Overcome These Obstacles When Selling Your Montclair Home

Trish Lowe  |  February 19, 2023

Overcome These Obstacles When Selling Your Montclair Home

Selling Montclair real estate can present obstacles, and without the right help or knowledge, it can jeopardize a sale. To get a heads-up on common obstacles in the selling process, such as market conditions and emotional connections, review the list below. But first, here’s what you need to know about Montclair’s local trends when entering the market as a seller.

Montclair is a desirable Chapel Hill neighborhood that residents love for its traditional and Cape Cod constructions, its proximity to downtown and Jordan Lake, as well as its quiet and private community environment. Although closed sales are decreasing, demand in the area is still strong, which benefits sellers. With this in mind, here’s how to overcome common obstacles when selling your home.

Selling in unfavorable market conditions

Unfavorable market conditions like selling in a buyers or neutral market can be difficult for sellers who have no choice but to list their Montclair homes for sale. For sellers, unfavorable market conditions include a crowded market or when there are several properties to compete against. This drives down prices and prompts buyers to negotiate for more concessions with sellers. Additionally, not having enough buyers on the market searching for homes can create a longer listing time.

Listing a property FSBO

Although some sellers choose to list their properties for sale by owner, completing the process yourself comes with many added challenges. For one, an average seller doesn’t usually have the connections or resources a professional has, which makes it more challenging to prepare and market the property. Selling a home is also time-consuming, as a seller must complete research, be available for showings, and learn how to negotiate with buyers’ agents. Without the right experience, this can lead to even more problems and mistakes.

To save extra time, stress, and money, the best thing a seller can do is work with a real estate agent. They’ll be well-versed in the market trends and the locale, which they’ll use to provide tips and advice when preparing your property. Additionally, they’ll know how to market your home and negotiate with buyers’ agents so you get the best deal. Their expertise and advice can also save you from making costly mistakes.

Managing repairs and upgrades

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To prepare Montclair real estate, a seller may get a pre-home inspection to check for any significant problems with the home. Getting an inspection before a sale helps a seller avoid any unpleasant surprises later down the road that might compromise the sale. However, a seller must adapt quickly if it reveals significant problems, like roofing or structural issues.

If sellers are more invested in a quick sale than a profitable sale, an option is to try and sell as is, pricing in accordance with the property’s issues. Depending on their severity, a seller may have no choice but to make repairs. Select which repairs are prioritized, choose the most problematic first, then plan and budget accordingly. As the homes in Montclair are newer, sellers may not have to worry about common issues in North Carolina, like roofing problems, faulty electrical wiring, and improper attic ventilation.

Incorrect pricing

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Pricing a home right can be challenging, as finding a price between too high and too low is a difficult balance. A price that’s too high can result in a property lingering on the market or generate lowball offers from buyers in the area. Although underpricing can create a quicker sale, a seller will miss out on profit they can use towards the seller's costs, paying off a mortgage, or another home purchase.

To price correctly, an agent will make a comparative market analysis, comparing the prices of similar homes in the area. Currently, homes in the triangle region have a median sales price of $394,950. However, an agent will know how to factor in your property’s specifics like its location, upgrades and renovation, and size.

Being too emotionally attached

It’s natural for sellers listing Montclair homes to be emotionally attached to their homes, although not being ready to let go of a property can cause problems. A strong connection with a home can lead to overpricing the property, which can cause an unsuccessful sale. Not being emotionally ready can also lead to sellers missing out on good offers or making hasty decisions that they regret later. Before selling, an individual should ensure they’re ready to part with a property and location, then be open to considering any interested buyer.

Choosing the wrong offer

When buyers start making offers on your property, it can be tempting to select the highest-priced option. However, several other aspects of an offer might make it more or less advantageous. Although cash offers tend to be lower, they also come with fewer complications, leading to a quick home sale. A traditionally funded offer that’s lower priced may also beat out a higher priced offer if the buyer has a better financial history, proof of funds, and asks for fewer contingencies. Consider your needs as a seller, as well as a buyer’s qualifications, before deciding.

Ready to sell your home?

Selling a home can be complicated, and when obstacles arise, it’s best to be prepared and know how to act beforehand. Doing so can save you from mistakes that cost you the home’s sale. When you’re ready to sell your home in Montclair, contact local expert Trish Sweeney-Lowe to guide you through the process.

*Header photo courtesy of Shutterstock

Work With Us

At The Trish Lowe Group, we've helped our valued clients buy and sell their single most important purchase – their homes – across Chapel Hill and the Greater Triangle region. We have a proven track record of over $140 million in gross sales of real estate at The Preserve at Jordan Lake, Montclair, and Briar Chapel. We would be honored to work with you on your own real estate journey.