Most Important Considerations:
Pricing Strategy: Critically important
The lack of inventory and a very aggressive buyer pool are making this market very profitable and advantageous for sellers. In order to capitalize on this market, make sure your pricing and marketing roll-out strategy are in sync. Make sure you have an expert in your corner that is well versed on negotiating, specifically negotiating in multiple offer situations. If you have chosen the right price, plus the right strategy and the right person to represent you, you will be in a position of power in this market and will get absolute top dollar for your home.
It is important to look at your home objectively through the eyes of the buyer. This step could mean the difference between you collecting a few offers or you collecting many offers when your house hits the market; this preparation step is very important and often overlooked by listing agents. Given current market conditions, you very well may have the opportunity to capitalize on top dollar like never before – make sure you are fully prepared and your agent has offered suggestions that will improve your equity position.
Staging, professionally taken photos, and a comprehensive marketing plan, including a strong social media reach are essential to ensure your property is presented to all buyers in the best possible light. The marketing and roll-out strategy should create a lot of excitement around your listing. This positive energy and exposure very well may be the reason the buyer chooses to compete when making an offer on your house. The more offers you can engage, typically means more money for you at closing.
The person you choose to represent you in the sale of your home will be pivotal to your success. Choosing an agent who has community expertise allows you someone in your corner that understands the buyer, and knows how they think. This agent should know what the buyers value, that way they are best postured to give you best advice throughout the transaction. Understand that every word written about your home, every conversation had about your home, every decision, marketing tool, follow-up or lack of, impacts your end result. Agents representing sellers need to be able to successfully navigate through a changing market. This involves not only keeping current on real estate trends, projections, and current inventory, but also knowing how to utilize this information to the seller’s benefit.