The condition of the local real estate market is a determining factor in the speed at which a single-family home is likely to sell and the price it will ultimately bring. When the market is competitive, as many across the nation currently are, buyers must up their game and come fully prepared in order to have the best chance of getting their offers submitted, noticed, and accepted.
But even though competitive real estate markets are good for sellers, they still bear the pressure of making sure they do everything they can to attract and hold the attention of highly motivated, well-qualified buyers.
Do the prep work
A competitive real estate market is not the time for putting off any of the repair, organizing, or cleaning tasks that may be needed to help the home stand out among others that may also be for sale in the neighborhood. In fact, sellers in this type of market should expect their home to begin being noticed and shown within just a few hours or days of being listed.
Most home buyers are looking for houses that will save them time and money by offering them a move-in ready experience. Sellers who can make sure their homes fulfill that need are likely to enjoy more buyer attention, get higher offers with more advantageous terms, and navigate their way to the closing table more quickly than sellers of less move-in ready houses.
Taking the time to do needed repairs, freshen finishes, clean, and declutter, before formally listing the home will help sellers offer prospective buyers the move-in ready experience they are looking to find.
Time the listing
Paying attention to the timing of the listing is smart, even in the most competitive markets. If a major holiday or event, such as Super Bowl Weekend or a popular local happening that the whole town turns out for is coming up, sellers will want to move their listing date up or back to avoid conflicts with those dates. This attention to timing will help to ensure that buyers can turn their full attention to viewing new listings, instead of being distracted by other activities and events.
Choose a pricing and marketing dynamo
Getting top dollar is not a given, even in a highly competitive market. Sellers must still make sure that their home is priced correctly and marketed aggressively. There is, however, an opportunity to push the upper limit of their price range. Sellers who opt to work with a real estate professional with a reputation for proven successfully marketing similar homes can trust that they will enjoy the best possible selling experience.