I write two articles a month. My next article will be out next week. This week I am posting an additional article from a guest blogger, Maddi Arcurio from HomeLight. Welcome Maddi! Thanks for sharing your insights here.
If you’re one of the many homeowners planning on selling this summer, you may be feeling uneasy about your plan. Well, we have wonderful news for you: now is a great time to sell! Let’s take a look at six tips to help you successfully sell your home right now.
1. Consider all factors
If you’re on the fence about listing your home, you should realize that there are buyers in the market who are in a position where they must buy. Simply put, the housing market has not halted, and low inventory levels mean that it’s still a seller’s market out there. Right now, is an excellent time to sell, and you’ll likely get your asking price.
2. Check local regulations
While the market is still chugging along, some states and counties have put a hold on real estate transactions with shelter in place orders. If you’re not already working with an agent, put feelers out to get recommendations for top area real estate agents. Once you find the right fit, you can work with them to find out what, if any, restrictions are in place in your locale.
3. Price carefully
While it’s true that it’s a seller’s market, you don’t want to price yourself out of the market. Home prices are not expected to drop, but you should be mindful that the pace at which home prices are expected to rise is slowing.
Work with your agent to come up with a price that will attract the most qualified buyers. Remember, inventory levels were already low before COVID-19, and in many areas, new home construction is at a standstill. With many sellers opting to pull their homes off the market until things have leveled out, you’ll have less competition selling now.
4. A picture’s worth a thousand words
With social distancing implemented across the United States, more house hunters are turning to the internet to find potential homes and request virtual tours. One of the greatest selling tips during coronavirus is to make sure your home’s exterior is looking it’s best. Great photos will help maximize the number of people clicking on your listing. Take some time to do a clean-up or add fresh mulch to lackluster flower beds. Your listing photos, and specifically your thumbnail, are the determining factor in whether someone clicks or continues scrolling.
Many buyers are examining properties virtually, so you need to make sure your home is in a show-ready condition when the photographer comes through. And be prepared to show even more of your home in these photos, including closet and storage areas, to give buyers a virtual bird’s eye view of all the nooks and crannies.
5. Go social
You have to think outside the box when marketing a house during coronavirus. While many people opt to share their home listings on social media, you now need to view this as a viable part of marketing your home. Sharing your home’s listing, or video tour, and asking your network of friends to share with their networks extends the reach and puts your house in front of more eyes. Somewhere in the array of networks is someone who is looking for a home in your area, and yours may just be the perfect fit.
6. Provide information up-front
Lastly, you can earn the trust of potential buyers by having house information available up-front. If inspectors are still working, a pre-listing inspection is a great way to establish rapport and speed up the sale process. If you’ve constructed additions or had extensive remodeling done to your home, have all of that information available in a binder. Include everything from warranties to contractor invoices and materials receipts.
The most important thing to keep in mind is that the housing market is still viable. As a seller, you’re in a great position; the process is just a little different with social distancing in effect.
For more on COVID-19 and the real estate comeback, check out HomeLight’s Top Agent Insight Survey from Q2 (Click here).
Looking for a qualified real estate appraiser in your area? Go to www.FindMyAppraiser.com
If you enjoy listening to podcasts, check my new podcast out. I hope you enjoy it! You can find my on Apple Podcast, iHeart Radio, Spotify, Google Podcast, Sound Cloud, Radio.com, RadioPublic, Deezer, Breaker, Stitcher as well as other feeds. You can also listen right here at Cleveland Appraisal Blog! www.homevaluestories.libsyn.com
Are you looking for stats, and just the stats? Check out my Cleveland Appraiser Stats on Housing podcast. In it, I provide 2-3 minute episodes that give you housing stats on specific neighborhoods in Northeast Ohio. I hope you find it useful! You can find my on Apple Podcast, Spotify, Google Podcast, Pocket Casts, Overcast & Radio Public.
You can also listen right here at Cleveland Appraisal Blog! www.anchor.fm/cash-appraiserstats.com
Here are some links to other articles and podcasts I’ve enjoyed recently! I hope you will also…
U.S. Housing Has Been Making A Bad Situation Look Good – Housing Notes by Jonathan Miller
Sellers, you don’t need 20 offers – Sacramento Appraisal Blog
How To Avoid Appraisal Issues When Using An Escalation Clause – Birmingham Appraisal Blog
Will Homebuyers Love or Hate That Your House Comes with a Hot Tub? (I’m honored to be mentioned in this article. Thanks Emma!) – Home Light Blog by Emma Diehl
Low Supply, Huge Demand, Prices Climb – August Newsletter – DW Slater Company
AVM’s vs Appraisals: Enemies? Part 1 – George Dell’s Analogue Blog
The Con, We Were All Sold a Lie – THE CON 5-Part Docuseries
Newz: Humor – Castle in Ohio – Appraising Weird Stuff – APPRAISAL TODAY