How to Take Advantage of This Seller’s Market
If you didn’t know, we’re currently in a seller’s market. This is because there is a shortage of homes but there are tons of people looking to buy. So, if you’re thinking of selling your home and cashing in, you’ll want to take some of these tips into consideration to maximize your efforts.
Find Your Strategy
Currently, many homes are on the market for two weeks before they’re sold (above the asking price). While a quick sale is nice, an important factor is the initial asking price. Understanding your home’s value, what it may appraise for, and what other homes are selling for should all factor into your initial asking price. Listing too low may get many buyers interested and start a bidding war. Starting too low may also entice people to lowball you because your offer is already low. Pricing on the higher side may yield a higher return or it could take weeks or months to sell based on the price. Once you pick a strategy be sure to stick to it. You don’t want to list your home on the lower end and when higher offers start to come in, you raise the price. Alternatively, you don’t want to price too high and have to lower the asking price. Buyers can see this and may become turned off by your actions.
Real Estate Agent
When it does become time to sell your home, will you opt for an agent or sell it on your own? If you choose to sell on your own, make sure you understand upfront how much work will go into the transaction. You’ll need to market the property, schedule showings, handle all paperwork, and the hardest part, analyze every offer that comes in. When you sell your home on your own, many times there are personal attachments that come up. It becomes hard to detach ourselves from the place we’ve called home for years and years. There are sure to be memories and heartstrings that are pulled when looking through offers.
If you opt for an agent, meet with them before signing any paperwork to get a feel for them. While every agent will tell you they can sell their home, you don’t want to work with someone on an intimate level who is rude, nasty, or just downright unpleasant. Plus, some agents may have their own niche. Selling older victorian homes is much different than a new build. There are different home styles and different types of buyers to be on the lookout for. Meet with your agent, understand what they can provide and what they’ll be taking care of. As an agent, our job is to handle the “dirty” work so you can sit back, relax, and watch your home go for above the asking price (ideally). If you’d like additional information or would like to get a conversation started, I’m happy to help!
Clean Your House
Selling your home comes with its own barriers, don’t create another one by showing a dirty, cluttered home. If there are a few knicks or dings around your house, try fixing them prior to listing your home or showings. While you can’t hide material facts that impact the overall structure of the home, touching up walls with paint, fixing the squeaky door, and fixing that pesky kitchen tile are all things that will help increase the chances of you selling your home. Cleaning countertops, floors, the patio, closets, windows, you name it. If you can’t remember the last time you dusted or cleaned something in your home, it’s time to clean it.
Who doesn’t love natural light? When showing your house let that light shine! Open your curtains, blinds, shades, windows, etc. Natural light helps open up space and liven up the room. If there are places in your home that don’t necessarily get a lot of natural light, try placing a light in that area and turning it on during showings so it appears brighter than it actually is.
When people come to look at your house, the first that they see is the house itself. It sounds dumb but if the house doesn’t have “that look”, your first impression is blown. It doesn’t matter if the inside is the most gorgeous piece of property they’ve ever seen, if the outside doesn’t look right they’re not interested. Touching up the exterior’s paint, fixing the shutters, siding, roof, etc, all help improve curb appeal. Plus, if you just put some money into improving your home’s look, you may be able to ask a little more to help offset the cost of the recent improvements.
If you don’t know where to get started, do some additional research or schedule a call with a real estate professional. Talking to an agent doesn’t bind you to any contract or cost a thing. You want to be an informed seller and understand what you’re getting into before signing on the dotted line. It’s easy to see the dollar signs but many people often overlook the process that leads to a completed sale. It’s important to set and understand your expectations upfront. Learn more