The Worst Thing a Seller Can Do in a Hot Market
Today, I’m diving into an important topic that could make a big difference in the amount of money you net from your home sale.
The market is hot. There are more buyers who need houses than houses for sale. That means your home is in demand and it’s not even listed yet! That sounds like great news for you and it is! As a result of this, I know potential sellers are thinking… Hmm maybe we should just put a sign up in the front yard and see what happens.
The truth is, the worst thing you can do as a seller in a hot market is to do it alone. So before you head to the local hardware store for that “For Sale By Owner” sign, keep reading.
I know you’re doing the math and figuring out how much selling your home on your own could potentially save you… but I wanted to shed some light on a few important things to consider before you decide to go that route.
If you’re looking to the internet to determine what price to list your home at, you could be losing a significant amount of money. Online home values aren’t always entirely accurate which means basing your list price on what the internet is saying could result in you leaving money on the table.
Contracts and Negotiations can feel like a foreign language if you’re not a real estate professional. Not understanding how to navigate these or having someone work in your best interest could result in sticky situations and money lost.
Demand – when you’re in a hot market, one of the greatest benefits to the seller is that they’re typically in the driver’s seat. When there are more buyers than listings for sale, your house can spark a bidding war when it hits the market. However, without an agent helping you prep your home for the market, price it strategically, market it with modern methods and really get it out there, you’re missing out on that demand. You might have a buyer or two but that isn’t going to drive the price up like it would if you had someone working for you.
My best advice I can give to someone thinking about selling is this – Before you make the decision to do it alone, do some research and find an agent who has good reviews, comes highly recommended, and who you can learn something about before reaching out. What does their experience look like? What are their clients saying? Then schedule a consultation with them to see how they can help you net the most money possible from your home sale.
Successful home selling is rooted in doing your research and making smart decisions that are going to position you in the best place possible when your house hits the market!