Everyone wants to sell fast and for the most money
When it comes time to sell your home, everyone wants the same things. The most money and the quickest sale.
To the most part, the market sets the price. There are strategies for getting more and mistakes that can lead to less, but lets leave those for another discussion. Today lets talk about speed.
Until very recently, the majority of houses in Waterloo Region sold within a week. Now that the market is maybe transitioning back into a more balanced market (here’s hoping), I think it safe to say that days on market will expand again to more historic levels. A few years ago I come through the data and found that 40% of homes listing in Kitchener Waterloo sold within the first 21 days. Another 40% sold within the next 21 days and then the long tail of sales happened. Of course this data only reflected sales. The data also revealed that 37% of homes did not sell, at least not during the first time listing.
So let’s agree that selling fast means 21 days.
How to sell your home fast
Realtors say that price solves all problems. If you want to sell fast, regardless of the condition or location of the property, the economy or any other factor, a shockingly low price will bring a buyer.
If you have priced too high and are thinking about a price reduction, one big reduction is better that tow little ones. Chances are as soon as you drop the price, you will see increased interest in your home.
Real estate is cyclical and home buyers have been trained to the most part to buy in the spring and move in the summer. Sure, there are sales going on in other seasons too, but most people would agree that the best time to sell is when the buyers are out shopping. List your home in the early spring for a fast sale.
You also need to have the right agent with the experience and work ethic and communication skills at the right brokerage.
What if you’re house is not selling?
What it means if your house is getting lots of showing but no offers.
Generally speaking, if you are getting lots of showings but no offers then the price is too high.
What it means if your house is not getting any showings and no offers.
Oh dear. Is it the photos? The responsiveness of the agent? An issue with the house or the neighbourhood?