3 STRATEGIES FOR SELLING YOUR HOME
Are you thinking of selling your home, and you’re wondering: “what can I do to make sure I get top dollar” when I go on the market? Well, you’re in luck, I’m going to share 3 strategies that are time tested, and will help you get top dollar for your home in 2023.
Let’s get into.
STRATEGY NUMBER 1: PRICE CORRECTLY
Even though we are seeing bidding wars in Spring 2023, they don’t have that frenzy and fervor we saw in 2020-2022. What does that mean for you? It means you have to have precision of pricing when listing your home. Interest rates are spooking buyers and they are being more cautious about how high they will got to win a bidding war.
What this means is that if you price too high, you might scare away serious buyers. If you price too low, you might be leaving dollars on the table. The best way to know how you should price your home is to consult with a local, knowledgeable, Realtor that can guide you on home prices in your neighborhood.
In the meantime, here are two general rules that you can follow:
Take a look at active listings in your neighborhood. All things being equal, meaning you have the same number of bed, bath, square footage and condition, you don’t want to price higher than the highest priced home in your neighborhood. It might scare buyers off.
Rule of thumb number two, know what has sold in your neighborhood. If you are in a market that is appreciating, meaning prices are going up, you can take a look at the last sold comp and price slightly above that number.
Again, you want to make sure to get guidance from a local Realtor as you’re looking at these comparables and determining your list price.
STRATEGY NUMBER 2: MATCH THE MARKET
What do I mean by that? You want the condition and appearance of your home to match successful sales in your neighborhood. It is not always necessary to completely remodel or spend a lot of money on costly repairs. The key is to keep your eye on the competition. If most of the homes in your neighborhood are selling successfully by decluttering and a coat of paint, then, that’s all you really need to do to match the market.
If your neighborhood does not have a history of all the homes that are selling being fully staged, then you don’t have to stage either. Make sure you’re being smart about how much money you’re spending upfront to get your property ready for the market. A local Realtor can help you decide what is needed.
STRATEGY NUMBER 3: LIST AS SOON AS POSSIBLE
List As Soon As Possible. Spring 2023 is on pace to have the lowest inventory ever recorded. Let me repeat that again, Spring 2023 is on pace to have the lowest inventory EVER RECORDED. This means that if you list sooner rather than later you’ll next to no competition from other sellers.
I can tell you from boots on the ground most of the buyers out there are hungry for inventory. They have their loans ready to go, they have their downpayment ready to go. Now, they just need someone to take their money. Will that be you?
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