Understanding what buyers are looking for can help you sell your home quicker. Put yourself in the buyer’s shoes. Find out what their motivations are for purchasing a home, and what benefits your home offers them.
As a seller, you are able to control three conditions that will affect the sale of your home:
Pricing your home correctly the first time is crucial. If you price your home too high, then you may be marketing it towards the wrong group of buyers. You may lose qualified buyers for your home because they will not show up in their search in the price range that you have your home in. This may cause your home to remain on the market longer. The longer your home sits on the market, the more likely buyers will begin to think that something is wrong with it. This may drive potential buyers away from looking at your home.
Making repairs and improvements to your home can increase the chances of selling your home faster. Many buyers are looking for a home that is move-in ready. If they view a home that needs significant improvements, they may discard the home from their list of potential homes. They might not have the funds or time to get the home looking the way that they would want it.
Marketing your home towards your target market will increase the number of buyers looking at your home. If your home is in a first time home buyers price range, you will want to be sure that your home is on as many websites as possible. They begin their home search online, and obtain as much information as possible through the internet. Also, using social media is a new way to reach these buyers. Depending on the type of home you have, your real estate agent will be able to tailor a marketing plan specific to your home.
However, there are some factors that influence a buyer that are out of your control.
Unfortunately, the most influential factor in purchasing a home is something that you can not control. Statistics show that location plays the largest role in a buyer’s decision to purchase a home. Whether they love the atheistic of the neighborhood, or they are looking for a home close to work or school, location is key.
There are many reasons for moving. Some buyers are looking to expand their family, while others are looking to downsize. Whatever the reason for moving is, the size of the home plays a significant part in a buyers search. If they have a large family, they are going to be looking for additional room in the main living areas and/or basement. Over the years, we are seeing the need for more space among homeowners. The sizes of homes have doubled in the past 50 years.
The need for a certain style, floor plan, and amenities in a home seem to change every couple of years. Buyers tend to follow the same pattern of what they are looking for in a home. If you own a turn of the century home, and your buyers are looking for an open floor plan, there is not much that you can do to get them interested in buying your home. An option is to make upgrades to the home that buyers may like, but do not invest too much money into doing this. Everyone’s style is different. You do not want to spend money on improvements if the buyer is going to change it anyways.