By Mandy Lunnon-Wier, Realtor, Lunnon Realty
We are in an obvious seller’s market. Property inventory is at an all-time low. Homes are flying off the market in just a few short days. Multiple competing offers are commonplace. Buyers are making huge concessions to win deals. It may seem like all your have to do is put up a “for sale” sign in your yard before you are dancing all the way to the bank. However, we know that buyers are still not settling for a home that doesn’t sit right with them. If you want to see the highest profit, there are steps you should take when considering selling your home.
- Call your trusted Realtor. There is a reason this is first in the “to-do” list. Your Realtor can provide information on recent sales in your neighborhood, offer specific suggestions for staging your home, and market your home when you list it for maximum visibility.
- Stage your home. Even though buyers are quickly snatching up most homes on the market, the ones that show the nicest sell the quickest and for the most money. Make sure a buyer’s first impression of your home is positive by making the yard look clean, tidy, and hassle free, and cleaning the front door (maybe even give it a fresh coat of paint or stain). Inside the home, declutter as much as possible. If you don’t use it every day, it should go to storage. Remove items from counters, and arrange furniture to give an open feel and flow to the home.
- Clean. Buyers will be opening closets, cabinets, and window coverings, so make sure even the hidden elements of your home get your cleaning attention.
- Price the home correctly from the start. Even when priced correctly, only about 60% of qualified buyers will view your home. If your home is overpriced by 10%, that number of qualified buyers is reduced to 30%. Since most activity on your home will occur within the first two weeks of listing the property for sale, it is critical to have the largest buyer pool possible from the very beginning. Additionally, it has been statistically shown that if you overprice your home and then must reduce the price over time, it’s more likely that the “winning offer” will be near the bottom of market value. Your Realtor is an expert in pricing homes by analyzing comparable sales in your area. They can walk you through the complexities of pricing at market value, which is the intersection of a seller’s desired price and the buyer’s desired price.
It’s a good time to sell – there is no doubt about that – but it is important to still keep the buyer’s experience in mind to accomplish your goal of receiving the highest and best offer possible, as quickly as possible. While it’s true that we are currently in a seller’s market, the best transactions are those that end in a “Win-Win” for both the seller and the buyer.
Are you considering selling your home? Let us know, and we’ll share an even more robust list of items to consider when staging, cleaning, and pricing your home.