You are a seller and you have felt the market softening. What is your best approach to get your home sold? What should you do to stay competitive and a avoid sitting on stale listing? Remember that it is still a solid time to sell your home. Here are some suggestions to get your home sold in the market today.
Price realistically
Prepare your home
One of the most important things that you can do to sell your home in today’s market is to price your home realistically. Gone are the days when you could aggressively overprice your home and you will still get an instant bidding war. Today it is important to price your home right. That does not mean price it in hopes of having room to negotiate. Inventory is rising and that room to negotiate may mean the difference between getting an offer and sitting on the market.
Another way to make sure your home sells is to prepare your home for sale. Buyers are drawn to home that are move in ready and clean. The basics matter. Be sure that you have your home staged with quality, professional photos and you have curb appeal. A strong first impression can really bring a quick offer.
Know your market
Because our market is a bit soft, it is very important to know your market. In some price ranges and some neighborhoods, homes are still moving fast. In others, they linger. Make sure that your agent knows the market and can educate you on what to expect and can help you navigate the nuances of the market. Make sure your agent has enough experience that they have seen this type of market before. Then let your agent be your guild for pricing, marketing and timing strategies.
Don’t panic
Just because buyers are gaining some leverage, this does not mean that as a seller you are at a disadvantage. Adjusting to this new reality does not mean giving up value. Well prepared, fairly priced homes are still selling. The market is not suddenly favoring buyers. The reality is more nuanced. We have had a strong sellers market since 2016. Today the market is more of a transitional market. Sellers need to adjust expectations. It is not realistic that you will get multiple offers that push the value over asking price.
Whether you are buying or selling do not count on the headlines to provide you with an accurate picture of the real estate market in your area. Contact an agent that can educate you on local trends and understand the intricacies of your specific market.