Ask Cassidy: Getting Top Dollar for Your Home in Today's Market

While the market in Coastal Carolina remains strong, the days of getting 10 competing offers on the first day are largely over – at least temporarily. The combination of inflation and higher interest rates have begun to shift our local real estate market to a more “normal” level. In this new environment, sellers need to bring their “A-Game” in marketing their homes if they are going to maximize their sale price. 

To achieve every seller’s goal of receiving top dollar for your home, here are a few key strategies that are guaranteed to help you secure a profitable outcome in today’s ever-changing real estate market.

Staging Your Home

In a red-hot market “staging your home” is rarely necessary. However, as we return to a “normal market,” staging your home may be very beneficial. Your listing agent should do a thorough cost benefit analysis of the cost of staging versus the expected increase in sale price to see if the investment is justified. Please don’t take it as a criticism if your agent suggests staging your house! It’s not a commentary on your taste. Good listing agents know that buyers must be able to visualize themselves living in a house if they are going to buy it - and that means it can’t look like “your house.” Family pictures, unique and/or dramatic art works, or your wall of collectibles and trophies will only distract buyers from visualizing themselves living in your house and reduce the value you ultimately receive. 

Open Houses

The conventional wisdom is that open houses only provide an opportunity for your neighbors and “lookie-loos” to tour your house. While that may be true in some markets, it’s not true in coastal North Carolina. Many of your neighbors have friends and family that are planning to relocate here and have asked your neighbors to keep an eye out for an attractive house near them. Additionally, many tourists fall in love with our pristine beaches, extensive boating, multitude of golf courses, low taxes, and safe neighborhoods. I’ve lost track of the number of times I’ve heard “I came down for a vacation and decided to stay.” You never know where your buyer will come from so make sure your agent is willing to invest the time, effort, and resources to host multiple open houses.

The Story Video

A video house tour is a fairly standard marketing tool today – especially for upscale homes. However, your video needs to be more than a tour through the rooms. Marketing videos are most effective when they have a “theme.” Every house has a “best use” based on its layout and location. Is the house “perfect for entertaining,” a “quiet place to enjoy nature”, or is it the “perfect vacation beach house” that your buyer has been dreaming about? The buyers who will pay top dollar for your home will be the ones whose vision for their homes matches your house’s best use. One of the many, many things I learned in my past life as a marketing specialist is that a highly targeted marketing campaign focused on the optimal audience delivers the best results.  

In this environment you need to bring your “A-Game”. For additional tips to make your home stand out and sell for top dollar, Ask Cassidy. Email me at [email protected].