In a seller’s market, it is an excellent time to sell your home. Because of a lower inventory, your home may sell faster and sometimes even for more, if you keep the following in check:
Are you a good negotiator?
You may think in a seller’s market you may be able to sell your home more easily, but you may want to re-think that idea. A seller’s market is a time for negotiations and you don’t want to let your emotions rule the selling of your home. Our Anne Winch Real Estate Team has our finger on the pulse of any homes that are selling right now and we will be able to get you the most value for your home. We also pride ourselves in our negotiation skills that can lead the way to a win-win for both the buyer and seller.
Setting the right price
You may have heard that in a seller’s market there are a lot of “bidding wars” but this is not always in the seller’s best interest. Why? First, you must put your home up for less than it is worth. Are you ready to take that risk? You need to have a shortage of your type of home, in a specific district and a buyer who can afford to overbid. What if you don’t get a lot of offers and you have to settle for less? In a bidding war, buyers can get disillusioned when they believe that they can afford the home at that higher price range. They may overbid and end up not being able to afford the home and then the offer falls through. Not a good situation for either seller or buyer.
Our Anne Winch Real Estate Team
It is very important to have a real estate team that will be truthful to you and actually price your home where it needs to be. You may get more than the listed price but you don’t have to gamble on multiple bidding to do this. This is what our Team does for our clients:
- Check recent sales and market conditions in your area
- Compare your home to homes that are in the MLS system
- Look at the plus and minuses of your home
- Price your home at its “true value”
Our last words of wisdom about selling in a seller’s market. First, just because it is a seller’s market some houses that are not priced correctly can still linger on the market. Location is important and so is the condition of your home.
Second, buyers often search within a specific range. For example, a buyer may look at homes between $650 and $700K. But if you are listed at $715 and are willing to take $700K you may miss out on those buyers who limit their search to a lower amount.
Lastly, we always present our clients with a comparative market review to understand the housing market and prices in your area and how we arrive at a selling price for your home. Feel free to connect with our Team to find out how we can help you sell your home. Don’t forget we also offer free staging!