3 Must-Dos When Selling Your Home in 2024
When you are ready to sell, remember these three best practices to help you balance your emotions and feel confident in your decision.
1. Price Your Home Right
The housing market shifted in 2023, as mortgage rates rose and home price appreciation returned to normal. As a seller, you must continue to recognize the importance of pricing your home appropriately in light of the current market conditions. Hannah Jones, Economic Research Analyst for Realtor.com, explains:
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
If you price your home too high, you risk turning away potential buyers. If you go too low, you will be leaving money on the table. An experienced real estate agent can help you determine your ideal asking price, ensuring that your home sells quickly and for top dollar.
2. Keep Your Emotions in Check
Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below):
This is far beyond what was previously considered normal. However, staying in one place for an extended period of time may cause you to become even more emotionally attached to your surroundings. If it is your first home or the house where your family grew up, it probably means a lot to you. Every room holds memories, and it is difficult to separate from their sentimental value.
For some homeowners, this makes it even more difficult to distinguish between the house's emotional value and its fair market price. That is why you need a real estate professional to assist you with negotiations and the best pricing strategy along the way. Trust professionals who have your best interests at heart.
3. Stage Your Home Properly
While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. That’s why it’s so important to make sure you focus on your home’s first impression, so it appeals to as many buyers as possible.
Buyers want to be able to picture themselves in the home. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:
“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”
A real estate professional can help you with expertise on getting your house ready to sell.
If you are thinking about selling your house, let us talk so you can get help navigating the process and prioritizing these must-dos.