Selling your home in a changing market is the biggest concern for most home sellers and their agents right now. With mortgage rates skyrocketing this year, there are fewer buyers, offers, and houses being sold.
While the real estate market has changed dramatically in the last few months, many newer agents have never experienced this kind of market. Previously houses were flying off the shelf sometimes sight unseen. We are now back in a market that I love. For the past few years, it was about having to come up with the best strategy to be the seller’s favorite offer. Now it comes down to Real Estate 101. It comes down to understanding the market and how your home can stand out from its competition once again. We are finally back to selling homes using the basics of real estate.
You see, selling your home in a changing market comes down to three things. The first and most important thing is your home staging. You can’t sell your home without it.
The art of home staging
In 2006, I learned the art of home staging from the lady that created the concept in 1973. Home staging is not new. It was originally designed for occupied homes to create your best look by using your own things. It was never about furnishing vacant homes. And in 2006, homes weren’t selling. I knew the problem and I just needed a way to fix it. There were houses I would show and be embarrassed about the way they looked. I knew the secret to selling any house in any market was home staging. But I didn’t know how to sell the idea to my sellers. After tracking down the lady that created home staging, I flew to Chicago and worked with her one on one to learn the craft itself and her best-kept secrets.
Overland Park Home Staging was born
When I returned from Chicago after my training and becoming an Accredited Home Staging Stylist, I got busy and started a home staging business. Another Staged Home later became Overland Park Home Staging. In 2006, it was a very new concept to most Realtors but when they saw the difference it made, things really took off!
At that time, there was only one other home stager in the area that I knew of. But as time went on, home stagers started popping up everywhere. Most of them never had any formal training. At that time, I was known as the Queen of Staging.
In the art of home staging, there is a definite home staging concept that I learned and there are strategies to use on every house. I was lucky enough to have the “right eye” to be able to walk into a room and create your home’s best look. It was mostly about what to keep, what to get rid of and the right arrangement of your furniture and accessories. Anybody can come in and tell you to pack up your stuff – that’s called a Home Staging Consultation. What you really need is someone to come in and create your home’s best look using what you have – that’s a Now to Wow Styling Session. Sadly, that’s where most of today’s home stagers fail. They just don’t have the right sense of style that’s necessary to create the look that sells.
To stage or not to stage
The way your home is staged or not staged will determine whether you get showings and offers on your house. All of my listings have to meet the criteria of the Model Home Look before we decide on your actual listing price. I tell my sellers all the time, sometimes I increase the price because I’m so impressed with the end result and the way their home looks.
Pricing your home to sell in a changing market
Pricing is the second most important thing when it comes to selling your home in a changing market. The real estate market changes every day. You can decide on a price for your house and the day before you come on the market, you see a for sale sign in your neighbor’s yard that is less than your price and their house is better than yours! Believe me when I tell you that happens ALL THE TIME!
I have a very specific Home Pricing Strategy that I use with every new listing I take. The seller and I have to agree on the strategy and if we get it wrong, we know when we will course correct it even before they come on the market. Time is of the essence in real estate and every day you’re overpriced is detrimental to your bottom line.
The right price is imperative to sell your home quickly in a slower market. But even with that said, if your home shows well and the buyers fall in love with it, they will make an offer even if it’s lower than the asking price.
Choosing the right Realtor in a changing market
The third most important aspect of selling your home in a changing market is the Realtor you choose. I know, most sellers choose their agent based on their relationship with that person. My last listing was referred to me by a former seller of mine. Her friend was getting ready to sell and she was thinking about using a newer agent that was a friend of a friend. But my friend intervened and suggested that she give me a call – knowing I could turn her house into a fabulous listing that would show well and sell quickly.
My 35 years of experience and home staging expertise came into play when we turned an original kitchen that was not being used, into a mudroom to die for on a shoestring budget. The house sold in September 2022 when mortgage rates were skyrocketing. We sold the 1st weekend, with multiple offers and it sold for $20k over the asking price.
I can’t imagine where they would be had they hired the newer agent with little experience. This house went through a few major transitions. Other agents told them things to do to the house that I told them didn’t matter. Real estate is totally each person’s opinion. Ask 5 agents for their advice and they will all give you a different answer. I always look at it from a home stager’s point of view. My plan must have worked. My sellers are now living in Colorado.
Is your agent right for a changing market?
If the Realtor you are going to hire is complaining about the slowdown of the market, that person might not be the right agent for you. In other words, houses are selling when the listing agent knows how to make it happen. That being said, your house has to look fabulous and be priced right in order to sell.
A changing market is the best time to talk to different agents. I always suggest talking to 3 different agents and making your decision based on their game plan to sell in a shifting market. If they are still using the same plan they were using a year ago, move on. The market has changed.
You see, you can still get multiple offers for thousands over the asking price if your house speaks to the buyers. Instead of reducing your price 30 days into the deal, now is the time to create your home’s best Model Home Look and wow those buyers. You’ve only got one chance to make a first impression. It’s the 10 second rule! Buyers will make a decision about your house within 10 seconds of opening the front door. Give them what they want and they will pay you more money for it every time.
At the end of the day, there are only 3 ways to win when selling your home in a changing market. In real estate, there is no try. Nothing else matters other than:
- The way your home looks
- The price
- The Realtor you choose
Without those 3 things in place, you too could be looking at average days on the market of 30+ with multiple price reductions. It’s your house, your money, and your future. Why not get it right from the beginning and get your home sold now? There are still plenty of buyers out there. Why will they choose your home over your competition?
To schedule a FREE 30-minute home selling consultation with me, call or text (913) 515-3250 to see if what I do will work for you!
Check out today’s new listings either below or in the sidebar. Call or text me at (913) 515-3250 to see inside one of these homes. I AM NEVER TOO BUSY to show you a house. Real estate is my main hustle after 35 years! Everything else I do is bells and whistles to enhance your experience!
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(all data current as of 12/1/2022)
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