Blog_What is a winning strategy to sell in today's real estate market?
What is a winning strategy to sell in today's real estate market? The crazy seller market ship has sailed away for now. The fall market has brought the return of price reductions, houses staying on the market longer, offers are coming in with home inspections, appraisal contingencies, and just all around buyers are just over it!
It’s been a wild ride since the pandemic began. The market just went berserk with huge equity gains, buyers giving up all their contingencies and paying 50k-100k over asking on the usual! I have seen some headlines say that basically buyers are fatigued.
So what does that mean for you Mr. & Mrs. Seller? You want to sell in 2021 and you are asking me what you should do to get a solid offer on your home, this is what I would say.
Pricing Matters in a fickle market
Do NOT over price or price it near where the last highest sold. Price it lower, there really is NO “TOO LOW” and I know this is hard to believe but it is true. This is what will make the public bring the market price of the home and what I am seeing theses homes will escalate to exactly the # range we guesstimated we could get for them home.
Don’t List for the highest price
I got burned pretty badly recently by going with the “Let’s List it for the Highest $ '' route, because we ended up having 50 showings and no offers. The feedback was that it was overpriced for the condition which really surprised me since I had the highest sale in the neighborhood a few months earlier and I had to have the total tail between my legs conversation that we needed to do a BIG price reduction. That is not how I want things to go for my sellers.
3. Condition of home matters
Condition of home matters
Condition really matters now. Buyers want quartz countertops, nice cabinets or nicely painted cabinets, gleaming hard surface floors ( many times Luxury Vinyl Tile or Plank), and painted neutrally which tends to still be grey, greyish and really nice appliances especially cooktops or ranges & refrigerators.
4. Have your home move-in ready
Have your home move-in ready
The under 40 buyer does not have to do any work! The majority would rather overpay than have to go through the torture of doing it themselves or hiring contractors. Many are very busy with their jobs and families and just want a home that is “Move in Ready”. That means outside too.
5. Smells Matter
Smells Matter
Do anything in your power as a seller to neutralize your “footprint” on the home and this is probably the hardest of the 5 things for many people to do. Takedown the family photos, take down your college degrees, and move out your junk aka all your worldly treasure because the buyers don’t want to see Grandma’s afghan blankets! And one last note smells matter. Clean your ductwork, and dryer vents, sweep your chimney, and put the grease catchers on your cooking vents in the dishwasher. Always regularly replace your HVAC filters. Smells Matter
If a Realtor tells you that they have been using the same “winning” strategy for decades, be wary of their claims. If you are like me and out there in the trenches of the real estate market every day you know that the market is fickle right now and you need someone on your side that understands what winning it takes to sell your home in today's world and can help guide you in the right direction.