Why As A Seller … Being “Ready” This Spring Market Is So Important
In the last issue of Insights, we talked about the importance of being a “ready” buyer… speaking primarily to the buyer to highlight the importance of positioning themselves to really compete in our current market. Here we will touch on it from a seller’s perspective. Different mindset as a seller but being “ready” is a common thread. Let’s break it down …
If you have already made up your mind that “now” is the time to sell your home … great! First things first, though you’ll want to get your ducks in a row 😊 In short … you want to make sure that your home will be show ready to outshine your competition – and then first and foremost, you will want to position your home correctly in the market from a “list price” perspective to get those buyers excited to see your home and then excited enough to want to make that offer. How do you accomplish this you ask? You first need to consult with an experienced professional REALTOR®, who can advise you of all the important steps you should take to get your home show ready and then equip you with the information you need to position your home on the market at a price that will gain you the most traffic to ultimately net you the most value from your home.
But let me just take it on the flip side and highlight why if you happen to be on the fence about selling, I’d like to shed some light and give a little perspective as to why it might just be a good idea to be ready now! But might I also just say this …sometimes, regardless of the market gains you may reap putting your home on the market now – now, just may not be the right time for “you.” That is why speaking to an experienced REALTOR® to talk through your own wants, needs and real estate goals, is a good first step to knowing when and how is the best time for you to put your home on the market. Talk about going around the block 😅 LOL.
The following is just a brief excerpt shedding light on the state of our real estate market from our own Chairman and CEO, Paul Breunich – “The ongoing supply and demand imbalance has created a dynamic where more buyers are competing for fewer properties, inciting bidding wars and sending prices higher. Sellers are still enjoying market conditions where they can maximize the value of their properties, and we encourage those still weighing whether to list to take advantage of this market while they can.”
Yes, we are still seeing multiple offers in our local market – providing a home is priced correctly and has no major objections to combat – there is a great likelihood the seller will receive multiple offers on the property, and in most cases, the contract they receive will go over what the actual list price was– and in some cases way over. I just recently closed on a home – we believed whole heartedly, was priced well for the market. And lo and behold – in the first 5 days of being on the market, we received 27, yes, 27 offers and settled at a price $75,000 over the list price. Now that is the market speaking to you! You can only imagine how happy my seller was! This is good news for sellers, as supply & demand” or lack thereof – is what’s keeping home prices stable, and in many areas have shown an increase in value. This factor alone, is the driving force that is keeping it still a seller’s market.
Good insight, right? Ok, now couple that with the equity gains you have already built into your home over the last 4-5 years, and beyond. It might be a little eye-opening to know where your home value sits in today’s current real estate market.
There are some sellers who may be “waiting” for interest rates to come down before they put their home on the market, for it to make sense for them to “make their move,” given the fact that for many, their current interest rates are much lower than where they are today. With that in mind, I would certainly advise sellers to look at the BIG picture. What is the motivation for their move? Are they retiring, downsizing, getting married/divorced, moving closer to family? There are many life events that would make home sellers want to sell their home. Having those conversations on what those goals are and how to achieve them is all a part of the process, to put perspective on whether it makes sense to “wait” or not, in the grand scheme of things.
The point I am trying to drive home, which I am sure you are hearing loud and clear is, it is a seller’s market, no doubt. The equity gains you can enjoy right now if you are ready to sell, is the best it’s ever been – if, and I stress if, it makes sense for you, given your specific wants needs and goals.
So, I ask … are you ready to get in the market? If the answer is yes, here are a few of things to consider as you are planning your market strategy, working alongside and with the guidance of a experienced professional REALTOR® of course.
First impressions matter …
Have a “To Do List” – and prioritize what you will need to do prior to placing your home on the market will be key. Decluttering is TOP on the list. Fix any minor repairs that you may have been putting off and/or needed, perhaps some painting may be in order … a can of paint can go a long way at making your home shine bright! And when all is said and done … do a deep clean – hire a service if it is in your budget. The money spent, in many cases, may just be well worth it. Perhaps staging your home may be in order … there are varying degrees of staging from just taking down family photos and personal items – to furniture placement, and then adding some accessories to give your home that extra sense of home. If it makes sense, and if the budget allows, you may want to consider, more extensive staging. You want the buyer to imagine themselves living in the home – not looking at “who lives in the home.” Looking at it from on online perspective … that truly is your “first showing, right?” Realtors now have access to virtual staging as well, which does and can work well. These are all things you will want to discuss with your REALTOR® prior to placing your home on the market to see what if anything he/she feels necessary to do to gain the most value in your home sale.
Lastly, look at your home through a buyer’s eyes to see what they will see – starting at the front door. Curb appeal matters – if your home appears well kept and welcoming as the buyers do their “drive-by” and they do … there’s a good chance they will want to schedule a showing with their REALTOR® to see what the home has to offer on the inside. For more information, tips, and strategies – feel free to contact me. I am here and happy to help!
Highlighting Our Local Businesses
A BIG shout out to Matt Giglio, co-owner of G&G Home Solutions. In my business, it is so important to have on hand recommendations for local service providers to assist my clients whether they are selling or buying a home. I have recommended G&G Home Solutions to my seller clients – to assist them in getting their home ready for sale. I cannot speak highly enough about their service. They are very professional, reliable, and always going above what is expected. My clients have been so impressed with Matt, his crew, and their service – I am sure they will forever be their raving fans!
If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!
Laura
The Key To Your Real Estate Success
Helping buyers & sellers achieve their real estate goals.