By: Kelly Gibbs
Thinking about selling your home this year?
Let's be real, with the market frenzy we are experiencing here in Cincinnati, who hasn't had that thought cross their mind? Am I right?!
Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers. If you are seriously thinking about selling then this post is for you!
You get one chance when selling your house in this market to get not only the most money possible for one of your largest assets, but also to get the best terms possible. So don't just sell it, sell it like a BOSS!
Here's How To Be a BOSS Seller:
1. Spend time to find the right agent.
Not all real estate agents are created equal. Work with an agent that knows your local market and has experience, someone you like and feel you can trust. In a complex market with complicated contracts and creative terms being offered up by buyers, you need a pro that has a proven track record for getting top dollar for homes. Look up the agents' websites and online profiles, read about their specialties and experience, and check out customer reviews.
2. Plan ahead.
Once you have selected an agent to represent you with selling your home you need a plan. Create a timeline with your agent for getting the house ready, marketing, listed date, ideal close date, etc. If you have repairs or improvements to make before listing your house, create a to-do list and prioritize those tasks. If they require a contractor it could change your initial timeline if you wait to schedule. Your agent should have recommendations for the service providers you need, the best agents always do. Breaking things down into phases will alleviate the overwhelm and make the process manageable. Don't just wing it!
3. Do the things.
Just because the market is hot, it doesn't mean you should skimp on the prep work. Be proactive with repairs large and small. It’s always less expensive to repair or replace something up front than to wait for the buyer to ask for that in post-inspection requests or have it be a potential deal breaker for a buyer. Switch out dated fixtures and freshen up paint in rooms that may have taste specific colors or are just in need of a refresh. Touch up white trim, baseboards, and doors. Schedule a deep clean and wash windows (inside and out). Spruce up your curb appeal. Consider staging your home.
You know that old saying, "less is more" ? It's especially true when getting your home ready to sell. Start going through each room and closets, begin to minimize what you have in those spaces. If it is stuff you no longer want, need, or plan on taking with you, then make arrangements to donate, sell, or pitch it. You may need a storage unit, don't pile everything in the basement or garage. Buyers want to be able to see those spaces too. Your agent will help you figure some of this out and how to go about it.
What you do now will help later. Your future self will thank you!
4. Price it right.
You can overprice a home in any market, buyers today are savvier than ever. Market research should be your guide when pricing a home to sell, not your emotions. When talking to a real estate agent it is important to know that no two agents price property the same way. Some agents are much better at figuring out how to price your home than others. Discuss pricing strategy with them and what their average list to sale price ratio is over the last year. Price strategically to create more demand. There’s a fair amount of psychology (and strategy) that goes into determining a home’s asking price. Pricing a home isn’t a “set-and-forget” decision. A lot of factors can come into play when selling a home, especially in a fast paced, low inventory market, and not all of them can be anticipated. Sellers need to be somewhat flexible up until you are ready for your listing to go active in the MLS. By doing this you’re more likely to set and get the best price with the least amount of aggravation.
My Two Cents:
There are many factors to take into consideration before selling your home, including how long you plan to stay in your next home, should you decide to move. It’s important to remember that the best time to sell and buy is when it works best for you! If you’re ready to leverage your equity and sell your house, let's talk. Worried about where you will go? How to sell and buy at the same time? I have solutions for that too!
Selling your home can feel really overwhelming and the to do lists, never ending! With the right professional by your side, it doesn’t have to be. Want to learn what else you should do if you are considering selling? I put this guide together with YOU in mind to help you prioritize what to focus on! I help homeowners set themselves up for a successful home sale by educating them on how to prepare their home for the market, including these 10 “must do” items! No matter when you decide to put your house up for sale, working with a full-time Realtor will help the process go a lot smoother, and help you get your home sold faster and for more money! I would love to set up a time to connect, don't hesitate to reach out!
Kelly Gibbs, 513-290-6216, firstname.lastname@example.org