The market is on fire! Partly because of the time of year we are in and partly due to the dramatic shift in our marketplace. As of just a few months now, we are completely in a seller’s market where there are far fewer homes for sale than there are buyers. So how does a seller in this environment get top dollar on their property? It’s more than just time of year or general buyer trends; it’s a matter of actively, aggressively going after the best outcome. Here are three tried and true strategies that we use to get our sellers top dollar.
Price
Your Property Effectively
We’re
not suggesting you set a price lower than everyone else in the
neighborhood to get it sold. But we are saying it’s critical to
know and understand the market pulse in your area as it relates to
today. The key word here is today.
It’s no secret that one of the most prevalent methods used to
determine market value is by evaluating comparable properties.
Appraisers
and Realtors® in general, look at homes sold in the last 6 months to
a year when considering values. However, when we are dealing with the
drastic change that is our housing market today, it’s important to
look at under contract values. This is what shows the truth of what
buyers and sellers value in the market right now.
Follow
the Laws of Supply and Demand
In
any marketplace, whether real estate or otherwise, the basic
principles of supply and demand play a huge a role in market
activity. With real estate, we tend to see an upswing in activity
beginning the spring months and it stays active until the fall when
people slow down from their home search. Listings also follow closely
with those trends.
When
there is increased supply, demand goes down. Conversely, the fewer
homes available for sale will dictate increased demand – a
phenomenon we are experiencing these days. This translates to the
spring and summer markets being better for sellers, with the
expectation they will earn top dollar if the home is well priced.
Promote,
Promote, Promote!
You
can have any number of homes on the market but until and unless the
word gets out, they will just sit there. Promotion is the key word
and the way you promote your listing is also critical. In today’s
fast paced, very NOW world – it is essential to cater to buyers’
needs. That means putting your property on social media, on every
syndicated property home search site possible and advertising in
other locally preferred ways.
Kick
it up one more notch by working with a broker that has an extensive
database of active buyers that are just waiting to be matched with
the right property. Imagine – finding a buyer that is willing to
pay over and above your asking price because your home is exactly
what they’ve been looking for!
~
The
first step to getting top dollar on your home is to know and
understand your local neighborhood’s buying and selling trends.
Contact us today for an updated market analysis that’s catered to
your locale. We’ll give you real time values so you can move
forward with your listing with all the leverage you need to come out
on top!
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