It’s all over the news, it’s a sellers’ market! So that should mean that deciding to sell your home is a pretty easy decision, right?
Think Again.
While getting an offer on your house is about as easy as it gets, that’s just one small piece of the puzzle. I find many homeowners I talk to still have several concerns about what selling will look like for them, AND more commonly, where will they move if they sell. So, I thought I would let you in on the conversation, with 4 tips to selling your home in this crazy market.
- Have a plan first
Before any homeowner should list their house, they need to have a plan. That plan should include whether they plan to rent or buy after selling. If buying, they need to know if they can qualify to buy before selling, or if they need to sell first. Have a plan for what areas you’re looking in and how competitive that marketplace is, as competition does vary zip code to zip code. Once you start answering these questions, we can tailor a listing that meets your needs and, in this market, you can usually get all of your needs as a seller covered!
- Ask Homebuyers to solve your problems
That’s right. Ask the new owner of your home to make the transition easy for you! How does that look? You can ask to stay 30,60,90 days in your home after closing, sometimes even rent free. You can price your home such that buyers can confidently waive an appraisal contingency, leaving less opportunity to last minute cancellations. You can essentially tailor a transition to your needs, advertise those needs in your listing and expect buyers to comply. All of this assumes you price your home correctly.
- Price Your Home Correctly
Some might think any price tag will get offers in this market, and that is NOT true. There is still 10-20% of our inventory that is sitting on the market beyond 60 days. Days on market nearly always reflect an issue in price. A pricing strategy not only will get you the highest & best value for your home, but it will also ensure you can get that price on the terms that fit your needs. (Like the closing, renting back, waiving contingencies). Your pricing strategy often not only reflects in price, but in the likelihood of closing with the first offer.
- Work with a Pro
This may sound salesy or biased, but homes DO NOT sell themselves in this market. Can you get an offer without an agent or on a limited-service company? Sure. Will it close? Not likely. This market is ripe with buyer indecision, constantly changing trends in appraisals, terms, and more. A professional realtor will not only help to get you 15-20% more than selling yourself, but they will also set up you to get to closing when planned. They can walk you through the process of trading from one home to the next and make it seamless. They will help you avoid legal pitfalls and protect your best interests above all else.
Selling in this market may not be as easy as the media makes it sound. However, it may be the most profitable time to make a move. Capitalizing on historic equity gains and low interest rates at the same time makes a lot of sense for many homeowners. If it’s something you’re kicking around, let’s set up a free consultation call. We can dive into whether it makes sense for you to sell now, and what that will look like for you!