When the market shifts, tipping supply and demand in your favor, an opportune time arises to sell your home. This is what we call a seller’s market—when there are more buyers than sellers on the playing field at a certain point in time. Houses will fly on and off the market, buyers will make their bids faster, and sellers can become, well, overzealous. While it may seem like anything goes for sellers, it is important to remember some basic rules that apply to selling a home even in a seller’s market. For the best outcomes and highest return, follow these tips for selling a home while there is increased demand:

Selling Your House in a Seller's Market: Guidelines to Follow 

Hire a knowledgeable Realtor

One common rule sellers may forget in a seller’s market is the great need for a knowledgeable Realtor. A Realtor is an essential tool which will certainly help you get the most for you money. Some sellers envision an easy transaction; putting their home on the market and signing it over days later to an excited buyer. Regardless of the market, however, there is still much work to be done to protect you, your home, and the buyer during this process. Your Realtor will navigate paperwork and terms for all aspects of your sale—an invaluable advantage to having him or her on your side. Realtors will also be able to professionally communicate with potential buyers and other vital people in the home selling process. Realtors will know how to effectively market your home and make it stand out, even in a seller’s market.

Price your home logically

In a quick market, sellers are often inclined to price their homes significantly higher than what they are worth, aiming to cash in on an eager market. While it is possible to get a great return during an advantageous time, you have to be realistic. Your Realtor will be able to refer to what similar homes in the area are selling for and will know the local market for your own interest as well. It will be a longer and more arduous process to overprice your home only to get an inconsistent appraisal, potentially making your buyer have doubts or back out of the deal. 

Present your home well

In the long run, minor home improvements like fixing a faulty roof or leaky faucet will save time and money as these fixes can help sell a home faster and more smoothly. Sellers should consider minor home improvements before putting their home on the market. A favorable market does not imply you should sell a home without putting in the work to make it worth the sale. A Realtor will be able to predict what fixes buyers might point out and can direct you to quality resources during that process. Sellers should be aware that home buyers and their Realtors will come into a showing with a list of items to check before they consider putting in an offer. Home sellers should maintain yard work and simplify outdoor décor. Making sure your home is clean and decluttered is a basic rule for courteous home viewings. Neutral colors in fresh coats of paint and other simple, home staging are also necessary when putting a home up for sale and seeking the highest price point.  

Be flexible

Flexibility is another attribute sellers should prepare for. With a great Realtor and their skill in properly marketing your home, showings will happen often and sellers will need to be ready to leave the house with children and pets so that a buyer can visualize their new life in your old home. In a hot market, sellers need to plan for the possibility of multiple showings in one day. Have places in mind where you, your family, and pets can go during these showings. It's certainly an inconvenience to pack up the family and leave for several hours at a time, but it's a necessary hardship when selling a home. No one wants to buy a house that they can't get in to see. Be as flexible as possible and keep in mind that this sacrifice will pay off with a home buyer! 

While sellers in a seller’s market may in fact have the upper hand, it is still critical for the seller to abide by the basic rules to efficiently, effectively, and properly sell their home. As exciting times are ahead, taking the proper amount of time to prepare for a sell will benefit any seller, regardless of the market. Skillful Realtors are ready to support you in your move and work through repairs, opportunities and celebrations alongside you. We would love to hear about what aided your victory in a seller’s market. For those looking to purchase a home during the uptick, check out our recent post on buying a home in a seller’s market.

Here are additional resources that'll help you sell your home quickly and for top dollar: 

Taken from Ferris property grp's blog

Need help in Buying or selling a home? 
Contact me
Asifa Zia
Licensed in VA
Keller Williams Realty Manassas VA
540-729-3470
aszia09@gmail.com
http://asifazia.kw.com

Comments

Post a Comment

Popular posts from this blog

How High Tech is Your Home?

Image
If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist. Are there enough jacks in every room for cable TV and high-speed Internet hookups? Are there ample telephone extensions or jacks? Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers? Does the home have a local area network (LAN) for linking computers? Does the home already have wiring for DSL or another high-speed Internet connection? Does the home have multizoning heating and cooling controls with programmable thermostats? Does the home have multiroom lighting controls, window-covering controls, or other home automation features? Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes? To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at  www.ce.or
Read more

7 Home Renovations That Offer the Best ROI for Resale

Image
  Before you dive into a home renovation project, think about the goal - are you looking to add long-term functionality now, or just make improvements that will help you sell for more? If selling is in your future, you could spend the next few weeks renovating your home to make it look better, but are you really getting the best ROI? As a homeowner, you want the best ROI. What you don’t necessarily need are the biggest bucks—instead, you want to invest in improvements that give you the most bang for your buck. "The higher the resale price, the more profit you can make and the less of a renovation project you'll have to undertake." If you don't sell it soon after, it may be hard to get top dollar for it and you might end up with a big renovation bill.  The right simple home renovation is a great investment in your future. If you’re looking to get top dollar when selling your home in the future, there are some renovations that'll give you the highest ROI. We'll
Read more

More homes in the market, home buyers get more choices!!

Image
Finally there is good news for the home buyers, they can expect more home inventory and this more choices in Fall 2021. In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. If we look at the active monthly listings for 2021 , we’ll see that the number of homes on the market has increased fairly steadily since spring this year. New  data from realtor.com  shows that the number of homes available for sale inched up 5.7% in August. That follows 8.8% and 10.4% inventory gains, respectively, in June and July. Since bottoming out this spring, inventory is up 30%.  The  realtor.com  data  shows we’re still seeing an increase in active inventory month-over-month. While that gain is a bit smaller month-to-month , September numbers are still up from the month prior. The buyers faced challenges like bidding wars, multiple offer situations, and not much of
Read more