To get top dollar for your home, you need to work with an experienced agent.
Why should you hire an experienced agent to help you in this market? This is a common but important question that I’d like to address today. No matter if it’s on the buying or selling side, it takes a lot of experience to know how to navigate the current market.
An experienced agent will have a good plan for introducing your home to the market. They’ll know exactly how to stage and prepare it, price it, and present it so that you not only end up with maximum traffic, but that you also get offers for more than the list price. If you work with newer agents, you’ll want to make sure they have a good support system with whom they can confer for good advice.
Why is pricing your home correctly so important? In this market, most homes are getting multiple offers, so you might think that listing yours well above market value is a good idea. I’m here to say that that’s simply not true; if you price your home according to the most current market conditions, you’ll end up with more than what your house is worth.
At the same time, another reason to work with an agent who is experienced in handling multiple offers is that the highest-priced offer isn’t always the best offer. There are many aspects of an offer to consider, such as financing details, appraisal dates, and whether they’re willing to put their pocketbook where their pen went.
For example, say you have a property listed at $300,000 and a buyer submits an offer for $330,000, provided that your home appraises for that amount. Regardless of how many offers you get, there won’t be any comparables that suggest your home is worth the extra $30,000, so odds are when the appraisal comes in, the buyer won’t pay the difference. Instead, they’ll want you to come down on the price. In this market, you shouldn’t have to reduce your price—you should be able to pick the right person who will pay that difference out of pocket. That’s why being able to evaluate these components is so important; if you pick the wrong offer and the deal falls apart, you’ll have to relist the home and put yourself at risk of losing top dollar.
If you have any questions about selling in this market or how an agent can help you get the most money in the shortest amount of time, don’t hesitate to reach out to us. The agents in our office are all experienced and capable, and we’d love to help you find success.