Must Do’s for Selling Your Home This Year

Its exciting to put your home up on the market (especially this market) and think about the future in a new home. However, despite the anticipation of what’s to come, we can still have emotional attachments to the home you are leaving behind. Emotions can help or hinder a sale, depending on how you deal with them. Homeowners need to avoid costly mistakes when it is time to move. Being prepared for the process will help you stay on track.

1. Work with a qualified and trusted real estate agent.

A trusted real estate agent will educate you on the process that you are about to experience. Managing expectations such as the pre-listing process, what to expect during the showing periods, and managing the contract to close phase, are all topics of conversation to have BEFORE you go through those phases in your home selling journey.

2. Price your home correctly.

With a housing market like we are seeing now, inventory is low. It’s common to think that buyers will pay whatever price we slap up on the MLS. Believe it or not, that is not always true. Don’t forget that the buyer’s bank will be sending an appraiser to determine the fair value for your home (if they are using some kind of financing option). The bank will not lend more than what the home is worth, so be aware that you might need to renegotiate the price after the appraisal. A real estate agent will help you evaluate the fair market value of your home.

3. Keep your emotions in check.

Today, homeowners are living in their homes for longer periods of time. Since 1985, the average length people stay in their homes has raised from 5 to 10 years. This is double the historical norm. The side effect is when you stay in a place for so long, you get even more emotionally attached to your space. If it’s a first home, or the home you brought your children home to for the first time, it is very likely much more special to you. Every room has memories, and its hard to detach from those memories you are about to leave behind. For some, that makes it harder to negotiate and separate the emotional value of the home from the fair market price. Lean on that real estate professional for an unbiased opinion on negotiations along the way.

4. Staging and upgrades

Homeowners are generally proud of the décor they keep in their homes, and the way they present it to others. Take note that not all buyers will see things the same way. That is why it is so important to make sure you stage your home with the buyer in mind. Buyers want to envision themselves in the home so that it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes, not your pictures and decorations. Declutter the home so they can see an accurate depiction of the space they can utilize, as well as visualize themselves living there.

When it comes to upgrades, many homeowners are not wanting to put any money into their homes because they are getting good values in this low inventory market. Even with home prices being high, making minor upgrades such as new paint and new carpet in place of stained and well worn areas of the home, the homeowner can still expect a great return of investment. While it can still potentially sell without those minor upgrades, you will attract more buyers by making those improvements, and having more buyers interested will help drive the price up.

Bottom line

Today’s sellers’ market might be your best chance to make a move. If you’re considering selling your house, reach out to a local real estate professional to help you navigate through the process while prioritizing these must-do’s.