Realtor View: Make your home as marketable as possible

Selling your home can be overwhelming even without the backdrop of a pandemic, particularly if you are constrained by time or money. If your property is taking longer to sell than you expected, don’t lose hope. It may be time to re-evaluate. Knowing what problems exist and how to fix them may entice buyers and increase the opportunity for a sale.

In the current market, which strongly favors the seller, you would have to seriously overprice your home for it not to sell quickly. Overpriced properties are discouraging to potential buyers who may not even view the property if they think it’s worth much less than the asking price. This does not mean that you should undercut the value of your home. But it does mean that you should put some thought into pricing your home to sell.

At the outset, sit down with your Realtor to discuss a marketing plan and pricing strategy so you are both on the same page. If you suspect your house isn’t selling because you’ve asked too much, have your Realtor conduct a new market analysis and decide whether to lower the price or discuss other ideas. Also, remember that comparable sales reflect past sales. If the market trend is downward, even slightly, you should recognize this. Sometimes sellers continue to follow the market; you might consider making a price adjustment and thereby lead the market. More importantly, you will likely sell your home quicker and at a better price.

Properties priced too high tend to sit on the market, giving the message that the home may not be worth what you’re asking for it. Buyers may assume that because everyone else is passing it up, there’s something wrong with it. If your listing has become shopworn, look at reducing the price or offering incentives. These strategies may help pique buyer interest.