Home Buyers Compete for Kansas City Real Estate
But there just might be a silver lining.
To say we are currently experiencing a seller's market might be a bit of an understatement. The amount of homes for sale is historically low, creating a frenzy of hungry buyers. “Some buyers are going to extreme measures, such as waiving the Appraisal Contingency, just to win a bidding war and get under contract,” - Ashley Rodgers, Licensed Realtor in Kansas and Missouri. While there are always pros and cons to every situation, this situation seems to benefit the home seller. We asked local real estate experts what advice they would give to potential sellers. Here is what they said.
When should I sell my home?
If you have even flirted with the idea of selling your home, the timing couldn't be better. “The sooner you can put it on the market the better. As late spring and summer kick into gear, more and more people will be putting their houses on the market. If you can hit the market without competition it will benefit you greatly.” - Molly Rector, Licensed Agent in Kansas and Missouri
How ready does my home have to be?
Even though this is a seller’s market, there are still some things you can do to improve your already great odds of selling your home quickly. “While a seller might be able to get away with not doing certain things, it is still in their best interest to get the staging right, update certain items and make sure everything is clean and ready to go when they hit the market... Take the time to get things in great condition and ready to show. Buyers will reward you for your time and effort with a better offer!” - Aaron Leib, Licensed Realtor in Kansas and Missouri
Make sure the price is right
How do I know what to ask for my home? “I search for listings comparable to your property to determine a list price. If you have a prime product, i.e., move-in-ready and in a heavily sought after location, you might want to price it exactly where it should sell to create a multiple offer situation. Buyers will recognize that it represents a great value. This will more than likely result in an above-asking price for your home from a bidding war.” - Lisa Hall, Licensed Realtor in Kansas and Missouri
The first few days are critical
When it's time to sell, what’s the best thing a seller can do? “Move out of the house the first weekend that you are listed. On some homes, we are getting 40+ showings the first weekend. Leave the house perfectly cleaned and staged, and then go have a staycation close by. The goal is to list your house on a Thursday and have it sold to multiple offers by Sunday. Sellers that are the most accommodating and most prepared for showings get the best financial results.” - Katie Yeager, CEO and President of Your Future Address
How much will I end up paying?
Most brokerages in the Kansas City Area charge 6-7% commission on the sale price of your home. However, there is one great way to save money while selling your house. One local brokerage is changing the way residential real estate works. Your Future Address has a unique approach to listing houses. You get all the attention to detail and customer service you would expect from a Realtor while paying a low flat-fee. Most of their sellers pay less than 4% total including 3% to a buyer's agent. Your Future Address saved sellers over $1 million dollars last year and they have already reached over $11.9 million in sales in 2017.
For more information on Kansas City real estate, Your Future Address, or to get connected with one of the experts above, click Here. Your Future Address can also be reached at (913) 220-3260.