So you’ve decided to sell your home. Great. What’s next? Who do you list your home with? The realtor who helped you buy the place? Someone who keeps mailing you fliers? Your neighbor? Should you paint your home before putting it on the market? How much should you list it for? When should you list it?
There are a lot of things to consider when you go to sell your home and some things are more important than others. Here’s a list of things that I think are important…
1. Who do you list with? The simple answer is, me – Denny Oh(858-243-2092). But…if that doesn’t give you a good enough idea of what you should be looking for, here are some thoughts…
2. How much do you list your home for? Pricing your home correctly is very important. Listing it too high discourages some potential buyers and pricing it too low, might end up with you leaving money on the table. Depending on the market, it may or may not be clear as to where you should price your home. It typically depends on relative inventory, the time of the year, recent comparable sales and how quickly you want/need to sell. Having an agent who knows the market and can explain to you where your home should be priced is extremely important.
Your agent might not be right every time, which is why you want someone who will monitor the showings, feedback and keep up with what the market is doing. Being able to react to the market is just as important as anything else. Also, if you’re thinking that since there’s nothing else on the market that you should list your home high, think again. More than likely, the buyers will think you’re not motivated to sell and will not look at it. Then, undoubtedly, your neighbor will list their home for less and you’ll be in a price cutting war. Don’t be too greedy.
3. Repairs and Improvements. You want to make your home look as nice as you can, without putting money into it that you you won’t get back. If your carpets are trashed and you have no bathroom doors…you might want to spend some money. On the other hand, you don’t want to over do it and get a Viking range if the property is worth $300K. Bathrooms and kitchens tend to have the best return on your investment and paint and new flooring can go a long ways. Try and keep things neutral and not too specific to your own taste – trust me, most people won’t like the crazy dragons you hung on the wall. Check with your agent before you make any changes, or spend any money.
4. Do it now. Buyers(and their agents) are constantly complaining about how little inventory there is. Right now, there are only 211 active listings downtown, which is really low. If you’re waiting to sell, you may want to think again. Waiting for the summer might not be the smartest thing, especially if everyone else is thinking the same thing.
If you have questions about your home’s value, or anything else related to real estate, feel free to give me a call. Denny Oh 858-243-2092 or [email protected]. Thanks and Happy New Year.