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5 Ways to Speed Up Your Sale

Profile picture for bree007
Real Estate Agent
Contributions: 463
5 Ways to Speed Up Your Sale

1. Price it right. Set a price at the lower end of your property?s realistic price range.

2. Get your house market ready for at least two weeks before you begin showing it.

3. Be flexible about showings. It?s often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you?ll find a seller.

4. Be ready for the offers. Decide in advance what price and terms you?ll find acceptable.

5. Don?t refuse to drop the price. If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price.
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August 26 2007 - US

Replies (128)

Profile picture for csslawrence
This is of course coming from an agent that has absolutely no skin in the game. What makes so many agents think that the only way to sell a house is to keep dropping the price until someone stumbles upon it and steals it.

I'm in Sales and if I took this approach (giving up margin) in my daily routine I would be fired. My house has been on the market for 90 days and is priced in the right range. At every thirty day interval the call comes from my agent that we have to drop the price to 'stay in the game' , you want the house sold...right. NO ! Not an acceptable price. It can be on the market for 10 years as far as I'm concerned . Moving into a newer house is a want, not a need. I know it won't be just me that swings the market in favor of the Seller but enough is enough
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August 27 2007
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mpal

Norwalk, ct

Contributions: 10193
I agree with you css, I feel my house is priced right! Fortunately so does my agent!
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August 27 2007
Profile picture for jdsdaddy
Contributions: 504
Good advice Brenda. I would add that this only applies in today's tough market. If you truly do not need to sell and are at the minimum you are willing to take and the house has been on the market for over two months, why not take it off the market for a while? The aggravation of being constantly "show ready" must be driving you crazy.
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August 27 2007
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Everyone on this zillow sight as done this...........Brenda, I hope you don't take offense but, us regulars have done everything you have posted a long time ago
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August 27 2007
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I don't know about you guys but if I saw a house that had been listed for '10 years' I probably wouldn't even go look at it.
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August 27 2007
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mpal

Norwalk, ct

Contributions: 10193
it could be interesting Mike, maybe worth a look, just for curiosity sake
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August 27 2007
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If I saw a house on the market for a prolonged period of time I'd be wondering why others haven't bought it... whats wrong with it?
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August 27 2007
Am I glad I peeked in to see this discussion. I've had the same experience with everyone trying to push my price down, and my Co-op has been on the market several months. I've just decided I'm not giving it away, especially after renovating it to the hilt a few years ago, when I wasn't thnking of moving. At least I've had the enjoyment of those renovations. And even though I've already moved and it costs me every month, I'm not giving my "home" away, it is worth every penny I'm asking - I was there 27 years.
As for why no one has bought? Maybe the ones looking just can't afford it.
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August 28 2007
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mpal

Norwalk, ct

Contributions: 10193
There are a lot of reasons why houses don't sell right away. As a matter of fact I looked at houses a year ago that are still on the market, beautiful, new construction, I think in this market you have to consider that there just aren't enough buyers for the inventory. But the length of time on the market would not deter me. Insure, good for you, don't take what isn't acceptable to you.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
mpal, you got it right. There are not enough buyers for the inventory.
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August 28 2007
Profile picture for MCD123
Contributions: 2
As a potential buyer, I think agents and sellers alike should face the fact that the days of making beau-coup bucks buy selling a home is OVER. Potential serious buyers know how much the owners paid for their home. If you lived in it for 27 years and have not taken good care of your home, or made renovations that a buyer doesn't want or like, guess what...it is likely not worth what you are asking. It is not a matter of affording what you are asking. It is a matter of paying 25cents for a shiny new nickel. No matter how shiny it is, it's still only worth 5 cents.
I guess sellers need to ask themselves, how long are you willing to hold the note on two mortgages, tax, insurance and up keep. With each passing month, you are taking a loss.
Brenda is right, if you want or need to sell your home and you are going to have to lower your price.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
Many people have lowered their prices.

Lowering them to the point of giving them away. I dont think so. Sometimes its not the price. Sometimes there arent any buyers and sometimes the listing agent sucks.
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August 28 2007
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mpal

Norwalk, ct

Contributions: 10193
Not always true Mike, and just how low should you go. Chances are if you've owned your home for 27 years you don't have huge mortgage payments. I've only owned mine for 7 years and my mortgage payments are cheaper that If I were to rent! I can buy and keep this but It's not what I want to do.
I am a serious buyer and am banking on the fact that my agent knows what a house is worth, she always has comps on the houses she shows me, and again, If I see a house I have to have I will buy it, I am not going to wait for the market to "crash". That's just so ridiculous to me as I plan on living in the next house a long time!
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August 28 2007
Profile picture for Marci Reinheimer
As I've stated a bajillion times, lowering the price is not always the answer. In an area that I have a house for sale, the prices range from 290K (short sale) to 450K. None have sold. If there aren't a lot of buyers, lowering your house will do no good.
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August 28 2007
Profile picture for lucydjacobs
Contributions: 1271
Some sellers won't accept that comps don't lie.

My guess is that the list above was originally created for owners in general, which includes the subset of owners who refuse to believe that their homes will not bring $350,000 when nearly identical to all other homes in a neighborhood that sold for $200,000 to $250,000.

Here, we are aware of our comps. But it it must be frustrating for agents and buyers to deal with owners who price their homes at what they want as opposed to what it's worth.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
Lucy,

My guess is that the post created above was copied and pasted from generic materials. It is easy to sell a house by lowering the price. Lower it enough and lots of people will want to buy it. A good agent gets you the most money.
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August 28 2007
Profile picture for Marci Reinheimer
Amen to that Carrie.

Lucy, if a seller insists on an outrageous price for their house, I don't even take the listing. Carrie's right, all these lists have been cut from some newsletter.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
Marci,

touche to that. I have also refused listings from unrealtistic sellers. Not worth my time, money or effort.
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August 28 2007
Profile picture for MCD123
Contributions: 2
That's the key... lower it and someone will buy. Keep it as it and you can keep telling yourself you are a good agent and will get the most for the home. But reality is... your not selling. The market is going to move to more buy owner if you don't sell.
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August 28 2007
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mpal

Norwalk, ct

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reality is I don't care MCD.
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August 28 2007
Profile picture for Marci Reinheimer
MCD, if the comps in your area were averaged at $273 per sq. ft. would you sell for $150 per sq. ft? Heck, I'd take that listing anyday.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
MCD, you fail to realize not everyone is a desperate seller and not every buyer has been reading the posts on the dark side, so they still have some grasp of reality.
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August 28 2007
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mpal

Norwalk, ct

Contributions: 10193
LOl Carrie!
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August 28 2007
Profile picture for SelphRealty
Real Estate Agent
Contributions: 1
i need some tips on sellling my house fast i have tried a lot them alrready
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August 28 2007
Profile picture for bree007
Real Estate Agent
Contributions: 463
The first thing to remember is that the market decides the price_NOT YOU. And certainly not a real estae agent. In otherwords, your house is worth exactly what a ready , willing & able buyer will pay for it. Not a penny more, not a penny less!
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
You forgot and what the seller will accept.
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August 28 2007
Profile picture for Marci Reinheimer
now, now Carrie, don't be mucking up the works by not going by cliches. Sheesh. It really is almost laughable.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
sorry, whatever happened to originality?
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August 28 2007
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Originality? I thought we were supposed to cut and paste. My bad.
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August 28 2007
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Carrie R

Port Republic, Maryland

Contributions: 7102
Marci, I was thinking if you and I started cutting and pasting, we would probably have A LOT more to contribute and may get more respect. Cutting and pasting DOES make you seem oh so knowledgeable on the subject matter dont you know.

God forbid you would know ANYTHING off the top of your head or offer REAL information and repsonses.
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August 28 2007

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