How To Sell Your Home Fast & For Top Dollar

When we ask "What's most important to you with your sale?" Nearly every time we hear, "I want to sell fast and for top dollar." So how do we do it?

Two of the most important factors to consider when selling your home in Phoenix today are price and condition. According to The Cromford Report, home inventory is down to 3 months in Maricopa County, which means if no new homes came to market for the next 90 days, there would be no homes left to sell! Uh-oh. This historically low number means buyers are sifting through far fewer properties in search of their dream home! It also means it's easier for sellers to find market value for their homes fast!

Because inventory is sparse, the risk of under selling your home is relatively low. In other words, if you or your agent accidentally price your home below market value (hardly ever happens), multiple offers should bring you back up to the market value.

If supply is low, and demand is high, why not price your home above market just to see if you can get it?  It's temping, we know. But buyers today are cautious. Gone are the days where buyers bid forty, fifty, seventy thousand dollars over asking. Homes priced too high today sit on market for months. Not to mention, even if you do find a buyer willing to pay more for your home, you may run into issues with the appraisal process for a buyer financing the home. 

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Per the diagram above, the longer your home sits on market, you're likely to sell for less! If your home is priced too high, traffic will be light and you'll chew up valuable days on market.  The market speaks loud and clear when your home is overpriced, make sure to listen to it. Remember, you can set the price, but the market sets the value.  

You may be over priced if:

  • You've had 12+ showings with no offers
  • You've been on market for 10 days with fewer than 3 showings

Condition also plays a big part in the offers you will see when your home is listed for sale. Homes that are clean, un-cluttered, and odor free tend to sell much faster even if the homes are in need of new paint, carpet, or appliances. Your home doesn't have to be absolutely perfect, but be prepared for offers to reflect its current condition.  Contact us for our Sellers Guide to Staging Your Home

If your home is priced between $200k and $500k and you're looking to earn top dollar and sell your home fast, here's how it's done.

  1. Give it a good scrubbing and declutter
  2. Determine appropriate market value
  3. List at said market value
  4. Launch on MLS Thursday, but schedule tours starting Saturday
  5. Listen to buyer feedback collected by your agent
  6. Wait for the offers to roll in
  7. Pick your strongest offer

Selling your home doesn't have to be a headache if you have the appropriate expectations of value and a team of professionals working for you.  Just as every home is different, so too is every buyer. Remember, value lies in the eye of the beholder. 

If you have questions regarding the selling process, or want to know what's up with step number 4 above, contact us.  We want to help!

 

 

*About the author: Mark spent the first 13 years of his professional career in finance as a Wealth Manager and currently holds his Certified Financial Planning designation, along with FINRA Series 6, 7, 63, & 65. Transitioning to real estate in 2017, Mark sold 23 homes in his first 6 months in the business. This article is not considered advice and is opinion based on recent dealings in the Phoenix real estate market.