Why do some homes in a few days or weeks and other homes stay on the market for month? Realtors will tell you that if a home doesn't sell within 90 days it is probably overpriced. Too high an asking price is not always the reason a home doesn't sell.

Whether you get top dollar for your home will depend on many factors, such as physical condition of your home, the supply of home for sale in the same area, the number of buyers in the marketplace, the marketing skill of your real estate agent to market your home to as many buyers as possible and the desirability of your home compared to other homes for sale in the same area.

1. What do today's home buyers want?

Builders can offer what most buyers want which is "lock and key".  Just unlock the door, move in and enjoy.  Buyers are ready and willing to pay top dollar for the near perfect home.  Builders offer incentives like free upgrades, help with buyer closing costs, gift cards, and more. 

Most home owners offer "fixer-uppers" or a home with cosmetic and even structural problems.  When looking at the MLS (multiple listing service), phrases like "carpet allowance", 24 hour notice for tenants, "AS IS", "allowance for water damage", "recommend hard hat", "water damage", "please read mold disclosure form", and "fixer upper not for the faint of heart".  These are just a few but they can scare off many buyers. 

When the market gets slower and tougher so do the buyers.  They know it's their market and they want to take advantage of it.  Most buyers that want a good deal and when don't mind repairs are usually thinking about painting a few rooms and having the carpet professinally cleaned.  Anything beyond that,  will mean offering a much much lower price than the sellers price.

2. Pretend you are the buyer and look at your home through a buyer's eye.

Walk through your home with a notepad and write down the good an bad aspects of your home. Look at the paint, the carpet, the clutter, and the repairs needed.  Be honest and objective.  Most homes need fresh paint, maybe new carpet, unclutter rooms with too much furniture, clear counters in the kitchen, get new rugs and shower curtain for the bathroom, and spruce up the yard.

3. Pay for a Home Inspection

ellers are often surprised when they receive a home inspection report where the inspector finds unexpected defects.  Most agents recommend buyers to pay for a home inspection to uncover any problems and needed repairs.  This is also something that would be a good investment for the seller to purchase.  The cost is minimal compared to the sales price of your home.

 4. Marketing your home

Once your home is in excellent condition, talked with at least three successful realty agents about listing it for sale. Each agent should give you a Comparative Market Analysis (CMA) that will show recent sales prices of nearby comparable homes, asking prices for homes in the area, and the agent's opinion of your home's fair market value. You can see the market values vary from house to house.  Select an agent who you feel can make things happen.

5. Offer financing

If you want to sell your home quick, offer seller financing or even a lease purchase.  If you don't need to sell your home for the cash.  Also offer to pay some of the buyer's closing costs.  This especially helps first time home buyers.

6. Don't get too greedy

Now that your home is ready for buyers to see, look at the CMA report of home sales in your neighborhood over the past six months.  If the home sales in the area are good, you home should sell in the first 90 days.  Remember, buyers typically have access to same recent sales in the area so do not price too high.  Pricing too high can also cause you to miss buyers because your asking price is just outside their price range. 

After several weeks of showings you received an offer. Since you've listed your home at a realistic price, just slightly above its market value as shown by the CMAs you received, you're insulted by the low offer. You want to counteroffer at the full asking price. Instead, your agent counsels you not to get greedy if you really want to sell. So you make a more reasonable counteroffer below your asking price. After some haggling back and forth, you and the buyer agree on a price. Congratulations!
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