Austin has been labeled the hottest market by Zillow in 2021 and the competition is stronger than ever. We’ve seen homes go live and under contract in a matter of days. The turnover is very quick due to the high demand and lack of available homes with months of inventory at .5 months which is even lower than 2020 at .8 months.
While it’s a great time to sell your home, it’s also a very tricky time as sellers also become buyers and enter the same highly competitive market. Because homes sell in a matter of hours, we want to make sure our clients are not just selling faster but smarter.
We’ve broken it down to four ways to set yourself up for success:
Know your timeline
When you sell your home, you’re most likely buying your next one in Austin which means re-entering the highly competitive market as a buyer. So let’s make sure you’re set up for success by chatting with us at least 1-2 months in advance of selling your home. Its important we discuss the following:
- Right timing of the market
- What the next chapter looks like for you
- Timelines and next steps
A good rule of thumb is to look for your next home at least 3 months in advance of listing your home.
Be ready to put down at least 20%
Most sellers are expecting an appraisal waiver or a partial waiver so you need to be competitive. This means you may need more money to put down as sometimes sold comps aren’t catching up with pendings. Having 20% or more helps you compete with other buyers who may be paying cash.
Staging is still key
Just because we have so much demand and low inventory, sellers still don’t want to cut corners. In order to get the most you possibly can, we want to make the right first impression.
This can be achieved by decluttering and prepping your home for photos and showings so that potential buyers can really see the value. It’s also important to stage the home to show potential lifestyle choices, such as offices, mudrooms, and more!
Have experience on your side
Not everyone can sell a home at the same level. In order to get the best asking price possible, you need to have an agent and brokerage, who has a deep knowledge of the market, on your side. It’s an art form to know today’s market and how to sell the home with increased perceived value. Having the right agent can help sellers walk away with more money in their pockets.
If you’re looking to sell your home this year, be sure to contact us ahead of time so we can make sure you’re set up for success!