Home owners want to “Sell My Home Quickly!” This is number two in the list of important services sellers want from their listing agents. Yesterday we wrote about the top spot which was that sellers want listing agents to find a buyer for their home and how the marketing plan was the tool to achieve that.
Sell My Home Quickly.
Here in Barrington our average market time is not measured in days or weeks. We are still measured in months. Most home sellers don’t want their listing agents to sell their homes too quickly. That conjures up the idea of what I call a fire sale. To achieve that a property must be listed well under market value to attract buyers quickly and offers too.
Home sellers want listing agents to sell their homes quickly but also for the best price possible.
To achieve that it’s a balancing act of getting the price right, not too high yet not too low. Add to the mix the average marketing time, so the right expectation is created. There are more variables that will effect the speed at which a house might sell. For example the updated home will sell faster than the outdated home.
Pricing Your Home Is Critical
The relevance between selling a home quickly and pricing a home correctly from the start is critical. The history of real estate data proves that over-priced homes not only don’t sell but suffer consequences of over pricing from the outset. Ultimately many sell for less than they would have done had the price been correct to start with.
Beauty is in the eyes of the beholder, right? Homes are no different. Sellers think their homes are worth more than the other one listed and there’s usually a shopping list of reasons why. Emotion plays a huge part in property ownership. It has been really hard over the last several years to accept the decline in property values. Your hard earned equity has fizzled away year after year. We know, we are home owners too.
Our declining market brought to the real estate negotiating table some very savvy buyers, who didn’t want to overpay for homes. Thankfully the market has stabilized. Here in Barrington we’ve had a very successful year with 712 homes sold. Inverness had 123 bringing the total to 835. Some areas were extremely popular with very fast sales, others average and the higher priced homes while selling were still experiencing long market times. In the end the average market time for all these homes in 2013 was:
- 174 days for single family homes. Barrington and Inverness
- 130 days for condos and town homes. Barrington and Inverness
If your home is still for sale past these times, there are likely several reasons you’ll need to look at to assess why. Time to sit down with your listing agent and review both your price but also the marketing plan and those other variables. Perhaps also time to sit down with your emotions. If the price you want is not achievable, perhaps it’s not the right time for you to sell.
Next time we’ll look at pricing homes. If you are in the market to sell your home in Barrington or the nearby areas we service, we would love to hear from you. Send us an email or give us a call at 847-363-3686.