3 Things You Must Absolutely Know Before Selling Your Utah Home in 2023

What sellers need to hear before they list their homes in this market.

Are you thinking about selling your home in Utah? We are here today to share the top three things you need to know to get your home sold: 

1. You have options. There are more choices than just FSBO (for sale by owner) and listing on the MLS. Now there are institutional lenders and buyers like Opendoor or Offerpad and many platforms for cash offers. You will sell your home for more money by listing on the MLS, but there are situations when it might make sense to use something else. We can show you all your options and how much profit they’ll help you gain. 

“Work with someone who knows how to price your home correctly.”

2. Interest rates have changed the game. Rates have been incredibly low the last few years, but now they’ve gone from 3% to 6%, which eliminated a lot of buyers. However, home values went up by 18% last year and are predicted to go up by 10% this year. Home values have risen, but so has the cost of borrowing money, so you need to know that you’re going to have less demand for your home. 

3. You need to price your home according to the market. If there are fewer buyers but still inventory, it’s a great time for buyers and sellers. Buyers finally have options if they can afford them. This means you have to work harder to make sure your home sells, which means pricing your home accordingly. Work with someone who knows how to price your home based on your neighborhood and how long homes take to sell. 

If you’re thinking about selling, reach out to us. We’d love to help you make an educated decision on what works best for you and your situation, so call or email us anytime. We look forward to hearing from you.