“Houses are sitting on the market longer than ever!” “Nobody can sell a house these days!” “Prices are dropping!”

I have heard all three of these statements in the last week. Don’t panic, though! The market has changed since the spring. It’s changed a lot. But you CAN sell your house in this market, and you can enjoy and profit from the process. Here’s how:

• Keep your “why” in mind. Do you want to move to a smaller home because your current house is too big? Are you just tired of all the yard work and would prefer a townhouse? Do you want to move closer to your grandkids? The reason you are selling, your “why”, will carry you through the process of selling your home.
• work with a real estate agent who knows the market NOW. When I get ready to put a house on the market, I have a candid conversation with the sellers to get their house sold for the most money possible. To do this, I keep up with a lot of market data. If you’re getting ready to work with a real estate agent, ask them questions like:
  • How did you set this price?
  • How long can I expect it to take?
  • How many showings can we expect per week?
  • Should we expect to offer concessions or repairs?
  • When might we need to drop the price?
  • If we need to drop the price, by how much?
• SET YOUR EXPECTATIONS. If you can’t tell by that list of questions I just wrote out, selling a house now will look different than it did six months ago. Your real estate agent will be able to tell you what you can expect in more detail, but the bottom line is that if you don’t have realistic expectations, you will be stressed out and disappointed in the whole process.
• have empathy for buyers. Interest rates have spiked recently, which is the reason the market has changed even more. Understand what this means for a home buyer so that you’re not disappointed if your real estate agent advises you to list your home at a price that is lower than what you expected.
• look at the big picture. If you bought your house more than a few years ago, chances are you still have a TON of equity. That’s awesome!
• see the good. If you are selling your house to buy a different home, this market shift might have made that easier! For the first time in years, you’ll be able to take your time in choosing a new house, and you won’t over-pay for the house you end up purchasing. There are also first-time homebuyers who can afford to buy a house for the first time in years!

The housing market is correcting itself after years of being an insane seller’s market. The market needed this. So don’t panic! Contact me today if I can help you get ready to sell!