It’s a Seller’s Market! Best Moves to Make When Selling a Home
The purchase, sale, or investment of real estate will typically occur within one of three specific markets that can be identified as either a balanced, buyer’s, or seller’s market.
When both home inventory and buyer demand are equal, it creates a balanced market. However, if there are more available houses than buyers, it’s what’s known as a buyer’s market. In a buyer’s market, homes tend to remain on the market longer, and sellers often receive lower offers.
On the flip side, most of the nation is experiencing what is referred to as a seller’s market. Generally, a seller’s market will produce more buyers and less inventory. Homes sell much faster, and the seller may receive multiple offers, in many cases, well above the listing price.
Since we are now in a seller’s market, we are often asked the question, “Do I have to prepare my house to be sold? Won’t people buy anything?” Our answer, no matter what the market, is it will always be yes, a seller should always prepare their home for listing.
Prior to selling your home, we suggest you consider these five power moves:
Create curb appeal.
You’ll never get a second chance to make a first impression. If a potential buyer pulls up and the house and yard look a mess, they may decide not to come in. A freshly mowed yard, fresh flowers, or pine straw may go a long way. If you have a pet, make sure poop is picked up and not in the path of potential buyers. Consider pressure washing the exterior to give the home a nice gleamy look. Remove dangling wires, wrap up water hoses and neatly organize the garage. Extend the curb appeal to your doorway and foyer; when buyers walk up to your door and open it, they should feel comfort, not chaos.
If you have been thinking about making that trip to the Goodwill, your local clothing bank, or having a yard sale, now is the time. Space is like grace; it’s appealing. When potential buyers open a closet door and see it half empty versus full, you are allowing buyers to experience the true size. Show off those beautiful spacious countertops, make sure they are free of gadgets and appliances. Buyers love kitchens; showing the available space in the cabinets, pantry, and countertops will allow them the opportunity to envision all the remarkable memories they will be able to create in that space.
Create a space for your private, intimate, bathroom and bedroom necessities. It’s not a good look to have these items in plain sight.
Stay ready, so you don’t have to get ready.
When you are selling your home, it is important to keep the house in “show ready” status as much as possible. Sit the family down and have a conversation about the sales process and remind everyone selling a home is a collective effort. The agent has committed to bringing a qualified buyer to your home; as the seller, you must be committed to making sure when they get there, your home is show-worthy.
A tidy, fresh-smelling, clean home will send the impression the current homeowners have taken care of the asset. When a buyer openly sees filth, they will wonder what the deal is with things they can’t see. We’ve experienced buyers low-balling the sellers on price due to the home’s appearance. Spend some time on a deep, “spring” cleaning, or add some fresh neutral paint. You’ll be surprised how far fresh paint and crisp white baseboards will go when selling your home.
Price it right.
Yes, we are in a seller’s market, and the demand for homes is high; however, a home priced too high could potentially keep your house on the market a lot longer than it should be. In some cases, a homeowner may think their home is worth more than it’s worth because of the love they have for their home, but the sellers’ numbers must align with the most recent sales, especially if the buyer will be seeking outside financing.
There are many search engine tools that will give you an estimated sales price for your home. Although they may be helpful, seek a professional, which leads us to our final and BEST move to make when selling a home.
Hire a licensed Realtor® or Realtist.
There’s a comprehensive strategy associated with selling a home if you desire to maximize your net profits. Hiring a professional such as a Realtor®, whose a member of the National Association of Realtors, or a Realtist, a member of the National Association of Real Estate Brokers, will ensure you will be working with a licensed professional who’s knowledgeable on the sales process. The team at DeVoe Real Estate has the ability to connect a potential seller with an experienced, licensed Realtor® or Realist throughout the United States and several other countries.
With a star on the Hollywood Walk of Fame, numerous lifetime achievement awards, and a New Edition miniseries watched by over 30 million people, Ronnie, aka Big Ron, has solidified his reputation as a well-rounded creative, performer, visionary, and later in his legendary career, a savvy businessman.
After living in Los Angeles for 16 years, DeVoe moved to Atlanta in 2001 to establish himself as an entrepreneur outside of the music industry. To do so, he returned to a love he had of real estate in high school before his rise to stardom. In 2002 he became a licensed agent with Re/max, and in 2006 he founded his own company called DeVoe Broker Associates, now –dba- DeVoe Real Estate.
Headquartered in Atlanta, the company specializes in residential and commercial sales across the US and around the world. Ron is also an advocate for closing the gap and changing the disparities between the haves and have nots in homeownership. He has also served on panel discussions focusing on fair housing, ownership, wealth creation, and more.
In addition to being CEO of Marvetta Bozeman Real Estate Solutions, she serves as Principal Broker of DeVoe Broker Associates alongside New Edition’s Ronnie DeVoe and is an active partner with multiple Metropolitan Atlanta charitable organizations. She’s a Certified Master Facilitator and active mentor with the National Association of Real Estate Brokers, Empire Board of Realtists, and an esteemed member of Delta Sigma Theta Sorority Incorporated.
With education as a lifelong cornerstone, she earned her Bachelor of Applied Science and Master of Science from the prestigious Mercer University, followed by a Doctor of Business Administration from Walden University.
In addition to her college degrees, Marvetta has carried out a continuing education legacy by becoming a licensed real estate instructor and, most recently, the founder of Mission Bound Real Estate and Business Academy. Ms. Bozeman holds multiple certifications, including Accredited Buyer Representative (ABR®), At Home with Diversity Certified (AHWD®), Sellers Representative Specialist (SRS®), Short Sale & Foreclosure Resource Certified (SFR®), and was a 2019 graduate of the Atlanta Realtors Association Emerging Leaders Program and currently serves as Chairperson of the Associations Diversity Equity & Inclusion Council.