Understanding A Seller's Market: 2 Personal Stories
I am sure that you have heard the term 'Seller's Market' by now, but do you know how that applies to you? Let me share two stories from this week.
Last Thursday, we gave the green light to a 2 bedroom condo we listed in Royal Oak. Within hours, there were 6 showings lined up, 2 offers came in on Saturday, and by Sunday evening, we were under contract for over asking.
A few minutes ago, a friend that I referred to another Keller Williams realtor in northern Florida, told me that shortly after placing her home on the market, she had multiple offers flying in, with a Best & Final scheduled for this Thursday evening. All signs say that she will get over asking, as well.
So, is it magic? Do you just put your house up for sale, and then BOOM?!
Well, with low inventory across the nation, and a steady stream of ready and willing buyers, the pump is primed for high market value sales. However, there are still some important factors that you want to consider to maximize the sale of your home:
1. Are you properly pricing your home? This makes all of the difference. A good realtor will know what fair market value is, and how to price your home in such a way as to obtain the highest possible offer.
2. Is your home competitive in value? A good realtor will be able to help you prepare your home for listing day. They will know how to showcase your home's strongest features, as well as highlight your home's competitive value proposition.
3. Marketing, Marketing, Marketing... The time period after a home is first listed is critical for selling at top dollar. Make sure your realtor knows the whats and hows of effective marketing trends. The importance of a live MLS, such as our Realcomp, cannot be underestimated in today's market!
4. Someone to Manage the Process... With everything moving so fast, and multiple offers flying around, you have to make sure all of your i's are dotted, and your t's crossed. Hire someone who understands process, and who is committed to managing the sale all the way from the initial listing to the closing table.
Now is a fantastic time to sell. If you, or anyone you know is considering selling their home, Tim and I would LOVE to help, and we always appreciate our clients, and their referrals.