Are you worried about seller’s remorse?
As most people know inventory is low not only in Washington County, but across the country. This has made it a seller’s market again. Some advice was post by Brendon Desimone on the Zillow blog giving sellers advice when selling. Here are a few tips that Brendon shared.
Develop a solid pricing strategy
Agents often encourage their sellers to list their homes competitively, so that the market receives it well. Sometimes sellers see that as the agent pushing for a quick sale. Many times, it’s truly the agent looking out for the seller’s best interests.
Whatever the scenario, pricing is the most important discussion a seller can have with an agent. When there’s a disconnect on price, raise it as a red flag from the get-go. If you find yourself resisting your agent’s suggested price, talk through the options or get a second opinion.
You might try starting out with a higher number. This might be against your agent’s better judgment, but it can be worth a shot. If there’s no activity in the first few weeks, you can always reduce the price.
Be ready to negotiate with buyers
Feeling strong and in the driver’s seat, the Essex homeowners decided to wait and see if they could get an even higher price once they had a moving plan in place. In an effort to keep the deal together, the sellers’ listing agent negotiated a quick close with a 30-day-free rent-back and another 30 days rent, in which the sellers would pay the new buyer’s PITI (Principal, Interest, Taxes and Insurance). It was a win-win for all.
While this couple in Essex had the luxury of a competitive bidding situation, it may not always be the case. That’s why having a clear plan in place for all conceivable outcomes and a willingness to negotiate can help you get through the sale process successfully.
When in doubt, stay out
If you have any doubts about your physical or financial situation, hold off on listing. Watch from the sidelines, and only jump in when you’re truly ready. The biggest mistake a seller can make is to go on the market and fail to sell — at a time when everything else is selling.
Find your ERA Agent to help you decide if you are ready to list!
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