Planning to sell your home in one of America’s hottest markets this year? Whether this is your first, fifth, or tenth time selling (not uncommon in a military city!), it is normal to have expectations when listing your home, especially in a seller’s market. As experienced real estate agents who have been working with buyers and sellers in the Pikes Peak region for a combined 42 years, we are skilled at helping clients adjust their expectations and walk away from closing as satisfied sellers.
To help get you started, we’ve put together a list (split into two blogs) of our top seller tips:
1. DON’T Assume You Can Sell Your Property Over Market Value
DO Consult Your Realtor for Neighborhood Comps and Expert Advice on Listing Price
Many sellers, specifically first-time sellers, assume they can list their Colorado Springs property over market value because of the hot market. These sellers are usually mislead by well-meaning friends or HGTV shows—this is completely normal. While Colorado Springs IS an extremely hot market and homes ARE selling for above-asking price, it’s important to sit down with an experienced realtor and have your home appraised before choosing a number.
Over listing your home can cause the house to sit on the market for far too long, stigmatizing the property as potential buyers begin to wonder why there are few showings and no offers. On the contrary, under-listing your property (with the guidance of an experienced agent) can generate a ton of interest and lead to a bidding war, earning you more than if you were to have over-listed! This is not for the weak of heart though, and a seller should always work with a qualified agent to strategize and determine the listing price.
2. DON’T Avoid Home Repairs
DO Fix Any Serious Home Problems And/Or Negotiate Them Into the Sale
Home repairs can be a serious issue, especially during the inspection phase. Many sellers assume that, because Colorado Springs is such a hot market, their home will sell despite needed repairs and upgrades. Unfortunately, this is not the case and can really backfire for sellers. Taking care of your home shows that the property has been well-cared for and eases the mind of potential buyers who may be skeptical of undisclosed and costly repairs.
If you want to sell your home fast and for asking price, make sure to fix problems and/or negotiate repairs into the contract. This ensures happiness and a quick sale for all parties.
3. DON’T Skip Staging and Curb Appeal
DO Create a Welcoming Environment and Enlist the Help of Professionals
You don’t need to be a design expert or even have the most stylish furniture, but sellers should stage their home. Again, just because the Pikes Peak region is hot right now does not mean you should skimp on details that have been proven to help homes sell faster and for more money. First impressions are everything, even in a hot market. As experienced realtors, we can recommend professionals in Colorado Springs, as well as share our own staging tips and tricks to really impress buyers (and sell your home)!
Curious to learn more about seller expectations? Stay tuned for Selling Your Home in the Hottest Market: What To Expect Part 2, to be published this Friday!