Since our current market is so competitive, many sellers may have misconceptions about what’s going on and what they should do. Today we’ll sort fact from fiction when it comes to selling your home in a strong seller’s market and provide you with key tips to help you get the best outcome.
Many sellers are reluctant to list their homes because inventory in our market is so low that they think they won’t be able to find another home to buy. To help make this transition easier, start looking for your new home at least two months before you decide to put your current home on the market. That will give you an opportunity to view the homes in the market and make sure they’re at the price point you’re searching in. It also gives you time to prepare your home before putting it on the market so that you can get the maximum value out of it when you do sell.
In real estate, we’ve been told that the difference between selling a home and not selling it hinges on price and condition. Do those things still matter in today’s market? Yes, they are still very important. Buyers are concerned about overpaying for a house and don’t want to sink a ton of their own money into improving it once they’ve bought it. In this competitive market, they’re not willing to settle. If your home doesn’t match the quality of the other homes in the neighborhood, you’re guaranteed to have your listing sit on the market. Make sure that your home is priced appropriately and put as much effort as you can into improving its condition if you want it to sell for the highest possible value.
Lastly, some sellers may feel the temptation to sell their home without the help of a Realtor, also known as selling “For Sale By Owner” (FSBO). The logic is that by selling on their own, they can avoid paying Realtor fees and commissions. The reality is that if you choose to sell without a Realtor, you’re losing out; real estate professionals know a lot about the market that you may not.
The National Association of Realtors said in their annual survey that 87% of respondents use Realtors to assist them. Take advantage of the resources available to you by working with a Realtor. We know the market and can help you with your transaction, including making sure your home is priced correctly and is in the best possible condition.
No matter if you’re thinking of buying or selling a home, make sure to reach out to us. We’d love to help you.