What is it about a home that makes it sell faster than other homes?
This question is one of the most asked questions by home sellers around the country these days.
There are many great condition homes that are located in good neighborhoods, but yet they're not selling, while other similar homes, similar condition and location are experiencing bidding wars and buyers are willing to over pay above and beyond the asking price.
Is it the realtor? Or maybe the Brokerage?
Statistics show (regardless of location) that many homes that sell faster all around the country are not necessarily listed by an agent or are listed but by an unknown realtor/brokerage.
So what is it really?
Homes for sale in Eastside Providence RI for example vary in style, condition, size and price. Although many of them are considered "move-in" condotion, and similar in size (for example 4BR and 3BA Eastside Providence homes) but yet one of them sells in 5 days while some others are listed for 6 months or more (Similar scenarios in Newport RI).
So what is it really that causes one house for sale to get a contract in 3 days while others don't get an offer for over 6 months?
There is one similar category for all homes that sell fast, no matter the location.
It's the price.
My experience thought me that there is nothing other than price that sets apart one property from the next. Of course when the demand is high and supply is low, prices can go higher on an almost daily basis. But We're talking about a healthy steady real estate market.
During my real estate sales career I was fortunate enough to close over 1000 real estate transactions. I did that while watching other agents struggling and many of them quitting the business in their first few months. So what did I do better? I studied prices everyday, I previewed every home for sale in the market and I listed most of my listings at the "right" price.
If you are a home seller or a realtor wishing to sell your home/listing faster, remember that price is the only issue in selling real estate. If you start by listing high and then lowering, you are doing it wrong. The price you set from the start is what's important.
If you have any questions, Feel free to comment here.