Selling your house ... how long will it take?

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How long will it take to sell your house? Realistically the length of time your home is on the market is dependent on many variables. Some are within your control but many are not. The key to a faster sale is to take an honest look at your specific situation in light of the following market influences.

The Averages: The average time that it takes to sell a house in your community and price range is a "rule of thumb" measurement. Don’t put too much weight on it. In determining a framework on which to base your expectations, you need to be aware of other market factors.

The major market influences are:

Timing: Timing is everything. In your golf swing, turkey cooking and real estate sales. The basis of strength in the housing market is no different than most markets and that is supply and demand. In real estate, supply is the number of homes on the market and demand is the number of buyers for those homes. Of course this effects market momentum which will determine how long your home takes to sell. Supply and demand are constantly in flux as conditions change. Depending on when your home is for sale, supply and demand can work either for or against you. Barring other extenuating circumstances, the real estate market tends to trend with the seasons. The early spring is typically the very best time to sell your home, followed by early fall. November, December, June, July and August are usually slower months.

Competition: In a competitive environment a sale occurs when one product beats out another, either by price or superior features. Most homebuyers are not impulsive, but shrewd comparative shoppers. Your decisions about other factors will determine how well your home will stack up against the competition.

Price: Ultimately the selling price is an agreement between the seller and buyer as to value. Many things contribute to this final agreement, including timing and competition. What is the right price? The right price is the sale price. One thing we do know, if the comparable properties will sell at a lower price, buyers will buy them before your home.

The Property: On occasion, some sellers forget what it means to be a buyer. Sellers are often reluctant to invest $500 for a needed paint job that will yield $1000 net and possibly lead to a faster sale. It usually comes down to a choice of either correct it or adjust the price. Furthermore, in some cases a property may have negative influences to overcome. Some might be corrected while others may not be. Examples are; busy streets, a poor floor plan or even unkempt neighbouring homes. If an influence cannot be corrected it must be compensated for in some way.

The Economy: An adverse financial atmosphere slows markets. Interest rates are a barometer that reflects the health of the housing market because it directly determines the dollars that buyers can spend for your home. Also a negative outlook and unstable work environment will effect your home sale dramatically.

Marketing: You can have the best home on the market but if nobody sees it your home won’t sell. Evaluating market conditions is the door that leads to a faster sale but exposure is the key that will open that door. More exposure means a faster sale. Print ads, Internet presentation, open houses – they all play their part. The fact is though that professional, full-time realtors sell most homes and how your home is presented to realtors can make or break your sale. There is a powerful sales force of 4500 realtors in Calgary that can be working towards the sale of your home through the multiple listing service. You are at a disadvantage if they do not know about your home. Picking the right agent to represent you is critical. A reputable agent that works with a recognised company will help. If an agent has a reputation of embellishing the facts his peers may not believe him when he describes your beautiful home. Experience plays a part as well. Your realtor can have all the right tools but if the skill is not there the job may not get done. A creative and effective marketing plan, understanding market nuances and negotiating abilities are all honed over time.

If you are considering a move, you are welcome to call for a consultation about your home. It would be my pleasure to be considered as your real estate professional. I believe in getting the job done efficiently and effectively. My plan to market your home is not like the average realtor’s plan and it results in far better than average results. My commitment to you is backed up by my performance guarantee, "If I don’t do what I say you can cancel our agreement on the spot."