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As a home seller, you have to ask yourself an important question. Do you want to be “in” the market to get your home sold quickly for the most money OR do you want your home to be “on” the market? Believe it or not, there is a big different. As your Realtor, I want your home to be on the market for the shortest time possible in order to net you the most money in your pocket. I am sure that is what you want as well!
Before your home can sell, you have to understand that a buyer equates value with two different things: price and condition. These two factors have to be just right in today's market in order for you to get an offer on your property. In fact, there really is an art form that an agent has to know in order to price homes to sell while still preserving as much of the seller's equity as possible.
When we look back to the year 2007, you just didn't have to do as much preparation when it was time to list your home for sale. In other words, your home's condition could be less than stellar while you were still able to get a decent, higher sales price. A lot of this was because there was simply a bigger pool of buyers out in the market competing for properties.
Today, in 2011, we have to get tighter on price and condition. The buyer pool is smaller, so sellers have to make sure that they are reasonable and attractive when it comes to condition and pricing. We have to do the simplest things such as turning on all of the lights for showings, touching up paint, open up the blinds and remove personal pictures from the home.
Condition is every bit as important as price these days. That means that we have to do both things correctly in order to be “in” the market instead of just sitting “on” the market. Being “in” the market means you will get showings and offers. Being “on” the market might just mean you have a sign in your yard and a listing in the local MLS, but what good does that do without contracts and buyers?
Some sellers are stuck between being “in” the market and “on” the market. They might be getting some showings, but no offers. This is usually because either condition or pricing is “off” when it comes to attracting qualified buyers. I call this “no man's land”. You have to get “in” the market by making sure both factors are correct.
As a seller, you don't want to be in “no man's land”. Real estate agents know that these homes are what actually help sell the competition. When a buyer walks into a “no man's land” home, it often confirms for them that they need to purchase the better priced, better condition home down the street.
If you are not getting showings or offers, you are “out” of the market completely. Remember that you must work with your real estate professional to make sure that you are firmly entrenched “in” the market so that you are the next home to sell!
