If selling your house and embarking on a new journey is on your agenda for this year, you're likely facing a mix of emotions, from excitement about the future to a hint of nostalgia for your current abode.
To ensure a smooth transition and bolster your confidence in this decision, consider these three crucial practices when the time comes to sell.
1. Price Your Home Appropriately
The real estate landscape underwent shifts in 2023, marked by rising mortgage rates and a normalization of home price appreciation. As a seller, understanding the current market and working closely with a local agent is paramount. Hannah Jones, Economic Research Analyst for Realtor.com, emphasizes the importance of strategic pricing:
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
Avoid pricing your home too high, which may deter buyers, and steer clear of undervaluing it, leaving potential money on the table. Rely on the expertise of a seasoned real estate agent to determine the optimal asking price, ensuring a swift sale at top dollar.
2. Manage Your Emotions
Current trends show that homeowners are prolonging their stays, with the average ownership period increasing from 6 to 10 years since 1985, according to the National Association of Realtors (NAR).
This extended tenure often deepens emotional connections to the home. Whether it's your first property or the place where your family blossomed, sentimental value can cloud your judgment when determining a fair market price.
To navigate this, enlist the help of a real estate professional for negotiations and pricing strategy. Trust their expertise to balance emotional ties with practical market considerations.
3. Stage Your Home Effectively
While your personal decor choices may be a perfect fit for you, they might not resonate with potential buyers. Achieving a favorable first impression is critical, appealing to the broadest audience possible.
Buyers want to envision themselves in the home, picturing their furniture and belongings in the space. Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, underscores the importance of staging:
“Buyers want to easily envision themselves within a new home, and home staging is a way to showcase the property in its best light.”
Rely on the insights of a real estate professional to guide you in preparing your home for a successful sale. For a seamless home-selling experience, connect with a local real estate professional who can expertly guide you through the process, ensuring you prioritize these essential steps.