While the real estate market is always fluctuating, there are times when owners are lucky to be listing their home in a climate that favours them. This is ideal and it is much easier to create interest that leads to offers. However, there are some things to consider before putting your house up for sale. A hot market comes with its own set of challenges and homeowners can still find it an overwhelming endeavour.
Though selling your home may be less difficult, doing some research and educating yourself is always important. It’s smart to know what’s selling and what buyers are willing to spend. Take time to look into the area and talk to a realtor about similar listings like in Springfarm Yorkhill with homes for sale. Just keep these thoughts in mind when contemplating listing in a seller’s market.
- Know the Market
An experienced realtor can inform you about the market in your region. However you should do your own research as well. Talk to a realtor and look on the real estate websites in order to get a better idea of what is going on in the neighbourhood as well as the larger community. If you are an educated homeowner it will make the process much more comfortable and enjoyable.
- Do not List Too High
While you may be tempted to list your home a bit higher than those around you this can lead to a house sitting for longer than expected. Even though it may be a hot market there are still expectations when it comes to prices. Some realtors suggest setting your asking price below market but dealing with multiple offers can lead to confusion and overwhelm. List fairly and the property will sell quickly.
- Stage for the Listing Photos
Though houses typically move quickly in a seller’s market you will need to put effort into making your house look its best in order to drive traffic and viewings. Listing photos are always important and if you put time into staging the residence there will be more interest from realtors and potential buyers. Make sure the house is brightly lit and move furniture around to create a more spacious look.
- Prepare for the Open House
As with the listing photos prepare your home for realtors and buyers who are coming through during the Open House. If you are lucky many offers will result and you won’t need to worry about realtors bringing viewers through multiple times. You may not have to hire a professional stager but I suggest you declutter and clean the residence and take out furniture if any of the rooms look crowded.
- Be Ready for a Quick Sell
Often homeowners are expecting their home to sell quickly, but in a busy housing market they may sell within the week. While that is not always the norm it certainly does happen when buyers are trying to purchase a house when properties are going fast. Be sure you are ready for your residence to have an offer or two within the month and that you can vacate within a short time period.
- Consider the Closing Date
When houses are selling like hotcakes many potential buyers are hoping to seal the deal with a short closing date. You should consider whether this works for you or not. If you are planning on purchasing a house after the sale of your current property remember that you will also be buying in a market where houses are moving quickly. You’ll be another buyer in a competitive market.
- Start Packing As Soon As You List
It is likely once you put your house up for sale things will progress rapidly. If you have been living in a home for a long period of time you probably have a lot of stuff to sort through. When houses are selling within a month of being listed you won’t have a lot of time to spend organizing your things so I suggest being proactive and starting to pack even before you put it on the market.
- Have Somewhere to Go
If you are selling your home then you need a place to go once it has sold. If your plan is to buy another property then mention this to the realtor and start the search immediately. In a busy market there is always a danger of selling your home and not having another one to move into. Being proactive ensures you do not panic buy.
