The most important factor in getting the most money for your home in the least amount of time is pricing it correctly. A study of last quarter’s FMLS single family home sales data indicates that the average days on market was only 21 days for homes that did not need a price reduction after being listed. These listings sold for an average of 98.4 percent of their list price. When homes are overpriced, the inverse is also true. 40.9 percent of the homes that sold last quarter needed at least one price reduction and ultimately sold for an average of 89.2 percent of their original list price and in an average of 117 days. Determining the right price for your home is a delicate balance between a variety of analysis methods and market area experience. It’s not enough to rely only on past sales when market conditions are indicating a strong trend up or down. The Kurt and Sheila Team's sold listings in 2013 sold for an average of 99.03% of their original list price and in an average of 32.82 days.
To get the highest price for your home you must prepare it for sale. This may involve a mix of staging and improvements. Industry studies indicate that with the right staging, a seller can add 20% to the sales price of their home. For example: $500 in staging can bring 20% more for a $300,000 home (or $6000). Our experience with flipping homes has taught us that a fresh paint job and new carpet ($6000) can add $20,000 to the value of a home. That’s over a 300 percent return on those repair costs. The goal is to get the most for your home with the least amount of money spent on staging and improvements. The Kurt and Sheila Team provides a two hour staging consultation free of charge.
You cannot get the most for your home if buyers aren’t asking their agents to view your property. The National Association of Realtors surveyed home buyers in 2013 to determine how they found the home they purchased. 92 percent of these homebuyers utilized the internet for their search. With 92% of homes being purchased as a result of how the home appears in the listing online it is more important than ever that your home be marketed with great photos and with high placement on the most popular real estate portals online. It’s just not enough to have your home on the multiple listing service.
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The more traditional marketing and social media methods are important too. Open houses, Facebook posts, print advertising and “Just Listed” postcards to your neighborhood are still an effective way to enlist the help of your neighbors to find a buyer for your home. This method of marketing seems to be more effective in a community like ours because so many of the homes sold are bought by other community residents wishing to upsize or downsize. With 80% of owner occupant buyers buying within 20 miles of where they currently live, the Kurt and Sheila Team's promotion of their client's homes on the back covers of Townelaker and Sixes Living is highly effective at reaching this 80%.
If selling your home in Cherokee County, call the Kurt and Sheila Team for a free valuation of your home.
