The market is still going strong in 2021, and whether you are planning to upgrade, downsize, or relocating to another area, here are some tips for making it a smooth transition.
Consult a professional and weigh your options – As a seller, you may have several options available to you. Seeking the advice of a Realtor to discuss your options and which will work best for your particular situation is key.. Then once your plan is in place, they will be there for you through the process, every step of the way.
Know where you are going – In this market, if your home is priced correctly, you can expect to sell quickly, so if you plan to buy a home while selling your current one, it’s critical to have a strategy in place for making the transition BEFORE you sell. Remember that, as a buyer, you’ll be facing the same competition as the buyers who are looking at your home. Having a strategy in place is especially true if you need the equity in your current home to purchase a new one. Given it is a seller’s market, you are in control and may have the option of asking your buyer to agree to allow you stay in your home a little longer with a rent-back option as part of the terms of accepting their offer. In this market – many buyers will agree to this option given the lack of inventory. If not an option, consider renting before buying your next home.
Visual Showings are more important than ever – Although searching for homes online isn’t new, now more than ever with some of the pandemic safety measures put in place, more people are taking their searches online further than ever before. When you are interviewing agents, ask how they plan to showcase your home. A recent survey found that listings with virtual tours received more views than those without, and home buyers were relying on both virtual tours and high-quality listing photos to narrow down the homes they want to visit in person.
Getting your home show ready – The time for all the small home projects you have been thinking about or meaning to do is now! From a fresh coat of paint to decluttering your closets, or fixing a leaky faucet. The little details will make a huge difference in helping would be buyers see your home as a place they could see themselves living in. As I always say – first impressions matter, and you only have one chance of making it a good one. And today, that takes place most times online!!
Select the offer that works best for you – With so few homes on the market, the likelihood of you receiving multiple offers, is very possible. While this can be exciting, your Realtor may suggest to sit tight and give your home a little more market time and not to jump at your very first offer. That’s not to say your first offer may be your best offer – but giving your home a little market-time before you determine what offer will be best to accept would be wise. Not always is a good offer just about price – although a very important factor of consideration – but sometimes the terms can be just as important and make all the difference. Typically, I advise my sellers to take a little time to discuss and assess each of the offers to best determine which offer is best for them to accept. Seek your Realtors guidance to give good sound advice through their experience and knowledge of the market.
Helping buyers & sellers achieve their real estate goals.