When selling your home, a lot of your success depends on the state of the market. This article will show you how to take advantage of a sellers market in Kansas City.
A buyers market (defined as more than 9 months of inventory) is when there are more home sellers than buyers. This is the opposite of a sellers market (less than 3 months of inventory) where there are more buyers than sellers. If you’re trying to sell your home in a seller’s market, you already have the upper hand!
Here’s how to take advantage of a seller’s market in Kansas City for home selling…
How to Capitalize on a Seller Market in Kansas City
First Tip: Ask for a Higher Price
Because there is more buyers than sellers, there is more demand than supply. This pushes the price of homes up! So our first tip is, don’t be afraid to ask for more money!
Second Tip: Negotiate for Better Contract Terms
While price is extremely important, there are many other factors that you can negotiate for. Buyers ask for things like concessions, repairs, and closing costs. In a seller’s market, you can press for things as well such as: selling the home without making repairs (sell it “as-is”), ask the buyer to pay all closing costs, or negotiate a lease back so you have time to move. You can also have them remove contingencies such as inspection or financing contingencies.
Final Tip: Create a Bidding War for Your Home By Getting Multiple Offers
If you only have one offer for your property, it can feel like you have to take it or you’ll never sell your home. But in a seller’s market, remember that another offer is just around the corner. Use our tips to generate multiple offers so that you can negotiate from a place of strength and get the best price and terms for you.
In summary, if you’re looking to sell your home in a seller’s market, you should feel great! You have everything going for you and this is the best time to sell. So ask for more money, with better terms, and create multiple offers so that you can leverage them in your negotiations.