As a seller, beware of these four common misconceptions about strong seller’s markets (like the one we’re in):
1. You have to be firm on where you’re moving to next before listing your current home. Fortunately, you have the leverage to be able to negotiate move-out dates and longer-term leasebacks. In the last few deals I’ve closed, the sellers were able to get leasebacks as long as 60 days.
2. Your home’s condition doesn’t matter. Because we’re in such a strong seller’s market, many people believe they don’t have to do certain things to their home before putting it on the market. For example, decluttering, cleaning the carpets, watching the windows—the types of things sellers traditionally do when listing their homes. Even in a market like this, you still want to do those things. In the end, your home’s condition will help you achieve your maximum sale price. My team and I walk through our clients’ homes all the time and give them tips on what they should really spend money on. At certain price points, you don’t have to do a lot, but if you work with us, you can be sure we’ll give you our professional opinion before you spend any money.
“Don’t assume that saving on commission fees means making more money on your home sale.”
3. You can price your home above market value. After you’ve spoken with a real estate professional, then you can talk about pricing your home a little higher. You have to stay within range, though. You can’t price the home so high that you lose out on opportunities. There’s a lot of buyer fatigue out there, so if you miss the market and overprice your home, you’ll miss out on some of them. So again, reach out to a professional (or call us up) and let them give you the price ranges at which homes are selling. The last thing you want in a market like this is your home sitting on the market longer than normal because people will start wondering what’s wrong with it.
4. You don’t need a Realtor. It’s very tempting to try selling your home on your own because that means you don’t have to spend money on commission fees. We Realtors, however, can offer you staging tips, professional photography, marketing, and everything else that can help you make more money in the end. Don’t assume that saving on commission fees means making more money on your home sale. So again, please talk to us and let us give you our professional opinion. Multiple-offer situations are a tricky situation to navigate these days. The last handful of homes we listed got as many as 40 to 50 offers. A Realtor can help you sift through that many offers and identify the best one. From there, managing the transaction until closing is vitally important, and it’s what you need a professional for.
If you have questions about this topic or there’s anything I can ever help you with, don’t hesitate to reach out to me. I’d love to help you.
