Most home sellers and real estate agents agree that the asking price of the home should be set at 5 percent to 10 percent above what the seller would actually accept, according to a survey commissioned by RealEstate.com, which is owned an operated by LendingTree LLC.
The survey asked 500 recent home sellers and 100 active real estate agents about a variety of elements involved in selling a home.
About 65 percent of home sellers said that hiring a real estate agent to facilitate the sale is the best way to get the process off to a good start.
Despite recent reports of housing booms and hot markets with inflated prices, 37 percent of surveyed sellers reported selling their homes at the list price, and more than half of the overall respondents reported selling at or below $250,000 (57 percent), RealEstate.com announced today.
“Selling a home can be an anxious and intense time for homeowners – and there aren’t nearly as many resources available to today’s home sellers as there are to home buyers,” said Holly Slaughter, brand manager and consumer experience expert at RealEstate.com. “Sellers who look to real estate agents for expertise about specific markets, tips and advice often know the key steps to address that many often overlook, giving them the leg up they need to stand out and sell their homes.”
Other survey findings include:
- The length of time needed to sell a home varied between sellers and real estate agents. Thirty-three percent of sellers reported that their homes sold within the first two weeks of putting it on the market, with another 27 percent citing homes selling within the first month. On the other hand, 41 percent of real estate agents suggest budgeting 2-3 months from the time you put your home on the market to selling it.
- Sellers and real estate agents agree that the local school system is the most important factor that buyers consider when choosing a home (48 percent sellers, 40 percent real estate agents).
- Fifty-five percent of real estate agents felt that having a comprehensive comparative market analysis (CMA) done is a very smart thing to do before selling a home.
- Real estate agents and sellers report the kitchen is the room that prospective home buyers care most about (59 percent sellers, 37 percent real estate agents).
- Fifty percent of sellers and 38 percent of real estate agents said