take more time to sell. Most expired listings (homes that did not sell in their primary listing) are generally homes that were lived in by tenants or the homeowners themselves at the time of the listing. For example, a recent analysis conducted on the Portland real estate market revealed specific success and failure rates associated with selling vacant, seller-occupied, and tenant- occupied homes. It showed that vacant homes had a higher success rate (83%) of sale compared to seller-occupied homes, which had a 75% success rate. Tenant-occupied homes had the lowest success rate (63%), with a failure rate more than double that of vacant homes. This suggests that vacant homes may indeed sell more effectively than their owner-occupied counterparts. Any challenges that exist for selling vacant homes are easily overcome with home staging, which we will discuss in more detail in the coming pages.
MOVING OUT WHILE S T WHILE SELLING
A psychological benefit of moving out of your home while it is on the market is that it signals a “motivated seller” to potential buyers. An occupied home does not give as strong of a message that the seller is motivated to sell and ready to negotiate. A home that’s still full of your belongings and looks lived in, doesn’t signal this same kind of sense of momentum toward a sale. If you’re planning on putting your home on the market soon, it is best to do so after you have moved into a new place. This way, prospective buyers will be able to see that you are ready to sell, finalize, and close the deal as soon as they are ready to go. This will also help in staging the home with furniture and decor. If the agent or you have decided that the house should not be staged and instead remain empty, then all the better. Minimize furniture within the home when you move out. This will help buyers to picture where their furniture will fit into the home, even if they do not like what you currently have.
11
Powered by FlippingBook