Andrew Shader’s Advice for Homeowners Looking to Sell in the Current Market
If your goal is to sell your house when the market is most optimal for you, you’ve probably had your eye on changing trends for a while. Therefore, it should come as no surprise that the pandemic brought about one of the most significant seller’s markets seen in quite a while, according to Andrew Shader and other real estate experts.
As everyday life has started to shift back to normal post-pandemic shutdowns, so has the state of the housing market. Housing availability has seen a dramatic increase since November of 2021, which means that the shockingly high demand for homes for sale during 2020 and 2021 has steadily decreased over the past year.
This result is largely due to active listings staying on the market for longer as homebuyers wait for prices and mortgage rates to drop before making a move.
As a seller, this gradual shift of the market toward favoring the buyer may be slightly worrisome. However, even though the trends are currently shifting, that doesn’t mean it’s no longer a seller’s market. In fact, Realtor.com found that 95% of home sellers who sold in the last year still got more than they had originally paid.
The market is cooling, but it’s still a great time to sell if that’s your goal. Just make sure to keep these few pieces of advice from Andrew Shader in mind to ensure your success as you go through the process.
Don’t Forget About the First Impression
Since home inventory is much higher now than last year, your potential buyers will have more options than they did before. This means that you’ll have to think carefully about first impressions.
That includes having professional listing photos, scheduling any needed repairs, fixing all cosmetic blemishes, and making meaningful connections with potential buyers when possible.
Use Current Market Value to Set Price
As home availability for buyers has increased since 2021, buyer demand has also decreased due to abnormally high mortgage rates. This means that in order to entice the right buyer, you’ll need to keep current market value in mind as you set your price.
While this may not have been as important during the spring or summer of 2021 or even earlier in the pandemic, the market has cooled considerably since then. You can still price your home appropriately, but your expectations as a seller now compared to last year will need to be a bit different.
You’ll Need to Negotiate
Another side effect of the cooling housing market is that sellers will now need to be prepared to negotiate with buyers. The high demand last year meant that sellers had all the leverage, but the playing field is much more even now. Be ready for your buyers to want to negotiate the price as well as request repairs and inspections.
Guidance from Andrew Shader
Since his real estate business was founded in 2016, Andrew Shader has been focused on finding value in properties and increasing it exponentially. This strategy has allowed him to increase the value of his properties by 60% or more.