How to sell your home in a hot housing market

In a hot real estate market there are many properties competing for those currently looking to purchase a home. If you want your home to stand out in the crowd, there are a few things you can do.

  • Set a competitive price. This is not the time to test the waters and see how much money you can get. You either want to sell or you don’t. Don’t waste your agent’s, prospective buyers’ and your valuable time by putting your home on the market unless you are serious about selling. And if you’re serious, you’ll sit down with your agent and look at what’s sold recently in your area. This will give you a good idea of what you can possibly sell your home for. Then you can set your price accordingly. Keep in mind that by pricing it right, you also bring in the buyers looking in that price range. If you set the price too high, you may be missing out on the buyers who are not searching in that price range.
  • Be flexible. It’s relatively easy for a buyer and a seller to agree on a purchase price. Things get sticky when you start negotiating the seemingly smaller details of the transaction. The more flexible you are in regards to the transaction, the more buyers you are open to working with. Think about how flexible you can be in terms of a closing date. Are you ready to move out within 2 weeks if the right buyer comes along? Are you willing to wait 3 months if the offer is right? What type of financing are you open to accepting? Are you willing to leave behind that large wagon wheel in the front yard that the buyer loved so much? If a buyer has to choose between your home and a neighbor’s, if you are more flexible, it’s likely that you will get the deal.
  • Don’t forget that looks count. Plenty of people drive right up to your home and can dismiss it without a second thought. It may be magnificent inside, but if the curb appeal just isn’t there, you will get a lot of drive-bys and no offers. Talk to your agent. Talk to your neighbors. Do the basics like weeding, sweeping and de-cluttering. Then look at the landscape. Does it need a little sprucing up? What about the house itself? Does it need a fresh coat of paint? Try to look at it objectively. You’ve lived there and are much more willing to forgive your home for its poor looks. A prospective buyer won’t feel the same. Your home is in a beauty pageant whether you like it or not, and you need to dress that home up and go for the crown – a deal that works for you and the buyer.
  • Be active in the marketing of your home. Don’t leave all the marketing to your agent. Tell everyone you know that your home is on the market. Get some flyers from your agent and put them up at work or church or other local bulletin boards. Send out emails and pictures of your home. Finding a buyer can be a numbers game. The more people that learn about your home on the market, the better likelihood you will find a buyer. And believe it or not, people still connect with other people. You are the best salesperson for your home. You are the one who lived in it. You can tell the buyer all the ins and outs of the property and the neighborhood. Your agent is a great tool, but you are still the crux of the deal. Buyers love to talk to sellers to get a feel for what they might be getting themselves into. The more accessible you are, the better chance you’ve got of making a good deal.

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