For most people, your home is your largest asset. That means, even when the market is down, you need to be smart and calculated when it comes to your selling process.
Work with an experienced real estate agent for the best advice, but, in the meantime, we’ve got some tips and advice laid out to ensure you’ll sell both quickly and profitably despite the market conditions.
Ensure your home is priced right
Even in fierce seller’s markets, pricing your home too high is one of the worst mistakes homeowners can make.
While some believe pricing their home high will encourage a higher closing cost, expect the opposite. The longer a home sits unsold on the market, the more buyers begin to think something must be wrong with the property. Once your home has negative assumptions, selling it will be an uphill battle.
Alternatively, while pricing your home too low may actually encourage bidding wars and result in a high closing price, buyers might think your home isn’t worth anything over asking.
At the end of the day, the best way to ensure you’re pricing your home just right is to work with a top-notch real estate agent, get a pre-listing appraisal, and compare your property to other homes for sale in your area.
Stage your home both inside and outside
Everything from cleaning, decluttering, interior painting, room design, and lawn care go into the staging process for home sales. You’ll want the inside of your home as neat and tidy as possible, painted neutral colors, and kept properly staged throughout the selling process.
Neglecting your outdoor curb appeal would be a huge mistake. Buyers often decide whether or not they like a home the moment they pull into the driveway. Alternatively, many buyers may drive by your home multiple times before they attend an interior showing. This means your grass needs to be carefully tended, your flowers should be blooming, and your entryway should be both pleasant and inviting.
While staging your home is always important, doubly so in a down market. If you want top-price for your home, you’ll need to go the extra mile to truly impress your buyers.
Find the right real estate agent to help you through the process
At the end of the day, selling in a down market requires advanced industry knowledge, understanding of the competition, and retention of best marketing practices. No matter how knowledgeable you are of the housing industry, always leave it to the experts.
A real estate agent will be your greatest ally during the home selling or buying process, and finding the right realtor could make or break your experience. You’ll want someone who’s going to listen to your concerns, fight for your goals, and ultimately provide support through the entire process.
Interview your prospective realtor before making any hasty decisions. Once you’ve chosen the right agent, selling your home even despite the down market will be much more manageable, so get started today!
Review How to Sell Your House in a Down Market.