On paper, it seems like it’s a good time to sell, but the question you need to ask yourself is: is it a good time for YOU to sell?
The economy has put the seller back in the driver’s seat again and homes are selling for more than the asking price. Real estate agents are trying to get would-be sellers to list their homes now, but how do you know if it’s the perfect time for you?
Buyer’s remorse is easy: you can just withdraw an offer, but seller’s remorse is not that easy to get out of.
So, let’s keep these strategies in mind to avoid falling into the pit of regret:
Develop a solid pricing strategy
Real estate agents often tell their sellers to list the house competitively so that the market receives it well and often the sellers see this as the agent pushing for a rush sale.
The truth is, the agent is just looking out for you. The most important discussion you can have with your agent is about pricing your property!
If you have concerns, raise it with them and if you find yourself resisting the agent’s price, talk through other options or make sure to get a second opinion.
The point is, if you haven’t had a serious discussion about pricing with your agent and you are not sure about the price, don’t list your home yet.
Be ready to negotiate
It might happen that your agent can negotiate a good deal for you and the house is closing (registering) within 30 days, while the new owners might rent until then and pay you for those 30 days’ rent. In this situation, it is a win-win for both parties because of good negotiating skills.
However, it might not always be that easy and the situation might not always be that advantageous.
You should be ready and willing to negotiate in any situation to see which deal would be best for both parties.
Have a clear post-sale plan
Sellers often clear out their homes when the market is hot and they don’t expect that offers will be made within a few days of listing.
Many sellers want to close the deal within 30 days. Then they sit with a sold home, but nowhere to go.
It is important to have a plan for after the home is sold and not just jump into the pool while the going is good.
Don’t get so lost in the excitement and stress of selling your home that you forget to take care of your new living arrangements!
When in doubt, stay out
And, last but not least, in some parts of the country, home selling is happening quickly and while this is great news for homeowners, sellers need to actually plan that sale weeks or months in advance.
The best way to stay engaged and to gain confidence in selling your house is to use a real estate agent and to have an open line of communication with them.
If you have any doubts about your financial situation, hold off on the listing. It’s okay to watch from the sidelines and jump in when you feel ready.
One of the biggest mistakes a seller can make is to go on the market with doubts and fail to sell. Work with your real estate agent and take the chance when the time is right.
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