Home Selling Tips in a Hot Real Estate Market

While there are advantages to selling a home in a hot real estate market, nothing is guaranteed, so following these home selling tips will help ensure you get top dollar.

A hot real estate market means fewer homes available with a lot of buyers. But it does not necessarily guarantee a quick sale over asking price.

The good news? Having more buyers competing to buy your home puts you in the driver's seat. Also, hot markets can often mean more buyers are purchasing with cash or minimal financing, which is great for sellers. These purchases often reduce the amount of time under contract, with a faster closing.

Home Selling Tip: Get Your House in Order

The "wow" factor is still important, as first impressions play a significant role in a hot market. Buying a home is often an emotional decision. It is important that your potential buyers can see themselves living there.

Small fixes almost always pay off. Paint, clean, replace door handles and fix leaky faucets. If you love bold colors, repaint with neutral colors, so buyers can envision their own style.

Getting your property ready starts with curb appeal. Add flowers or small shrubs and make sure your home is welcoming from the street to the front door. Keep your lawn tidy and sidewalks clean. Power wash your house and driveway. Do you need a new mailbox? Once a buyer walks in, make sure your entry is welcoming with a small bench or vase of cut flowers.

If you want to attract multiple offers, be sure to stage your property to make the best first impression. Staging can be as simple as setting the table or placing a book by the bed. It also involves arranging the furniture to maximize the space.

Then, de-personalize your house, including removing family photos and personal keepsakes. Do not overlook your closets and storage! Take things out of your closets and organize what is left. Ample storage is something every buyer is looking for.

Make your house brighter by cleaning the windows and increasing the wattage of your light bulbs. Not everyone is a pet lover, so be sure to remove pet toys, food and pets during showings. It's important to be ready to show at a moment's notice, with dishes and dishwasher cleaned out and floors cleaned.

Home Selling Tip: Get Your Paperwork in Order

Home selling tips in a hot market include being prepared to sell quickly by having all disclosure documents ready before you put the house on the market. This will better accommodate shorter contract deadlines. It can even be beneficial to line up a title company in advance and get a pre-appraisal, which helps the process move toward closing.

Other documents that will be helpful include records of appliances to be included in the sale such as any warranties, manuals and service records.

Also, make available documentation on repairs, replacements and improvements that add value to the home such as new roofs, siding, windows etc. with permits, if they were required. A pre-listing home inspection can help identify any issues that will need to be corrected that could hold up the closing. Record of pest control services and warranties are especially helpful in Florida.

Other helpful documents can include homeowner's insurance records, a property survey (in case of easements), the deed, any home appraisals you have had during ownership, the original sales contract and title report (in case of discrepancies in the current sale).

Don't go it alone

Be sure to engage a professional, who can provide you with more home selling tips from their experience in the market. While people feel that property will "sell itself" in a hot market, many buyers use an agent to get a jump on properties before or as soon as they are listed. It's also advantageous to advertise your home to reach buyers both local and from elsewhere who are looking. An experienced agent will bring you the best buyers to encourage competitive offers.

Before listing, an agent can advise you on whether to make significant changes to your property. A hot market can mean that buyers are more willing to overlook flaws or accept pricey fixes.

Working with an experienced agent helps you get the maximum value of your home by marketing your property and guiding you to the best price that will draw buyers and potentially result in offers over your asking price or potential bidding wars. In addition, an agent with a network of prospective buyers can bring more interest to your property.

Be ready to review all offers in a timely manner, responding within 24 hours one way or another. The negotiation process generally takes 24 to 48 hours. An agent can help you vet offers and work with the buyer's agent to anticipate the ability of the buyer to execute the contract. They can help you handle multiple offers, guiding you to the best offer, which may not be the highest price. Experienced agents are well-versed in recognizing an offer that is the least likely to fall through.

Most importantly, you want to work with an agent who understands the big picture in real estate, not just a certain neighborhood or area. I would be happy to tell you what I can do to get your house sold.