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It is obvious that there are larger inventories in the real estate market in Bay Area in general. This could mean one thing. The market has cooled down and buyers now have access to a whole new range of options for getting a more suitable home for their families. At the same time days that an below average home would in Real Estate market could generate multiple above asking price and inflate the price of similar homes, looks so distant nowadays.
So in this market buyers can pick and choose with less stress associated with lost opportunities, cause more and more homes will come to market each day and buyers will have more choices. In this situation sellers can do a lot of things to improve their chances to sell their property at a reasonable price in the shortest time possible. I have to mention the price time graph. Higher you put the asking price, longer you have to wait for a buyer to knock on your door if you keep everything else the same. In a balanced market, an average home listed at the average price will sell in two to three months. In a Buyers market it might take up to six months to sell. If you put a price with only 5% above average you have to wait until a year or so to sell. That is with help of best Real Estate Broker you can find in your area. Doing FSBO in the buyers market is as hopeless as selling a boat in Nevada desert. So higher price, longer time to sell. This works in opposite direction too. If you decide to sell 5% below average, then you might be able to sell in one to three months despite the Buyer's market.
To buy an agent's sales talk, who claim he can sell your property at any price within a few days, is like accepting some stock broker's promise to sell INTL stock at 50% above market price the same day. Nobody can change fundamental of a market. If the market is big enough and nobody can manipulate it. So your first choice to sell fast will be to sell cheaper. You have to put a price, which is lower or maximum at average. It is a wrong way of thinking to see if somebody comes at higher price and lower the price when nobody shows up for a long time. You see from agent's perspective, when he look at all the homes in the market in your area, he will not show a home to potential buyers if that house has been in the market for a long time. Why is that, you ask! Because agents by experience know that if a house has been in the market for a long time, there might be something wrong with the house and they will not waist their clients time showing it to them.
Can you as a seller sell your property faster without compromising on the price? The answer is yes, you can. One way is to make the home more desirable to the buyers. The first thing you have to do is to gathering all the decorating ideas. One thing is for sure when it comes to furniture in your home. Less is always more. So go to U-Haul and rent a large space for your extra furniture. An average American family has double as much furniture as they need and most of the furniture have been bought separately and there are no harmony between them. Take a look inside furniture fashion magazines and you will realize that things are matching together. The carpet, the curtain, the table clothing etc are all in the same color pallets. You can certainly find a few piece of furniture in your living room and family room that are the same way. The best way to do this is of course to hire a staging company and they are pros and know what to do. Search online to find those who have many sold homes in their portfolio.
It is also important to check out the competition to see how attractive their homes are, both in respect to price and decoration. If you see something in competing homes that you like, there is a big chance that other do as well. Try to copy the idea, if it does not cost you an arm and leg. When professional advertisers have interviewed buyers of homes, there is one answer that shines through as buyers explained why they bought the home. They say they felt home, or they felt great. You have to realize that feeling great is associated with our senses. A good smelling bucket of roses or a bush of colorful flowers in the garden can induce a feeling. People will associate crowded dark places with bad feeling. So make your home as bright as possible and make most of the walls bright. Also some soft music might help to induce good feelings. Remember most of us will like neutral colors as oppose to strong colors like red, blue or green. While maybe 10% of people like a red carpet extremely, 90% of people cannot live with one. People do not like to see broken things. They will automatically think about fixing them and that will associates with work, which most of us do not like. Fix every single small broken thing inside and around the house if you want to keep it at showings, or remove them before showing your home to anybody.
P.S. At American Dream Realty all these services mentioned above are included in our Full Service Listing proposition.
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