Selling Your Home in a Hot Market

When the real estate market is hot, things can move fast from listing to closing. Here’s how sellers can prepare.

Get Your Paperwork in Order

“Properties tend to sell quickly in a hot market,” says Jennifer Zenquis, Sales Associate at ERA Justin Realty, “Sellers need to be prepared with all their documents and disclosures before the house is on the market.” Having your paperwork ready will make a buyer feel confident making a quick closing offer.

Get Your Home Ready to Show

Consider hiring an inspector to uncover any surprises. A seller in a hot market has a better chance of selling a home “as-is,” but it’s best to be aware of any issues and evaluate fixing them before listing. Thoroughly declutter and clean, and don’t forget to stage. “Staging is probably the number one way to distinguish your house above the rest,” says Jennifer Metzger Darby, Owner/Broker at ERA Justin Realty.

Hire a Realtor

Many homeowners consider selling by owner in a hot market. They figure if inventory is low, there is no need. But the opposite is true. Buyers are more likely to use an agent when inventory is low. You will need your own agent to handle multiple offers in the case of a bidding war and get you the best deal possible.

Act Fast

Be ready to review all offers and respond within 24 hours. If you plan to counteroffer, do so in a timely manner. It’s not uncommon for the negotiation process to take less than 48 hours in a hot market.

Be Prepared to Move Quickly

Hot markets tend to see more all-cash transactions. If you accept an all-cash offer, be prepared to pack up and move quickly. If your buyer doesn’t need a loan, you will likely close in a short amount of time. Line up a rental if you have not found your new home yet.

Be Cautiously Optimistic

Just because the market is hot doesn’t mean you’re guaranteed multiple offers over asking. But it’s possible! If you’re considering selling, contact Jennifer Zenquis or any of the agents at ERA Justin Realty by calling 201-939-7500.