Preparing to List Your Home

Most sellers have similar goals when they list their home: 1) to sell it for the most money possible, 2) to sell it in a certain amount of time, and 3) to sell it with the least amount of hassle, stress, and aggravation. While the current housing market is generally favorable to sellers due to limited housing supply, there are several factors that can cause delays or even prevent a house from selling.

Pricing

Pricing is a critical factor that can significantly impact your home sale. While it is tempting to push the price higher to try to maximize your profit, overpricing can deter potential buyers and lead to your home sitting on the market longer.

Today’s buyers have access to a number of tools and resources to investigate the market and view available homes. If your house is priced unreasonably high compared to similar homes, it may drive potential buyers away. Listen to the feedback your agent is getting at open houses and showings. If the feedback is consistent, it may be time to re-evaluate and potentially lower the price.

First Impression

When selling your house, the old saying “you never get a second chance to make a first impression” is indeed true!

  • Freshen up the landscaping to improve your home’s curb appeal. A fresh layer of bark/mulch can have a great impact—consider it staging accessory for the exterior.
  • Remove personal items and eliminate clutter.
  • Consider updates such as paint, new flooring, countertops, hardware, or lighting.
  • Clean every corner of the home! Consider having exterior washed and windows cleaned.
  • For the best first impression, have your home professionally staged.

While you may need to spend time and money up front, this is a wise investment that will likely save time on the market and increase the sales price.

Access

One of the biggest mistakes you can make as a seller is limiting the days and times that buyers can tour your home. In any market, if you want to maximize the sale of your house, you should not limit potential buyers’ ability to view it. Remember, minimal access equals minimal exposure.

In some cases, some of the most motivated buyers may come from outside of your local area. Because they are traveling, they might not have the luxury to adjust their schedules when faced with limited options to tour your house, so savvy sellers make their homes available as much as possible.

 

Is Now a Good Time to Sell?

If you’re thinking about selling your house, low inventory is in your favor. Buyers have fewer choices now than they did in prior years, and this fact is continuing to impact some key statistics in the housing market. Below is some positive data for sellers from the May 2023 National Association of Realtors (NAR) Confidence Index:

  • The median days on market went down to 18 days.
  • 31% of homes sold above list price, down slightly from 33% April but down from 55% a year ago.
  • 74% of respondents reported that properties sold in less than one month.
  • Homes listed received an average of 3.3 offers, up slightly from 3.1 in April.

When supply is low as it currently is, your house will be in the spotlight. In preparing to list, lean on your real estate agent for expert advice based on your particular situation and listen to the feedback you get from buyers once you are on the market.

 

Debbie Austin is a realtor associate with Keller Williams, Roseville and has been helping clients buy and sell property in the area for 19 years. If you have a specific real estate question you wish to see addressed, contact Debbie at (916) 223-8144 or visit debbieaustinrealty.com.