The Olympics of Getting Ready

Even when there’s more demand than supply, REALTORS® are often asked by sellers why their home hasn’t sold. After almost 35 years in this business, I’ve learned that there is a buyer for every property. However, the traditional seller’s goal of selling for the highest price in the least amount of time can sometimes be elusive. Even as our market normalizes, cash buyers are common, but even financed buyers still look for a bargain. Distressed inventory is extremely low, making competition among market-rate properties tight.

Preparing Your Home for the Market

Traditional market-rate sellers have one distinct advantage: their ability to “get ready.” Properly preparing a home for the market is vital. Timing the market is impossible; there’s no perfect time to buy or sell. All things considered, it’s a great time to sell. Here’s what I know: sellers should make their house shine! I’m not talking about major renovations. Clean it, paint it, and make it look loved. One expert describes the relationship between buyers and sellers like this: buyers are “taking your house on a date.” It has to make a good impression.

Pricing Your Home Correctly

Price to sell! As I mentioned, buyers are looking for the best bang for the buck. Price below the competition. Be the best of the bunch. Buyers are out there looking. Listings become stale quickly, so price it right from the git-go! If not, buyers will sit and wait while sellers “chase the market down.” This happens even in today’s market.

Hiring the Best Representation

Sellers should hire the best representation they can find. Choose the top agent in the top office. Look for world-class marketing, but don’t expect top-notch representation at a discount. Proper marketing employs systems that take years to cultivate. Marketing is expensive, and your agent needs a marketing budget. While sellers should hire the best, they should also help with the process. Your agent knows what to do, but help them increase exposure when you can.

Considering Offers and Listening to Your Agent

Seriously consider every offer. Don’t quibble over a survey or a couple of thousand dollars—a bird in hand and all that. A home that sits on the market may result in a seller who had an offer in hand a year ago facing a smaller number this year. Lastly (and this is my personal reminder), after you’ve hired the best, listen! If they say you are overpriced, listen! If they tell you to clean the house, clean it! If they say to paint, then do it! Your agent is on your side. They are there to help you get ready and make sure your “gold medal” is in the 50-yard dash, not the marathon.