Although the number of total housing transactions completed in 2022 and 2023 indicates a downward trend since 2021, putting one’s house on the market doesn’t have to be intimidating. Understanding and executing the right strategies will empower homeowners to edge out the competition and attract eager buyers.
Update the House
Updating one’s home is a great way to maximize its value and attractiveness to potential buyers. In fact, a recent survey found that 67% of buyers said they would only consider homes with updated features and layouts. To that end, it is important to start with the bathroom and kitchen, as these are the most used rooms in a house concerning appliances. Fix any broken or faulty appliances and, if budget permits, update existing appliances or make renovations where necessary.
Once kitchens and bathrooms are updated, sellers should examine the rest of the house, noting anything from a cracked window to a burnt-out lightbulb. The home must be fully functional during open houses and walk-throughs; even something as minor as a loose doorknob could discourage a hesitant buyer, leaving them to question what else might be wrong. Homeowners should also consider deep cleaning, decluttering, and depersonalizing to make their homes as appealing as possible. It is likewise advantageous to stage your home with the help of a professional.
Research the Market
Understanding whether it is a buyer’s or seller’s market will determine how much one can reasonably sell their home. At the time of this blog being written, all indicators, including the current housing inventory situation, show that we are in a seller’s market. However, as certain variables change, we could enter a buyer’s market, making selling more difficult as buyers can afford to be pickier.
Beyond the larger US market, sellers should research their state and local housing market. Resources like Realtor.com can help you determine suitable listing prices by comparing them to recent sales in your neighborhood. Nevertheless, don’t treat two homes as carbon copies – note the variables like square footage, location, etc. An experienced realtor can provide much-needed insight into these situations, allowing you to settle on an ideal listing price.
Pick the Right Agent
If you’ve noticed a trend with these different tactics, it’s that updating your home and researching the market requires the expertise of a realtor. Picking the right agent is as important as any other step on this list. Notably, choosing the right realtor can maximize your return on investment. As a result, it is vital you carefully interview every possible realtor.
For starters, a qualified realtor should possess ample knowledge of your local market to set the most competitive asking price. Importantly, a realtor needs to be a master at making the complex simple – in other words, they must have a concrete plan of action, including thorough explanations of every step of the process. A potential realtor must also have experience staging homes, planning photo shoots, facilitating open houses, etc.
Contact NMC Today
NMC can strengthen your chances of selling your home at the highest possible price. Our knowledgeable team of realtor veterans has experience helping homeowners sell properties in Orange County, CA, including Texas Hill Country suburbs, neighborhoods, and up-and-coming regions outside central Austin.