If you’ve been thinking about selling your home in Santa Fe, New Mexico, now is one of the best times to do it, according to Amanda Godlove Erwin, one of the top-producing brokers at Barker Realty. However, just because you put your home on the market doesn’t necessarily mean it will sell for top dollar. Getting the highest asking price is often the result of having realistic expectations, finding the right broker to sell your property and implementing all of their advice. Whether you are ready to begin the process or are simply thinking about selling your home in Santa Fe, here are some key points to consider.
A semi-retired broker may not be up-to-date on the latest market dynamics.
The Broker Who Sold You Your Home May Not Necessarily Be The Right Person To Sell It Currently
“Many long-time Santa Fe-ans make the mistake of only contacting the broker that sold them the home,” Erwin says. “If that broker is semi-retired, they may not be in step with the faster pace, newer marketing techniques, multiple offer vetting strategies and 24/7 availability needed in the Santa Fe market at present.”
So, don’t be afraid to reach out to multiple brokers or ask several people within your social sphere for a referral.
Ready to start your search? Discussing goals and needs with a qualifying broker is a good jumping-off point.
Take The Time To Get Matched With A Broker Who Can Meet Your Needs
Alternatively, Erwin suggests potential sellers start by discussing their needs with the qualifying broker (the person in charge) at one of the top brokerages serving the area. “Discuss your goals and timelines and ask them to recommend brokers that might be a good fit for you. Knowing that the qualifying broker’s recommendations will be highly competent allows you to focus your interviews on chemistry and your personal connection to the candidates.”
After getting a few names and having a few initial calls, it is time to consult the reviews on sites such as Zillow and Google to further narrow down your choices. Erwin adds: “You can also see the homes they have helped their clients buy and sell.”
Don’t expect to find wiggle-room on price. Most properties in Santa Fe are selling for at or above the asking price.
Understand The Current Market
With such limited inventory, many buyers will end up offering way over the asking price – even as much as $25,000 to $100,000. However, this can create a serious case of remorse during the inspection and due diligence stages of a sale. “Sellers should prepare themselves for buyer’s attempts to extend inspection periods and renegotiate the price right up to the moment of closing,” Erwin says. “I try to get backup offers in place whenever possible and recommend that my sellers maintain a willingness to ‘walk away’ if buyers become unreasonable in their demands.”
Pre-listing inspections offer assurance to buyers.
Consider A Pre-Listing Inspection
Erwin is a proponent of pre-listing inspections and suggests them as part of her marketing package for new listings. “By assuring buyers upfront that the home is in good condition, you increase the likelihood of getting multiple offers in a shorter period of time,” she says. “Pre-inspections also help sellers deal with any repair or maintenance issues upfront. Out-of-town buyers are especially appreciative of the transparency that pre-inspections add to the process.”
A good broker will communicate with you and address your concerns as well as those of any other brokers involved in the transaction.
Staging Isn’t A Necessary Part Of Every Marketing Plan
While many people believe they will need to stage their home prior to putting it on the market, Erwin doesn’t think it is necessary for every home. “Santa Fe is famous for its unique style and has a high percentage of beautifully appointed homes decorated in this way. This results in less of a gap between what buyers expect and what they see.”
However, professional staging may be essential for vacant, unfurnished homes because today’s Internet-driven market is extremely photo-dependent.
A wonderful local community and rich culture continue attract thousands of new residents to Santa Fe each year.
Make Sure Your Broker Is Available For You
While it’s pretty commonplace for brokers, especially the most successful ones, to have teams, the person you hired should still be there for most showings because they know your property better than a team member or assistant will.
Your broker should also be communicating with you and addressing your concerns as well as those of any other brokers involved in the transaction. Your broker should be able to give “quick responses to you and others, seven days a week,” Erwin says.
If your broker isn’t keeping you informed, it may be a sign that you are working with the wrong person. “Currently, in the Santa Fe market, you should expect to be in conversation with your listing broker daily once the listing goes live,” Erwin says. If there isn’t regular communication, it may be best to have a discussion about expectations and perhaps explore other options.
Ready to make a move? Click here to learn more about the services provided by Barker Realty, Santa Fe’s top real estate brokerage.
