Homeowners can take advantage of the seller’s market – The majority of markets currently favor sellers. Thus, your home will probably only be on the market for a little period of time, and you can receive several offers, which can sometimes result in an increase in the sales price. Just though it’s a seller’s market (a “hot” market), doesn’t mean it will be simple to sell your item and make a profit. You still need to do a few things well and move quickly if you want to profit from this market. So let’s look at some strategies that Pasadena homeowners can use to their advantage now, before it’s too late.
Why You Should Take Advantage of the Seller’s Market
But first, why should homeowners in Pasadena be concerned about seizing the seller’s market before it’s too late—a market that is characterized primarily by high demand and little inventory?
Experts advise that since competition is fueled by pent-up demand, doing so is generally a smart idea. The likelihood that you’ll make more money on the sale should improve if there are more persons trying to buy a home. Even less appealing homes will attract a lot of buyer interest because there may not be many available homes to choose from in some seller’s markets.
COVID and the ensuing decline in borrowing rates were the main factors driving the present seller’s market. However, COVID is currently fading and interest rates are rising once more. Thus, now is the ideal opportunity to profit from the market before it is too late.
How to Take Advantage of the Seller’s Market
The issue is that many sellers have become complacent as a result of this seller’s market. They frequently overlook the fundamentals in the belief that placing a for-sale sign in the front yard will suffice because the market is in their favour as sellers.
Here, then, are some of the things Pasadena homeowners should do to take advantage of the seller’s market before it’s too late . . .
Prepare the Home
You still need to get your house ready for sale, regardless of the market. You’ll need to declutter and thoroughly clean, make at least minor improvements, and take care of any required repairs, as usual. In this market, buyers may look beyond minor issues and flaws, but not significant ones.
Sell on Friday
“The greatest day of the week to sell a house is typically Friday. Setting listings to “go live” on Thursday night at midnight will enable buyers to find them when they open their eyes on Friday morning amid the newly listed properties. To make the web presentation pop, make sure to color-correct and polish all of the photos.”
If you’re unsure how to do this, you can contact a Pasadena agent for some guidance. Just call (713) 766-0442 to discover more.
Limit Showings
Making people feel limited and competitive is still a successful tactic. “People frequently desire things they believe they cannot have. Limit the days and hours that people can visit your home; don’t give tours at all times. Some buyers will be compelled to visit during times when other purchasers are present, which could lead to rivalry.
Be Ready to Move Quickly
Another thing to remember about a seller’s market is that you may have to move quickly, so be prepared for that.
“In hot markets, purchasers are more likely to pay cash or use little borrowing than in other markets. If you’re lucky, your buyer might not require loan approval, which would significantly shorten the time your house is under contract. You will probably close quickly if you choose to accept an all-cash offer.”
Industry pros recommend that you at least be mentally prepared for such an eventuality even before listing your home. “It might even be wise,” they advise, “to have a rental lined up if you do not find another property to buy right away.”
And You Still Need a Pasadena Agent
You could be tempted to conduct an FSBO transaction and handle everything yourself in a seller’s market. There shouldn’t be a need to pay agent commissions if the market is in favor of sellers, right? In actuality, however, the majority of sellers will nevertheless require the marketing know-how and negotiating abilities of a seasoned neighborhood representative. Without an agency, you’ll probably lose out on a lot of money. Therefore, get in touch with us right away at (713) 766-0442 if you want to benefit from the seller’s market before it’s too late.