Increases in home sales across the Kansas City metro in recent months have resulted in a decreased inventory of homes for sale in the area. In fact, the inventory of homes for sale is down more than 20 percent compared to the same time last year.
With fewer homes on the market and more buyers shopping for homes, it’s no surprise that many local homeowners who have been considering the possibility of selling are realizing that today’s market conditions might make it an ideal time. While every seller has their own unique circumstances, it’s safe to say that most have one thing in common – the desire to sell their home for the best price and with the least amount of stress and inconvenience.
On that front, it’s more good news for sellers. The most recent Kansas City market statistics indicate that the on average, homes in our area are on the market for fewer than 70 days and are receiving nearly 96 percent of the original list price. While market conditions are certainly ideal for sellers, the very best way to ensure that your home-selling experience is positive is to properly prepare. Below are a few tips for getting your home ready for the market.
▪ Take a look at your home from the eyes of a buyer.
Imagine that you’re a prospective buyer seeing the home for the first time. Remember, your home will be compared to many others on the market, so it’s important to consider ways to maximize space, highlight the positive features and create the best first impression possible.
Start by making a list of what needs to be repaired, organized or painted in each area of the house. Consider “pre-packing” items to create a clutter-free environment that buyers will find most inviting.
▪ Maximize the value of your home.
Cosmetic improvements such as paint and landscaping can have a major impact on whether your home shows well compared to other homes on the market. In order to maximize the value of your home, you will also want to ensure that your home is mechanically sound, by inspecting all systems and appliances that might be in need of repair.
As a general rule of thumb, take a look at the homes in your neighborhood to ensure that your property offers comparable features and quality to allow you to maximize the value of your property. Before making costly repairs or upgrades to your home, always consult an expert who can offer guidance on which home improvements can provide the best return on your investment.
▪ Find a trusted real estate expert.
Selling a home can be a complicated process that requires a unique set of skills and knowledge. Although there are millions of people across the nation who hold a real estate sales license, only members of the National Association of Realtors (NAR) can use the term “Realtor.”
In addition to providing valuable, up-to-date information about the local real estate market, Realtors also subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
There are a variety of ways to find a local Realtor to help you as you begin the selling process. One of the most popular ways to find a Realtor is through the recommendations of family and friends. You can also search for Realtors throughout the Kansas City area at www.KCRealtorLink.com.
Dan O’Neill, MGRI, is 2015 president of the Kansas City Regional Association of Realtors.