This market may be scary, but these five truths will prepare you to succeed.
Today I’m here to talk to you guys about five truths you need to know before you get ready to list your home:
1. Home preparation is key. This is one of the most important things to consider when you go to list your property. Buyers buy based on emotion. If you’re selling a home that’s empty, cluttered, or disorganized, you’re not going to get top dollar. In a market where buyers are hypercritical about the product they’re buying and looking for reasons why they shouldn’t buy, your home needs to look perfect.
2. Price it right. Buyers are looking to pay below market value for a home right now. Buyers were paying above market value to get a property last year, and now that the interest rates have gone up a little bit, buyers’ expectations have changed. Many sources are saying that prices may continue to decline, so buyers are expecting that. Therefore, pricing is critical.
“Buyers buy based on emotion.”
3. Buckle up for a bumpy ride. Selling your home is going to be a massive disruption. If your agent tells you that this is going to be smooth and easy, they’re not being fully honest with you. There are things that we can do to make the selling process as smooth as possible, but the bottom line is that it’s going to take a lot of time and work, so mentally prepare for that.
4. Use the right agent. Your listing agent matters more than you may think. In the last year and a half, the process has been easy. However, that strong market created a lot of weak agents with bad habits. Now that the market has shifted, make sure to work with an agent who understands the shift and how to use it to your advantage. Today’s market is about collecting offers, analyzing them, responding to them, negotiating aggressively, and then facilitating a close because the deal doesn’t matter until the deal is closed.
5. You’ll make up for the loss when you buy. 65% of sellers need to be a buyer. Therefore, if you have to take a little bit of a haircut on your sale because the market has changed, know that every area is different. You’re going to be able to make up that loss when you buy.
If you’re thinking about selling, consider those five things. As always, if you have any questions or real estate needs, reach out to my team and I. Call or email us, and we’d be happy to help you out.