3 Things You Need to Be Doing If You Plan on Listing Your Home
Spring is right around the corner and if you're considering selling your property anywhere in the Portland area you need to know what buyers are looking for and what they're willing to pay. Knowing your competition and the market is half of the process to selling your property. If you don't know what buyers are looking for, have no idea what your competition is presenting, and don't know where to begin on pricing, you won't last a chance in this market.
We are leaning towards a seller's market but were not completely there yet. It all depends on the property you have, the price range that you are selling, and how you present your home. There are good and bad things to pricing your home in a range that a lot of people are shopping in. Between $200,000 and $350,000 is the biggest price range so you'll probably have more buyers but you'll also have more competition. If you price under $200,000 chances are you'll have a lot of first-time homebuyers and investors looking for your property. Pricing over $350,000 and your potential buyers do drop but those that are looking at your home may have a more serious intention.
Between $200,000 and $350,000, you'll have the most buyers but they may not be serious. They're also looking at dozens of other homes within this price range as well. So that's #1. - Knowing your competition.
So, first of all you need to figure out where to price your home. If you're unsure, check out your competition, do a search yourself for similar property sizes, bedrooms, bathrooms and features, and of course get an educated estimate from a Portland real estate agent. Because I deal with buyers and sellers I can help sellers price their home correctly for what buyers are looking for. If you use an exclusive listing agent they may not know what buyers are looking so it might be difficult to price it correctly. Pricing it correctly from day one is the key to getting the right buyers in the door and more offers on the table. What we want to do is find that sweet spot for buyers that gives them a little extra value than their competition at a lower price. Of course, I understand you don't want to give away the home but you do want to get it sold. We need to find out how much profit you need and how quickly you need to sell. It's a delicate balancing game and pricing it too high at the beginning could create a stagnant market for your home later on. And that’s #2 - Pricing it correctly from the beginning.
And #3 is knowing how to negotiate. Once you've priced it correctly, you know what buyers are also looking at, now you have to negotiate to keep those buyers. They may have started low but now you have them in negotiating mode. Let me, as your listing agent, help negotiate so that we don't lose the buyers but you still get the terms that you're looking for. Remember, they put an offer on your home because they love it; let's keep them loving it even through our negotiations. We need to be flexible, remember that they are buyers trying to get the best deal as well, and yet be reasonable with them.
If you think you're ready to list, let's talk about price, negotiating strategies, marketing, and staging. Give me a call today and let see where your home fits in the selling process.