and a community pool can now create a home search that really narrows down their available choices. Add to this the price range and you can start to see that if you do not have these requirements then the buyer will not choose your home to even view.
Your Homes Profile
So now you really have to decide what your home can offer to a new buyer. You will be competing with similar homes so if you try and overstate your homes appeal, you will just disappoint the potential buyer, as you have raised their expectations, and created a disappointing experience. For example, if you market your slightly sloping lot as being a level lot, when the buyer arrives to view your home the first thing they are going to complain about is being attracted to the home under false pretenses. This then changes the buyers state of mind from being open and receptive to one of being wary and suspicious and looking out for other faults. You can see that you have to appeal to a buyer that is going to appreciate your home for what it is and not for what you want it to be.
The Best Value For Money
So now that you know you can't try and make your home something that it's not, the idea is to put your best foot forward and make sure that your home is in the best condition that it can be. This means that when the buyer comes to visit your home, they see a home that matches their search profile, but will rise to the top of all their choices because the condition of the home sets the standard amongst the comparable homes. This means that your house represents the best value for money for the buyer as now they are comparing homes with all the same features but hopefully pick your home as it has less work to do after moving in.
Pricing Your Nashville Home
At the end of the day pricing your home correctly is what is going to minimize the number of days that your home stays on the market. If you have the house priced right then this means that you are appealing to home buyers who can afford your home and it will have all the features and quality that they are expecting. if you can have the condition of the home in such a good state so that you remove any potential objections when the buyers see the home.
Basically you want to make sure that your home is priced at a point that will attract the buyers that will appreciate your home and see it as the best in that price range. Adding to the list price to try and get more money from the buyer that will just love your home unconditionally is a very ill advised route to take and ultimately results in the seller having to reduce the list price to come into line with all the other similar properties.
Pricing Right and Saving Money
if your home is over priced you have to realize that you are setting the expectations of the buyers in this price range to find features and a quality of construction that they will find in other homes in this price range. Once you realize that people do not just look at one house, and that they actually become very aware very quickly, what they can get for their money. As soon as they see that your home doesn't quite measure up to other homes in the same price range, they will immediately start looking for other negatives and then move on.
The down side to over pricing your home is that it will sit on the market for an extended time until you reduce the price to make it more comparable with the other homes that have the same profile as your home. Those extra weeks on the market can equate to to one or two months wasted marketing and in real financial terms means two extra mortgage payments as well as missing out on any good opportunities for homes that you could have bought!
Maximizing Your Nashville Homes Exposure
Now that you have decided to sell your home you have to put your self in the shoes of a buyer. How will they find your home? Which website will maximize the exposure of your home to the online buyer? How many existing buyers does the realtor have? How will the market your home to their database of past and current clients. Ask us how we can guarantee you exclusive exposure on www.Nashville.com and the only dedicated FaceBook application covering the Nashville real estate market.
Free Home Evaluation
To take advantage of the marketing ability of The Ashton Real Estate Group and the experience of our knowledge of the current real estate market in Nashville please feel free to take advantage of our Free Home Evaluation and talk to one of our listing specialists.
The Ashton Real Estate Group of RE/MAX Advantage
The #1 Real Estate Team in Tennessee and #4 RE/MAX team in the world!