How To Sell Your Home in 30 Days or Less

It’s not a secret that it’s a tougher real estate market out there (though perhaps becoming less-tough every week). And if you want to sell your home today, there are some key strategies to help you get the most money in the shortest amount of time.

Now more than ever, the most powerful marketing tool to sell your home is the price.

In order to really understand the power of effective pricing, we need to look at some numbers. To make this simple, I will focus on one area (though this type of analysis can apply to all areas).

Earlier this month, after checking the MLS, I saw that there were 135 homes for sale in Brentwood. In the previous 30 days, 27 homes went into escrow and 25 homes sold (closed escrow). Of the 135 active listings, the average number of days on market was 102. That’s three months!

And there are dozens of those active listings on the market for over six months.

In order to sell your home for the best price and in least amount of time we need to look at the homes that sold the quickest. Of the 27 homes that went into escrow last month, 9 were on the market less than 30 days. Of the 25 homes that sold last month, 8 were on the market for less than 30 days.

And here is the kicker: those 8 that sold in less than 30 days sold for an average of 98% of the asking price.

A successful listing prices is one that is not padded. There is little room for negotiation. It is spot-on market value. In other words, the price is COMPELLING.

Why must a price be compelling? There is an overwhelming number of buyers out there and they all want a deal. The majority of homes that are selling are the ones where the buyers come in and think to themselves, “Wow, this is a great deal.” And they write an offer because they feel that the house won’t be there next week.

Contrast that to the house that is over-priced. It sits and sits until the seller lowers and lowers the price until the number makes sense to the buyers. Buyers aren’t motivated to take action because they know it will still be on the market next week or next month.

Just last week a house in Brentwood went into escrow with five offers after being on the market for over three months. What happened? Not one, but two price reductions. The house was in escrow six days after the second price reduction. When the price is right, buyers will write the offers.

If you are a seller today I recommend that you have your agent put together a comprehensive market analysis of your neighborhood. This will include all of the active listings (your competition), the properties currently in escrow and the recent sales. Sit down with your agent and take an honest look at what price will really get your home sold.

If the number is acceptable, put your home on the market (or reduce the current asking price, if that is the case.)

If it is not acceptable, then this is not the right time to sell your home. Schedule a time with your agent to revisit the potential sale in the near future.

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