Knowing how to sell a house isn’t as effortless as sticking a “For Sale” sign on your lawn. Times have progressed — and the good news is the market is largely tilting in your favor.
How To Sell A Silver Lake House For Sale
It’s undeniably a seller’s market. In other words, Silver Lake Home Buyers are demanding homes, but there isn’t much inventory on the market. Additionally, Silver Lake Realtors say half of home buyers are concerned about increasing interest rates and looking to lock into a home soon.
As a result, there is pressure on buyers to submit offers quickly, and to offer full or even above list price. All of this puts sellers directly in the driver’s seat—which can turn into a lot of pressure if your GPS is broken and you don’t know how to navigate this new world.
Rule No. 1: Price It Right From The Outset
While traditional wisdom might recommend listing your house a bit above market value so you can make a mint (or get haggled down by buyers to something reasonable), don’t do it. In today’s fast-paced environment, this also puts you at risk of your home sitting on the market, which can make it more difficult to sell.
If your house is still for sale after a month, buyers are going to assume something’s wrong with it. Moreover, most Silver Lake Real Estate Agents will tell you that today’s buyers are savvy. They generally know if a house is overpriced.
So list it right at market price, which your Silver Lake Real Estate Agent will help you determine. If anything, listing it a bit below market price could also work in your favor by sparking a bidding war which could drive the price up higher than you’d ever hoped.
Rule No. 2: Take Your Marketing To The Next Level
Silver Lake Realtors say that while professional photographs are a necessity, a handful of home sellers are going a step further these days. For example, you might consider doing a video tour, which entails hiring a videographer to walk through your home, camera in tow.
Ultimately, it gives buyers the sense that they’re walking through the house without even stepping foot inside. It may even enable you to sell your home “sight unseen”—which is actually how one in five buyers does it these days!
Social media is another great component to leverage your presence with. It’s as easy as spreading the word that your home is for sale by posting your listing on Facebook, Instagram, Twitter, and other social media platforms.
Rule No. 3: Go Out With Staging Your Silver Lake Home For Sale
Presentation is EVERYTHING! And these days, that means hiring a professional home stager, someone who arranges your furnishings in a way that entices buyers to bite. The payoff can be substantial.
On average, Silver Lake Realtors say staged homes sell 88% faster and for 20% more than non-staged ones. Staging is particularly important if you’ve moved out, because bare rooms can look empty and sad.
Unfortunately, staging costs can add up. Most home stagers charge $300 to $600 for an initial design consultation, and $500 to $600 per month per room. If you can’t afford to stage the entire house, at least make sure the living room and kitchen are professionally furnished, because they’re the most important rooms to home buyers, according to the National Association of Realtors.
Need an even cheaper option? Try pop-up staging (“fake” cardboard furniture that looks real) or virtual staging (digitally altered listing photos). But use these only as last resorts—real is better.
Rule No. 4: Structure A Plan For How To Handle A Variety Of Offers
With how tight inventory is today, there’s a good chance you’ll receive multiple offers. Trust us, this is a good problem to have! Still, if you’re blindsided, it can be stressful. To ease that pressure, create a plan for how you’d respond if you receive multiple bids.
For starters, our Silver Lake Real Estate Agents say there’s no hard and fast rule on how you should act. The decision depends on what’s important to you. For example, some sellers are just wanting to accept the best offer they receive and move out quickly. Others, however, might be interested in learning how to spark a bidding war to drive up their home’s price.
That said, sometimes the highest offer is not always the best offer, adding that you need to consider each offer’s full terms, including contingencies, closing window, and the buyer’s financing.
By figuring out exactly what’s essential to you in advance, you’ll be able to make an easier decision if you get a deluge of offers.