If selling your house is on your to-do list, you’re probably wondering how your sale might be affected by the cooling housing market. Although we are starting to see the landscape shift, it’s still very much a seller’s market.
Like most real estate transactions, the secret to getting the best deal possible is working with an experienced real estate agent. Not only will they be able to help you set realistic expectations based on current market trends, but they will also help you keep on open mind when accepting offers.
In order to sell your home in today’s market, you need to be able to:
Be Open to Negotiations
During the pandemic, housing inventory was extremely low. This forced buyers to out-bid one another on the available inventory, giving sellers a lot of leverage. These days, the inventory has begun to increase, and home buyers now have more options giving them a bit more power to negotiate.
Sellers now need to be more considerate of buyers requesting home inspections or repairs. Some are even looking for assistance with closing costs. Sellers are now encouraged to be willing to work with buyers who have concerns if they want to sell their home.
Price Your Home According to the Market
Mortgage rates also play a big factor in today’s real estate market. With the higher mortgage rates we’re seeing these days, buyers are looking for less expensive houses. It’s important for a seller to price their house appropriately to get the attention of a those who are serious about purchasing a home.
The housing market is beginning to slow, but homes that are priced appropriately according to the current market trends are still selling rapidly.
Consider Your First Impression
Given the rising inventory along with high interest rates, it’s clear to see why buyers are becoming pickier with their purchases. A home’s first impression carries a lot of weight when it comes to real estate.
To help yourself stand out, sellers need to make their home presentable and inviting. This might include making some repairs, cosmetic improvements, or even taking on a major renovation project. Your real estate agent will be able to help you determine whether certain parts of your house need to be fixed up for not.
In order to sell your home effectively in today’s market, you’ll need to keep your goals realistic while also maintaining an open mind.