3 Things to Know If Your Home Is On The Market

What to know if you're trying to sell your home right now in today's difficult market? There's three critical pieces of information that you should be getting each and every week. The first, you should know and understand all of your competition, all of the properties that you're competing with. Anything within a half to a mile away from your property with similar square footage and pricing, anywhere from 25 to 30% above and below.

From there you want to understand and actually go to these properties. You want to walk each and every one of them. You want to understand and see what the differences are, what things do they have better? What things are worse. You want to understand is what the views look like versus yours. You want to understand is there traffic or road noise that yours doesn't have?

But you absolutely want to walk through them and look at them through the eyes of a buyer and understand what the differences are of each one. From there, you want to track each of these competitors and these properties. You want to know, did they go into escrow? Did they close? And if so, at what price? If they're not selling, the one thing you absolutely need to know is how many visitors, how many buyers have actually come through their properties so that you can compare it to yours?

Did they have more showings or less showings than yours so that you can make adjustments and figure out what's going on? The other thing you want to learn is have they received any offers? And if they have, what are those offers at? Because this is actually the market speaking to all of the home sellers out there. And you want to understand which properties are getting offers and at what price.

You don't know that if you if they're not selling. The second thing you want to know or the second most critical piece of information is you want to know what's going on the market each and every week. Sometimes in this market, I'm updating my sellers every couple of days. Now, first, I'm talking about national news and which may affect buyer activity, such as the Fed rates going up or down.

You want to talk about or understand and know what's generally going on in the county. Are sales up, sales down, less buyers, more buyers, more listings, less listings? You want to also know what's going on in your specific zip code because each and every area is different from each other. And last, you want to know what specifically is going on in your neighborhood and what the activity is there. And you should be getting those updates each and every week.

The third thing that you want to know when it comes to your property is you want to know all of the feedback from each and every buyer who has been through your house or through an open house. And what I mean by that is you don't want the positive feedback.

Sometimes agents will call you and say the buyers sell your home, but it just wasn't right for them. No, that's not the information you want. You want to understand from these buyers what do they not like about the home? What's prohibiting from them? From writing an offer. If they were to write an offer today, at what price? If they wrote an offer on another property, why that one and not yours?

All of this information is critical for you understanding to know what changes to make in order to get your home sold. Now, there's several other pieces of information that you should know if you're on the market, if you're interested in hearing about that, please reach out to us and we'll let you know.

But the last question people ask me is, how do I get this information? How do I know my neighbor's home that's down the street? How how do I know how many showings they'd had or what offers? Well, that comes down to your agent reaching out and gathering that information for you and providing it to you each and every week. So make sure your agents doing this so you have a full accounting and know all of the pieces of information that you need.