Despite what you read online, homes are still selling for top dollar around the country-albeit at a slower pace. How? Find out below.
For the first time in recent memory, homes are sitting on the market for weeks, or even months at a time. All indications are pointed towards the market starting to shift, which means sellers need to adjust expectations, and approach selling differently than they did last year to get maximum value.
Securing the best deal in the least amount of time requires sellers to understand market conditions, property values, and look at their current home through a different lens. Read on to put yourself in the best position to sell your property for maximum value in 2022.
Understanding your home’s current market value
Positioning your home for a quick sale in today’s market starts with understanding the true value of your property.
Unless you’re an experienced real estate professional who understands property values and the ever-evolving real estate market, it’s likely you’ll have some blind spots.
This is where a knowledgeable Flyhomes Agent comes in handy. Our agents can complete a comparative market analysis, (CMA) which will reveal what similar properties in your area are selling for, how long they stay on the market, and more.
Comparing similar properties
If you’re going to look at properties in your area, start at Flyhomes.com – and click the top right corner and enter your address. From there – you should be able to use the map view to look at comparable market data.
Not only should you look at the attractive homes that are selling well, but also the ones who have been sitting on the market for extended periods of time. Consider what the common issues may be among properties that have not yet sold. Things like poorly taken photos and lack of staging can negatively influences a buyer’s perception of a home.
Most often, the amount of effort a seller puts into preparing their home sale could be a reflection of how well they took care of the property while they lived in it. Last year, sellers could get away with homes needing repairs, little to no staging, and other blemishes. Now? Buyers are pickier, as they know there’s not as much competition.
Understanding what is currently supporting and hindering home sales in your area is key to deciding how to go about yours. Running comps will also allow you to pick up on selling points you should highlight when listing your home.
Assess your property and make a plan
Here’s some ways you can increase your home’s value before selling:
- Clean, declutter, & depersonalize
- Let natural light in
- Stage your home
- Invest in professional photography
- Consider creating a 3D-tour
- Enhance curb appeal
- Perfect the entryway
- Repaint walls in neutral colors
Setting realistic expectations
Selling your home is an emotional process, especially if you’ve lived there with loved ones and created lasting memories over time.
However, it’s important to remember that how you view your home is unique. Not everyone will view it through your eyes.
Although you don’t want to leave money on the table, you also don’t want to price your home too high. Lowering your price in the future is sometimes too little too late, and could even hurt your chances of making a sale-creating a perception that your home is undesirable.
A home that’s overpriced from the get-go tends to stay on the market longer, even when the price is cut later on. If you price your home too low, you could end up selling your home for much less than it’s worth. This is why pricing your home accurately from the beginning is so important. If the price you need to sell at and the prices, you’re pulling from comps are drastically different, maybe right now isn’t the best time to sell, after all.
The biggest takeaway here is the selling your house for the most money with the quickest turnaround time means you’ll have to accurately price your home from the start.
This requires you to understand your home’s true value in the context of the current market, choose the right selling strategy and be realistic with your home sale expectations.
Figuring out what your home is worth and preparing it for a successful sale isn’t complicated, but it does require a bit of leg work.
We’d love to help you on your real estate journey. Click the link below to get started with Flyhomes!