Kansas City has been in a hot seller’s market for years, and it’s showing no signs of slowing down anytime soon. For some sellers, that’s all the incentive they need to sell their home and come out on top. For others, though, they want to get as much as they possibly can from their property even though home prices are well above what they were just a decade ago.
Let’s look at how you can capitalize on a seller’s market in Kansas City in a way that still offers plenty of value and incentive to the buyer.
There are risks to underpricing and overpricing your home. If you price the home too low, you might not appeal to buyers looking in a higher price range. It also shows that you don’t feel your home is worth any more than what you’re asking for it. On the other end of the spectrum, overpricing your home can limit its visibility to buyers that would otherwise be interested. Your home might sit on the market longer, which can cost you more in the long term.
Working with an experienced local agent can help you find the pricing sweet spot based on data you likely don’t have access to. They take into account what homes are selling for in your neighborhood, features that appeal to current home buyers, and other aspects that can affect your home’s value.
Not all buyers that make an offer will be the “right” buyer for your home. Some may offer you far lower than what you want for your home, and it’s tempting to say yes just to get a contract. But in a hot market, it’s often best to wait for the right offer. In fact, many buyers are offering above the asking price just to get a “yes.” Try not to be in a hurry, if possible.
It is also important to take into consideration things such as a buyer’s financing and requested closing date. Other contractual items to look at include seller-paid closing costs, appraisal contingencies, escalation clauses, and EMD’s.
Keeping tabs on the market is always a good idea, but especially in a seller’s market. Knowing what homes are selling for, what buyers are interested in, what mortgage rates look like, and how long homes last on the market on average can all help you make informed decisions about your own process.
Professional real estate photography helps you put your home in the best possible light. This is super important given that most real estate searches start online, not with an agent. This means that when a potential buyer arrives at your home, chances are they’ve already seen what it looks like inside.
In today’s competitive market, professional photography is a must. Add even more value with videography that showcases the home’s land and the surrounding neighborhood.
At UpSell, our experienced agents will walk you through every step of the sales process and take a considerable amount of the heavy lifting off of your plate.