The past couple of years have seen a huge seller’s market put leaders in the industry say that the market is showing signs of slowing down. Buyers are shying away a little due to the uptick in mortgage interest rates and the concerns that another recession might be looming in the near future. High home prices with slower sales activities are not a great mix for those looking to sell their home. 
If you had plans to sell in the next six months, you might want to list sooner rather than later. This means you might need to adjust your expectations and approach. Here are six steps to take to have your home sold before the new year.
1. Set a realistic asking price
Even though it has been a hot market for sellers, you still want to set a realistic asking price. A house needs to be priced based on what nearby homes have sold for recently. You do not want to start off by “testing the market” because you are basing your listing price off of emotion. Setting an initial high asking price just to drop it later is not the best way to go. “If your home is priced too high, it can be very difficult to overcome, even when you eventually reduce the price, ” says David Cahill, a Chicago Real Estate Agent.
Take the advice of your real estate agent when it comes to the listing price. Your sales agent will go the extra mile to find comps to make sure you list to sell. In the long run, taking their advice and expertise on the sales price is paramount.
2. Ask your agent for “first look” feedback
If you want to sell before the year ends, you will need to put your best foot forward. Keep your home free of any noticeable problems. A great way to keep on course, is to get feedback from your agent about both the positives and negatives. A good sales agent will gather all of the feedback from any potential buyers who tour your home. This way you can understand what buyers like and dislike about your home. There are many defects and little things that we overlook since we have gotten used to living with them. Do not get offended about suggested changes as these can cost you a potential sale. Rather contemplate and implement these changes.
3. Clean, organize and declutter
When a potential buyer comes into your home for sale, you do not want them to see a bunch of family photos or nicknacks. You want a potential buyer to visualize themselves living in the home. An agent will advise you to take down family photos, clear out closets and do a major cleanup. “Do everything within your budget to ensure your home gives a great first impression, ” says Cahill. An easy boost to your curb appeal is to paint your front door to give your home a fresh appearance.
Your home should always be show ready at the drop of a hat. Start first by removing all clutter such as busy decorations and oversized furniture. A great idea is to rent a storage unit to store your items until you sell your home and move to a new one. Spot clean daily by wiping down the counters, sweeping the floors and touching up bathrooms.
4. Consider hiring a professional stager
Sometimes what we think is show ready, is not necessarily what a professional in the industry sees as staged for showing. Hiring a professional home stager is a great way to make sure your home is ready to show. Home stagers can arrange your furniture, art and decor to increase your chances of a quick offer. If need be, they can also provide these items temporarily until your home sells.
According to the National Association of Realtors 85% of buyer’s agents said that staging helped potential buyers envision themselves in a home. In fact, 41% of buyers who saw a staged home online were more willing to tour the home.
5. Spring for professional photos and videos
After COVID-19 buyers are used to looking online for a new home through MLS (multiple listing services, real estate websites, email marketing and any other online resource. This means that your listing must have high end photos done by a professional photographer and your agent might even want to hire drone photography. A good agent will create a marketing video to showcase your home.
“I’ve found that running ads on Facebook is superior to any other social media space, because the audience can be targeted specifically, ” says Susan Bozinovic, a Realtor with Century 21 Town & Country in Michigan.
6. Get a presale home inspection
Every home has a few issues and you never want to assume your home is in perfect condition. Hiring a home inspector before you list is a safe bet. You can fix small issues such as faulty electrical work or missing shingles. A buyer will have more confidence in a home with a pre inspection. Cahill comments that if you take the time to fix big issues upfront, the negotiation process will be a lot shorter and easier.
Remember if you are in the process of listing your home, go with a licensed realtor who can help you with these steps. A sales agents also knows the local market trends and can help you get the best possible price for the sale of your home.
