Over the past two years, we have been a Sellers Market and are still in a Seller Market but for how long? Now, as a seller, this should not cause fear or anxiety about how to sell your home but give you more insight on how you and your agent can partner together to meet your timeline and expectations when selling your home.
What is a Sellers Market
A seller's market is when there are more buyers than homes. In these cases, sellers have more control over the market.
What is a Buyers Market
A buyers market is when there are more homes on the market than buyers. When more homes are on the market than buyers, sellers have to make their homes stand out.
Now that we know what a seller's market and a buyer's market are, for sellers, we will talk about two things you can do in today's shifting market.
- Finding yourself an experienced agent.
- Investing in the marketing of your home
Finding yourself an experienced agent
In this shifting market, the last thing you want to do is feel and be alone when trying to sell your home.
In today's market, you want to work with a knowledgeable agent who is up to date with the latest real estate market trends in your local area. When you have an experienced agent, they can help you prepare you for the seller's journey, help prepare your home to attract buyers, and help you decide on the right buyer for your home.
To choose the right listing agent for you, here are some things to consider:
- Have they experience selling a home before during this type of market
- When communicating with them, do they display excellent communication skills, especially if it may be a lengthy process?
- Do they have a marketing plan to get your house some exposure
- Are they willing to go the extra mile for you when it comes to negotiating
- Do they have a fair commission
- Are they knowledgeable about your local area and can help you decide on a price to list your home
If this is your first time selling a home, you may want to meet with two to three agents and decide which one you believe is the best fit for you and your home. Feel free to ask all possible agents questions to narrow your decision.
Finding the right agent for you will be the most critical decision in your seller's journey.
Invest in the marketing of your home
When preparing your home for sale, investing in the marketing of your home is essential.
Before investing in the marketing material, you will want to fund your finances into home repairs, revamping your home's curb appeal, and hiring a cleaning service.
These significant investments help prepare your home to give the best first impression to buyers both virtually and in person. You want a buyer to be able to see themselves in your home. Once you can make any home repairs, revamp your curb appeal, and hire a cleaning service, your agent can help you develop a marketing plan to gain exposure to your home.
According to VHT Studios' Analysis, homes with high-quality photographs sell 32% faster than those without visuals." In a shifting and competitive market, first impressions are very important.
A marketing plan with your agent could look like the following:
- Staging your home
- Professional pictures and videos
- Open houses
- Advertising
- Physical graphics/flyers,
- Email newsletters
- Open house signs
Your agent is there to help you through the process. Their knowledge and experience with the market can help you make the best financial decisions.
In a shifting market, anything can happen, but hopefully, these two tips can give you peace of mind with hopes of selling your current property.
