My Top 6 Words For Sellers

There are some emerging dynamics that have contributed to this very complicated market for both buyers and sellers. If I was sitting in front of a seller here would be my top 6 words of advice to effectively deal with this market:

1. Photos-Stunning photos become so critical as 90% of all buyers begin their search on the internet. Bad photos can help your home be eliminated quickly from a crowded pool of listings. Also, if a website allows for 20 photos, get 20 photos online.

2. Condition-Take care of any issues or objections that would create hesitancy in buyers in making a decision to seriously consider your home. As inventory builds in a price range, poor condition stands out, to the distinct disadvantage of the seller.

3. Pricing-In the past years, sellers could list at the high-end of the range of comparables and not be seriously affected. As a seller, you will be swiftly penalized in the market by buyers or just ignored. Either way, your home won’t sell and your listing will languish on the market.

4. Appraisals-Always an important part in which lenders make sure that their new asset is within the range of other comparable properties. Quick appraisals are also being done late in the process to safe-guard against any significant market shifts. So, if a seller was fortunate enough to get a buyer that was willing to pay more than market value, an appraisal that doesn’t match the selling price will create a red flag with the lender.

5. Time-Everything is taking longer. The mortgage process, the inspection process, the negotiations, the renegotiation and closings. Be patient and diligent and hire the right people to work with you throughout the process.

6. Cycles-Throw out any concepts of “cycles” in real estate because there seems to be little rhyme or reason to some of the activity. Don’t think that waiting for “The Spring Market” will cure your ills as a seller. Nothing magical is happening in Spring since the market has so many shifting variables. Aggressive pricing is the key to getting the attention of buyers.

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