by TJ AndersonIt’s a funny thing: When you’re young and all kinds of lessons are foisted upon you, learning gets to feeling like a chore. As you get older, and opportunities to learn new skills
How To Set Up Your Nashville Home To Sell More Quickly
by TJ Anderson
This week, WKRN tackled a topic that I think is really important for anyone who’s thinking about selling a home in Nashville to dig into: “Why some Nashville homes are staying on the market longer.”
One key takeaway from the get-go: Yes, even in a hot real estate market like Nashville’s, some homes fly off the market, and others hang around a little longer. That might seem obvious, but I know from experience that plenty of Nashvillians are under the mistaken assumption that any home in the area will sell in a snap.
For WKRN’s piece, the network chatted with Sher Powers, president of the Greater Nashville Realtors, and she made some great points that I’d like to expand on.
But the broader picture that I really want to get across here, which I underline for clients month after month as a Nashville Realtor: Selling a home, in Nashville and everywhere else, is, very necessarily, a bespoke process.
To set up a home for a successful, comparatively speedy sale, the best approach is always a custom one: having an experienced, informed Realtor who knows the market digging into every aspect of the area, the home, the property, and developing a tailored marketing plan for that home, at that moment.
There are trends, and there are commonalities, but those are always, and for good reason, just part of what goes into a marketing plan. Just a few of the key things I think about when I’m working with a Nashville home seller to set up their listing for a speedy sale:
Setting the stage for happy buyers
I wrote a whole blog post a few years ago with “Tips For Preparing Your Home To Go On The Market,” and those are evergreen — deep cleaning, decluttering and depersonalizing never go out of style.
But even before that basic pre-market prep, I’d encourage you to think about some small upgrades and repairs that can or should be made.
Fresh paint makes such a massive difference in making a home sell faster, because buyers immediately feel like the home was well cared for. And taking care of small bits of deferred maintenance is important as well. Little wall cracks and nail pops, doors that don’t close right, leaky faucets — these things all feel like minuscule issues when you’re living in a home, but when you’re considering buying that home, they look like glaring hints at bigger problems. They look like neglect.
Walking through your home, pre-listing, with an experienced Realtor, you’ll get trained eyes pointing out all those seemingly little but actually really impactful issues, so you can make a game plan to remove potential hangups before potential buyers walk through the door.
A good Realtor can also point out some worthwhile upgrades to make — changing out light fixtures, or staging certain spaces — that won’t require you to put in more than you’ll get back.
Setting the right price
This really is key, and it can be hard for Nashville home sellers to wrap their heads around. You hear so much about the hot market here, and maybe a home around the block sold last year for $20K over asking inside of a week, and it all, somewhat understandably, colors your perception of what your home should sell for.
That’s why this is something I go into deep, deep detail with when I’m talking with clients. Mis-pricing your home is what most often kills time, and when time is of the essence, you need to aim precisely for the sweet spot.
Deep detail is essential for getting this right. We’re not just looking at relatively recent comps of a similar size on your side of town. We need to look at how the market’s moving right now, right in your immediate vicinity. We need to dig into the kind of finishes in your home and how they compare with really close comps. We need to consider the age of your major systems, the good and bad about your property, what you have in terms of parking and perks, and on and on.
An experienced Nashville Realtor like me will take every small aspect of your home and calculate carefully, to come up with a listing price that places you among the most appealing homes in your price range, in your area. That's the sweet spot.
Setting your expectations
Something important to remember, too: In a busy real-estate market like Nashville’s, you’ll still see very different experiences across different price points.
If you’re selling a Nashville-area home at an entry-level price point — say, under $300K — the probability of one of those multiple-offers-on-listing-day situations is higher.
As you move into higher price points, things change some, even when you’re priced right.
Higher-end homes in Nashville (say, in the $500K range) can take weeks of focused marketing to find the right buyer. Luxury homes in the Nashville area — homes priced in the multi-millions — routinely stay on the market for months, often well beyond a year. The buyer pool at that price point is simply smaller, and those buyers are usually looking for something very specific.
A good Realtor can give you an honest sense of what the market looks like at your price point in your specific area, and it’s worth listening — having realistic expectations makes the process less frustrating, and easier to plan around.
TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....
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