Have you been thinking, considering, or kicking around the idea of selling a Snohomish County home or investment property in 2020?
If so, then there are many things to consider; market conditions relative to specific local and neighborhood, how a city's real estate climate is trending, the volume of housing inventory, and even the velocity of the market place.
In addition to the housing climate, you'll want to consider how the home or property will be sold. Will a real estate broker be used or will it be sold for sale by owner? Both of the options have their own pros and cons.
In this blog post, we'll explore how to sell a house in 2020, what it will take to be competitive and what techniques can be used to gain exposure.
Get an Instant Property Valuation
Learning what your home or property is worth is pretty easy with online valuation tools and County tax assessments readily available. Yet, how accurate are these online estimates? Those online property valuations can be off as much as 10% in either direction.
If a home could sell for $400,000 then that means the property's price range is anywhere from $360,000 to $440,000, a $80,000 difference. Our property valuation tool is somewhat similar for a quick figure, just enter the property's address.
Or contact us for a full Comparative Market Analysis for a "market approach" valuation.
Preparing a Home for Sale
The first step in selling a home in getting it prepared for sale. But what does that mean? Selling a home is all about first impressions and when buyers walk through a home they want to be impressed, they want to be pleased, and, ultimately, have a good experience. After all, they're buying their dream home.
How do you make this a wonderful experience? Here are four recommendations to prepare the home:
- Maintenance Items: Take care of any deferred maintenance; this includes applying moss killer to roof lines, repair missing shingles, clean & repair gutters, service the heating system, fix plumbing leaks, clean the crawl space and attic if necessary, repair foundation vents, repair any damage siding, and fix loose sinks and toilets ... etc.
- Staging the Home: Staging doesn't have to complex. Remove clutter, depersonalize the home, create open space by rearranging furniture, clear kitchen counters, clean the home thoroughly, remove odors and add air fresheners, and clean the windows.
- Let the Light In: Raise the shades, open the blinds, pull back the curtains, install brighter bulbs in the home. Bright, open rooms feel larger and more inviting where as dark rooms rooms feel small and gloomy.
- Creating Curb Appeal: The first impression happens when folks drive up to the house. Mow the grass, weed the flower beds, plant colorful flowers, pressure wash driveways and walkways, and sweep up any loose gravel.
Getting the home prepared with set it apart from competing properties making it sell faster, pass a buyer's home inspection, and sell for more money.
What is the Current Housing Climate & Forecast?
The most notable Snohomish County housing trend is inventory, continued low housing inventory. After a slight up tick in residential homes for sale, Snohomish County only had 1.4 months of standing inventory with April showing signs of some increase which is typical this time of year.
The average days on market is decreasing with homes selling within days, not weeks or months, though the chart for Snohomish County doesn't reflect that. As a selling agent, I've been writing offers on newly listed properties on nearly daily basis.
What Advertising Techniques Will Agents Use?
As licensed real estate brokers,we continued to be solicited with the latest and greatest marketing tools. Do I subscribe to all of them? No. Many software systems create little to no value for sellers and don't add additional exposure, its just shiny and new.
Here are 7 places/techniques to advertise that create advertising value for either a for sale by owner or real estate broker:
- Have the Property Listing on NWMLS.
- Create a property webpage either on a owned website or build a new website for that property.
- Post ads on Zillow.com, Trulia.com, and FSBO.com, and Craigslist.
- Share the Ads on Social Media.
- Create Property videos using drones, 360 cameras, and pictures.
- Upload property videos to YouTube, Facebook, Twitter, and LinkedIn.
- Install a traditional real estate for sale signs and have printed flyers attached.
Here are examples of recent real estate videos.
Virtual Reality Real Estate Tours
Drone Real Estate Tour
Will a Broker be Hired or Will the Home Be Sold FSBO?
When selling a home people usually choose For Sale by Owner or hire a real estate broker. Sometimes they do both.
For sale by owner is when a homeowner chooses to sell their home themselves. Selling a home FSBO, especially the very first time, is tough and there is a lot to learn. A homeowner needs to know housing statistics for competitive pricing (receive an instant property valuation), advertising techniques to generate desired level of exposure, prequalify buyers who want to look at the home (think safety), understanding contract management and timelines (or hire an attorney), pricing and terms negotiations, process to open title and escrow services, and how to avoid pit falls and work through challenges.
If a real estate broker is hired, make sure to research who you hire. Not all real estate brokers have access to the same tools, technology, and employ the same skill set, experience, and education to make a seller's goals a reality. We've had to interview to become the selected listing agents on countless occasions because of the skills and technology the team brings to every home sale. The goal is to create the most exposure so our sellers can sell faster and for more money than competing homes.
Either way be prepared for ...
Having A Lot of People Walk Through Your Home
Having the goal to sell comes equally with having a lot of people walk through a home. There is an inherent fear reaction to that because:
- A home has to be show-ready all the time.
- You never know who maybe walking through the house.
- Showing times may not always be convenient.
The second bullet point is not meant to scare but its a reality. In a NWMLS bulletin, Eric is being seen again at open houses and is up to his old way of stealing prescription medication and other items. Here is what you should do if Eric arrives at your home.
Selling a Snohomish County home in 2019 is going to be competitive, active, and each home needs to put its best forward to sell faster than their neighbor's house.
If you're looking to sell a Snohomish County home, Mickie and I would be more than happy assist, please contact us at your convince.