Back again now with our special “The Spring Market.” All about the tactics, techniques and strategies for thriving in the hottest real estate market of the year.
We’re going to wrap up this hour of the show with some seller strategies. And we’ll do the same thing for buyers – at the end of our next hour.
If you’ve decided to sell in the spring market, 2020 – congratulations. Good move. More homes sell between the months of April and June, than in any other part of the year. It’s prime time…when sellers have the best possible chance of selling for the maximum profit in the minimum time.
Think about it. Prices are still rising. That’s good for sellers. Plus, there are more home buyers – than homes for sale! That’s good for sellers, too…because you might just find so many buyers want your place – they start a bidding war! The price could go way over list. But – talk that through with your REALTOR®. Because if those bidding buyers are getting mortgages – there will be an appraisal…and that could be a problem.
Now, the most important strategy is also — something you can expect to discuss with your REALTOR® — pricing it right. If your house enters the market at the right price – you have the best possible chance of selling it quickly. Price it too low? You’re just giving it away. Price it too high? It might just sit there, month after month, while other places that ARE priced right – sell fast.
Your REALTOR® will provide you with solid market data – about what houses sold, and for how much. They can also tell you what DIDN’T sell – that’s huge – because if you see a few places that are just sitting there – their prices might be the reason.
And most of all – you do NOT want to enter the market high…and then reduce the price. That’s what some agents call the death spiral…because buyers see the price dropping – they figure the sellers are desperate, and hit you with a low-ball offer. That’s bad news.
And one more thing about price…Use your REALTORS® data when pricing your home…not guesswork. A lot of homeowners do their own math – like – ‘I bought the place for 400…and put in 50 grand worth of improvements, so I need to get at LEAST 450.’ Well, it sounds logical, but the market will decide the value of your house…not you. So talk it over with your REALTOR®.
Next up – make that house shine. Make it look so good, you don’t want to leave. So good, you might change your mind about selling it. So good – the buyers want to write an offer the first time they see it. It needs to be squeaky clean, with all the repairs – done. Touch – up paint – done. Lawn and garden clean – ups – Done. And here’s a great tip – set the dining room table. Just like Thanksgiving, with the good china, the good glasses, the good silverware…candles, and a centerpiece. Buyers will love that. Because what will they think when they see it? They’ll think about having their own thanksgiving there – this fall.
Finally – one of the best seller strategies out there? Try saying ‘yes,’ more than ‘no.’ If a potential buyer makes a request, about the closing date, or the curtains in the living room, or even the gas grill they would like you to leave behind…just try saying yes. If they’re offering good money for the house, don’t let the little stuff get in the way. Stay on track – towards a successful sale – for the maximum profit in the minimum time.
And remember, you won’t be in this alone. Your REALTOR® will be right there by your side, helping you navigate the deal – in the busiest, most exciting, and possibly the most lucrative market of the year. “The Spring Market.” Here we go.