When the market changes, home sellers can be impacted. Transactions in progress can be stalled or canceled, and the confidence of both buyers and sellers can be rattled.

Is the right answer to stop all activity? It’s important to act out of a plan, not out of fear. Home sellers can take these five steps to keep on track.

1. Evaluate your motivation

Get back in touch with why you first initiated your plan. Write down the reasons you wanted to sell, and evaluate if any have changed. You might even have new reasons to sell! If possible, separate the stress of the uncertain environment from the stress of your situation. You don’t want to miss out on your next big move because of uncertainty that doesn’t actually affect you, your plans, or your dreams.

Ask yourself these questions:

• What will improve or change in your life because of this sale?
• What is the next domino that can happen once you have completed this move?
• Has anything changed that puts your goal at risk?

2. Check in with your plan

Once you have confirmed your motivation to move forward, connect with your plan. Check if anything has changed with your ability to list the property. Some of the mechanics around showings, open houses, and closings might be affected. If selling the house is part one of a two-part process (and it usually is!), is part two still likely to move forward as well?

Ask yourself these questions:

• Do you have the next steps lined out?
• Will you be buying another property, and, if so, how is that property’s market doing? 

3. Ensure buyers are still ready to move forward

In a shifting market, a number of factors can affect whether buyers can move forward. Declining interest rates can allow some buyers to be approved for larger homes as their purchasing power increases. However, in these situations, there are also buyers who see their purchasing power diminish due to unanticipated financial changes. 

Ask your agent:

• What is our approach to vetting buyers?
• How will we react when things change?

4. Consider contingencies

In a shifting market, one week can differ greatly from the next. Buyers can get cold feet—or face legitimate issues. Work with your agent to tell the difference between a legitimate issue a buyer is facing and cold feet generated by an uncertain economy. Some buyer agents will try and insert clauses or addendums that protect their buyers. Sometimes, these will be legitimate. Other times, it’s an enthusiastic buyer agent looking to get a little bit of leverage in a strange situation. Ask your agent to be vigilant about whether a clause is legitimate, and be careful about getting locked into a deal with no leverage.

Ask your agent:

• What special clauses is the buyer asking for?
• What leverage do we have?

5. Investigate cash offers

In uncertain times, cash is king. There are no contingencies, and closings can happen quickly. Cash buyers such as Keller Offers can offer speed and certainty when other buyers might struggle. Work with a Certified Agent to understand your options.

Ask your agent:

• Is our house a good fit for a cash buyer?
• What option might be the best for us?

Conclusion

In an uncertain market, focus on controlling what you can. Work closely with your agent to uncover surprises, revise your plan as needed, and move forward with confidence!