June 5, 2024
5 Things Seller’s Can Control
During the pandemic, seller’s felt like they were in full control of the housing market with all the bidding-wars and cash offers for their homes. Today, seller’s are beginning to feel as though they are losing control over the market while buyers hold back due to increased home prices and interest rates. We are here to remind you that although the market has changed, we are still in a seller’s market. Buyer demand remains higher than inventory levels, and here are some things to keep in mind as a seller that are still in your control.
- The Price of Your Home
Everyone wants top dollar for their home, however, simply placing your home at the highest price possible really does not get a seller too far besides increased days on the market. Seller’s have the habit of seeing a neighbor’s home sell for a high price, and assuming theirs must go for the same, but fail to think about the strategy and work it takes, along with timing of placing your home on the market.
Every seller has their own personal goals and ultimately an agent works for you and will be listing the home at your price. However, listening to your agent on how to get your desired price is key, and you may find that the higher the price, the more work needed to be done on you and your agent to prepare your home for the market.
- Negotiations
You can always control negotiations in whatever type of market you are in. Negotiations don’t just come down to the sale price either, you can negotiate other things like closing costs, closing date, home warranties, personal property, and other miscellaneous terms of the sale. Jim Slater is a certified negotiation expert and can be of big help when it comes down to negotiating for the best offer for your home.
- Timing
Unless you’re needing to move unexpectedly, it is suggested that you try to plan to sell at peak real estate seasons, like Spring and Fall, or right before the end of the year here in Minnesota. If you can avoid down seasons like the middle of summer (this all depending where you are located), it is best to do so to truly take full advantage of the market and receive top dollar for your home. As a seller, you can control this by planning out when you want to list and allowing the time to make necessary improvements and repairs before doing so, along with finding the right realtor to assist with the sale.
- Repairs
Speaking of repairs, you get to choose what repairs and updates you will do to your home before putting it on the market. Jim would always suggest a fresh coat of paint, upgraded appliances, new carpet if needed, and some upkeep on the landscaping to enhance the curb appeal to increase the desirability from buyers and ease of the sale overall. However, we understand that that’s not a part of every seller’s plans. The best way to be in control of the sale regarding repairs is to know your home inside and out so there are no surprises when the inspection comes around, and have a full understanding of what requests from a buyer you are willing or not willing to do when it comes down to it. Of course, a realtor like Jim will be here to help you understand what is reasonable and what is not.
- Your Agent
You get to choose your agent, and this is an extremely important part of the process as it can affect the other four steps we just discussed. Your agent is here to help you in every way possible to get top dollar for your home, they should be able to guide you through all the pre-market steps, just as well the on-the-market steps. Jim Slater truly understands what it takes to be a listing agent, with his 30 years of experience and expertise, he understands the psychology of sellers and buyers alike and is here to help you from the planning stages to closing. Sooner or later, you’ll call Jim Slater!
