{"id":3651,"date":"2018-08-16T08:56:57","date_gmt":"2018-08-16T12:56:57","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=3651"},"modified":"2021-11-23T17:11:41","modified_gmt":"2021-11-23T22:11:41","slug":"fast-home-sale-tips","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2018\/08\/16\/fast-home-sale-tips\/","title":{"rendered":"Fast home sale tips"},"content":{"rendered":"
\"fast<\/a>
Average Days on Market (infographic from keepingcurrentmatters.com)<\/figcaption><\/figure>\n

Although the volume of home sales is below last year\u2019s figures, most homes are still selling.\u00a0 Of course, home sellers would prefer to have a fast home sale. When meeting with potential listing agents, home owners are typically overwhelmed by agents promoting their broker\u2019s technology<\/a>.\u00a0 But the research is clear that it\u2019s not technology that sells homes, but rather your MLS listing content and the audience<\/a> that can sell your home fast.<\/strong><\/p>\n

Three years ago<\/a>, I introduced cutting edge research by Allen, Cadena, Rutherford & Rutherford (Effects of real estate brokers\u2019 marketing strategies: Public open houses, broker open houses, MLS virtual tours, and MLS photographs<\/a>; The Journal of Real Estate Research<\/em>; 2015; 37(3), 343-369).\u00a0 Although the study focused on the listing agent\u2019s motivations about spending money on promoting your home, it did shed light on the effectiveness of marketing staples such as: broker open houses, public open houses, MLS photos, and MLS virtual tours.\u00a0 Although these tactics may not promote a fast home sale, the study revealed that all four methods used together positively influence the home sale price.<\/p>\n

They found that having six or more MLS photos increases the probability of a selling your home, as well as positively influencing the sale price.\u00a0 Having a virtual tour can decrease the home\u2019s time on market as well as increasing the probability of selling. \u00a0Having open houses can help sell your home at a higher price, but can take longer to sell.\u00a0 Contrary to conventional wisdom, having public open houses<\/a> can increase your home\u2019s time on market up to twenty-five days, while reducing the chances of it selling by 6.1 percent! \u00a0Broker open houses also adds to the time on market, however increases the likelihood of selling your home.\u00a0 The conclusion was that all four tactics should be considered as a package if your goal is to get top dollar.\u00a0 However, if your goal is a fast home sale, your focus should be elsewhere.<\/p>\n

Do pictures help with a fast home sale? A number of studies found that MLS photos and virtual tours have positive effects to home sale price, but are conflicted with regard to time on market.\u00a0 However, a study conducted by Benefield, Cain & Johnson (On the Relationship Between Property Price, Time-on-Market, and Photo Depictions in a Multiple Listing Service; The Journal of Real Estate Finance and Economics<\/em><\/a>; 2011; 43(3), 401\u2013422) indicated that having more photos of the home\u2019s interior can increase the time on market.<\/p>\n

A study published this year suggests that getting more real estate agents to view your MLS listing can sell your home faster.\u00a0 Allen, Dare, & Lingxiao (MLS Information Sharing Intensity and Housing Market Outcomes<\/a>; The Journal of Real Estate Finance & Economics<\/em>; 2018; 57(2), 297-313) found that just increasing the MLS listing view by one unit can increase the probability of selling your home by 5.7 percent, increase the sale price by 0.2 percent, and reduce time on market by 1.6 days.<\/p>\n

A fast home sale<\/h2>\n

So, what does all this research mean to you if you’re selling your home<\/a>?\u00a0 First, consider that your agent\u2019s marketing strategy will certainly affect your home\u2019s sale price and days on market.\u00a0 While possibly helping to get a better sale price, the research has demonstrated that having a broad marketing plan could increase your home\u2019s time on market.\u00a0 To decrease the days on market and increase the probability of a sale, pay attention to the pictures and audience.\u00a0 Make sure your agent places high-definition photos of your home in the MLS, but limiting shots to the most relevant.\u00a0 Also, make sure your agent has a plan to get your MLS listing in front of other agents.<\/p>\n

Original published at <\/span>https:\/\/dankrell.com\/blog\/2018\/08\/16\/fast-home-sale-tips<\/span>\/ \u200e<\/span><\/p>\n

By Dan Krell.
\nCopyright \u00a9 2018.<\/p>\n

If you like this post, do not copy; instead please:
\nlink to the article<\/a>,
\nlike it on Facebook<\/a>
\nor Twitter<\/a>.<\/p>\n

\"Protected<\/a>Disclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although the volume of home sales is below last year\u2019s figures, most homes are still selling.\u00a0 Of course, home sellers would prefer to have a fast home sale. When meeting with potential listing agents, home owners are typically overwhelmed by agents promoting their broker\u2019s technology.\u00a0 But the research is clear that it\u2019s not technology that … <\/p>\n

Continue reading “Fast home sale tips”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[123,382,8,32,256,367,13],"tags":[865,912,794,797,517,507],"class_list":["post-3651","post","type-post","status-publish","format-standard","hentry","category-home-sale","category-home-seller","category-home-seller-tips","category-home-selling-strategy","category-home-selling-tips","category-homeseller-tips","category-real-estate","tag-home-sale","tag-home-seller","tag-home-seller-tips","tag-real-estate","tag-selling-a-home","tag-selling-strategy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-WT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/3651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=3651"}],"version-history":[{"count":11,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/3651\/revisions"}],"predecessor-version":[{"id":6245,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/3651\/revisions\/6245"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=3651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=3651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=3651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}