A Guide to Selling Your Home in a Competitive Housing Market
Since 2018, the value of a home in the US has increased by over 7%.
If you’re thinking of selling your home, now might be a great time to get a good price. But today’s housing market is competitive, which can make the process time-consuming.
Fortunately, there are some tricks for selling a home faster. We’re revealing our top four below. Keep reading to learn more.
- Hire a Real Estate Agent
Yes, representing yourself will most definitely save you money in the process of selling your home. But not hiring a real estate agent won’t save you time.
Real estate agents are professionals with the skills and resources to get your house sold quickly. They’ll know how to stage your home, how to price competitively, how to negotiate, and all the ins and outs of your particular market. Of all the tips here, this is probably the fastest way to sell house.
- Set a Realistic Price
This is connected to getting too emotional around selling your house, which happens to a lot of homeowners. Of course, this is your home, and it has a lot of memories and sentimental value. But memories and sentiment don’t translate into a competitive market.
The price you set for your home should be realistic. Your real estate agent can help you set a price that’s appropriate for where you live and the state of your house. And don’t worry about going too low, either, because this can generate multiple when you’re selling a house (and that’s a good thing).
- Staging and Listing Photos
First impressions last the longest, and that’s very true in real estate sales. To attract the right buyers, make sure you’re presenting your home in its best light.
An experienced real estate agent will know what we’re talking about here, but just to cover some basics:
- Limit the color scheme and stay neutral.
- Clean and declutter.
- Remove any personal items such as family photos.
- Make sure every room has the best lighting.
- Take crisp, clear daytime photos with natural light.
You might also consider having a 360-degree video tour of the home to really give potential buyers a sense of what the home is like. This can easily be recorded and edited on a smartphone.
- Bonuses in a Competitive Housing Market
This isn’t a retail sale, and you’re not going to offer 25% off to the lowest bidder. But there are incentives you can offer to make yourself stand out in a competitive housing market.
Your real estate agent will know what might work best. Some potential ideas include contributing to closing costs, paying for a pre-home inspection, or negotiating the listing price.
More Help with Your Home
The housing market is hot right now, but it’s also competitive. To sell your home quickly, you’ll need to hire a great real estate agent and set a competitive price. It’ll also be helpful to stage the home beautifully and perhaps even offer bonuses.
And for more help with the entire moving and settling process, check back on our Home section along the way.