As a real estate agent in upstate New York, I can confidently say that home sellers are in a good mood these days. Who can blame them? In this seller's market where houses are selling quickly and with the highest prices, many sellers are excited to make money and make a fortune.

In many cases, they will succeed-but this crazy prosperity may also go too far. This bullish optimism may lead to disturbing conflicts with reality.

For example, a seller of mine insists that his home is a secluded place, he has an unusual concept of what privacy means, and his home is adjacent to another place. Others are certain that their house has doubled in value since it was bought, or that desperate buyers will not care about the dead tree in the front yard.

Like my colleagues, I have witnessed the "wake-up call" of many sellers. And, to help other sellers avoid such uncomfortable conflicts with reality, I think this will help highlight some common expectations you might want to control before listing your home.

Markets across the United States are facing a shortage of homes for sale. Therefore, it is not uncommon for houses to be sold a few days or weeks after they are on the market. However, there must be many factors at work.

Real estate agents usually only see this when the house is in a good location, is in a turnkey state, and is listed at a median price in a certain area. (The national median is approximately US$380,000.) Homes that require extensive renovation, have a higher price range (read: less competition), or have quirky features may remain on the market.

Your home may be your pride and joy, but beauty is in the eyes of the beholder. Many sellers who are tempted by a strong seller’s market may ignore their real estate agent’s advice and insist on an unrealistic figure just to see if the market can afford it.

"One of the biggest mistakes sellers can make is to adopt ideal pricing just because it's a seller's market," said Jeremy Bolger, a licensed real estate salesperson in Brown Harris Stevens, New York City. "We have seen many transactions that have received multiple offers and are too demanding or too demanding, but they almost always stem from the buyer’s perception of some form of value. If there is no perceived value, even with limited inventory, buyers usually I will stay on the sidelines."

Nowadays, many investors are willing to snap up fixed shoe uppers, but ordinary Joe buyers are not in the mood to renovate.

"If the seller has a place that needs retouching or decoration work, it is usually best to do it before listing," Bolger suggested. “Due to all supply chain issues, construction and renovation costs have risen sharply. Buyers may worry about buying a place where they will have to work, especially because the money spent there needs to be completely out-of-pocket, rather than buying off-the-shelf products and Everything is included in the mortgage."

You may of course avoid major renovations before putting your home on the market, but simple updates (such as painting the interior walls and replacing the hardware on cabinets and drawers) can greatly help you find buyers quickly.

In the past few years, "as is" has become a term used by sellers to indicate that any and all major repairs and/or minor repairs discovered during house inspections will not be resolved and/or negotiated under any circumstances.

The problem with this arrogant attitude is that in this highly competitive market, buyers are painfully aware that they cannot be picky, but this does not mean that their standards are zero. To be honest: regardless of the competition, many buyers still want to own a turnkey home that can be renovated without a lot of work.

The term "as is" may also be a red flag for buyers because it indicates that there may be potential problems with the house. If there are known problems, such as structural problems or boilers that need to be replaced, it is best to disclose them in advance so that all parties can understand. Fear of the unknown may prevent buyers from making offers.

In addition, in terms of real estate, everything is negotiable. If the house lingers on the market or fails to trigger a bidding war, the seller may want to reconsider the conditions for selling “as is”.

Perhaps you may have experience turning houses, or your law degree can guarantee you that you will handle such a major transaction. You may be wondering, why not post your house on a real estate website, sell it yourself and avoid paying commissions.

The reality is much more difficult than you think. You need to make high-quality photos of your home (smartphone photos cannot meet the requirements); respond to inquiries; and arrange screenings. Even with all these efforts, you will not be able to list your house on a professional multi-listing service-which means that thousands of buyers' agents will not share it with their customers.

You will most likely end up leaving your money on the table. When it comes to marketing and pricing houses, it is actually worthwhile to work with experts.

Karim Alaeddine, the lead agent of Living Room Realty in Portland, Oregon, breaks it down into: "Busy real estate agents keep their pulse, know when house prices, seasonal changes, weather patterns, or inventory flows will change trends, and act accordingly. adjust. "

Yes, you have sold your house, but where will you go?

Many sellers, after making considerable profits from selling their houses, believe that they can easily use windfalls to buy new houses. But not so fast.

If your after-sales plan involves buying a new home, whether you are scaling up or down, you will find yourself in the same group of buyers of competing homes. A real estate agent can help you through the process of selling an old house and buying a new one, so you don't get into trouble.

Erin Flaherty is a writer, editor, and real estate agent based in Woodstock, New York.

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