Today’s spring Wilmington NC real estate market may look a lot like previous home-selling springs to many home sellers and buyers. Except it isn’t.
Yes, there’s a new crop of homebuyers. Yes, some have lists of “must-haves” and timetables to move into their next home. Yes, others are just tire-kicking, curious if they can find a better location, nicer condition, cheaper, smaller or bigger home than they currently have. And, yes, as the weather warms up more homebuyers will come out in numbers, searching for their perfect “dream” home.
Every spring, visions of dollar signs dance in local sellers’ minds. It’s understandable. Sellers are eager to get on with their lives and move to their next home. Many market factors are, unfortunately, beyond sellers’ control. Interest rates. Regional economy. Community amenities. Neighborhood schools. Property location. Home style. Floor plan. Transportation options. Etcetera.
The most powerful factor in your home sale, however, is within your control: Price.
Boil it all away and price is what sells homes today. We help home sellers, like yourself, price their home to sell in any market, in any neighborhood and in any season of the year. The right price—carefully crafted—is what will get your home sold. Let us show you some insider secrets this spring. Keep reading to find out how important the right price is to ensuring your home sells.
Think Price Range: You want your home to stand out, but will pricing it at a round number knock it out of the search results for homebuyers looking under that figure? Craft your listing price to keep your home in front of the widest group of buyers. Priced right, it might even spur a bidding war, resulting in multiple purchase offers.
Forget Your Receipts: Ultimately the marketplace will determine value. That’s why the right price is not the sum of all the investments you’ve put into your home in terms of improvements, upgrades and changes. This tally total should not factor into your home’s final listing price.
Buyers Don’t Care About Your Expenses: A homebuyer doesn’t care about your mortgage balance, second mortgage or what you need to clear monetarily in the home sale. Buyers view your home in today’s market compared to other homes of similar size, style and quality in your neighborhood and choose the best value.
Local Data Is Priceless: We can provide you with up-to-the-minute data to support your home’s listing price. Reviewing recently sold prices for comparable homes, expired listings and listed homes will help you zero in on your home’s right price.
Open Up To Negotiation: If you feel your sales price is set and final, think again. Homebuyers will expect you to negotiate. If you shut down and refuse to entertain any offers except full-price bids, you’re setting yourself up for disappointment—and an unsold home.
Treat Your Home Like A Product: Your home holds many dear memories, but at sale time, you need to separate yourself from sentimental thoughts and approach the home sale strictly as a business transaction. You’re selling a product and the homebuyer is your customer. Emotions are not part of your right price.
Price It Right From The Start: Don’t think testing the waters with a higher price when you first list leaves you room to negotiate. This strategy will cause your listing to languish with few, if any, buyers coming to tour your overpriced home. Serious buyers know they can get more home for their money elsewhere. Rather than offers with room for negotiation, you’ll simply get no offers.
Unwanted Stuff Might Be Treasured: Think about what items you will want to convey, that is, sell with the home upon closing/settlement. Identify these items before listing so homebuyers might appreciate these “extras” and put your home at the top of their serious list. Consider big-ticket or custom items such as playground equipment, large sectionals, wall mirrors, chandeliers, window treatments, firewood, patio furniture or lawn equipment. (Tip: Consider holding out a few desirable items to throw in at negotiation time to make your counteroffer look even more inviting.)
Make Sure Your Home Is Ready: The right price will bring lookers. Turn them into buyers by making your home look its best. This means de-cluttering, deep cleaning, staging, great online photos, being flexible for showings at short notice and keeping up the spotless, ready-to-sell, move-in-ready look until you get that signed purchase offer in-hand.
Give Some Security: Sweeten your right price with a home warranty to cover major systems and major price tag problems if something should fail in the first year with the new owners. Hire a home inspector before you list to check off all the little things that need attention and get a handyman to fix all needed items. If you get an appraisal done before listing, share it with potential homebuyers to show them that your home price is “priced to sell” in line with current appraisals and that getting financing at your listing price shouldn’t be an issue for the buyers.
If you truly want to get your home sold quickly and at the best price, it pays to work with a real estate professional like us. We can give you all the data you need to nail down the right price to get your home sold today!