Tips for Navigating Market Shifts as a Seller

Market shifts can be very tumultuous as a seller in the real estate market. As we’ve seen for the past few years, a seller’s market can be an excellent advantage for anyone looking to sell their home. Homes have been selling for higher prices and often spend little time on the market. But as we know, the market is bound to shift eventually, and when it does, it will heavily impact sellers. Below are some tips for navigating market shifts as a seller.

Work Closely with a Real Estate Agent

A trusted real estate agent will be your best tool in any market. They are there to help you sell your home as seamlessly as possible. In a seller’s market, they will be critical for helping to identify serious buyers and get you the best offer for your home. In a buyer’s market, they will be your support system. Your agent will continue to get your home in front of interested buyers and will work to ensure you get a fair sale on your home.

Conduct a Pre-Inspection Before Listing Your Home

Getting a pre-inspection, especially in a buyer’s market, is vital for selling your home. Doing this before you list your home on the market can save you a lot of trouble down the road. Not only will it help attract buyers to know that you’ve already inspected your home, but it will help you avoid delays later on.

Price Your Home Competitively

It’s important to price your home competitively without over-pricing it. To best understand how to properly price your home, a real estate agent can help provide market data and knowledge. Correctly pricing your home can help you get more interest and offers on your home. Over-pricing your property can deter buyers and result in your home sitting on the market for a long time.

Improve Your Curb Appeal

Properly staging your home can help it sell faster and for more money. Staged homes may sell between two to three times faster than those that are not staged to sell. They also go for an average of 15% more than their counterparts. This is because first impressions matter with homes. By staging your home, it will appear larger and more livable to potential buyers. Staging gives your home a blank state and allows buyers to envision themselves in the home, making it easier to sell. Especially in a slow market, it’s something you’ll want to do.

Manage Your Expectations and Be Flexible

Your expectations will be very different in each market. As a seller in a seller’s market, you can expect a fast process with few headaches. You’ll likely get the asking price or above on your home and can move on very quickly. In a buyer’s market, you’ll hit some additional roadblocks. You may still get a good amount of attention on your home, but you may not be able to achieve the asking price. Since you’ll have more competition than in a seller’s market, things may move a little slower. Interest will be spread out among more properties, so you may not get the fast close you were hoping for. Understanding this can help you determine when you should plan to move into your next home. It’s important to be flexible in each market so that you don’t get burnt out.

Navigating real estate market shifts as a seller can be tricky. When you’re in a seller’s market, it can be easy to forget that things can change. The ease you may have felt selling your home when things were good can make navigating a buyer’s market even more difficult. Make sure to lean on your real estate agent and their expertise and practice patience with yourself and the process. Before you know it, your home will be sold, and you can move into your new place. If you want to better understand the process, please reach out!