Let’s face it: the current COVID-19 pandemic has caused a worldwide economic recession that spans different industries worldwide. But for common folk that wants to make ends meet throughout their daily lives, the effects of the pandemic are even more severe.
Many homeowners are currently selling some of their property to make ends meet as more and more businesses lay off workers to cope with the economic effects o the pandemic. A recent study has shown that there are 1.7 million homes that have been sold in three months, starting from August of 2020.
Although you’ve done everything within your power to make your home show-ready, you somehow can’t find a potential buyer that’s willing to buy your home. While there are some things that we can control, such as how we can present our family and how we can market it, there are also some things that we can’t control, such as where it’s situated and weather conditions in the area.
Even though some factors are beyond our reach and understanding, it’s still possible to effectively sell your home with critical factors in mind.
Right before you start selling your home, you’ll need to keep in mind the following factors. How will they affect your current financial health? Will you come out on top of the deal? Here’s what you’ll need to know.
Pricing
The pricing should always be the first thing that you’ll need to focus on. How you’ll price your home is a critical determining factor on how long you’ll be able to find a potential buyer for it. The general rule of thumb is that the “cheaper” your home is from the average pricing of homes in your area, the easier it is to find a potential buyer. If you’re going to go beyond the expected average price of homes, then it might take longer to find a buyer unless you can justify the high price with the right home.
You’ll need to do some research on what’s the average cost of homes in your area. In general, any house is sellable as long as there’s a balance of price and quality. It’s best not to overprice your property.
A common mistake that sellers make is misinterpreting the market information and data that they have. There are too many times when sellers price their homes based on the average in their neighborhood without looking into other factors. Most experts would suggest only factoring in homes that are considered sold in your area with your home’s same aspects.
Digital and Local Marketing
Next, you want to get the word out that you’re currently selling your home. Although marketing your home through newspaper listings might get you some traction, it’s not always the best way of dealing with your home. Since we live in a digital world where we can access information through different websites and social media platforms, you should have some form of online presence when selling your home.
You don’t necessarily need to be in detail with your listing. However, it’s still important to include the dimensions of your property and all the key features. Having photos of all the rooms and areas of your home can also give buyers something to look into. Although social media sites like Facebook can be used to sell homes, you’ll need to post your property on popular real estate sites. Not only will this help you find a buyer around your area, but this will help you tap into a broader market.
Suppose you’re unsure what you can do with your listings or how you can effectively market your property to look suitable for buyers. You can always ask for help from professional real estate experts known for having the necessary qualifications and skills to sell your house fast. Having professional help can cut down on time needed to find a potential buyer for your home.
Additionally, you’ll need to be able to impress your buyers in a matter of seconds. Usually, customers that are willing to buy won’t hesitate in making decisions. How does your marketing campaigns look? Will you be able to get organic clicks and a good conversion rating? High quality and professionally-taken photos are great ways of showcasing your home.
Even during times of uncertainty, it’s still possible to sell your home. Although you’ve already cleaned up your home and made it presentable to your guests and buyers, you’ll still need to be mindful of the ebb and flow of the market and prices. Marketing will also play a key role in increasing the likelihood of getting buyers invested in your home.