One of the biggest questions on everyone’s mind when they’re selling their home is “How long will it take?” Putting your home on the market leaves a lot of uncertainty and can add some extra stress, especially when you’re trying to plan your next move. GreenTree agents gather market data and analyze the life of a listing in your area, but you may want to consider these factors when asking how long it will take to sell your home (the last one may surprise you).
In real estate, everything comes down to location, location, location. Factoring in how long your home may sit on the market is no different than this basic principle. If your home is located in a sought after area—next to a great school, proximity to entertainment and convenience, or in an up and coming area—you may be in a fast moving sellers market. You’re GreenTree agent can give you data on the average age of similar listings in your area, as well as the longest listings, and why those listings might not be selling.
Consider price not just in terms of fair market value, but also in visibility. Homes that are priced properly typically see shorter market time but price can also be used as a marketing tool to attract buyers. Homes that are priced 10% over market value will typically appeal to 30% of the market, while homes priced at fair market value can attract 60%. However, homes priced 10% under market value have the opportunity to move quicker and field more offers from 70% of the market.
It’s often overlooked, but the quality of photographs used to portray your home could greatly affect it’s time on the market. Listings with substandard photos don’t drive internet traffic and could be off putting to buyers. Over 90% of home buyers use the internet to search for homes, so listing photos are crucial for making a good first impression. DSLR photos that are properly lit and showcase the features of the home without manipulating the house tend to attract more buyers, more offers and sell quicker.
If you’re thinking of selling, talk to your GreenTree agent about a custom strategy to get your home sold in the timeframe you want. The right combination of location factors, price point and marketing can help ease your stress and put more confidence into selling your home.