The decision to sell a home is not one to be taken lightly and it certainly is not one that is made overnight. Typically, there is much home value research and consulting with a real estate agent that begins many months or even years in advance to making that big of a decision. Often, the decision to sell a home is the result of some major life event, ranging from marriage to retirement, or even a new addition to the family. These events sometimes are not planned, which can result in a sudden need to sell a home. Here are some things that a potential home seller should consider before making the decision to list their home.
Listing your home for sale without a new home to move into or without a solid plan for once your home sells is a recipe for disaster. Sellers often assume that there will be ‘plenty of time’ to develop a plan while their house is on the market, and that plan can easily backfire. There should already be a solid ‘Plan B’ in place in the event that a home sells rather quickly.
Sometimes sellers will make a flighty decision to ‘test’ the market by listing their home for more than it’s worth just to see if they can get an offer. This plan can do more harm than good by hurting the chances for a more well-thought out real estate transaction in the future. The market is smart, and rarely will a knowledgeable buyer overpay for a home.
People often consume themselves with trying to time the market perfectly for certain real estate transactions. This is nearly impossible even for the most knowledgeable real estate investors. It makes far more sense to plan for the market when life allows.
- If you know that you have a new baby on the way, take advantage of the current marketing conditions.
- If you know that your new job is too far from your current home, start planning immediately with a local real estate agent and make the most of the time that you have to make an informed decision.
- Simply knowing what time of year that you plan to list your home will allow you to prep your home, make necessary improvements and get your home ready for the market.
- A seasoned local real estate agent can help you plan for the market and capitalize on the current market conditions. Their job is to analyze current inventory, evaluate the competition and know when the perfect time is to list your home – take advantage of all that they have to offer.
If you list your house too soon, at too high of a price or while in poor condition, you risk sitting on the market for long periods of time with no action, and all buyers have access to your home’s every move while on the market.
- If you overprice your home in its original listing, leaving you no choice but to potentially go through a series of price reductions, this doesn’t send a good message to potential buyers.
- If you listed your home before it was in proper condition, those old photos will still be there for the buyers to see, even after you come to your senses, update your home and post new photos.
- Even if you make a new listing for your home at the right time, the right price and the right conditions – all of the old listing activity sends a negative message to the buyers that will raise red flags and decrease your chances of optimizing a sell.
Do you think you are ready to sell your home? Melissa Clements is a seasoned real estate agent with ample experience and knowledge regarding the real estate market. Give her a call today – she would love to help you develop a plan for selling your home and set that plan into motion.