How to sell in a fast-moving market

BY CYNTHIA BACHMAN

If, as a home seller, your ultimate goal is to attract top-dollar offers and to sell in a timely manner,

there are ways to achieve that. Amye Miller of the Brainerd/Baxter Edina Realty office and owner of the Miller Group discussed home selling in a fast paced market of home sales in 2021.

First, know what you are selling. This sounds basic, but you will want to educate yourself and market your house by the features that buyers are seeking.

- Amye Miller

Owner, Miller Group

“The home selling market is presently fast paced due to low interest rates and low inventory of houses for sale. Mortgage rates are good. First know what you are selling. This sounds basic, but you will want to educate yourself and market your house by the features that buyers are seeking, said Miller.” She said it’s not just features of your home but also the positives of the location: the school district, community advantages, quiet neighborhood, easy access and roads to travel to and from the home. When you approach your sale with this in mind your home will appeal to many buyers.

AMYE MILLER

PHOTO COURTESY OF AMYE MILLER

When you hire a real estate agent, you will have someone to guide and educate you through the house preparation/presentation and teach you goals and details of marketing and completing the final paperwork.

Generally, with a real estate agent, your property will get MLS (Multiple Listing Service) exposure. The MLS is an online tool to help listing brokers find brokers working with buyers and this kind of introduction may help sell your property. It is a good way to let many people know what you have to sell. The MLS will generate interest by including details of your home, usually with photos, to show the best of your home. In this way more qualified buyers will see your property, which can increase your chance to meet your goal with quality communication, a good price and a timely informed sale.

As the MLS strategy begins, it allows you, the seller and your realtor to pause, slow down and present your home with a prepared marketing plan and strategy of when to enter the market and how it is to be featured: you want your home to shine and attract the most offers.

Many people believe the best time to sell is in the spring; recent years show that winter markets remain competitive. Especially now with the lifestyle adjustments that have come with the Covid-19 pandemic, buyers seek properties to fit the changes in their work, school and home situations.

According to Edina Realty there have been shortages of homes on the market for years. This trend continues. Starter homes, priced under $250,000, have sold within 20 days for the last two years. In November 2020 that number trended to sales in 18 days. Luxury homes sold in 34 days. Metro waterfront homes sold in 28 days. Sales prices continue to rise due to demand.

Most people are likely familiar with the many TV shows on HGTV. These programs have made it clear the benefit of staging your home. By preparing, your home buyers can imagine how the space can be used and how furniture fits the rooms. Most buyers will see value in a property that is in good condition, well maintained and ready for a new family.

Your real estate agent can provide you with direction to best present your home. An experienced agent can help you decide if/what home imperfections are worth fixing to add value to your home. The fact is sellers will benefit when prospective buyers can see themselves in the home. That translates to a home that is well maintained, de-cluttered and free of personal pictures and memorabilia.

Minor pre-sale prepping ideas: Paint the front door, paint rooms neutral/clean colors, repair cabinet hardware, repair leaky faucets and update light fixtures/ceiling fans.

Major pre-sale repairs to consider: Patching holes and cracks in walls and ceilings, flooring updates such as new vinyl or hardwood and/ or carpet installation, putting on a new roof, repairing or changing appliances. Curb appeal is important, be aware of landscaping and make easy improvements as needed. (You may need to strike up a deal to get your neighbor to clean up their front yard).

Selling your home may seem overwhelming but with planning, knowledge and the benefit of a trusted real estate agent that has the proper training and network behind them, you will quickly reach your goal of top-dollar offers and will sell your property in a timely manner so you can meet your family needs and move on to your next chapter.