Prepping Your Home For Sale
In recent years, sellers could skip major prep work, but today’s buyers prefer move-in-ready homes to offset higher mortgage costs.
MY ADVICE
- Focus on small upgrades like fresh paint or new flooring and address minor repairs; a little effort goes a long way.
- Declutter as much as possible. Today’s buyers prefer sparsely furnished rooms with clean surfaces.
- Consider hiring a professional staging company if your home is vacant (typically ranges $4k-$8k for 2 months).
The days of packed weekend showings and multiple offers by Monday are mostly behind us. It may take a bit longer to sell, but properly priced homes in high-demand areas like the Conejo Valley will sell.
MY ADVICE
- Make your home easy to show—flexibility is key. Consider utilizing an agent Supra lockbox for flexibility, security, and convenient showings.
- Create a positive experience that helps buyers envision their future in your home.
Pricing Your Home In 2025
Lower mortgage rates are bringing buyers back to the market which is expected to cause home prices to increase.
- Q2 CONEJO VALLEY UPDATE: Median prices ended June at $1,170,000, relatively flat over the last 12 months.
- FORECAST: The California Association of Realtors predicts a 4.6% increase in 2025, while Conejo Valley may see even higher growth.
Overall, we’ve shifted to a more balanced market, and buyers today are more cautious and have less purchasing power. While multiple still occasionally happen, pricing your home too high can quickly backfire.
MY ADVICE
- Lean conservative with your asking price – aim for the middle of the price spectrum to attract the most interest.
- Underpricing is low risk. Eager buyers will bid your home up.
- Overpricing, however, can lead to your home sitting on the market, which may require price cuts later. More time on the market often leads to a lower sales price.
If your home isn’t drawing many showings—or none at all—it could be a sign that your asking price is too high. Even in a low-competition market, your property should be attracting buyers.
MY ADVICE
- Listen to market feedback—adjust your price quickly if needed.
- In most cases, a meaningful reduction—typically at least $10K to $20K—will help generate more interest, though this can vary depending on your home and local market conditions.
Managing Offers
While some homes may still receive full-price or even multiple offers, it’s less frequent than in past years. You might also encounter lowball offers, but don’t let that discourage you.
MY ADVICE
- Today’s buyer is more cautious. Be patient and prepared for negotiations.
- Keep emotions in check and focus on securing a reasonable deal.
- Remember, losing an interested buyer during negotiations can lead to selling for less
Gone are the days when buyers waived contingencies and concessions to secure a home. Buyers now expect sellers to fix broken or safety-related items, and perks like free seller rent-backs are less common.
MY ADVICE
- Sellers in both Ventura and L.A. Counties are only required to do 3 things: strap the water heater for earthquake safety, install smoke detectors, and install carbon monoxide detectors. That’s it. Everything else is negotiable.
- However, broken items and safety concerns are considered fair game. Consider reasonable requests.
- Keep the big picture in mind—small concessions can keep the deal on track and prevent your home from going back on the market which may lead to a lower sales price.
Agent compensation has always been and remains negotiable. Key changes went into effect August 2024:
- Buyer agent compensation can no longer be advertised in the MLS. But, sellers can still offer it.
- Buyers and their agent must now sign a Buyer Representation Agreement – a legal contract outlining the services provided, obligations, and the terms of compensation.
MY ADVICE
- You will attract more buyers to see your home by offering buyer agent compensation. Over 80% of buyers work with an agent, and our goal is to appeal to as many buyers as possible.
- Help facilitate the buyers ability to purchase your property by including the compensation in the price rather that hoping the buyer has the means to pay their agent out of pocket.
- ADVANTAGE TO YOU: By offering buyer’s agent compensation upfront, you’ll attract the most qualified buyers and you’ll have a more accurate net proceeds estimate knowing what your costs will be.
