The power of price: Top tips for sellers in the summer market
With summer finally here, we explore the power of getting the price right in order to successfully sell your home this season.
The sun is shining, the birds are singing, and the housing market is buzzing with activity. If you’re thinking about selling your home this season, you’re in luck. Summer is one of the best times to put your property on the market. But let’s not get ahead of ourselves – pricing your home correctly is the key to a successful sale. Here are our top tips for sellers to harness the power of price in the summer market.
1. Do your homework
First things first, you need to know what’s going on in your local market. Take a peek at similar homes in your area and see what they’re selling for. Online property portals are great places to start. Pay attention to properties that have sold recently as well as those still on the market. This will give you a good idea of what buyers are willing to pay.
2. Be realistic
We all think our homes are worth a bit more than the neighbour’s down the street, but it’s important to be realistic. Overpricing your home can be a big mistake. Buyers are savvy these days and if your home is priced too high, they’ll likely move on to the next one. Instead, aim for a price that’s competitive yet fair. Remember, a well-priced home is more likely to attract multiple offers, which can drive the price up naturally.
3. Consider the market trends
The property market, much like the weather, can be unpredictable. Pay attention to current trends. Are homes selling quickly in your area? Is there a high demand for certain types of properties? Understanding these trends can help you set a price that’s in line with what buyers are looking for. If the market is hot, you might have a bit more leeway to price higher. If it’s cooler, you might need to be more conservative.
4. Get a professional valuation
Whilst doing your own research is important, getting a professional valuation can provide a more accurate picture of your home’s worth. Estate agents have their fingers on the pulse of the market and can offer insights that you might not have considered. Plus, they can provide a comparative market analysis, which looks at similar properties in your area to help determine the best price for your home.
5. Don’t ignore the power of first impressions
The first impression your home makes can significantly impact its perceived value. Make sure your property is in tip-top shape before listing it. This might involve a bit of cleaning, some minor repairs, or even a fresh coat of paint. A well-presented home can justify a higher price and attract more buyers. Think of it like dressing up for a job interview – you want to put your best foot forward.
6. Be prepared to negotiate
Even if you’ve priced your home perfectly, be prepared for negotiations. Buyers will often come in with lower offers, and it’s up to you to decide how to respond. Having a clear idea of your bottom line before negotiations begin can help you stay firm and avoid selling for less than you’re comfortable with. Remember, the goal is to find a price that works for both you and the buyer.
7. Stay flexible
Finally, flexibility is key. The market can change, and sometimes you might need to adjust your price to reflect these changes. Keep an open mind and be willing to adapt as necessary. Whether it’s reducing the price or throwing in some extras, staying flexible can help you seal the deal.
Selling your home in the summer market can be a breeze if you get the pricing right. By doing your research, being realistic, and staying flexible, you’ll be well on your way to a successful sale. So, why not get in contact with By Design today to get an up to date valuation on your property and see what we can do to help get your home sold this summer.
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