Our market is hot, but there are still pitfalls for sellers to avoid.

 

If you’ve been paying attention to the news, you already know we’re in a super-hot seller’s market. Homes are flying off the shelves and selling for far beyond asking price. Even more, sellers are able to get terms and conditions they could never have imagined.

“When you price your home according to comparable sales and other statistics, you get more eyes on your home.”

However, this doesn’t mean that sellers can go out and do whatever they want. Some are jumping in haphazardly and seeing their listings fall apart as a result, so it’s important to separate the facts from the fiction regarding our market. Here are some of the most common misconceptions going around right now:

1. You have to know where you’re going before you list. Obviously, you need somewhere to live after you sell your home. However, it doesn’t mean you need to have another home purchase lined up immediately. Because sellers have power right now, it’s not unreasonable to add terms that give a seller extra time to find a new home.

2. The home’s condition doesn’t matter. You can certainly sell a home as-is, but you won’t get anywhere near top dollar. If you want to net more for your sale, you need to have a home that’s in fantastic condition. A basic rule of thumb is that the more updated and clean your home is, the more you can get when you sell.

3. You can price your home anywhere you want above the market value. We’re seeing multiple offers on homes, and many are selling far beyond their asking price. However, the only way that can happen is if the home is priced appropriately to begin with. When you price your home according to comparable sales and other statistics, you get more eyes on your home. This leads to more showings, more offers, and a better final price. 

4. You don’t need a Realtor. Sure, a seller could find a buyer without any help, but they’ll be stuck sifting through dozens of offers, figuring out different terms and conditions, and missing out on the expertise that leads to top-dollar sales. Regardless of who you’re selling to and what kind of market you’re in, you want a Realtor.

If you have any questions about our market or would like more information, feel free to reach out to me. I look forward to hearing from you soon.