How do you effectively time the market when it comes to buying or selling a home?
Today I want to discuss the subject of timing the market. Oftentimes, when it comes to buying or selling a home, the process can take anywhere from three to six months (sometimes even nine) from start to finish.
So first, let’s look at listing a home. If you need to sell a home, there are a lot of different procedures and coordinating efforts that need to be done up front—be it bringing in someone to do repairs, painting, staging, cleaning, photography, and videography, or the process of marketing a home.
It definitely takes time to get prepared, and then, once you get the home listed, it can take months to find a buyer. Beyond that, it could take 30, 40, or even 60 days to sell the home. Of course, there are some variables involved, and it always depends on the buyer’s or the seller’s needs.
Ultimately, it’s absolutely important to have a conversation with a real estate professional in advance. I usually recommend starting between two and six months ahead of time, just so that you can get the ball rolling and have those important conversations.
During these talks with my clients, I usually discuss what we can expect in terms of a timeline, as well as what makes sense and will work best for them and the type of property they’re selling. Following that, we’ll talk about how best to price a home, and from there, we can determine what your net proceeds will be. We can break it down as far as showing you how much you can put toward your next home, which will help you determine what kind of home and in what neighborhood you’ll be able to afford.
“Ultimately, it’s absolutely important to have a conversation with a real estate professional in advance.”
Not only will getting a head start help with the above regards, but talking to someone up front can actually help you sell the home quicker—potentially even before you list the property. A savvy agent can either effectively sell it with “Coming Soon” marketing or, if they have a strong network, they can talk to other agents with buyers who are ready and willing to put an early offer on the home. Usually, these sorts of buyers are more motivated and their offers are stronger.
If you’re thinking of selling a home, no matter if it’s this year or next, we’re more than happy to help you and give you the answers you need in order for you to be prepared to buy a home. Just feel free to reach out to us, and we’ll gladly get you started.