If you are thinking about potentially selling in your home in 2023, there are a few things you need to know…
Tip #1: Be Realistic
The key to success today is being realistic. You need to set your expectations about where the market is now and not where it has been over the past two years. A local real estate expert will be able to provide you with the latest comparative sale prices and market data.
Tip #2: Be willing to negotiate
You will need to be willing to negotiate. In the peak of the pandemic frenzy, sellers had all the leverage because inventory was so low and buyers were willing to enter into bidding wars over homes that were available. And even though inventory is still relatively low here in St. John’s buyers do have more options than before and that means more negotiation power.
Tip #3: Price your home accurately based on the market value
Make sure you price your home at market value. Buyer demand has pulled back in light of higher interest rates. As a result, pricing your home appropriately so you can catch the eyes of serious buyers is really important. You don’t want to overreach with your price, but you also don’t want to leave money on the table.
Tip #4: Make a good first impression
And lastly, think about first impressions on buyers. Buyers are much more particular about their investment because it costs more to buy a home at today’s interest rates. So make sure your house shows well. This could include everything from staging your home to making small cosmetic repairs or even undergoing full renovations. Even your listing photos will make a huge difference. Not to mention the marketing of your home is incredibly important. So make sure those professional photos are taken.
if you are realistic about today's market, your house will still sell and together we will come up with a strategy to make sure it sells quickly.
If you enjoyed this blog and are prepping your home for sale, check out my blog on the Top 5 Repairs for Home Sellers.
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