The market in our area is on fire, which makes it the perfect time to sell!
But, we also understand that deciding when, or if, you should list in such a competitive market can be intimidating!
Doing a few things in advance can help ease your anxiety – and make the process move quickly and smoothly.
Take a minute to think about your current situation and ask yourself the following…
Why do you want to sell? There are a number of reasons to sell; a growing family, downsizing, investment opportunity, purchased land to build but changed your mind, etc. (Trust us, we’ve heard it all!) Realizing why you want to sell will help you set goals and a timeline that is reasonable. It is easy to get caught up in the excitement of this fast paced market – make sure that’s not what’s fueling your desire to sell.
What will it require for you to sell? While every situation is different, this is an important question across the board! Consider things like having a place to go (or purchase) when your primary residence sells. Do you have to sell your current property before you purchase another home? Does your property have any obvious issues that should be addressed before you put it on the market? Also, the size of your new home could require purchasing additional furniture, or making arrangements for items you’ll no longer need if downsizing.
Is this a smart move financially? Depending on your situation, you may make a large profit from the sale of your property. At the same time, we are seeing some properties appraise for less than the contract price. Are your prepared to pay additional cash out of pocket? In either circumstance, be sure to speak with your personal banker, mortgage lender and any financial planner or advisors you may work with.
Our REALTORS will guide you based on your needs.
A REALTOR does more than just open doors and stick signs in the ground (yes, even in this busy market ?). They are educated and trained to make sure you get the most for your property while navigating the hurdles of negotiations, inspections, repairs and more. Using a REALTOR in such a competitive market is more important than ever! Their understanding of property values, along with know-how to operate during high demand, will pay for their listing commission in the end.
Some things you should discuss with your REALTOR include:
- Your end goal. Are you looking for a large return? Will you need another property? Want to purchase an investment property with your profits? Your REALTOR needs to understand what you ultimately want at the end of your transaction to make sure all the necessary steps are taken.
- Your questions and concerns. There is no such thing as a stupid question! Be honest with your REALTOR – they are here to help you, not judge what you do or don’t know about real estate.
- Improvements. Sometimes small changes (like a fresh coat of paint) can make a huge difference! Your REALTOR can also advise you on any projects you were considering before listing (like a kitchen or bathroom upgrade) and whether it’s a waste or worth your time.
- Your timeline. Choosing to list with a REALTOR doesn’t mean it has to happen tomorrow. You can work out a plan with your REALTOR weeks or month in advance so you are fully prepared.
- Set a plan and stick to it! Your REALTOR knows what’s required to be successful in this crazy market. Trust their expertise and knowledge, don’t hesitate to ask any questions along the way so you feel comfortable.
You’ve planned your work with your REALTOR, now work your plan!
You have a plan and timeline set in place with your REALTOR. Use the time before your listing goes on the market (whether it’s a few days, weeks or months) to get things taken care of and in order. No matter if it’s a few DIY projects or a list of local vendors you need to call, getting your property ready to sell will help you avoid a lot of headaches down the road. There are a few items that should make it on every to-do list, in addition to the other things you’ve discussed with your REALTOR.
Basics for residential listings include pressure washing the exterior along with any driveways, walkways, porches and patios. Clean your windows, screens and shutters. Clean up any brush piles, downed limbs or overgrown flower beds in the yard. Check and tighten all door knobs, cabinet knobs or drawer pulls, and hinges. Patch any small holes or cracks and toss on a fresh coat of paint where needed. Clean or replace dingy switch or outlet covers. And be sure to do a deep cleaning to remove any dust bunnies or hidden odors.
If you have a lot or land to sell keep it maintained. Keeping the grass mowed, limbs and brush out of the yard, etc. allows buyers to vision their dream home on your residential lot. For those tougher or not so level properties, clear cutting and under brushing can be a smart investment. Potential buyers want to walk these lots and land. Having easy access or a path on your property makes a big difference!
Take this time to go through your home and decide what you can live without… both temporarily and permanently!
Decluttering your home can be time consuming, but will be worth it a million times over when you are ready to put it on the market! First, it will help sooooo much when you are ready to move. Second, it helps for showings. Buyers will be able to better envision the space as their own and it will help you keep your home tidy between showings (less stuff to pile up on that accent chair).
Things to consider while decluttering:
- What furniture and items will you be taking with you? Is there any that you are willing to include with the purchase of the property?
- Simplify your space. Those side tables, chairs and other items you use as accent pieces can take away from the size and layout of a room. Eliminate any furniture, seasonal items, etc. that you don’t need to keep your property as distraction free to potential buyers.
- Minimize family photos and ditch the invites on the fridge. People are nosy… don’t give them personal things to look at, you want them looking at your home!
- Don’t need it? Donate your stuff to a local charity (we’ve got a great list of local places here) or hold a yard sale to raise some extra dough for those little projects around the property.
- Need to keep it? Find a local storage unit or, if you’ll be moving to a different city or state, consider a mobile storage unit that can be delivered to your new property.