Tips for Selling in a Competitive Market
What a massive turnaround our local market is experiencing- finally! While things are absolutely looking good for the Arizona market right now, there are still some price points and areas of the Tucson and it’s outlying areas that are quite competitive. When it comes to selling a home, few things can be more disheartening than a competitive market where sellers may struggle to get a buyer. The stiffer the competition, the longer it may take for a home to sell, and the less the seller may get for that home. Anyone who needs to sell their home in a competitive market can do so if they follow some tips for making sure they’re doing all they can to get interest in that home. The more buyers see a home as the right choice the more likely they’ll be to purchase it instead of a home that belongs to a competing seller.
Focus on the Price
While price isn’t always everything, an overpriced home isn’t going to sell. If you have a lot of competition, price is going to matter even more than it would in a less competitive market. The lowest priced homes generally sell first, all other things being equal, so focusing on what your home can offer that other homes don’t have can affect the price buyers will pay. A home priced too high isn’t going to sell quickly, but a home priced high with the amenities to back up the price can still sell quite well in a competitive market. It’s all about features and value for the money. Being aware of what is happening in your local market is key.
Sweeten the Deal
One of the ways to get your home sold fast when the market is competitive is to focus on how you can make the house more appealing than other sellers’ homes. Price is only one factor. Perhaps the home has green features, is on larger lot, offers a pool, or provides something else that buyers will really love. If that’s the case, make sure buyers know about any upgrades or amenities in your home that are different than what they would receive with surrounding homes, even though the price is the same or similar. That extra information can make the case that the value is there and keep buyers interested. Considering some improvements before you sell? Enhancing your curb appeal, kitchen and bath updates, and freshly painted walls definitely can help- but one of the most important things to do is handle any deferred maintenance. Deferred maintenance can be a huge red flag for buyers and their agents—and if you have not kept up with things you may be in for a rude awakening when you receive a low offer. So paint that fascia, change your furnace filters and get the exterminators out to make sure termites are not munching away at your at your bottom line!
Keep Things As Clean As Possible
Cleaning your home inside and out and keeping the yard neat and looking great is important when selling, but it’s even more significant when the market is competitive. Even something as simple as a front yard in need of gravel and trimming can mean buyers overlook one house and choose a different one. (And believe it or not, your the way your neighbors keep their yards can be of huge importance to a buyer also. No one wants to buy a house if the house next door is in a wretched state. Check here for some ways on dealing with problem neighbors.) Sellers shouldn’t lose out when they can so easily remedy the situation. Focusing on keeping everything very clean, neat, and picked up at all times to help draw in buyers; this has the advantage of also being easier when there are last minute showings to consider. Those showings could mean getting a buyer, so being prepared matters. Need help on what to do to get your home ready for market? We wrote an article you can see here to get you started in the right direction.
Know Your Limits and Work Within Them
It’s vital that you know your limits when it comes to what can be offered to make a home more appealing to buyers. Don’t invest thousands in renovations that may or may not appeal to a buyer—or at least consult your agent before you do. By keeping that in mind, sellers can make sure buyers are happy and get their homes sold in a competitive market, all while making sure they aren’t selling themselves too short in the process.
Choose the Right Agents
When selecting an agent to work with, make sure that they are experienced AND willing to work hard for you. (The two don’t always come hand in hand!) Please don’t put yourself at a disadvantage and hire an agent who will not take the time to properly advise you on how to get your home ready and offer your hard evidence of where to price it. Ask them if they use a professional photographer and ask to see examples of their past sold listings. You and your property DESERVE agents that will go above and beyond to make the process a positive one. If they say that they will take the photos themselves, or that you don’t need to clean your home to get ready for showings, or if they suggest you vastly overprice your property with no evidence to back up their valuation- MOVE ON AND FIND ANOTHER AGENT. You will not only have a better experience, but you will sell your home faster and for more money by carefully vetting and hiring the right professionals.
The Property Aces Team of Long Realty are thrilled to be your go-to real estate agents in Oro Valley, AZ. We also proudly serve the surrounding areas of Marana, Catalina and Tucson. Want to sell a home in Oro Valley? Interested in learning more about buying and selling real estate in Tucson and the surrounding areas? Want to know how much your Tucson, Marana, Catalina or Oro Valley home is worth? We are here for you- seven days a week!