4 things sellers should keep in mind right now
First-time buyers have always gotten plenty of love from real estate professionals, but a similar group needs guidance during times like these, too. Yes, we’re talking about people getting ready to sell in today’s changing market.
There are still plenty of people thinking about selling out there, and we’re here to help everyone involved get to the finish line. We saw this article recently and thought we’d expand on some advice our teams have for people unsure about if this is a good time to sell – whether you’d be a first-time seller or not.
Appearances matter, and we’re talking about all of them. Remember what you did – and didn’t like – about the homes you saw during your last home search. Be sure to remove personal items during photos and tours. Attracting a buyer is all about letting people picture a future in that space. Make sure they’re envisioning their own story unfolding there, not yours. Also, make sure you have professional photos and keep your staging in mind.
Be realistic about price. While now can still be a great time to sell, the reality is the market has shifted. We all know that. Higher mortgage rates have made it impossible for many buyers to go as high as they did not too long ago. Comparing your price to what a neighbor got a year ago might be an apples-to-oranges comparison.
Listen to advice about repairs and upgrades. Like with price, things have changed over a short time regarding concessions and maintenance. Heed the advice of your real estate professional about what you should and shouldn’t worry about changing before your home even hits the market. It might be too late – and unnecessary – to do a massive overhaul or major renovation, but focusing efforts on the kitchen and bathroom can help you bring property value up in the least amount of time. Be sure to replace outdated fixtures and appliances, and again, a fresh coat of paint is always an inexpensive way to get big results.
Patience is key. Selling a home can take time, so be patient and don’t get discouraged if your home doesn’t sell right away. Houses are staying on the market longer than last year, but they’re still selling “quickly” if we’re talking about historical context. Consider this data from Realtor.com. The typical home spent 67 days on the market in February of 2023. That’s 23 days longer than in February last year but still a few weeks less than typical homes spent on the market in the years leading up to the pandemic. Continue to work with your real estate agent to find the right buyer.
If you’re considering selling your home, it’s always good to connect with a local REALTOR® or two to gauge how much interest your home would have and, just as importantly, how much work it would take to attract a buyer. There are plenty of local professionals ready to help you. When you’re ready to close the deal – whether that’s now or in the future – our teams would love to be your title and closing provider! Reach out to us whenever you need us.