It’s a seller’s market, so does that mean you can sell your home fast in Kansas City? Well, selling in a seller’s market can be a slam dunk, if you follow these tips from real estate experts:
Get your home on the market fast: Yep, it’s a seller’s market in KC and most of the country right now, but it won’t last forever. So if you’ve been thinking about selling, you should take steps now to sell your home fast in Kansas City before the market changes. In this market, you’ll likely receive several offers at once and they may be for more than your asking price. You must be ready to act on them quickly and decisively. Talk to your agent about what your lowest price is and how much you’re willing to negotiate on things like carpet, paint, etc.
No need to over-prep your home: In a buyer’s market, experts say you should invest some time and money to beautify your home to make it more attractive to buyers. But in a seller’s market, you need to get your home onto the hot market as soon as possible. In a seller’s market, there aren’t enough homes available for all the buyers, so your home doesn’t have to be perfect. Just make some quick repairs and updates so you don’t miss the boat!
Sell now, move later: You may not know where you’re moving yet, but in a seller’s market, you have the power. You can make it a condition of the sale that buyers must complete the transaction quickly so you get your money sooner, and also require them to allow you to rent back on a month-to-month basis until you are ready to move. This is a perfectly acceptable condition in a seller’s market and if the buyers really want your house, they’ll agree to it. If they won’t, there will be another buyer who will because there simply aren’t enough homes to go around in a seller’s market.
Price your home strategically: A seller’s market is competitive, but buyers aren’t desperate. So you have to be strategic in pricing to sell your home fast in Kansas City. There are two strategies in a seller’s market: 1. You can price it at, or slightly below, fair market value and let buyers get into a bidding war and push up the price; or 2. You can start at 3-4% above fair market value and wait for an offer to come in, it just might take longer. If you start too high, your house might sit there, and once a high-priced house sits on the market for over a month, buyers are not interested anymore. Then if you do lower the price, buyers will think there must be something wrong with your house because they see everything else selling quickly and yours hasn’t sold yet. It’s like a crowd mentality – buyers want homes that everybody else wants, and they don’t want homes that nobody else wants.
Don’t ignore that first offer: Even in a seller’s market, remember to carefully consider that first offer. Sellers often turn down first offers thinking they’ll get better ones, but that may not happen. A good offer is a good offer, whether it’s first or last. The reason the first offer is often the best is because there is a lot of excitement around new listings and buyers will often offer their top price to try and beat out the competition from the get go.
There’s never been a better time to sell your home fast in Kansas City! But even in a seller’s market when you have every advantage, don’t try to go it alone. Realtors know how to maximize price and minimize risk in any market situation. Call your local experts at Team Real Estate today to help you take advantage of the current seller’s market: 913.451.5711 or visit www.teamre.com.