Here are some signs to look out for as a potential home seller.
Whether you’re a seller or an agent, there comes a time when you have to decide whether it’s a good idea to put a home on the market. In some cases, there are life situations that would make selling a home incredibly difficult. For example, it wouldn’t be great to list when the seller or someone in their household has an upcoming medical operation.
Other times, problems with the house itself will make it hard to find a buyer. If the house needs major repairs, for example, it might be better to save up some money, update the home, and make it able to compete with other homes on the market.
If the seller is looking to move out and hasn’t secured a new place to live (or at least somewhere to stay for a short period), it’s probably best to wait on listing. Otherwise, they could find themselves struggling because they have nowhere to go.
However, when potential sellers are asking about whether it’s a good time to sell, they’re typically talking about market conditions. If you’re an agent, you need to be sure to educate your sellers about the kind of market you’re in. In a seller’s market, homes usually sell quickly and for a higher price. This is because there’s low inventory and more buyers.
If it’s a buyer’s market, you’ll need to let them know the pros and cons of trying to sell when they have less power. Teach them about different incentives they could use to find buyers, such as paying for home warranties, carpet replacements, or partial closing costs.
Some sellers wonder if it’s a good idea to sell in winter or if they should wait until spring. As an agent, you want to list the upsides and downsides of both. There are more houses on the market in spring, and there’s also more competition. In winter, though, you can highlight fireplaces and other cozy features that help buyers imagine living in your home. The snow also provides a great cover-up for homes with poor curb appeal. Additionally, buyers who are out shopping in the winter are more motivated to find a home since there aren’t as many available.
In the end, sellers and agents need to find out what the motivation is for listing a home. Are they relocating, upgrading, or downsizing? Any of these are good reasons to find a home, and if their reasoning is in line with their goals, then it’s likely the right time to sell—regardless of market conditions.
If you have any questions or would like more information, feel free to reach out to us. We look forward to hearing from you soon.