If you’re ready to sell your home, you couldn’t choose a better time than during a hot seller’s market. Homebuyers are eager to find their dream home, but without enough homes on the market to meet the demand, bidding wars erupt, and many houses end up selling for over their asking price. It’s a seller’s dream.
However, be careful not to let rosy prospects lead you to unrealistic expectations. Here are some common misconceptions homeowners have when they’re putting their home up for sale in a seller’s market.
Staging the House Is Unnecessary
When buyers are snatching up houses left and right, it may seem like they can’t afford to be picky. But don’t be fooled: First impressions still make a big impact. An experienced agent can identify ways you can make your home more marketable. Simple fixes like removing clutter, minimizing personal effects, repainting, and landscaping will make your house more attractive to prospective buyers.
Needed Repairs Won’t Raise Red Flags
While some buyers are actively looking for a fixer-upper, most desire a move-in-ready home. Does the roof on your house leak? Does the living room floor need to be replaced? Is the water heater past its prime? These are all issues you may need to resolve before putting your home on the market. With labor and supply costs on the rise, many buyers are wary of investing in a home that they will need to repair out of pocket.
Buyers Are Willing to Pay Whatever You Want
When your neighbor down the street is bragging about their home selling for over asking price, it’s tempting to price your home sky-high. Houses often go for above asking price during a seller’s market—but that’s because they were reasonably priced to begin with. Choosing a too-high price is more likely to scare buyers off. Choosing a fair price will garner attention that can lead to multiple offers and buyers trying to outbid each other, which will raise your selling price.
Having your expectations in order when listing your home during a seller’s market can help you have a successful sale. As a professional real estate agent, I can help you utilize this window of opportunity when the market is in your favor and get your home sold. Contact me today!