Greenwich Village offers residents the perfect mix of a residential community with the benefits of urban living. If you are planning on selling a home in Greenwich Village, here are some recommendations to help make the process a successful one without all the stress.
Preparing your house to sell
When preparing your house to sell, you want to come up with an accurate, realistic list price and perform upgrades that will appeal to prospective buyers. You can also effectively stage your home to create an inviting and neutral space that buyers feel connected to. These will entice them to make higher offers.
Team up with an expert agent
The real estate agent you hire should demonstrate clear communication consistent with your preferences and commit to timely responses. They should have extensive experience with sales in your area, including expertise with luxury homes. Also, you can expect them to be well aware of the trends in the real estate market. They should outline a professional marketing campaign to get your home seen and sold.
Determine the value of your property
Complete initial research by looking for homes in your neighborhood with similar square footage and amenities. Your real estate agent will provide you with a professional comparative market analysis (CMA) for even better results. This step is critical to listing your home at the best price. Remember that you don’t necessarily want to list your home at the highest price; if pricing is inconsistent with nearby homes, you could be turning away potential buyers.
Improve your home’s value with upgrades and renovations
Most experts agree you should not take on expensive remodeling projects unless they are deemed necessary. There are a few easy upgrades to improve your home’s value, including checking the exterior for ways to enhance curb appeal. Look at paint colors, too, as it may be a great idea to freshen up with a universally beautiful shade. Neutrals are popular, so consider repainting to create a more appealing spare for more buyers. Your agent can provide guidance as to which renovations or upgrades will be worth the return on investment in the end.
Getting the timing right
In a seller’s market, homes do not stay listed for long. Sellers often receive offers at or above the listing price, with buyers requesting few concessions. In a buyer’s market, however, homes stay listed for much longer. Buyers may request concessions depending on whether updates are needed, and they will often offer less than the listed value. Talk with your agent about the current market conditions when you plan to sell to ensure you are entering the housing scene at an advantageous time.
Staging your home and taking photos
Prepare your home to sell by decluttering and depersonalizing each space so that your buyers can picture themselves living there. Thoughtful staging shows buyers how spaces are defined and can be used; the goal is to create a functional, neutral space that buyers will feel a connection with. Professional photography is also a must. It provides a positive first impression, whether buyers view your home online, in social media, or in a print mailer.
Selling your home
Once your home is prepared for the listing process, follow along for the next steps to successfully selling a home in Greenwich Village.
Listing on the MLS
The Multiple Listing System (MLS) is the database of homes for sale accessed by real estate agents. Your agent will list your home on MLS to ensure your listing reaches as many eyes as possible.
Open houses and virtual tours
Talk with your agent about the benefits of hosting an open house, as this could be a great way to showcase it to potential buyers. Another popular method, without the actual foot traffic, is to provide a high-quality virtual tour in your online listing. This allows searchers from all over the world to see your home, opening up the pool of potential buyers significantly.
Cash vs. traditional offers
All-cash offers are a great benefit to sellers, as they tend to expedite the overall process with lower closing costs. Buyers coming in with cash, however, may offer below the listing price and should be vetted for their proof of ability to pay. Conventional loan offers are also common, along with jumbo loans in the luxury market.
Appraisal
You may want to consider a pre-listing appraisal from an independent party. This will give you a sense of the fair market value of your home in order to determine the best listing price range.
Escrow
Plan on an escrow account to be created as you move forward. Escrow protects buyers and sellers, as a neutral third party holds the funds until circumstances have been met. This protects the seller if a buyer renegs on the agreement without cause, as you would typically receive the earnest money down payment.
Closing costs
Closing costs are usually higher for sellers, as they cover both listing and buyer agent’s commissions. This can be 8-10% of the total sales price and can be paid outright or taken directly out of the sale.
Frequently asked questions about selling a home
If you’re ready to move forward, here are some commonly asked questions. Before you know it, you will be selling your home in Greenwich Village with confidence.
How can I sell faster and for higher offers?
Hiring an experienced real estate agent who outlines a clear, professional marketing campaign designed to reach as many potential buyers as possible will help sell your home faster. Performing necessary upgrades and repairs, as well as utilizing effective staging tactics, will help you home appeal to buyers more easily. This will help ensure you receive top-dollar offers as well.
Is it a good time to sell?
Talk with your agent about the specific trends of the Greenwich Village real estate market so that you can enter the housing market at the best time. Demand for homes in Greenwich Village remains consistently high, and there is currently a lower-than-average inventory available for buyers.
Selling a home in Greenwich Village requires thoughtful preparation and planning to ensure success. If you are ready to list, contact an agent with the dedication, knowledge, and expertise you deserve. The Jonathan Stein Team was named the “Top Downtown Team of the Year” in 2021 and is committed to becoming your trusted advisors in real estate. Contact The Jonathan Stein Team | Douglas Elliman Real Estate to get started with the process today.
*Header photo courtesy of Shutterstock