It’s after Memorial Day and boom, dozens of new listings have hit the market almost saturating it. Sellers are wondering why they are not getting as many hits or showings on their properties as their counterparts just a month earlier. Memorial Day seems to be the kickoff of the real estate season and many people have held off listing their property until now. That means that all of a sudden the market is saturated with real estate listings, most of them priced higher than they should be.
Just a month ago, the same property could have received 1% to 10% more than it could garner now because buyers now have the pick of the litter. They have a lot more homes to choose from, which means that sellers now have to get competitive in pricing and what they are offering. When there are very few listings on the market to choose from, it becomes a seller’s market and homeowners can charge higher prices. But now, there are a lot of properties on the market so sellers may not be getting those high prices that they could’ve gotten just a month earlier.
So how can you think like a buyer in order to sell your house?
It’s important to understand buyers so that you can market your home in the best possible way. Millennials represent a significant demographic of buyers in many markets right now.
Millennial’s want lots of amazing photos, videos and they want brand-new homes, but even if you don’t have a brand-new home you can still present your home as if it’s brand-new with a really good cleaning, fresh paint, potentially new appliances or flooring. All of these things add up to be an attractive and hot listing.
Many buyers are also looking for more space. So, if you have cluttered up all of the additional space in the house, buyers cannot see the potential. They want to see empty closets, spacious storage areas, and an open garage. It’s important to remove extra furniture so that rooms are visually larger.
Create a space so that buyers can see themselves in the home. Everything is about selling the buyers new home to them to giving them visual appeal and helping them see themselves in the property is really the best way to market your home and set it up for selling success.
Price is also an issue. Buyers don’t want to see to lower the price as they’ll think something might be wrong with the property they also don’t want it overpriced either because they will get the impression that the seller is out to lunch on reality.
Every home is different so what appeals to buyers about your home may be different than your neighbors, which is why a listing presentation on-site is really the best way to figure out how to market, list, stage, and price your home. Give me a call today for more information on listing your Mercer Island, Bellevue, or Seattle home and find out what your home is worth today.