Thinking about selling your property? Chances are, you probably have spent a good amount of time thinking about it. So, what’s keeping you from taking the next step? Perhaps you have been considering the uncertainty of the market, or how much you are going to earn from selling your property. If you really want to get the best price for your property, it is recommended that you shift from a buyer’s market to a seller’s market.
What is a seller’s market?
When you sell a home, the market is different from a seller’s market from a buyer’s market. A seller’s market means that the demand has started to exceed the supply. Also, this condition can benefit a lot of landlords. That being said, sellers have the ability to raise prices because they know that there is a demand from buyers to meet the price no matter how high it can be.
As a result, this gives sellers more freedom to pick and choose between different offers. Before, it was about choosing the strongest offer but with them seller’s market, the seller can now look at the highest price and make the decision without being pressured or getting worried at all. With the seller’s market, the number of homes for sale can become few. Remember, when there is not much to choose, the nicest home will attract the attention but the ugly homes will sell nonetheless because there is a demand for it.
How to take advantage of a seller’s market
With low supply and high demand, it is important that you know how to take advantage of a seller’s market. After all, this is not always the situation so grab it. Here’s how home sellers can make the most out of a seller’s market:
- Be wise when setting your selling price
While you might want to make your price higher because you wanted to sell higher, it might not turn out the way you want it. If your price is way too high, chances are, your home will sit on the market longer. You might do some price adjustments before you can sell it. Also, don’t price your home too low. You might get paid lower than what your home deserves – based on home prices. Talk with your real estate agent for the right price range.
- Prepare your home
Eliminate unnecessary furniture and clutter. Allow your potential buyers to visualize themselves living in your home. By putting the right furniture, right color and décor, you can increase your chance of selling your home by 73%.
- Choose your day to let your listing go live
The perfect day is just before the weekend like Thursday. It allows homebuyers to arrange their schedule over the weekend and can plan an open house viewing.
- Be ready to move
Homebuyers are excited, that is why they would want to move to their new home in an instant. If you haven’t moved out yet, rent an apartment where you can put all your things and live there temporarily until you can move into your new home.
Take advantage of the seller’s market by knowing how to do it. Maximize your asset not just by selling at the highest price but by selling at the right time.