The 5 P’s to selling your home in New Milford, CT

Selling your home in New Milford, CT. What are the most important things to know before you put your home on the market?

When I get a call from a prospective seller, the first thing I do is to take a hard look at the most recent local real estate statistics to understand the market at that particular moment in time.

I did my November 2012 monthly market report for New Milford, CT, I was re-reading it today, taking a harder look at what those numbers really represent. Statistics by nature can be very, very confusing and can be read in a variety of ways. I am always looking for a way to really understand a market that often seems to have no rhyme or reason. Perhaps someone who is a statistician will read something else into it, but for me the story is crystal clear.

The 5 P’s are what it takes to sell a home in New Milford CT.

Pricing Strategy

The price must be attractive to a buyer, point blank. The price must reflect current market conditions, the price must reflect the condition of your home, the location of your home in your market, the neighborhood, the side of town, etc. We look at homes that have sold recently that are similar to your home, then we look at the active competition. We also discuss your motivation for selling and your time frame. All these are very important factors when pricing a home for sale.

Buyers think it is a great time to buy right now. So, if you want to get them to buy your house you need to be on their page! Read The Great Real Estate Divide to understand the divisions between buyers and sellers. Perhaps a shift in your thoughts might help!

Preparation

You must prepare your house for sale. Clean it up, make each room clear as to its purpose. The trend I have seen lately is to use the dining room for a play area. As a matter of fact, in three homes that I have seen recently there was a play dining set where the dining table should have been. This is not a good idea, it says “we have no playroom so we gave up the dining room to the kids”… or “the playroom upstairs is a bad idea so we let them have our dining room”. Of course maybe the next family will do just that, but you want them to see the potential of the home in the best light possible.

A very good post on staging your home can be found here, written by my friend Janna Rankin Scharf from Couer d’Alene, Idaho. She spells out very clearly what needs to be done to prepare your home for sale, without breaking the bank! “Set yourself up for SELLING SUCCESS with these staging tips”.

Patience

You must have patience. The real estate absorption rate in New Milford stands at 10 months right now. That means if no more homes come on the market it will take us 10 months to sell all the inventory we have right now. I have seen it higher, but the amount of homes on the market has dropped. In November it took an average of 117 days to sell a home. Again, that is lower than it was, but it is still high, when combined with the absorption rate.

Prolific Marketing

That’s what we do. We get your home in front of as many buyers as possible, in the best light possible. We take professional photos, we have awesome tools that we use to promote your home in a variety of ways for buyers to find. I am more than confident about our marketing program, we are reaching as many buyers as possible, and your home will be shown in its best light. No dark photos, corners of rooms, out of focus shots. I will show you how a buyer will find your home online, how we use signage to allow buyers to text and get information instantly about your home. We blog, we push, we talk it up, we will do what it takes, 24/7, to market your home until it is sold.

Check it out for yourself and see what it is we do that is different from the rest! Download SPA Real Estate Marketing Program.

Pliability

You must be pliable, flexible when it comes to selling your home in New Milford, CT. Allow showings when it is convenient for a buyer, not when it is convenient for you. Keeping a close eye on the market to make “course corrections” for price is also very important.

If you want to talk more about selling your home in New Milford, or southern Litchfield County, give us a call at 860.946.0686. We can discuss the 5 P’s to selling your home!

Originally posted at “The 5 P’s to Selling Your Home in New Milford, CT”

 

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