Selling In A Buyers Market

Selling Your Home in a Buyer’s Market 

Selling your home when the market is down presents challenges but not barriers. The key to success in this environment is preparation and the right realtor. And, with a real estate rebound not expected until 2009, the following are some important tips to help guide you through. 

First, if you are going to sell now it is important to keep your mind in the present – it’s a buyer’s market, many homes are available for sale and sellers are motivated.  

The most important factors in selling your home are location, price and condition. Price and condition are under your control so focus your attention on these areas. Here’s a sampling of advice I give to sellers: 

* Price your home right. We’ll set the price at what you can get for your home in this market. This is based on a competitive market analysis that looks at comparable properties in your neighborhood over the past several months. The price will not be based on what you paid for the house or what you think your home is worth.) Pricing your home too high will push potential buyers away and lengthen the amount of time your home is on the market. Fresh listings often get the best attention. 

* Think of every showing as a “first date.” Make your home as appealing as possible. Your home needs to maximize its first impression. Buyers often know a house is right for them before they ever step inside. Increase your curb appeal by cleaning up the yard and entrances, trim bushes and trees, plant some seasonal flowers and keep the grass trimmed and tidy.  

Inside the house you’ll need to do a thorough cleaning, de-cluttering and organizing. Freshen paint and make wall/ceiling repairs as needed. Fix any small things you’ve learned to live with but others may not. (We’ll go through this step by step for your home.) Rearrange furniture to create openness in the floor plan of each room. 

When it’s time for an open house add the small touches that create a warm atmosphere to your home -- candles, background music, fresh flowers, etc. 

Read more about staging your home
Staging Your Home For A Sale
Getting Ready
Selling a House 

* Consider a home inspection before you put your home on the market. If you own an older home this may be critical to reduce buyer’s perceived risks. You can use the inspection to make the necessary improvements to your home before potential buyers see the property.  

* Consider offering incentives for buyers. For example, offer to pay a "seller contribution" toward the buyer’s closing costs, cover moving expenses, pay six months of a HOA or condo maintenance fee, or offer an extended home warranty. All of these incentives may motivate a buyer to select your home vs. similar properties. 

* Be patient, be flexible and be realistic. Successful homes sales are a combination of careful planning, strategic marketing and negotiation. As one of Long & Foster’s top 100 realtors out of a pool of 10,000 agents, I know the market and how to sell in any condition! 

Contact me now to learn how you can successfully sell your home!