Are you selling a home? This can be a difficult market, even after the last couple of years have seen higher prices, increased demand, and a generally good environment for San Diego home sellers.
Markets shift, however, and as we try to figure out where we are right now, you’re still in a fairly strong position when you’re selling a home. Interest rates have risen, making mortgages more expensive, but that has not completely slowed down the market, especially in San Diego.
Even with the perfect market conditions, selling can be stressful. There’s the pricing to figure out, the marketing and staging. You have to show the home and you need to know what you’re willing to negotiate. Good real estate partners are invaluable.
We are sharing some home-selling tips that we think will help. As experts in the local San Diego real estate market, we understand what can make or break your sale experience.
Find a Local Real Estate Agent
Your real estate partner will make or break the success you have when selling a home.
You’ll need a reliable and experienced real estate partner; someone who understands the local market and the competing properties in it. Your real estate agent needs to know how to sell a home and negotiate a deal. You’ll want experience. A willingness to go beyond a yard sign and a handful of open houses. This is a market that demands strategy. So, don’t be afraid to ask for references. Solicit referrals from people in your network when you’re looking for a real estate agent.
How can an expert real estate agent make a difference? They’ll make your sale by:
- Delivering a profitable sales price and offering advice on how to negotiate and manage offers that may come in below the asking price.
- Scheduling open houses and showings that are designed to create a sense of competition among potential buyers.
- Using a network of professional designers, inspectors, and vendors who will partner with you during every part of the sales process.
- Understanding the requirements to close, and helping you navigate the process of finalizing the deal.
What’s the risk of working with the wrong real estate agent?
The wrong real estate agent may leave you frustrated, confused, and stressed. You don’t want to make expensive mistakes; and you count on your real estate agent to help you prevent that.
The San Diego real estate market is constantly shifting. It’s also extremely competitive, and very pricey. It moves quickly. When you’re choosing a real estate agent to help you sell your home, look for a steady and experienced agent who has helped owners sell their homes successfully.
Setting the Right Asking Price
Your asking price can immediately make or break your home sale.
Here’s something important to remember: the asking price is only what you’re offering the home for on the market. It’s unlikely that you’ll get that asking price. In a strong sales market, you could potentially be entertaining offers that are over the asking price. In a tight market, you’ll have to prepare to consider offers that are lower than what you want.
Your real estate agent is your best resource when it comes to establishing a smart starting point.
You’ll also need your own understanding of the market.
To price your home correctly, you’ll need an idea of what homes similar to yours are selling for and how long it’s taking them to sell. Your real estate agent will conduct a comparative analysis that brings you some reliable statistics and hard data that supports how your home will be priced.
If you’re like most sellers, you want to earn as much as possible. But, you’ll definitely make or break your sale with the price you attach to your home. If it’s too high, your offers are going to come in a lot lower. Or, people won’t bother making an offer at all. There’s less of a risk in pricing your home a bit lower than what the market demands. You’ll likely have more than one offer come in, and you can select the highest offer or negotiate up if you have the leverage of multiple offers.
Know the market. Know your property and how it fits into the market. Set an asking price that buyers will notice, and prepare to negotiate when the offers come in.
Advertising a San Diego Home for Sale
The way your home is marketed and advertised will certainly make or break your sale. You can’t sell a home that no one knows is available.
Listen to the advice of your agent when it’s time to market your home and look for buyers. Your agent will be well-connected to other agents who are representing buyers. They’ll also have relationships with brokers, investors, and many other community resources.
You can expect a listing on the MLS, and your listing will also be syndicated across real estate websites like Zillow and Trulia.
Every good advertising plan starts with a great listing. These are the details that will make your listing successful:
- Fantastic real estate photos.
All of the potential buyers scrolling through listings will start by looking at photos. They may even look at your photos before they think about your price. Make sure you’re leveraging the best possible pictures of your home. Consider hiring a professional photographer or rely on your agent’s ability to take high quality, professional-grade marketing photos for your listing. You need a lot of pictures, and you want them to look great. Include the outside of the house, the backyard or any outdoor space you may have (even a balcony, patio, or small courtyard if that’s all you have). Buyers will want to see photos of the bedrooms and the kitchen and living areas. Include pictures of anything special like a garden tub, a renovated kitchen with stainless appliances, a pool, or an attached two-car garage.
- Ask your agent for a video.
Walk-through videos can be very helpful in motivating people to schedule a showing. If someone is coming to see your home even after they’ve already seen a video, there’s a good chance they’re interested in making an offer.
- Write a concise, detailed description.
A good description needs to accompany your photos and video. Make sure it includes all the pertinent information, such as asking price, square footage, number of bedrooms and bathrooms, and special amenities that are included. Use language that will help potential buyers connect with your home on an emotional level. You’re trying to get them to come and see it.
The marketing process will revolve around showings. These will be scheduled by your agent, and it’s usually best for you not to be home when potential buyers are coming to see the property. There will also be open houses and special broker and buyer events.
A comprehensive marketing plan will make your sale. You can assist your agent by actively sharing your listing on your social media platforms.
Real Estate Staging
Staging can play a big part in how quickly you sell your home, and how much buyers are willing to pay. The purpose of a well-staged home is to inspire an emotional reaction with the potential buyers.
A survey in 2021 from the International Association of Home Staging Professionals revealed that staging helps to sell homes up to 30 times faster than a home that is not staged. The study also said that staging helped prices increase by up to 20 percent on average.
You don’t have to invest thousands of dollars in a staging plan, however. Keep it simple. Clear out all of your own clutter and any overly personal items that will only detract from your home. When buyers come through for a tour or a showing, you want them to imagine themselves living there. That’s hard to do when you have a ton of picture frames with your family and friends or stacks of mail on the counter.
Keep the home clean and as empty as possible. Listen to your agent’s advice when it comes to moving out the items that don’t necessarily help you sell your house.
Participate in Price Negotiations
Once your home is on the market and people are coming to see it, you can expect to receive some offers.
As those offers come in and interest is generated in your home, you’ll have to think about what you’re willing to negotiate, especially in terms of price.
Rely on the advice you hear from your agent when it comes to accepting offers, making counter offers, and negotiating terms as well as price. You want to sell your home quickly and for the right price so that you can move on. But, you want to maintain a strong position and not settle for an offer that’s too low or terms that you don’t believe are fair.
Good negotiation skills will make or break your sale.
These are some of the most immediate things that may make or break your San Diego home sale. If you’d like some additional advice, we’d be happy to talk with you. Please contact us at Chase Pacific Property Management & Real Estate Services.