A down market can feel like a stressful time to be contemplating selling your Reno, NV home. However, even strange housing markets do have some buyers in them, and your goal is to get really clear on what you can expect and how to achieve the results you want. Here is a tried-and-true way to get started with selling your home with confidence.
Pay Attention to the Most Recent Comps
Even before you have an agent, but definitely once you’re getting serious about selling your home, it’s wise to be tracking list prices and sale prices for homes near yours and homes like yours. Comps used to be reasonably similar for 6 months or a year, but in this climate, you’re better off looking for homes that sold in the last couple of months to get your most up-to-the-minute data. This helps you set realistic expectations from the beginning.
Get Very Clear on Your Speed and Price Goals
You may have hoped to sell for thousands over list price on the first day of your listing, but that may simply not be what is happening in your market. A stronger strategy is to look at those comps and set an aspirational goal for one aspect: do you want to make just a little more money, or do you want to sell your home a little faster than other homes in your area? This kind of goal allows you to compromise on things that matter the least to you and achieve the things that matter most.
Use Agent Interviews As a Reality Check
Finding a great real estate agent starts with talking to more than one of them. Most of us use a real estate agent at most a few times in our lives, so it’s a good idea to get a better picture of what they are each like, rather than working with the first person who comes along. In most agent interviews, you’ll learn two things: whether they think that your goals are realistic in this market, and how committed they are to helping you prioritize your goal. In some cases, you’ll find that all three of the agents think you’ll be able to sell in your timeframe or for the price you want. However, some people may push you to sell fast without trying to get top dollar, or may push you to list higher than you want to list in order to get a top-dollar sale even if it takes longer than you want.
Work With Someone Ready to Aim For Your Goals Wisely
Find someone at the intersection of realism and alignment with your goals. This agent is going to be the one who notes what you want and keeps that goal in view the whole time. They aren’t overly optimistic, making you think things can happen that aren’t possible, or overly pessimistic due to the down market, but instead are willing to show you the cause and effect. They’ll be the agent who can show how their specific marketing plan will work to sell your house fast, for a lot of money, or without a lot of additional repairs and updates; it all depends on what matters to you.
Linda Barbara has worked in various capacities including as an interior designer, a teacher and the proud owner of a home décor blog, upgradehometutors.com.