Things That Determine How Fast a Home Will Sell



When you’ve decided to sell your home, the last thing you want is to have it sitting on the market forever, especially if you’re already gone and in your new digs. Conversely, you might not be ready for your home to go under contract within the first few days after listing it.

So how can you plan? Is there a way to predict what might happen?

Besides getting a psychic reading, there are some real-world ways to make a fairly accurate prediction of how fast your home will sell.

1. The price

The best way to predict how fast your home will sell is by the price you set. Want yours to sell right away? Price it at or below market value, a figure you arrive at based on what comparable homes in the area are selling for and your home’s appraisal value. Price higher if you don’t care how long it takes to sell.

“The best time to get noticed is the first few days your property hits the market,” says Mor Zucker, a Denver real estate agent.

If you price too high, people searching for a lower price range might miss your listing. Meanwhile, your home competes in a price range with homes that are probably more attractive than yours because of location, size, or condition — or all three.

You’ll probably need to eventually reduce the price to sell. “You’ve now started chasing the market instead of the buyers chasing you,” says Zucker. 2. Your willingness to negotiate If you’ll not accept a penny less than full asking price, expect your house to sit longer than others in your area. After pricing too high, “a reluctance to negotiate is the second reason homes stay on the market a long time,” says Trip duPerier, owner of Texas Landman LLC. “A solid offer is nothing to scoff at,” he adds. 3. The photos Want your home to sell fast? Besides getting it looking all nice and spiffy on the outside and staging it indoors, get it photographed by a pro. “Having good photos of your home can definitely shorten the amount of time your property sits on the market,” says Zucker. Buyers naturally gravitate to homes that have better photos.

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