In recent years, sellers have called the shots in home buying negotiations. Sellers have had plenty of leverage, too, thanks to surges in buyer demand, tight inventory and soaring home prices in many top markets around the country.
We all know that the housing market is a cyclical one. Pricing and demand that goes up eventually goes down, and the hot summer housing market often cools by the time winter rears its chilly head.
If you’re needing to sell a house and can’t wait for next year’s warm-weather sales surge, you’ll need to act fast.
To get to the closing table sooner rather than later, sellers may need to adjust their expectations and approach.
Here are six important steps you can take now to sell your home before the new year is here.
1 Rely on comps — not emotion — to set a realistic asking price
First things first: You’ll want to jump into the housing market with a realistic asking price that has the potential to stick. This part can be hard for sellers to wrap their heads around since many want to “test the market” with a higher sales price knowing they can drop it later. This approach, however, is a mistake. If your home is priced too high, it can be very difficult to overcome, even when you eventually reduce the price. Let RezaieCo lead the way on this.
We will do comparative market analysis that helps you price your home based on recent comparable sales in your area — not just hopes and dreams.
You are paying us for professional advice and expertise, so when we suggest a sales price based on mountains of research, you should listen.
2 Ask us for ‘first look’ feedback
Homeowners hoping to unload their properties by year’s end will need to enter the market with their best foot forward. This means having a house that is easy to sell and free of glaring problems.
You not only should ask for our feedback but review all of their notes — both positive and critical.
We will give the seller’s “buyer feedback” from people who tour your property so you understand what buyers love — and don’t love — about your home.
RezaieCo will be able to point out defects you’ve overlooked like forgotten windows with cracked seals or the fact that your teenager has heavy metal posters plastered wall to wall. We will also remind you that most people want to park in their garage instead of using it to store boxes of photos and old clothing.
- Clean, organize and declutter
It’s possible your Alan Rezaie will advise you take down family photos and clear out your closets right away, but you should make time for a major cleanup regardless.
The sellers should do everything within budget to ensure the property gives a great first impression. For example, give your front door a fresh coat of paint, trim back overgrown shrubs and keep your lawn in tip-top shape.
While your home is on the market, the interior should also be clean and ready for a last-minute showing at all times. Start by removing clutter, getting rid of any oversized furniture and taking down busy decorations.
Rent a storage unit if you need more space.
4 Consider hiring a professional stager
Home stagers have furniture, art and decor they use to make your home feel modern and increase your chances at a speedy offer — an important consideration for anyone, especially if your home feels especially dated.
Does staging work? Most Realtors would agree with us and say it does.
In fact, a recent study from the National Association of Realtors showed that 83 percent of buyer’s agents said staging helped their clients envision living in that specific home. Also, 28 percent of seller’s agents said they staged all of selling clients’ homes before putting them on the market. However, 13 percent reported staging homes only if those properties were difficult to sell otherwise.
5 Spring for professional photos and video
Where potential buyers perused the local newspaper for new home listings decades ago, pretty much all home marketing is done online now — either through multiple listing services, real estate websites, email marketing or a combination of all of these avenues.
This is the reason why quality pictures are crucial if you hope to achieve a quick sale. We hire professional photographers to take high-quality pictures and work with the company to create a marketing video with emphasis on the importance of social media marketing — especially on Facebook We found that running ads on the Facebook platform is superior to any other social media space because the audience can be targeted very specifically.
If you’re hoping to spread the news of your home for sale far and wide, it may help to work with an agent that has knowledge of social media marketing and other strategies to get more eyeballs on your virtual listing.
6 Get an optional pre-sale home inspection
Never assume your home is in perfect physical condition; take the time to make sure. Paying for a home inspection upfront is typically a safe bet.
By obtaining prior knowledge of issues such as missing shingles on your roof or faulty electrical work, for example, you can buy time to fix these problems before they become a problem.
Hiring a home inspector to conduct a thorough inspection before you list your home may inspire greater confidence in your home’s condition among potential buyers.
This is true even though most savvy buyers will likely hire their own inspector.
If you have any questions, call us at (202) 802-8200 or email to email@example.com. We look forward to hearing from you.