I want to share with you a few tips to help you if you’re looking to sell your home in this New Year.
Over the past couple years, we’ve seen prices increasing and sellers receiving multiple offers for over initial asking price, but with those days behind us and interest rates now hovering at just over 6%, many are questioning whether these new market conditions are favorable for selling. I’m here to tell you that the beginning of the year is still a great time to sell your house! So with that, I have a few tips for home sellers to keep in mind for 2023.
- Manage Price Expectations
Don’t assume your home has appreciated additionally over this past year. And don’t expect to be under contract in 48 hours with multiple offers over asking. As inventory gradually increases, sellers will have more competition. We want to price the home to sell, not to sit, and to capture the attention of buyers to get them through the door.
We are not in the early half of 2022, where an abandoned shack could be sold with multiple offers in a matter of hours. Staging a home helps the buyers see what kind of furniture complements the lighting and helps them envision themselves living in the home. There is data that supports the claim that staging a home can help it sell from 5 to 20 times faster than it usually would. Buyers are looking at homes online, so you want the handful of photos they come across to blow them away.
- Embrace Negotiation and Compromise
Again, this is not 2022. Sellers not willing to budge on price, engage with repair requests, or have flexible showing schedules will have a much harder time selling their homes in 2023. Buyers have more options now … they’re looking at contracts more closely and taking their time compared to a year ago. Circumstances have changed. In 2023, be prepared to engage with and compromise with more seasoned, serious buyers who will do their due diligence.
- Work with a Proactive Realtor
In these changing market conditions, a proactive realtor will have the knowledge on how many days on-market homes near you are sitting for, how effective open houses are in the area, and what your house can do to help it stand out to buyers. A proactive realtor will have a great strategy for selling your home and help make it as smooth as possible.
I’m happy to answer any questions you may have and walk you through my team’s process in getting your home sold, so if you’re a homeowner and you’re thinking about selling, give me a call! My team and I are on standby 7 days a week, 9am to 8pm, ready to help you take the smoother road to sold.