9 Tips to Get the Best Offer This Summer
The demand from buyers to find a home is at an all time high. In such a hot summer market, these additional buyers mean more offers and less time on market. These factors all contribute to making it a seller’s market, but it’s important to know how to act strategically throughout the home selling process. To ensure you sell your home at top dollar and as fast as possible, we’ve compiled 9 tips that will get you the best offer this summer and get you to the closing table.
1. Educate Yourself on the Real Estate Market to get the best offer
Before you begin the home selling process, it’s vital you know and understand the current market. Knowing these market trends will help you better understand how things work to ensure a smooth process all the way to closing. Once you feel knowledgeable on the market, review how the process works so you get the idea of what to expect. To broaden your understanding of the market, check out the blog pages from Zillow, Trulia and Realtor.com.
2. Get Competitive: Don’t Settle!
The best way to stay competitive as a home seller is to learn the ins and outs of the home selling process. As a seller, you have the power to accept, deny, negotiate with potential buyers and ask for modifications. You call the shots in this situation, especially if you truly understand each step. Don’t get cocky, but also make this journey on your terms.
3. Hire an Experienced and Professional Agent
Although the market is hot and homes are being sold left and right, a licensed and knowledgeable agent is who will really help you get through this process as stress-free as possible. Hire an agent you feel is educated on the market who has your best interest at heart throughout the entirety of this process.
4. Be Reasonable
Overpricing is always a lose-lose situation. Stay reasonable – especially with your home value. It’s human nature to think extremely high of your home, but keep in mind you may be biased. If you want to sell your home as quickly as possible, listen to your agent’s competitive market analysis and put yourself in the buyer’s shoes to get the best offer on your home.
5. Make the Necessary Home Improvements
This is inevitable. If you want to sell your home at top dollar, home improvements are a must. The real estate market today is seeing a high amount of new construction as well as home improvements; stay competitive and consider what updates you could make to your home. This doesn’t have to mean a full on home renovation, but fixing a few things here and there will add surprising value to your home and will attract more buyers.
6. Don’t Let the Money Blind You: Pricing Isn’t Everything
While the monetary value of the offer should be placed in consideration, it should not be your main deciding factor. Sometimes the highest offer isn’t the best option. Make sure to look into the other factors including if your buyer is pre-approved, the requested closing date and special stipulations as these offers often include large additional expenditures. After owning a home for 2, 5, maybe 20 years, you begin to grow attached to it. If you are a sentimental homeowner and don’t want to just pass off your home to anyone, look out for highly motivated buyers and genuine offer letters. Make sure you trust the people you’re handing this large piece of your life off too.
7. Be Upfront About Your Wants and Needs
As with any business transaction, make sure you and your agent are up front with each other. In this case, it is crucial you and your agent set clear standards regarding the wants and needs of each other. Setting expectations of the front end will save both parties time and a headache later on and get you the best offer. Stay organized and connect with your agent to establish a clear timeline of how you want this process to go. Although it may not go exactly as planned, it is advantageous of you to have these dates set in order to keep everyone involved accountable.
8. Learn to Be Flexible
You may call the majority of the shots in your home selling process, but it is important to remain flexible. Be a part of the negotiation process with your agent before he or she goes to your buyer so you can receive the best offer. The ability to compromise with your potential buyer is vital. Just as you have the right to re-think an offer, so does the buyer. Try not to get offended if a buyer either rejects your offer, or makes negative comments about the shape of your home, think of it as constructive criticism, and use it as an opportunity to make home improvements.
9.Keep Up a Good Attitude
No matter what you prepare yourself for, every home selling experience is different. Stay positive and be prepared for some ups and downs during the process. The home selling process is often long and can be discouraging, but maintaining a positive attitude is necessary to ensure getting your home sold and will get you the best offer.
With all of your hard work and preparation, you are well on your way to a successful home selling experience. Surround yourself with the right people, stay determined and in no time, you’ll be under contract! Ready to sell your home? Click here.