You may think it’s as easy as 1, put a sign in the ground, 2, list on websites, 3, sit back and watch the offers roll in…. But the truth is, even in a hot seller’s market like the one we are currently experiencing in Portland Oregon (and the surrounding suburbs like Beaverton, Tigard, Tualatin, Sherwood, Lake Oswego, West Linn and Wilsonville), there is a lot more that goes into selling your home.
Step One: Market Research, What Is Your Portland Home Worth?
Who really knows what the market will cough up in the shape of buyer’s for your home? Is it Zillow and its infamous Zestimate? Is it your neighbor who was in real estate “back in the day”? Is it you? Or, is it the real estate brokers who are in a dozen homes a week, writing offers with buyers each day, listing homes in all the areas mentioned above every single week, and closing the sale of hundreds of homes each year? You may have guessed, but it’s the expertise of those of us who are in the daily business of listing, marketing, selling and closing escrow on hundreds of homes that are the experts you should turn to for advice on the value of your Portland area home.
Start here for a quick home value:
Step Two: Prep Your Home for Sale
After you ask a real estate agent what is going on in the market in your area, you should pay close attention to the condition of the other homes that are comparable to yours. That means, look at them objectively. What do they have as special features (2 fireplaces? a large wrap around deck? a view of the river?)? What is the condition of their interior finishes? Are there a lot of upgraded features? Are those upgrades recent or were they made ten years ago? What are these homes selling for (versus listed for) and how long does it take for them to sell?
Also notice the marketing that each listing has….are the photo’s taken with someone’s cell phone (even the good phone cameras do not put your home in its best light, and 90%+ of all homebuyers start looking online, so your pictures are actually worth thousands of dollars to you, don’t skimp)? Or do they use a professional photographer who gives you photo’s like these?
NOW is the time to be brutally honest with yourself (and/or with your partner). What do YOU need to do to PREPARE your home to be an actual competitor for these other listings?
Then make your “to do” list. And follow it.
Step Three: Price Your Home for Its Current Market Condition
Ok, now it is the second time for you to be really honest with yourself. You’ve done all the work to prepare your home (or maybe you haven’t yet, in that case, you will need to price accordingly) and you are ready to sell. A good agent will take another look at the CURRENT market conditions before going live with a pre-determined price. Why? Because real estate is 24×7 and is continually changing. The market may have shifted since you looked even a few short weeks ago. Did a new listing come on the market at a very high or extremely low price? Did a nearby short sale close? Did a slew of “sale pendings” recently close – and were the final sales prices very different than the listed prices? All of these things must be taken into consideration when setting the sales price for your home.
Now that you have looked at all of these factors, together with your agent, you should set the current market price of your Portland home!
Ready now? Call 503-502-3330, option 3, today. Or visit us at one of our office locations:
Beltran Properties Group at Keller Williams
Wilsonville OR 97070
(….steps four, five and six coming soon…..see, it’s not quite as simple as 1, 2, 3…..)