Biggest Challenges Sellers Face in 2020
Biggest Challenges Sellers Will Face In 2020
It’s hard to believe that we’re already a month into the new decade. With a new year comes new opportunities for those looking to sell their home. But with those opportunities, new challenges are also brought to the forefront. As a real estate expert in Morristown, TN, I find it important to look at both 2019’s housing market statistics as well as those predicted for 2020 to advise clients on how to navigate the selling process. After sifting through the data, I’ve compiled a list of some of the biggest challenges that sellers will face in 2020.
Deciding the best time to sell
We’ll start with one of the more miniscule challenges, meaning ones that won’t have a drastic impact on how quickly or for how much you sell your home (for the most part, at least). According to statistics pooled by hundreds of top real estate agents in the United States, winter sales tend to be on the slower side. Keep in mind, though, that less people tend to sell during the cooler months, which may put you at an advantage if you plan on selling now.
Keep in mind that each region in the country has times of the year that are the best for selling. Consult with your real estate agent on when that month is and how you can take advantage of it for a more successful sale.
Open house or not
One topic that real estate agents in the country have been debating is whether or not an open house is beneficial. Since it’s one of the longest standing “traditions” in the United States for home sellers, most people don't consider not hosting an open house as an option. While some real estate agents are staunchly for holding an open house or houses, others believe it’s more situation dependent.
Take into consideration your location, your living situation (i.e. having kids and or pets), and your schedule before deciding if an open house is right for you. While they do pose great benefits, especially if you want to sell quickly and successfully, it’s not an “end all, be all” to whether or not you sell your home.
Good marketing tactics
With technology only advancing, and with more and more people turning to their devices to help them find their dream home, getting ahead of the curve this year will help you sell your home. Take advantage of social media and the internet as a whole to market your home and connect with potential buyers. Long gone are the days where buyers would locate newspaper advertisements for homes. Now, people can access listings in seconds. This makes it easier for your listing to be noticed, but it also ups the competition between sellers in the area. Be smart when using technology to sell your home.
Pricing your home right
According to top real estate agents, pricing your home right was one of the biggest challenges sellers faced in 2019 and will continue to be a struggle throughout this year. Many sellers tend to overprice their home, which can impact how quickly and ultimately how much you actually sell for. Before jumping the gun and pricing your home based on how valuable you think it is, take into consideration the local market, how good of shape the house is in, and the opinion of your real estate agent. An accurate price could be the dealbreaker in how successfully you can sell your home this year.
As we head into 2020, keep in mind that if you have the right tools and do the work, selling your home shouldn’t be an issue. If you’re in the Morristown, TN area and you’re looking for a real estate agent who has the experience necessary to navigate through 2020’s challenges, contact me today!
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