Bellevue, with its stunning views, vibrant economy, and great amenities, is a prime location to call home. The city has consistently garnered praise for its desirable atmosphere and exceptional livability. According to Niche.com
, Bellevue has an overall score of A+ for livability. Selling your home in such a desirable location can prove to be very profitable, however it requires a successful strategy and marketing plan. This guide aims to provide you with a roadmap that can help to ensure your selling success.
Achieving success in the sale of your home
There can be many reasons for selling your Bellevue home
, such as upsizing, downsizing, job relocation, marriage or divorce. Knowing how to successfully negotiate the selling process requires the assistance of an experienced real estate professional. Achieving optimal success, also requires a proven marketing strategy.
The benefits of an experienced real estate professional
Nearly any real estate agent can sell your property. However, achieving optimal reception and offers from buyers, requires an impactful, proven marketing strategy. Many homeowners make the mistake of choosing a less experienced broker or a discount agent offering minimal effort or experience. Some homeowners even attempt to “save money” by selling their home themselves. Making those kinds of costly choices often results in leaving substantial equity on the table by not achieving impactful marketing and ultimately getting less than an optimal sales price. If your goal is to obtain the highest price and secure maximum equity for your Bellevue home, working with an experienced real estate professional such as Mary Pong
can ensure your success. Why try to reinvent the wheel? You too can benefit from her more than two decades of award winning real estate knowledge and proven marketing strategies!
Choosing home improvements
Due to a lack of inventory, desirable schools, strong economy and quality of life, Bellevue homes are always in demand. However, enhancing certain areas of your home or landscaping can often increase its value and appeal even more…but be aware that not all upgrades are equal. It's essential to consult a knowledgeable real estate professional who can advise you as to the kind of specific improvements that will offer maximum marketing impact and financial returns. The goal of a successful marketing plan is to create a strong emotional bond with potential buyers. Often simple things like fresh paint, new floor coverings or landscaping improvements can result in making your home more appealing. It’s also a good idea to consider the latest home design trends, colors and finishes to see which ones can be incorporated. Remember, sometimes less is more; decluttering and ensuring a clean, open space can often be as effective as larger renovations. If unsure where to start, Mary Pong
will offer you a free detailed consultation and current market analysis.
The listing price is crucial to success or failure
Bellevue homes are often a great investment, however overpricing a home is a common and always costly mistake. There are many factors involved in correctly gauging home prices. Which Bellevue neighborhood, lot topography, age of the home, architectural style, floor plan, square footage, condition, finishes, interior design, curb appeal, school district, location within the neighborhood, road noise and other factors. Many agents lack the experience or training to accurately price homes. Homeowners are often not able to emotionally detach themselves from their home and see it through the eyes of potential buyers. For example, a homeowner may love an outdated color scheme or taste specific features that may actually be a potential turn-off to a buyer. It’s critical to price your Bellevue home correctly to capitalize on the initial interest that a new listing generates for a limited window of time in the first few weeks. You will not get a second chance or a “do-over,” if you have priced your home incorrectly during that initial golden marketing window. Collaborating with an experienced broker can give you access to the latest sales data and an understanding of the market pulse, as well as invaluable sales advice.
Bellevue Real Estate Market Trends
- 1.1-month housing supply in June 2023, down from 2 months in March 2023.
- Bellevue's population grew 0.6% year over year as of June 2023.
- Current average days-on-market for Bellevue homes is seven days.
- Home prices in the Seattle, Tacoma, and Bellevue markets are down 1.8% compared with one year ago.
- Median price in the area is $800,000, nearly double the national median.
Predictions for the Bellevue real estate market for the upcoming months:
- The Seattle and Bellevue housing markets are perceived as stable and strong.
- Bellevue is expected to always be in high demand, with prices predicted to rise in the next 6 to 18 months.
Showcasing your property with HD professional imagery
In today’s digital age, the first impression of your home will almost certainly be through photos online. So the imagery of your home is crucial in visually creating an emotional bond with prospective buyers and to stand out in comparison to your competition. HD professional images can accentuate your home's assets, focus on its unique design features and finishes, and create a desire for a buyer to want to tour it. However, not all real estate photographers or stagers are created equal! Mary Pong
only uses world-class architectural photographers and the most talented interior design stagers who have proven portfolios. Mary understands how critically important it is to not cut corners on marketing costs. So Mary offers to pay for all professional photography for her clientele and often the staging for her sellers, as well. Some properties also benefit from creating virtual tours or 3D walkthroughs, which offer potential buyers an immersive experience and a clearer sense of space and layout.
The art of negotiation
The negotiation skills of your agent will be crucial to your success. Many consumers don’t realize that negotiation skills vary widely amongst brokers. Successful negotiation isn’t about being argumentative or drawing a line in the sand with the buyers or their representative. Negotiation skills require excellent in depth communication. Experienced brokers such as Mary Pong
have many years of establishing a trust rapport and honest reputation with hundreds of local agents over the years. When offers come in for your Bellevue real estate, Mary will consider many factors besides just the price. She will protect her sellers by doing detailed homework on the prospective buyers profile. Their level of commitment to the property, financial stability, contingencies and many other factors can often be even more important than price. The last thing a seller wants to do is choose the wrong offer and then have the buyer get cold feet and back out leaving a black marketing cloud on the property.
Understanding financial outcomes and potential tax impacts
Selling your home can come with various financial implications, including closing costs and potential tax liabilities. It's essential to be aware of these financial issues to prevent any surprises. Consulting with a tax professional can provide clarity on capital gains tax and any possible exemptions you might qualify for, such as a 1031 exchange. Not all brokers have experience in assisting their clients in 1031 transactions. Mary Pong has a team of professionals that will assist you in deferring capital gains using a 1031 exchange, if you qualify. She is also completely transparent in helping you understand the breakdown of closing costs, commissions, title insurance, etc., which will give you a clear picture of your net profit.
Preparing documents and finalizing the deal
Once you have reached mutual acceptance with the buyer for your Bellevue home, Mary and her team will assist in walking you through all the final disclosures, requirements, timelines and final closing documents. Being organized and informed can make this final step a breeze, culminating in the successful sale of your Bellevue home.
In summary, while Bellevue is a prime real estate location, achieving a smooth and profitable sale requires careful planning, informed decisions, and the guidance of an experienced professional for success. But with the right approach and resources, selling your Bellevue home can enable you to pursue other goals, as well as possibly realizing a life changing windfall of profit.
About Mary Pong
Mary Pong is renowned for her award-winning expertise and commitment to her clientele. Please read some of the testimonials
of her satisfied clientele. If you're looking to buy or sell a home or have any questions about the Bellevue, Washington real estate market, contact Mary Pong
today for a free consultation!
*Header photo courtesy of Mary Pong