Not all selling advice is good advice. As often as our market changes, there are a few tidbits you’re better off ignoring.
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With how often our market changes, some selling advice can become outdated pretty quickly. As a home seller, here are a few tidbits you’re better off ignoring:
“Wait for the spring to sell.”
Odds are, you’ve heard that springtime is the best time to sell because that’s when buyers are out and about. That’s true, but listing in the spring also means you’re competing against a slew of new sellers, which means you’ll have to price and market your home flawlessly to show buyers that it’s more desirable than the one down the street. Also, since buyers have more homes to pick from in the spring market, they’re more likely to negotiate for a lower price.
“Price your home high.”
Not too long ago, we were in a seller’s market, meaning competition was so fierce between buyers that you were almost guaranteed to sell your home if you priced it over market value. That’s not the case anymore, though. Today you need to be realistic about which homes are selling and at what price per square foot, and then adjust accordingly. The market decides what a buyer is willing to pay for your home—not you or your agent.
“Leave room to negotiate.”
Another reason sellers were pricing high was to leave room for buyers who were willing to negotiate. Our supply of inventory is higher than it was a few years ago, though, so buyers aren’t going to play that game anymore. If your home’s not priced at or close to its market value, you won’t get any buyers in the door to begin with.
“Listing in the spring also means you’re competing against a slew of new sellers, which means you’ll have to price and market your home flawlessly.”
As recently as just a few years ago, sellers were often told not to invest too much into remodeling because buyers would likely want to customize the home for themselves anyway. Not only has the market changed, but so have the buyers. Many millennials are entering the market, and one of their biggest desires is to have a turnkey home (i.e., one that’s move-in ready). Even though prices are going down, there are still several inexpensive upgrades you can make to your home that will pay off in a big way. In some price ranges, buyers will pay a premium for homes that look the part, so put some work into yours before you put up that “For Sale” sign.
“You don’t need professional photography.”
If you sold a home before and your Realtor just snapped a few quick photos of it to show buyers, you should know that won’t fly anymore. How your home looks online will influence how many buyers are interested in purchasing it.
If you have any more questions about selling your home or there’s another real estate topic you’re curious about, don’t hesitate to reach out to me. I’d love to talk to you.
