A homeowner thinking of selling is faced with a daunting task. What is my home worth? What is the best marketing? Do I need to hire a Realtor? How quickly can my home sell? These are common questions that those not in the business may not know where to find answers.
We hear national and state news on how the housing market is going up or down, but that doesn’t mean Sierra Vista is the exact same. All real estate is local.
Get a CMA
A “CMA” is a Comparative Market Analysis. It is an opinion of value by a broker or agent that is not a formal appraisal. It compares recent sold and active listings in your home’s vicinity to give a current market value. This is an essential aspect of selling your home because a home priced right makes all the difference with time on market.
Hire a Realtor
Of course I would recommend this being a full-time agent myself. Many sellers feel they can sell their home just as well as if they hired a professional. Here are 2014 statistics from National Association of Realtors (NAR):
- For Sale By Owner (FSBO) accounted for 8% of home sales.
- 89% of Sellers were assisted by a real estate agent to sell their home.
- 87% of Buyers purchased their home through a real estate agent or broker.
The most difficult tasks for FSBO sellers are understanding the paperwork, getting the right price, preparing the home for sale, and selling within planned length of time, according to NAR.
Ready your home
Even in a down market the importance of getting the home ready for sale cannot be underestimated. It is truly amazing how much of a difference a freshly painted home makes. Here is a sampling of small tasks that make a big impact:
- If you know of any hidden defects, such as a leaking faucet, repair what you can and disclose the rest. We are a disclosure state meaning it is your obligation and responsibility to disclose anything not readily apparent.
- Remove excessive wall hangings and clutter.
- Paint where needed.
- Thoroughly clean the home, including light fixtures and window coverings.
Be prepared to move within 30 days
The average ‘Days on Market’ in 2016 is 165, which is down from 235 last year. Therefore, it takes an average of 5.5 months to sell a home right now in our market, as per the Southeast Arizona Multiple Listing Service production statistics. However, there is that chance that your home could sell within 30-60 days. Be ready at time of listing to move quickly if necessary.
My last tip for home sellers is a big one. Selling your home is not easy. Being flexible can go a long way to relieve the stress. Control the aspects you can and be flexible with the rest.
About the Author
Katherine Mullen is a licensed Realtor with Tierra Antigua Realty and a member of Southeast Arizona Association of Realtors. Visit Katherine-Mullen.com for more info and search the MLS.