How to sell your home in Charlotte’s wild real estate market right now

According to Trent Corbin, Founder/Realtor® at the Redbud Group, it’s a great time to be a seller.

If someone is thinking about selling, “they will get a better price than they ever expected and they will also help us address the growing demand we have from buyers right now,” says Corbin. “We’ve seen traditional home sales continue to be seamless in this market, even amid a global pandemic.”

When I put my condo on the market in February 2021 (with the Redbud Group), I expected that showings would slowly trickle in and it would be a few months before I accepted an offer.

• 10 minutes later, I had my first showing. I was under contract within 2 weeks.

The demand for houses is even greater. “We have less than 3 weeks of inventory right now, and a balanced market is six months of inventory,” says Corbin. Basically, there aren’t enough houses to go around, so it’s definitely a “sellers’ market.”

But even with the promise of a quick sale at a high price, selling your house can seem daunting. Here’s what you need to know about the process.

What’s the first step towards selling your home?

Contact a real estate agent so they can get to know you, your property and your goals as a seller. An agent will then help you get the house ready to list, otherwise known as “staging” it.

Sometimes, says Corbin, they’ll hire a professional to come in and stage the house, especially if it’s empty. “You want to make your house as universally appealing as possible.”

Pro tip: if you don’t have an agent on speed dial already, you can reach out to the Redbud Group and they’ll connect you with someone who’s the right fit.

Okay, what’s next?

Best foot forward: Once your home looks its best, it’s time to bring in professional photographers and floor plan designers. If you list your home with the Redbud Group, these services are included free of charge.

• “If your resume doesn’t look good, you’ll never get to an interview. If your photos aren’t up to par, you won’t get as many showing,” says Corbin.

Quick sales: “We usually go live with our listings on a Thursday or Friday in order to generate as much activity as possible that weekend with the goal of having at least one offer in your hand by Monday morning,” says Corbin.

How should you choose between multiple offers?

Right now, it’s typical to quickly have multiple offers in hand. So how do you choose one?

Corbin says there isn’t a one-size-fits-all approach because every seller has different needs, like flexibility on closing date, for example.

But he says to be wary of super high offers that may be above the appraisal value of your home, because at the end of the day, the lender has to be able to prove the worth of their new investment, and list price can’t be too far off from that.

Due diligence money (what a buyer pays you to take your home off the market) is a good indicator of a buyer’s commitment because this money is non-refundable as soon as you accept their offer. Corbin says they’ve seen due diligence amounts skyrocket in the past few months.

What if you’re selling and buying at the same time?

Working with an experienced agent is crucial because they can “help you land both planes at the same time,” says Corbin. Whenever possible, work with the same agent on both sides of the deal, too, because it will help streamline the process.

Under the current conditions, it probably makes sense to find your next house before you list your current one. If you can, avoid making an offer contingent on selling your house and instead trust that your Realtor® will get your home closed on time.

If you’re still living in the house, Corbin recommends spending the weekend at a friend or family member’s home or even at an Airbnb the first weekend after it lists because there will be so many showings.

• Sounds like a great excuse for a staycation.

What expenses should sellers be prepared for?

Agent’s commissions are usually the biggest expense. With the Redbud Group, though, the commission covers other costs of listing your home, such as professional photos and marketing materials.

Sellers also pay prorated taxes and other fees at the closing table, says Corbin.

What should sellers in today’s crazy market be aware of?

“Pricing right still matters and pricing correctly is still the best strategy to produce the highest number of offers which always begets the highest price,” says Corbin.

“Even though it may seem daunting, we’re still writing dozens of contracts every week and we’re still getting people into the homes they need to be in,” says Corbin.

When will the market calm down?

“My crystal ball is beyond murky at this point,” joked Corbin. “But everything that we’re seeing right now indicates that demand is going to continue.”

Rising mortgage interest rates and the typical Spring influx in inventory may help a bit, but Corbin says they expect the high-demand and rising prices to continue for at least 12 months.

Why sell with the Redbud Group?

“We handpick the most experienced agents around town,” explained Corbin. Combined, the team has a wealth of knowledge and experience that’s accessible to everyone.

• “You’re not just working with one person, you’re working with a hive mind,” says Corbin.

The Redbud Group also has a network of media partnerships and preferred vendors. They only recommend professionals that they’ve personally used in their own homes, so you know the recommendations are legit.

“We know that this process can be stressful so we want to do our best to make it a great experience. This is an exciting thing to be doing so we want to make sure it’s something people remember fondly,” says Corbin.

Ready to put your house on the market? Get connected with an agent from the Redbud Group.

This content was created in partnership with the Redbud Group.