“Hey Jeremy, when’s a good time to sell my home?”
I get this question all the time – twice today, in fact. A few times this week. There are thousands of other Realtors that are going to tell you “now’s a great time to sell a home!”, but you might have noticed that earlier they said “now’s a great time to buy a home!”, too. So which is it?
The truth is, I really don’t know. Your situation, and your motivation, is going to be different from someone else’s. One person today was looking to sell in order to pay off student loans, so he and his family are looking to downsize for a while so that they can put themselves in a better financial position. The mortgage payment is comfortable, but they want to do more. Another has a house that reminds him of painful times, and he wants the house sold yesterday in order to put the hurt behind him. Think the motivations are different?
Don’t be fooled by those who seem to be saying “NOW” when trying to answer the question of whether it’s a good time to sell. A home will sell in any market – it might sell better in one market than another, but a home will still sell. So weigh your options, review the data, and talk to your Nest agent – we’ll help you work through your options and decide what’s best for you.
Your home is on the market, and you expect to walk away with money. But exactly how do you make money when selling your home? Here are three tips I think are most important to selling a home for the most money possible:
- Price it right. When your home is for sale in a soft market, price is one of the most important things to pay attention to. It doesn’t matter that your neighbor sold for $100000 more two years ago – we need to look at market conditions today (and in the future) and price accordingly. If you’re in a rush to sell, companies like As Is Now exist to buy your home in any condition. If you have time – a more detailed estimate will make you more money in the long run.
- Clean it up. Ever watched those design shows on TV that show an ugly basement that in 30 minutes is transformed into something you’d see in a design magazine? Look at your home as if it needs to be ready for that magazine camera shoot. Pack things that you’re not going to use in the next couple of months anyhow (you ARE moving, remember), and put away things that are just sitting around. Eliminate dogs, pets and smoke odor – now is the time to make the home as generic as possible so that buyers can see themselves in the home.
- Open it up. Today’s market offers buyers more inventory to choose from than ever. Despite that, if your home isn’t easy to get in to see than it’s not likely going to sell quickly, and it’s not likely to sell for a lot of money. Make it easy for the buyer agents to reach you, and give them time to walk through with their clients unimpeded. If at all possible, don’t even be in the house!
Selling a home should be a tiny bit uncomfortable, but if it’s priced right, it’s clean and it’s easy to get into, it’s worth it when you’re handed that big check. Email me and let’s talk if you want to explore how you can make money when selling your home.
That’s right – I said it. Selling a home should be uncomfortable. Not in a painful, pulling nose hairs sort of way, but it’s not realistic (for most of us) to keep a home in showroom condition all the time. Life happens, and that’s okay. But in a market like this, with lots of inventory and choices-choices-choices for buyers, sellers that they need to keep a home in pristine shape, that the beds should be made and the floors clean at all times. You never know when that buyer will walk through the door, and I can tell you from recent firsthand experience that it makes a difference.
I was out with a family last weekend, looking at lots of homes, and it was surprising how they reacted to homes that didn’t match their criteria as well as some of the others might have. Lots of "oooh" and "aaah" in the houses that were well-kept and really gleamed, while the homes that matched every one of their criteria on paper, but lacked that pizazz, were just kind of "ho-hum". It was an interesting study for me personally; I realized rather quickly that it didn’t always matter what I had in my notes regarding the buyer’s criteria … all that mattered was how they felt in the home.
Sellers – how does a buyer feel in your home?