Listing any type of property successfully requires a strategic seller. If you’re looking into putting your home on the market, keep these tips in mind to make sure you’ll have the upper hand before signing any paperwork.
It’s All in the Details
Listings that are longer and more descriptive usually sell for more. But choose your words wisely: place yourself in the shoes of a potential buyer. Would you rather read about a house that has “potential,” or one that’s “captivating?” Words that suggest the property is more valuable, like “luxurious,” makes people perceive it as such. However, words such as “investment” should be avoided, as this suggests there may be copious renovations that need to be done.
Timing is Crucial
Interestingly enough, homes listed on Fridays usually sell for the highest percentage of the seller’s original asking price. Some say this is due to buyers who work 9-5 being more energetic and enthused about the upcoming weekend—happy buyers tend to be a bit freer with their wallets. On the other hand, Sundays are considered the worst day to debut listings, and Tuesdays are, for some reason, optimal for showings. In terms of seasons, March listings are usually the first to reach closure, while December listings often sell significantly less than average.
Numbers Count, Too
Instead of rounding up to a cleaner-looking number, real estate analysts recommend choosing listing prices with nines in the thousandth digit. The reason behind this is that it leads potential buyers to perceive a much lower price. An example is $699,000 v. $700,000 – even though the difference is extremely insignificant, it’s a psychological trick that actually works, and is used in promotional advertising in supermarkets and clothing stores across the country.