The best results in real estate come from preparation. For sellers, that means preparing their properties to be ready before spring. This includes securing photos, executing design updates, addressing potential repairs, and planning pricing strategies. For buyers, this means securing financing, understanding market trends, and being prepared to act when an opportunity arises.
Sellers
Spring is one of the most competitive seasons in real estate, and it’s essential that sellers position their property in the best light possible. Opting for staging and professional photos is a great way to help potential buyers visualize the house as livable and a place they want to call home. According to NAR’s 2024 Buyer Profile Report, 43% of buyers start their home search online, and 41% of buyers say that photos were among the most useful tools. To avoid losing out on the buyer market share, utilize property pictures and virtual tours to your advantage to generate stronger buyer interest.
While it’s not necessary to remodel your property prior to selling, it can help reduce the time your property spends on the market, as well as potentially influence higher offers. Small updates such as fresh paint, new cabinet hardware, modern fixtures, and a professional deep clean can all make a noticeable difference in perceived value. Furthermore, avoid potential inspection finding costs, and ensure all plumbing and electrical systems are working properly. To improve your curb appeal, consider a fresh coat of paint for the exterior and a power wash to brighten up your property. Additionally, planting new plants can draw buyers’ attention to your property.
Work with your agent to develop a data-driven marketing and pricing plan for your property. A multi-channel marketing approach will maximize your property’s exposure for a potentially faster sale and stronger offers, especially in the spring with increased competition. Combine social media promotion, targeted email campaigns, and hosted open houses to connect with motivated buyers, an area where our agents at Christie’s International Real Estate | Southern California excel. For pricing strategy, review a Comparative Market Analysis (CMA) with your agent using current neighborhood data so you can compare your property to recent local sales. Account for any recent repairs or updates your property has had, as this can affect your price. Setting a well-informed, competitive price positions your property effectively amid rising spring inventory.
Buyers
For buyers, preparation is power. Getting pre-approved early not only clarifies your budget, but it also strengthens your offer against competition. This allows you to understand how much you can afford, and the budget of the houses you should be looking at. Additionally, it helps to boost your credibility as a buyer to sellers, especially when the likelihood of bidding wars increases in spring, and it streamlines the buying process since your financial information has already been submitted and reviewed by a lender. This expedites the underwriting and closing process once your offer is accepted.
This is the time to be vigilant and observant. Is it a buyer’s, seller’s, or a balanced market? Understanding current market dynamics, like median home prices, housing inventory levels, days on market, and interest rates, helps guide your negotiating strategy. Low inventory, high median prices, and short days on market demonstrate a seller’s market. The opposite, and high interest rates, all point to a buyer’s market. Identify the traits to help strengthen your negotiating strategy when the time comes. Additionally, review local listings to track sales pace and pricing. This will help you in building a reasonable and informed offer when the time comes.
Spring is typically a fast-paced market, and it’s crucial to be prepared to act fast. The likelihood of bidding wars greatly increases, and competition can be fierce. Buyers who plan now will be ready to act confidently when the right home appears.
Prepare For Spring Now
Whether you’re buying or selling, success in spring starts now. As a seller, set your property up for success, and the offers are sure to come rolling in. For buyers, be informed, prepared, and ready to make a move in the competitive market that spring often brings. Prepare early, work with an experienced agent, and set yourself up for a successful season ahead.
If you’re ready to start the process, connect with our team here.