To win in today's market, you can't just wait it out or take a step back, you must be able to adapt.
Many people in this last year were disappointed when they didn't get the outcome they wanted, which is very understandable when you consider the market we were in not long ago. Truth of the matter is, you need to be more deliberate and strategic to get your sale today. When considering your strategy, the main factors you want to focus on are pricing and timing.
According to Keeping Current Matters, 8 in 10 sellers expect to get their asking price or more, but in all reality, only a quarter of sellers will get more than their listing price. These high expectations originate from the Pandemic when interest rates were at their lowest and sellers were able to put nearly any price tag on their home and still sell over asking. Since interest rates have changed, and the inventory as well, buyers are able to overlook your property if it feels even slightly out of reach.
Rather than adjusting the price in our current market, many opt to pull their listing instead in hopes they get the offer they want if they just pick the right time. Truth is, the amount of time required for the sale of a home has doubled since balancing out, returning this factor to it's normal level.
While transactions take time, there are ways to make you rhome stand out to sell within your desired timeframe. This can be done through the presentation of the home, or strategic pricing within your local market and neighborhood sales.
Don't let this return of balance to the market discourage if you want to sell your home. Navigate it with the help of a professional so you can win on accounts of price and timing. Contact an agent today!