The average homeowner has a net worth over 40 times greater than that of a…
With home values soaring, low inventory and buyers lined up around the block, this might be the best time in history to be a home seller. If you’re considering selling your home, here are some tips on how to make the most of a seller’s market:
Price It Right
Pricing your home properly is the best way to generate the most interest from buyers. Pricing too low could cause you to lose out on money, but if you’re priced too high, you’ll lose out on buyers. Fortunately, your real estate agent is an expert at pricing homes correctly and will help guide you through the process. When working with your realtor to price your home, you’ll want to consider other comparable homes, keeping in mind these similar features:
- Square footage
- Number of bedrooms
- Number of bathrooms
- Garage spaces
- Property type (single-family home, condo, etc.)
- Additional amenities (pool, floor plan—2 story, ranch, split entry, etc.)
Taking the time to research this information so you can have your home priced right as soon as it hits the market is the best way to ensure your home will sell quickly and for top dollar.
Don’t Do It Alone
When the market is hot, it may be tempting to try selling your home yourself in hopes of saving some money. However, homeowners who FSBO (For Sale By Owner) end up making less money than if they hired a real estate professional to do the job. According to the National Association of Realtors, the typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales. In addition, FSBO homes took significantly longer to sell than those assisted by a real estate agent. If you’re considering going the FSBO route, you’ll also want to keep in mind the additional work-load of selling a home yourself—staging and prepping your home, managing home showings, fielding calls and emails, handling negotiations and all paperwork involved throughout the process, etc.—while trying to balance your other day-to-day obligations. When you work with a real estate professional, they do all of those things for you and more!
Accommodate Home Showings
The more people who see your home in person, the more likely you’ll get an offer. While it may become inconvenient at times, you should try to accommodate all showing requests to make sure you don’t miss out on potential buyers. Your realtor will work with you to schedule showings, making sure it doesn’t become overwhelming. Luckily, homes are selling quickly in the current seller’s market, so this inconvenience likely won’t last long.
Be Prepared To Move Fast
As we mentioned, in a seller’s market homes are typically selling fast. You will need to be prepared to move very quickly. It is best to know where you will go next before listing your home for sale. Work with you realtor to plan ahead so you are ready to move before selling your home.
Ready to sell? If you’re ready to start the process of selling your home, let’s chat! Our Dream Homes by Jen team is ready to help you navigate the home-selling process. Contact us today!