With real estate industry gurus predicting continued low inventories throughout the foreseeable future, now is a great time for homeowners to sell in most areas of the country. But even with strong demand, sellers must still make sure that they are doing all they can to make sure their home appeals to buyers. If you are thinking about selling your home, these suggestions are a great place to begin.
Determine your most likely buyer and then work to appeal to them
Sellers who have a good understanding of their local real estate market will be able to determine who their most likely buyer will be and how to better appeal to them. For example, millennial buyers often want to see green features and smart-home technology, while a downsizing retiree may be much more impressed with a recently upgraded furnace. Your listing agent can help you understand the demographics of the buyers who most often look for homes like yours and what features and amenities these buyers have on their wish list.
Do the work to get your home ready for market before listing it
No matter how active the market, homes that are clean, attractive, and properly prepared for the market will be the first to capture the attention of qualified buyers. So it remains important to resist the urge to try and sell the home as-is or to put it on the active market before the home is completely ready and able to compete with other listings on an equal footing, even in a strong seller's market.
To make sure that your home will show well and have plenty of appeal for prospective buyers, sellers should begin working with their listing agent well before the expected list date. Doing this with sufficient time for the agent to help the seller determine what repairs or updates should be done and make sure all tasks are completed before the marketing photos are taken and buyers begin viewing the home.
Deal with multiple offers situations by carefully evaluating the entire offer
In a real estate market situation where inventories of homes are low, sellers are much more likely to see multiple offers on their home, especially if they have expended the time and effort to make sure the house will appeal to prospective buyers. When multiple offers arrive, however, even the most prepared seller may be tempted to screen the offers only by purchase price, without paying attention to the other details of the offer.
This can be a critical error because buyers often try to compensate for their less attractive conditions and requests, such as the need to sell another home, by upping their asking price or even offering to pay more than the list price. To prevent this problem, always discuss each offer with your listing agent before making a choice on which one to pursue.