As we begin 2011, I have noticed that many homeowners in Brooklyn are thinking about putting their home on the market now, rather than waiting for the "selling season" in the Spring. If you are thinking about doing this, now might be a good time to take a look at my list.
1. Buyers buy after shopping around. In their search for the best buy, they are comparing your home to others currently on the market.
2. What Sellers control: Sellers control pricing and saleability of their homes. Buyers control VALUE. A property is worth what the market (buyers) will pay.
3. Price corrrectly to get the best sale price. If an overpriced property sits on the market for more than a little while, it gets shopworn and stale. Price it correctly at the beginning when it is fresh and buyer interest is at its peak. Otherwise you may actually sell for less than if you had started at the right price.
4. Most properties must be sold three times:
- To realtors with buyers. If they don't see it as a decent value, they won't show it.
- To the buyers. If they don't see your home as an attractive offering, they'll look elsewhe
- To the Lender if the lender and the lender's appraiser don't see sufficient value, there will be no mortgage.
5. What it means if...
* No showings - Agents don't see your property as worth showing to their buyers and buyers don't see value on their own.
* No offers - Buyers don't see enough value, or feel that the asking price is so far out of line that it is futile to even engage with the seller.
6. How to selll your neighbor's home: Overpriced properties actually help ones that are priced correctly sell!