Steps for Selling Your House in a Seller’s Market

by Jul 10, 2017

Real estate markets around the country are in a seller’s market. Houses are flying off the market as soon as they are listed. This can be a difficult situation for buyers to maneuver, but is easy for seller’s, right? Not necessarily.

It can actually be a stressful time for sellers who are not prepared. Houses are being bought quickly and if you want to make sure that yours will be one of them follow these four tips.

  1. Price it Right

Houses need to be priced right from the start. Buyers are very educated on the value of homes and will know if you have priced it too high. If you price high and your house sits on the market it will hurt your chance of selling.

If your house is sitting on the market for a month when other houses are being bought instantly, buyers will begin to think there is a problem with your house.

Price it at market value, or slightly below. During a seller’s market many sellers are finding success by pricing just below market value, which leads to a bidding war between multiple buyers.

  1. Take Marketing Seriously

Many sellers are deciding to amp up their marketing efforts. For example, many sellers have professional photographers taking their pictures, so some are deciding to also have a videographer create a virtual walkthrough.

Interested buyers can actually take a video tour of your house before ever scheduling a showing to see it in person. Since one in five buyers purchase a house sight-unseen this is an advantage that can be worth taking.

Social media marketing is also helping many sellers get the word out that their house is for sale. Share the listing on social media platforms and ask your friends and followers to share it also. This can quickly increase the amount of reach that you have, and you never know who might know someone interested in moving.

  1. Stage the House

Staged homes sell faster and for more money than other houses on the market. In fact they often sell 88% faster than other houses. While staging does cost money you have several options.

The first is to simply pay a professional stager. An initial consultation runs between $300 and $600, with monthly staging costs running between $500 and $600 per room. To save money you could opt for only staging the kitchen, living room, dining room, and master bedroom.

You can also stage the house yourself, or find a stager who is willing to walk through the house with you and make recommendations on steps that you should take.

  1. Be Prepared for Multiple Offers

Many sellers are finding themselves in a situation where they are getting multiple offers. This can quickly become overwhelming while you are trying to decide what the right decision is.

Know before your house goes on the market what you are looking for. If you want to sell quickly you may want to choose the offer with the least amount of contingencies. However, if you want to sell for the most amount of money, you are going to want to look more closely at the price in the offer.

This is a great time for those who are selling. After years of a struggling market it has finally shifted in favor of the seller. Be prepared for what these changes mean and be ready to move quickly if needed.

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