Today's market is a constantly changing environment. I find it especially important to educate sellers as home prices continue to drop in our area.
Advice for Sellers in today's market
- Price is KEY! When deciding where to price your home, remember the market prices are still dropping and the price should be lower than the last comparable home sold in your area.
- Pricing to leave room for negotiation is not a good strategy in today's market. Buyers are looking for value and a higher price may preclude most buyers from even considering it, or going to see it. Price the home according to today's market to get the most buyers looking. More buyers looking brings more energy and ultimately a higher price for the home.
- Make sure your home is neutral, clean and fresh. Do the best with what you have. Don't do any major remodeling or changes.
- Remember that your home has to appraise for at least the purchase price in order for a buyer to obtain financing. Most cash buyers request an appraisal also. It may be a good idea to obtain an appraisal in advance to ensure your home is priced correctly.
- Your first offer is usually your best offer. We've had sellers turn down offers and wish they had them back later. If you receive an offer. Try to negotiate as best you can to make it work.
- Homes are a commodity. Price is not determined by how much money has been put in the home or how much a seller would like to get or could have gotten in the past. Market Price is determined by how much a buyer is willing to pay for it today.
- The right price paired with a very strong marketing plan will bring a sale. There are still plenty of qualified buyers out there ready to purchase a home!
