If you’re planning to sell your home on the Western Slope of Colorado, it’s important to understand that the market is shifting from a seller’s market towards a buyer’s market. This means that there may be more homes for sale and fewer buyers competing for them. Here are some tips to help you get as much money as possible for your home in a changing market:
Price Your Home Strategically
One of the most important factors in selling your home for the highest price possible is pricing it correctly. In a shifting market, you’ll want to price your home competitively to attract potential buyers. Your real estate agent can provide you with a comparative market analysis (CMA) to help you determine the best price for your home.
Forget What Zillow’s Zestimate Says
Many sellers are tempted to value (and price) their home according to what Zillow gives as a “Zestimate” of their home’s value. Forget about it. We’ve found Zillow can be too low or too high and the swing can be as much as 30 percent either way. There are a number of other real estate sites consolidating online home values; you’ll be astounded by how different each valuation is.
We even offer a free, online home value estimator that tries to dial it in more accurately on this web site: https://westernslopevalues.com/. But, again, your real estate agent can put a trained eye on your home and give you a more accurate analysis of what it’s worth compared to other homes that sold near you.
Stage Your Home to Sell
Staging your home can help it stand out from other homes on the market and appeal to potential buyers. In our market staging doesn’t necessarily mean buying all, new furniture and designer accents. It may simply be a matter of depersonalizing your home or moving some furniture around to make the home more open. Make sure your home is clean, clutter-free, and well-maintained. We offer a free staging consultation to all new clients who list with us. Carol has been specifically trained to give pointers on how to make your home more inviting. In certain cases, you may also want to consider hiring a professional stager to help you showcase your home’s best features.
Highlight Your Home’s Features
If your home has unique features or upgrades, make sure to highlight them in your listing and during showings. This could include a stunning view, a newly renovated kitchen, or a spacious backyard. These features could help your home stand out and justify a higher asking price.
Be Open to Negotiation
In a shifting market, buyers may have more negotiating power. Be prepared to negotiate on price, closing costs, or other terms to close the deal. Lately, more buyers are asking for “seller concessions” which buyers can use to “buy down” their rising mortgage interest rate or use towards fees or closing costs. Consider what concessions you are willing to make to get the best possible price for your home.
Work With an Experienced Real Estate Agent
An experienced real estate agent who knows the local market can help you navigate a shifting market and negotiate on your behalf. We can provide you with valuable insights on pricing, marketing, and negotiating to help you get the best possible price for your home.
By following these tips and working with a knowledgeable real estate agent, you can maximize your home’s value and get as much money as possible in a market that’s shifting from a seller’s market towards a buyer’s market on the Western Slope of Colorado. Give us a call and we’ll help fine tune your home’s true market value.