Unique homes have a lot to offer in their own way. When preparing to sell your unique property, here are a few things to consider:
- Never underestimate the competition. You have a great property and you’ve put a lot of work into it, and it’s unique. But, don’t underestimate the competition out there. Different properties appeal to different buyers for a multitude of reasons. And contrary to what we may think there are some properties that sell faster and leave us scratching our heads saying… “what just happened?” Whether it’s a cookie cutter home or a unique home, timing and pricing are everything.
- Don’t overestimate your home’s value. You know how much money you put into your property. And, you love the end result of your high-end renovation. Of course, you want to get out everything you put into the property and then some, but you don’t always make dollar for dollar back on a renovation. And, when you have buyers coming in looking at the property, they are envisioning themselves and how they live in the home. So, what you deemed functional and beautiful, they may think is “pretty,” but needs to be redone to work for them; and, sometimes you may find that offers come in lower than anticipated depending on the buyers. This is not the time to get defensive or take it personally. Just as sellers want to get the most they can for their property, buyers want to pay as little as possible to feel like they got a “good deal.”
- Proceed with caution when you have a tight timeline. Regardless of how nice a property is and how hot a market is, everything changes when you have a tight timeline. If you only have 60 days to market a property and the houses are staying on the market for 100 days, make sure you and the sellers understand that and know the ramifications of what happens if the property doesn’t sell in that timeframe; and, list the property with that in mind. It may be worth top dollar, however, when you’re watching the clock tick and the days go by, that creates a stressful situation. Take heed in advance. Each seller wants to believe that their property will sell quickly for top dollar, but sometimes it’s not quite as quick as we would have hoped. And, it’s a tough place for the agent, no matter how good they are, when they get one where they overpromised and undelivered. They had the best of intentions and worked hard, but it just didn’t work out.
- Be prepared to negotiate. Hardball can make for a hard sell. Negotiations aren’t always about price. They can be about the closing date, personal property, closing costs, and of course sale price just to name a few items that are negotiated. Approach negotiations with an open mind…with a win/win attitude. If you’re too hard in your negotiations, it’s nothing for the buyer to walk away and find another house. I’ve seen far less emotional purchases recently than I have in previous years.
When it’s all said and done, the metro-Atlanta market is hot! Many homes are selling quickly, but many homes are sitting a bit longer even though we’re still considered to have low inventory. That shows us that our housing market is stabilizing. Remember that each property is unique in its own way and just needs the right buyer.