I'm a Real Estate Agent: 3 Tips on How To Sell Your Home Fast This Spring
Spring is typically the busiest time of the year for the real estate market. There's more housing inventory — which gives buyers more options — nicer weather and families can move and get settled ahead of the new school year.
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As the spring homebuying season gets underway, mortgage rates saw the biggest decline since mid-September, according to Freddie Mac's Primary Mortgage Market Survey.
Recent data also shows that housing inventory levels have increased by 15% compared to last year, which gives buyers more options and intensifies competition among sellers, explained Nadia Khan, real estate agent and founder of Nadia Khan Estates at eXp Realty.
If you're thinking about listing your home this spring, here's what you need to know.
The right price should be backed by accurate and local data. Price it too high and you risk deterring buyers. On the other hand, pricing it too low could also raise questions about the condition of the property or cause buyers to assume there's something wrong with the home.
'Homes priced accurately in line with current market trends are more likely to attract serious offers and sell promptly,' Khan said.
The home's price should be fair and comparable to the local market. This will entice eager buyers to make offers. If multiple buyers are bidding on the same property, you'll likely see a higher sale price and the home will sell more quickly.
Be Aware:
Don't skimp on the presentation. It can help increase your home's value and lead to a faster sale.
'Addressing necessary repairs and enhancing curb appeal can significantly impact a buyer's perception and willingness to pay a premium,' Khan said.
Replace any chipped or cracked floor tiles, replace damaged carpeting, replace broken hardware, etc. You can also boost your home's curb appeal by landscaping, adding pathways and spot lighting, or adding a fresh coat of paint to your doors or the home exterior.
If your home has bigger issues, make sure to get those fixed before listing your home on the market.
'Buyers are increasingly including inspection contingencies with their offers nowadays so sellers should be prepared ahead of time,' she said.
According to a 2024 home-selling trends survey by Clever Real Estate, 83% of sellers who used a real estate agent were satisfied with the time it took to sell their home, compared to just 54% of sellers who did not use an agent. Additionally, 48% of non-represented sellers believed that their home would have sold faster had they used an agent.
'Partnering with a knowledgeable real estate agent who leverages the latest market data and advertising techniques can provide a competitive edge,' Khan explained.
This includes various tactics like staging the home, hiring a professional photographer to take listing photos and using targeted ads. According to Khan, agents equipped with up-to-date insights can also better tailor their marketing strategies to maximize visibility among potential buyers, leading to a quick sale.
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This article originally appeared on GOBankingRates.com: I'm a Real Estate Agent: 3 Tips on How To Sell Your Home Fast This Spring
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