What about this real estate market?

As a real estate professional, almost everyday I get asked “about this market,” which houses are selling and how they are being sold. It’s not the easiest question to answer but…in a marketplace where days on market are elevated and inventory levels are high, I recommend the following when considering selling a home:

• PRICE your home at the price at which you need to sell, eliminating “negotiating room” and increasing your likelihood of showings and offers. You’d rather turn down multiple offers than never receive any.
• PRICE your home to be the #1 or #2 most attractive option amongst its competition in the market, rather than at the market average for homes in your neighborhood.
• ENSURE that your property is immaculately presented. When the market affords buyers too many options you have to make sure that the showings you do receive are effective.
• EXPECT a good 6 month period to wrap up the sale of your home.
• INTERVIEW more than one REALTOR® for the job of selling your home. You must partner with an agent with MLS exposure, extensive online marketing coverage, aggressive and proactive marketing tactics, solid negotiating experience and training, and a clear and strategic marketing plan. The days of signs in yards selling homes are over!
• BE PREPARED for low offers and don’t be offended by them. Buyers are trying their luck in a marketplace where some homes ARE overpriced. If you price your home correctly this should not be an issue.