January is a great time to consider what is ahead for the year. It's when resolutions live and die. It's also when people begin to consider moving. Most people think that spring is king for home selling. Louisville home sellers are no different in this regard, but as I've demonstrated before, Louisville home sellers would be wise to consider listing their homes now since home buyers are out and about and looking for a home in Louisville, and few sellers take advantage of this low competition time period. Those who wait until March or April will find themselves competing with many other home sellers.
Granted, no question there will be more home buyers in the spring, but it is possible to take advantage of the seasonality of the real estate market by getting ahead of the curve, doing something different, and selling your Louisville home before the competition begins decluttering.
Here are 5 tips to help you sell your Louisville home in 2013:
1. Contact a good real estate agent: I know this sounds self-serving since I happen to be a good real estate agent, but this is a crucial step. If you're considering going it alone and selling by owner, then obviously you will not start here, but for all others (nearly 90% of all closed residential real estate transactions involve at least one real estate agent), this should be your first move.
Let's talk about why: Firstly, a good real estate agent is a financial advisor for the most expensive thing most people will ever buy or sell. Think about that: Many people don't believe this about real estate agents, and in my opinon, that is the real estate industry's fault. This shouldn't even be a controversial idea. A good real estate agent should know the real estate markets within his or her city, and a good real estate agent's answer to the often asked question of, "How is the real estate market?", should consist of more depth than answering that it is "good" or "bad". You are selling a large product, you deserve better, and with the fluctuations we've seen in the real estate market since 2008, pat answers won't do.
What if you can't sell your home right now? Do you want to find that out the hard way after incurring expenses associated with getting it ready to go on the market and getting you and your family out of the house for showings only to find that it's simply not worth the amount of money you need in order to achieve your goals? This is a simple step, we will not pressure you because we know what it takes to sell, and the fact is that not everyone can sell in this market.
2. Eliminate objections: This step has one major theme, and that is, fix any active problems with your home prior to listing your home. In other words, if your roof leaks during heavy rains but not every time it rains, fix the leak. If your basement leaks, get some feedback from professionals as to why, and then take the necessary steps to fix these sorts of problems. In order to do this effectively you must get very honest with yourself about your home. What's always been an issue that you have considered fixing since you've owned the home? What has annoyed you about your home since you moved in? Chances are, potential home buyers will want such problems fixed, and they will begin to create all sorts of other possible negative thoughts about your home if they see it while these fixable issues remain.
3. Search homes for sale in your neighborhood: By researching the competition, you can see what you're up against. How good is the marketing of the competing homes located nearby your home? Do the homes look staged? Do they look mostly remodeled? What is the range of asking prices? Chances are, if you see a home or two that stand out, those are the ones to emulate the best you can.
4. Determine where your home falls on the value spectrum: This is crucial. By working with your real estate agent, you can decide what segment of the market in which your home belongs. If your home is newer (less than 10 years old) and your neighborhood is relatively similar in age, then this will be simpler. If your home is located in an area where the housing stock is older, then this step will be more in depth. The downfall of missing the mark on this step can be fatal to your home sale and maximizing your sale price. In order to properly price your home, it takes an agent with a keen eye on the market.
5. Finally, make sure your real estate agent uses video to market your home. See below as to why.
Those of you who live in the Louisville area, or surrounding counties like Oldham County, Shelby County, Spencer County, and Bullit County, if you or someone you know is interested in selling a home or even thinking about selling a home, contact us today. We will be glad to provide you with an assessment that will give you the information you need in order to decide whether selling your home in 2013 is a good idea or not.