As our market shifts, certain changes are taking place. As a home seller, there are three changes you need to be prepared for.
First, you’ll be competing with more sellers. Buyers have more homes to choose from, which means you won’t attract as many who are interested in your property. Because of this, it might take you longer to find the right buyer and sell.
Second, more sellers will have to adjust their prices or make investments to improve their homes in order to attract more buyers. Now more than ever, pricing your home correctly once you put it on the market is crucial to earning top dollar from its sale.
Third, sellers will have to be more responsive and more respectful to any buyers who come along. Six months ago, selling a home was like fishing in a pool full of fish. It didn’t matter if you caught one but it slipped off the hook while you reeled it in, because there were plenty still left. Now it’s more like there’s only one fish floating in the pool, so if you manage to get it on the line, you need to make sure you reel it in. If you manage to snag a buyer, you’ll have to work very hard and possibly compromise in order to get that buyer to close escrow and complete the home sale.
This situation may sound like a lot, but it’s simply a case of a normalizing market. What’s the upside of selling your home right now, though?
First, most home sellers will need to buy another house once they sell their current one, so if you get a little bit less from your home sale, you’ll make up for it once you buy.
If you plan on selling but you don’t plan on buying soon afterward and you’d rather rent instead, that’s fine too. Some experts are predicting that this shift will continue, so if you sell sooner, you’ll have more money in your pocket.
If you’d like to know more about this shift and how it affects you, don’t hesitate to give me a call or shoot me an email. I’d be happy to help you.