If you’re looking to sell your home, it’s important to learn how to maximize your benefits in a seller’s market. If home sale prices in your area have increased while the number of home listings has decreased, you’re in a home seller’s market. Plan accordingly and you’ll be on the right path to getting the most value from your home and finding the perfect buyer. Take advantage of a seller’s market while it lasts and check out these four tips below…
Do Your Research
Find out what homes are selling for in your area, so you can determine the right listing price for your home. You can also find a rough estimate of the current value of your home on websites such as Redfin or Zillow.
Set The Right Price
In a seller’s market, there’s more demand than supply so you may think your best bet is to list your home for a much higher price than it’s worth. Think again. Reach out to your local real estate agent to help you set a recommended listing price to attract potential buyers.
Timing Is Key
Homes listed in the spring or summer tend to sell above the listed price. The selling season typically starts in May so use this to your advantage if the timing works for you.
Examine Multiple Offers
If a bidding war occurs, you can counteroffer, but it may be useful to examine the potential buyers first. Your highest offer can come from a buyer who isn’t pre-qualified or pre-approved or a buyer who wants to move in more quickly than you expected. Analyzing all offers and looking beyond just the highest bid can help you find the right buyer for your situation.
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