It’s no secret that the housing market has been extremely favorable for sellers over the past year, and it doesn’t look like much will change in 2022. Home prices are projected to rise at least 10% as mortgage rates remain low which are all factors in helping keep an affordability balance for prospective home buyers. While there is no guarantee that your home will sell for top dollar, here are 10 tips to consider before listing your home for sale.
Know Your Buyer
If you are choosing to sell your home in 2022, you will want to make sure it’s well-maintained and updated. Just because the seller’s market is hot doesn’t necessarily equate to bypassing some important steps before listing. A fresh coat of paint, some modern staging, and maybe an addition of some smart home gadgets could help your home stand out on the market and appeal to more buyers. Many homes that are sitting longer on the market these days are often not updated and overpriced.
Staging and Photos Matter
Another important factor you shouldn’t overlook is the quality of your listing photos. Most buyers today are browsing listings online or on their phone, which can sometimes either make or break a deal. Hiring a professional photographer is a must and featuring your best photos first can be helpful to prospective buyers who might not bother clicking through the rest of the photos if they don’t like what they see.
The same outlook goes for home staging as well, which can make a huge impact if done right. Small details like decluttering or cleaning can make all the difference. Even thought the real estate market is hot, a lot of little details like these go a long way for prospective buyers who would only request a showing for homes they deem worthy of an in-person visit.
Steer Clear of Discount Buyers
Even though it’s still a great time to sell, discount buyers like Opendoor, Redfin Now, or companies claiming to sell your home in a week or less aren’t necessarily the greatest option. There is no reason to feel desperate in today’s market and taking the time to hire a quality real estate agent and going the conventional route is the best way to sell in 2022.
Consider a Price Below a Key Threshold
With many buyers browsing properties on popular real estate apps, listing your home at a certain price point could potentially appeal to more buyers. For example, should you list your property at $405,000 or $399,000? The likelihood of your final sales price sitting way above asking is high, but making a few small tweaks in numbers could end up gaining interest and really boost buyer appeal.
Discuss a Plan with Your Real Estate Agent
While this seems like a no-brainer, make sure to take the time to discuss a game plan with your real estate agent. Your agent should know what price points will work best for your area, and you will want to know the exact approach they plan on taking to get your property sold quickly. Discuss these details before you even list, so that everyone is on the same page during the selling process.
Find Out How Home Prices Fare in Your City
Make sure you are an informed seller. Do your own research on your local market to see how home prices will fare in your particular city in 2022. There are plenty of websites that offer up free home price projections and also pay attention to comparable sales in your neighborhood. You could gain some valuable insight into what your particular home lacks so that you can be prepared to make changes before listing on the market.
Consider Making Your Listing Exclusive
Another option many don’t consider is making your listing exclusive which can be a successful strategy especially if your property is in a desirable and high-demand area. Your real estate agent might decide to hold only one open house, or allow showings only on a particular date and time. Creating a feeling of exclusivity can create an added emotional urgency when home buyers feel they are up against added competition, which can result in multiple offers and bidding wars.
Wait for the Right Time of Year to Sell
Timing can be everything and not all days are created equal. Traditional wisdom has said to list in the spring if you want to grab the highest sales price for your home. However, this will vary depending on your market and property type. Have a conversation with your real estate agent on the best timing to list in your area.
Make Sure Your Buyers are Qualified Before They Visit
The pandemic has really changed the way we all interact, especially in the real estate industry. While it’s tempting to have a large number of potential buyers view your home, the process can be much safer and quicker if your potential buyers are already qualified by a mortgage lender. You can even take the next step and ask to view their pre-approval letter to see how strong of an applicant they are. A strong buyer can result in a higher sales price overall.
Be Prepared for Your Next Move
Lastly, before you list, make sure you are prepared for your next steps if your home ends up selling quickly. Right now it can be tricky to try to sell and buy a property at the same time, especially with the lack of inventory in this competitive market. Make sure you are also pre-approved so you can move quickly into purchasing a new home, or consider asking your buyers for a rent-back to buy yourself some time until you find a new home to purchase.
Overall, 2022 should be another incredible year for home sellers! Following these simple steps and doing some additional research can really help to ensure you earn top dollar for your home. All of our agents at Marsh Landing Realty are experienced and ready to walk you through the home selling process from start to finish. Contact us today to get started!