How to Sell Your Home Fast, At the Highest Price

Three tips to help home sellers navigate today's complex market

If you are hesitating to sell your home this year then you're not alone. For every real estate "expert" who says it's a great time to sell, you can find another who says exactly the opposite. In the face of so many differing opinions, whom do you believe?

An article by the National Association of Realtors® in January 2007 indicated, "consumers are beginning to respond to more favorable housing market conditions." The report goes on to say "existing home sales are expected to steadily increase into 2008."

During the past year the gap between home sale prices and the price homebuyers were willing to pay grew significantly. In August 2006, HomeGain reported its home sellers were anticipating sales prices that averaged over 18% higher than the price buyers actually were paying. The beginning of 2007 shows many sellers have changed their expectations, as the gap has closed to 14% based on a nationwide year-to-date average sales price of $234,308 vs. the average desired price of $273,924. That's a difference of over $11,000 in the sale price of the average home. As buyers and sellers continue to move closer together in their price expectations, the real estate market will just naturally improve.

If you need to sell your home, or decide to sell regardless of local market conditions, what should be your best approach?

Here are three tips to help home sellers navigate today's complex market.

1. Price your home right for the market.

Be realistic when setting your home's price. One of the biggest mistakes you can make is to overprice your home. Today's buyers have all of the information you do at their disposal through the Internet and their agent. They have little motivation to rush into a purchase since prices are stable or declining.

2. Prepare your home for sale.

Follow your agent's advice when they recommend improvements that will make your home easier to sell. Most experts agree such improvements can make the difference between having a SOLD sign on your property or watching as your neighbor (who took the time to fix up their home) plants one on theirs.

3. Get an agent who will market your home using both online and offline resources.

An agent who isn't using the Internet will not find all of the buyers who may want to purchase your home. With 77% of homebuyers beginning their home search online, the Internet is a prime vehicle to promote your listing. If the agent doesn't use the Internet, choose another agent who does, or you will miss opportunities to sell your home.

Lastly, put yourself in your potential buyer's shoes. Ask yourself, "What would it take for me to re-buy my home, and at what price, compared to my neighbors?"

If you can honestly answer that question, you'll be well on your way toward selling your home.