How Much Would You Pay For Your Home?

Want to succeed as a seller today? Think like a buyer.

The abrupt change in our market has sellers reeling. A year ago you could poke a For Sale sign in the front lawn and have two offers before you reached the house. Today, many sellers haven’t seen a buyer in weeks. It’s hard to make the adjustment. If you need to sell, this can be gut-wrenching stuff.

So what’s a seller to do?

First, get real. If you don’t absolutely have to sell, don’t. Pull your home off the market. Fix up the things you’ve postponed fixing. Stay put. Make due. If you’re still saying, “I need to get $______ for my home…..”, then you have not fully faced reality. That approach won’t work in today’s market. Last year you could name your price. Today, buyers couldn’t care less what youneed. They want a deal, and they have lots of choices.

But what if you’re committed? What if you’ve already accepted that promotion or bought another home figuring you could sell your current home quickly? Maybe your house has grown too small, your commute too long, or your neighborhood unsafe. What if you really do have to sell?

Find an experienced agent. I’m not talking about the family member who just got into the business. In this market, you need expert advice. Experience counts. You may not like what you hear, but an experienced agent will give it you straight. You need to price correctly today, or you’ll be selling for less tomorrow. Read the experts’ recent forecasts for Sacramento home prices in my post about the Sacramento Region Housing Forecast.

Check out the competition. Get out and look at the inventory. You need to see the market through a buyer’s eyes. This should help you adjust to the current realities. We’re all emotionally attached to our own homes, but a tour of neighborhood listings should help you gain some perspective and objectivity.

Think like a buyer. Pretend you’re a prospective buyer looking for a home in your neighborhood. With the education you’ve now gained, ask yourself this one question: How much wouldyoupay for your home?

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