15 Mar How to sell your home in 30 days
Why are the first 30 days so important?
I regularly talk to customers who are putting their house on the market. I always make a point of stressing how important the first 30 days are going to be. If you are going to get the best price and sell your house in less than 30 days, getting the marketing and pricing right is absolutely critical.
To those of you who are buying a house, we know that you will be scouring the property listings most days. You will probably have alerts set up to tell you of new instructions. In fact, Rightmove tells us that, on average, buyers look at the property listings between 6 and 8 times per month.
Most buyer activity is generated when the property ‘goes live’. This is when that anxious group of buyers look for the new advisement. They’ve probably already seen what’s out there, and if they had liked what they had seen, they probably would have already made an offer. With a short attention span, the “newness” of a listing wears off after about a month.
It’s important, then, to generate offers before the market moves on and your property starts to get stale. We all know that people don’t want what other people don’t want. So if your property is on the market after 90 days, it’s probably because people are starting to wonder what’s wrong with it.
Getting the Price Right
Pricing right from the start is key. The biggest mistake that many homeowners make is starting their price too high. Starting the price too high, and then dropping the price later, misses the excitement of the first 30 days and fails to ever generate strong activity.
Being competitive in pricing is important to compete with the other houses on the market, and proper pricing attracts buyers to schedule viewings of the home. Customers that price the property correctly from the outset are 40% more chance of getting a sale agreed in the first 30 days.
A competitive market value of your home is what a buyer is willing to pay, and what the seller is willing to accept in today’s market. A competitive market value is not what you paid for the house. Nor what you heard it was worth, what you want to get or what you need to get. The value is not what your neighbour thinks you should get.
Buyers will make a pricing decision based on what has recently sold in your area. If sellers find themselves in a market with falling home values, the issue is magnified. They end up chasing the market down, as home values are always falling faster than their price reduction. Simply put, an overpriced house will not sell.
Don’t wait for new buyers
After the initial “newness” of the property listing wears off, and all active buyers have either requested a viewing and seen the house and have moved on, you’re now waiting for new buyers to enter the market. The viewings become less frequent, the days on the market become higher, and buyers might wonder what’s wrong with the house because it’s been on the market so long.
When pricing your house, price it where it will sell in the next 30 days. This is when the viewing activity is at its highest, and the market is most excited about your listing. In the proper pool of qualified buyers who see the value, and are willing and able to buy, you may find yourself with many offers coming your way, giving you several to choose from.
This is a much better proposition than receiving no offers, having the market move on, and you left behind with a house still for sale. Remember, exposure and correct marketing leads to viewings. Viewings lead to offers, offers lead to a sale. It happens in that order with little deviation.
I’d love to speak to you about how we can help sell your house in 30 days. Why not call for a free, no obligation chat on 01325-776424.