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Real Estate Sales Tips <According to data from REDFIN>

In this blog post we talk about useful tips to sell properties quickly and for a good price. While the data and examples we will discuss come from REDFIN, a US real estate company, the conclusions and lessons to be learned from the data are universal. Whether you live in the US or anywhere else in the world, these tips and insights can help you successfully sell real estate.

What is the best day to list a property?

According to data from REDFIN, homes listed on Thursdays have a higher chance of selling quickly and for more money, with over 20% of them being sold above the asking price. This trend is even more apparent in April, where one in four homes listed on Thursdays are sold above their asking price.

Homes that are listed on Thursdays tend to sell for an average of $2,352 more than those listed on Sundays. However, despite this advantage, only 18 percent of sellers choose to list their homes on Thursdays.

In conclusion, homes that are listed towards the end of the work week, particularly on Thursdays, tend to perform better overall in terms of selling price and speed. This can be attributed to the fact that buyers are typically preparing for their weekend of home touring and open-house hopping during this time, making it an opportune moment to list a property.

How to determine the right price?

Testing the market with an inflated price is counterproductive. This is due to the fact that homes receive five times more online views on the first day they're listed than they do a week later. If potential buyers perceive your home as overpriced at the outset, they may not give it another look. Even if you lower the price down the road, you may have already missed the crucial opportunity to catch the buyer's attention.

Are high-quality visuals or photos worth it?

Yes. Homes with high-quality visuals typically fetch more money and sell faster.

Sellers who used high-quality visuals for their listing got an average of $3,400 more for their properties.

Using high-quality visuals can also lead to faster home sales. Specifically, homes with a price range of $400,000 to $499,999 were found to sell three weeks quicker when visualized in a professional quality.

Therefore, it is clear that having high-quality visuals is a valuable investment for those looking to sell their home quickly and efficiently.

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