Last week we discussed being a buyer in this Bozeman market. Today we will discuss the enviable position of being a seller.
There are times when buyers hold all the cards and can push and pry to get their every wish. But to say this is one of those times would be like saying Amazon is on the brink of insignificance.
Needless to say, being a seller in this market is a great position to find oneself in. However, just because you have a property for sale doesn’t mean this is a slam dunk. There are still many hoops to jump through to get to the finish line.
First, sellers must price their home correctly. Even in this market we all see houses that sit on the market for months, or even years. Many times this is because the home is priced too high compared to competition. Strategic pricing is crucial. In some cases, in sellers markets like this, pricing the home slightly below market value can help push the price up as it gets the attention of a lot of buyers.
Second, homes for sale must be marketed well. In this age of technology people have very short attention spans. Buyers may have several properties they’re looking at so of course you need to make sure your home is being marketed properly based on factors such as location, price point, comparable sales, and target demographic. A small turn-of-the-century bungalow near downtown Bozeman is marketed much differently from a large property on 20 acres in Bridger Canyon.
Another important aspect of selling a home is staging it properly. We’ve all seen photos of homes where there are clothes strewn all over the place, clutter everywhere, etc. Somehow I don’t think that old bottle of mayonnaise on the counter adds to the resale value. When a home is staged for sale, everything about the home should accentuate the house rather than distract from it (that clown collection from 1988 will have buyers talking about things other than their desire to buy the home). Cleanliness and organization are very important. Declutter and depersonalize as much as possible. These things go a long way in buyers’ perception of your home.
A good real estate professional can guide sellers through these issues to help get top dollar for a property. Being a seller right now is a great position to be in. However, just because you’ve planted the urine scent doesn’t mean you’ll attract the deer (or enter similar disgusting hunting metaphor I don’t understand). Sellers must use a solid strategy to get their home sold for the best price. Teamwork makes this happen!
And once the home sells, you can begin browsing clown collections on Amazon.
Last week’s trivia question: What Bozeman elementary school has the largest student population? Answer: Meadowlark (506) followed by Morning Star (501)
This week’s trivia question: Rank the following cities in order of median resident age: Bozeman, Missoula, Boulder, CO, and Jackson, WY. (See answer next week)