By Hudson Holder, SRA AI-RRS
After the 2021 market whirlwind, many homeowners are looking around the neighborhood in awe of recent sale prices, wondering if it might be the right time to sell. Those homeowners that are serious will get the wheels moving in February – contacting their realtor, fixing the broken door handle, replacing carpet, digging up the survey from 1991, and taking the glamour shots off the wall in the stairwell. Some folks may even consider more upgrades, like a kitchen renovation, bath update, or exterior refresh. Many of those decisions will rely on the advice of a realtor, who can be an invaluable resource and ally for the homeowner.
What is typically the most important factor – or at least the first factor – to be discussed in a conversation about the potential sale of a real estate asset? Price! It is easy to get lost in the busyness of a home sell with a checklist mentality of tasks to complete, while sales price is ultimately the most important factor to most sellers in a transaction.
In a typical real estate transaction, the appraisal and inspection are completed on behalf of the buyer after a binding contract is in place – when time is tight. Inspection or appraisal issues never benefit the seller – inspection issues and low appraisals kill more deals than any other cause. Is there a method for the seller to manage the unknowns through preparation?
Part of the preparation for a spring sale should include alleviating these unknowns. Many local brokers have implemented prelisting appraisals and prelisting inspections to put negotiating power in the hands of the seller – setting expectations for a supportable list price and taking care of inspection issues before getting locked in a contract. Engaging a third-party to evaluate price and property condition on the front end – before the sign is in the yard and the buyers are flocking – can ensure that the seller maintains the upper hand in contract negotiations and is the ultimate winner on price. The time to prepare for a spring sell is now! Knowledge is power – add experts to your corner to alleviate stress in your upcoming sale.