Tips to Sell in a Buyer's Market
The experts say that it is no longer a seller's market. This doesn't mean that it will be hard to sell, but you might need to make the extra effort to get your house to move faster. By completing a few easy steps, you should be able to get your house sold in the optimal amount of time.
1. Pick a realistic price. Buyers are learning to be more cautious when it comes to investing their money in a new home. With prices leveling off a bit, they want to know that they are making a wise choice. Be practical and choose a price that reflects the current market, not the market six months ago.
Tip: It is recommended that you list your price at or below the competitive market price. (e.g. If your neighbors are asking 0,000, list your home at 5,000 to generate interest.)
2. Go the extra mile. You can attract more buyers by providing an incentive. Gone are the days when people are willing to pay more for less. Buyers are going to be more cautious and sensible about their purchase. You can make them feel like they are getting a good deal.
Tip: You can offer to pay the buyer's closing costs as a perk of the sale. Or you can be flexible with the length of escrow and willing to fix items in the home inspection report.
3. Spruce up the place. Spending a little money to improve the appearance of your house can work magic when it comes to attracting a buyer.
Tip: Fix that wobbly doorknob, plant a new flowerbed, or put on a fresh coat of paint to give your house a fresh and new appearance.
4. Clean, clean, clean. Make sure your house is always clean and pleasing to the buyer. Remember that they are most likely going to be looking in closets, opening the oven door and peeking in showers. You want to show your house in the best possible light.
Tip: Polish the hardwood floors, clean the tile grout, scrub walls, dust high shelves to provide your house with a sparkly appearance.
These are not foolproof methods for a quick sale, but they can give you a leg up on the competition. It's important to show that you are keeping the buyer in mind and that you want to provide a fair sale. That can go far in today's real estate market.
About the Author: Heather Brunson is a lead marketing writer for Allied Schools. She has a B.A. in Journalism with an emphasis on public relations. She has additional experience in technical writing.