The real estate market in Arizona has been red hot since the pandemic and remains to be an ideal market for sellers. This year, we have seen homes flying off the market within hours, multiple offers over the asking price, and an unprecedented amount of cash buyers.
Now is a great time for Arizonans who have been thinking about selling to take advantage of the current market conditions and sell their home for more money. Here are a few things you should consider when listing your home.
1. Work With a Local Expert Finding an experienced agent can make all the difference in selling your home for more money. It’s extremely important to work with someone who is an expert in your market and understands the current conditions. They can ensure you are selling your home at the right time and for the right price.
2. Understand Your Local Market It’s been a seller’s market in Arizona for quite some time now where we have seen buyers compete for homes like never before. Being familiar with market trends in your area is crucial to determine the best time and best price to sell your home. Prospective sellers can look at the average Days on Market for similar homes in your area to see how fast they are selling and at what price point. Knowing if your home is in high demand can impact how you price your home and your ability to negotiate repairs and offer contingencies.
3. Set the Right Price Knowing what price to list your home for can be tricky. You want to make the most money for your house, but also want to sell your home quickly. Knowing your home value is about how much your home could reasonably sell for if you put it on the market within a few days. If you’re not sure how much your home is worth, a great place to start is with our home value report from an experienced Homie agent. They can conduct an in-depth analysis based on homes that have recently sold in your area and provide a custom pricing recommendation for you.
4. Understand How Much It Will Cost to Sell Your Home It can be costly to sell your home. Typically, you pay a 3% listing fee amounting to thousands of dollars depending on the home price, closing costs, moving expenses, etc. – these are important to factor into your total selling costs. When you sell with Homie, we charge a low fee regardless of the list price of the home. Our agents help you get the most profit for your home by helping you save on commissions and pricing your home to get the most money.
5. Negotiate the Best Offer Many sellers will want to immediately take the highest offer, but it’s important to factor in the contingencies that may come with it. Many offers may include a financial, home sale, or inspection contingency that can affect the overall price. In a hot market like Phoenix is today, it’s common for buyers to waive contingencies to make their offer stand out amongst many others. Again, working with an experienced real estate agent will ensure you are accepting the best possible offer for your home.