What Homeowners Want To Know About Selling in Today’s Market

Selling in Today’s Market

If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it’s not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com explains:

“. . . while prospective home sellers may lament that they missed their prime window, in reality, this is still a terrific time to sell. In fact, according to a recent Realtor.com® home seller survey, 95% of sellers who sold their home in the past year got more than they paid for it.

Nonetheless, some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”

The key to success today is being realistic and working with a trusted real estate advisor who can help you set your expectations based on where the market is now, not where it was over the past few years.

Here are a few things experts say today’s sellers need to consider.

Be Willing To Negotiate

At the peak of the pandemic frenzy, sellers held all the leverage because inventory was at record lows and buyers were willing to enter bidding wars over homes that were available. This year, the supply of homes for sale has increased as the market cooled. Even though inventory is still low overall, buyers today have more options, and with that comes more negotiation power.

As a seller, that means you may see more buyers getting an inspection, requesting repairs, or asking for help with closing costs today. You need to be prepared to have those conversations. As Ali Wolf, Chief Economist at Zonda, says:

“Today’s market is different than it was just six months ago. . . Sellers that want the contract to move forward should be willing to work with the buyer. . . Consider helping with the closing costs or addressing many of the items on the home inspection list.”

Price Your Home at Market Value

It’s not just that the number of homes for sale has grown this year. Buyer demand has also pulled back in light of higher mortgage rates. As a result, pricing your house appropriately so you can catch the eyes of serious buyers is important. Greg McBride, Chief Financial Analyst at Bankrate, explains:

Price your home realistically. This isn’t the housing market of April or May, so buyer traffic will be substantially slower, but appropriately priced homes are still selling quickly.”

You don’t want to overreach with your price and deter buyers. At the same time, you don’t want to undervalue your home and leave money on the table. This is another area where an agent’s expertise comes in handy.

Think About Your First Impression on Buyers

Buyers have more options and are more particular about their investment since it costs more to buy a home given today’s mortgage rates. As a result, you need to make sure your house shows well. As an article from realtor.com says:

To stand out in the market, sellers should make their home attractive to buyers, which usually means some selective updates.”

This could include everything from staging the home, to making small cosmetic updates, tackling repairs, or undergoing renovations. A trusted real estate professional will help you assess what may be worthwhile to do compared to other recently sold homes in your area.

Bottom Line

To sum it all up, your house should still sell today and move quickly if you’re realistic about today’s market. As a press release from Zillow puts it:

. . . sellers need to do things right to attract the attention of these buyers — pricing their home competitively and making their listing attractive to online home shoppers.”

For expert advice on how to quickly sell your house in a shifting market, let’s connect.

Global Connections

Over 140,000 Agents Worldwide in over 110+ countries you can be assured your home will be seen around the world.

Market Share

RE/MAX Gold enjoys a near 3 to 1 market share advantage. This means 1 our of every three homes is a Gold Nation Home

$3.5+ Billion

With over 50 years local market sales and over $3.5+ billion sold you can trust your dealing with experts who will get it done

Happy Campers

Check our reviews. Our client's love us. We put in the work, and always put you first. Trust, integrity, honesty and passion!

If you live here already, you know how blessed we are. If you’re considering living or investing here, you’ve probably experienced some of the area’s extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you’ve arrived at the right spot. Whether you’re looking to buy your first home – or to sell an estate – expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals. 

What Our Beautiful Happy Clients Say

Mike Martin and The Elite Partners were a great help in finding our first home , he answered all our questions and was honest on what he could and couldn’t do. When we contacted him he got back to us within a few hours which was great , it made the whole process less stressful and fore the most part pretty easy. We love our new home and would happily recommend Mike and the RE/MAX Elite Partners.

-Jason & Amanda

Steve Cohn is an excellent realtor. When my wife and I were buying our first home he was eager to help. He knows and understands the process of buying a home as well as the market very well. Steve and the RE/MAX Elite Partners were responsive and helped us out the whole way through. I will surely use him in the future and have recommended him to a number of people already.

-Melissa & Steve

It was a pleasure to work with Victoria to sell our first home. She was very knowledgeable and helped us through the hole processes. She made sure we understood what was happening and what we needed to do as sellers. If we were staying in the area we would have helped her find our new home as well. She and The Elite Partners were able to refer us to another great agent when we purchased our next home. I highly recommend her if you are looking to buy or sell your home.

-Rachel Demario

HOME VALUE REQUEST

707.580.3499

Need immediate assistance with your real estate needs? Call or text us now.

Become an Insider and gain access to off-market opportunities

Get Inside Now

Connecting with thousands of real estate practitioners around the globe affords us lots of off-market opportunities. There is no fee to become and insider. Just use the form to the right and sign up.