Today’s real estate market is an active one. In many areas, there are more buyers looking to make a purchase than there are available homes for sale. This puts pressure on motivated buyers to act fast on homes to ensure they get what they want.
If you’re thinking of joining the ranks of those looking to sell their home, congratulations! It’s a seller’s market. A seller’s market means that you’re in control of the situation. Selling today puts you at an advantage as many buyers are likely to view your home, visit it in person and make an offer.
However, just because your home is for sale doesn’t guarantee that dozens of buyers are going to flock to it. Every home has features that attract different types of buyers. You’ll still need to prep for a successful home sale, which means attending to items that need to be repaired, cleaned and staged to appeal to the greatest number of buyers.
When your home is for sale, don’t expect multiple purchase offers vying for your attention, either. Not every buyer who views your home will make an offer. And even those who view your home and like it, might not make an offer.
The home seller’s job is to appeal to the widest range of home buyers, negotiate for the best sale price and get to the closing/settlement table efficiently. If your goals are the same, keep reading to quickly get your home from FOR SALE to SOLD.
- Know the competition. Do your local research. Find out what homes like yours in your neighborhood are listing for and selling for. Visit open houses and let us give you recent data. This will help you understand what strengths your home has and what homes may be better positioned than yours in terms of things you can control (price, condition, staging, etc.) and in terms of things you cannot control (location, age of home, school district, etc.).
- Preparation. No one likes to see a construction zone in a home. If you have home projects in the works, complete them before listing. Many buyers cannot envision the finished project when all they see are ladders, tarps, tools and unpainted walls. Likewise, buyers can’t see past clutter and dirt, so clean and clear before the home is listed so it shines in listing photos. Light and bright sells, so work to box up your odds and ends, store them off site, or donate/toss them.
- Pricing right is a home half sold. If you’re going to price your home “high” to test the market, you might be waiting a while for that sold sign as you waste precious time. Pricing a home right—meeting the market expectations, and not pricing it aggressively ahead of the market (to let it languish unsold)—will appeal to the greatest number of home buyers. We can advise you with data to support a price range that will get your home sold for the best price in the shortest amount of time.
- Your first offer is often your best one. Keep in mind that it could be the only one! Don’t take it for granted, but don’t jump at it immediately, either. Consider the costs of continuing to own your home and whether taking this first offer is a good move financially, or if holding out for a higher price with better terms is something you can afford to do. We can help you evaluate every offer.
- Counter all offers. Some home buyers like to test the water. Don’t be insulted by lowball offers. Buyers are often able to spend more on the home but might be curious to see how low they can go. Be respectful, but counter with near (but maybe not exactly at) your best price and terms. (Talk to us for how best to negotiate to get to a signed purchase offer.)
- Work with professionals. We know the local real estate market best and can advise you on what buyers want in today’s homes, what the competition is like, where to invest time and energy in your home and how to negotiate to get a signed purchase offer. You’ll feel like a million bucks when you sign on the dotted line at closing/settlement.