Everyone probably knows we are in a seller’s market in our market area. Stories of multiple offers and cash buyers abound. Demand is high for properties and people are still moving to Central Texas at an unprecedented rate.
While all of that works in your favor as a seller of real property, you still want to be smart and price it right, so that you don’t leave money on the table, nor shoot so high that you have appraisal issues or delays while testing the market’s tolerance to your price. Pricing correctly is still important, even in an active market.
So, how do you do that?
- Try to be impartial about your property. Every seller has to work to let go of the feeling that their home is special. It’s special to you, but on the market, it is a commodity that conforms to the dictates of the market.
- Consider your order of priorities. Ideal pricing and terms may vary depending on things that are of more importance to you. Some sellers need quick cash for another purpose, and for that seller, timing is more important than getting every penny. Do you need to lease back after closing? Are multiple transactions to be considered?
- Do your research, but consider the source. There is so much information available on the internet, but all data is not created equal. Use a Realtor portal, like Stanberry.com or Realtor.com to get accurate data. “Real estate entertainment” sites like Zillow are fun but don’t abide by data accuracy agreements like MLS participant sites do.
- Do your property prep work. Take the time to do the small repairs, declutter, and grooming to make a great first impression. We have lists available to help you decide what needs to be done, and using a professional home stager is often a good investment to set the stage to get the maximum dollar.
- A good Realtor is your best ally. With access to the most accurate and up-to-date data, combined with the experience of determining market value on a daily basis, a Realtor is an invaluable resource. Realtors can introduce you to the most competent affiliate services you will need as well, like contractors, title companies, and lenders.
If you live in this area, and you plan to sell a home, consider yourself lucky! Use these tips and the help of a good Realtor to make yourself even luckier.