There is no question that houses are taking longer to sell in today’s market. As a seller, this slow-down means there is more competition for a limited pool of potential buyers. Consider the following five tips to place your home on the fast track to sale:
1. Price It Right
If your home is priced too high, interested buyers may never even tour your listing. The longer the property is on the market, the fewer the prospects. The first 90 days are critical.
Deciding the value of a home isn’t an exact science. Yet, there is data to help you determine a reasonable asking price. Try to find the true market value based on facts and not emotion, don’t let outside factors such as what you need to move and buy your next home or what you’ve spent in the home enter into the equation. Use facts and comparable market analysis, which will include recent home sale transactions as well as homes currently on the market. From your analysis, especially in this difficult environment for home sales, price your home conservatively, give it a competitive edge.
2. Make Your Home Irresistible
Unless they are looking for a fixer-upper, most homesellers are more likely to make a bid on a home that they can enjoy immediately. Therefore, you need to create an environment the buyer can’t resist. In other words, do everything you can to make the home attractive, charming, cozy, inviting, comfortable and exciting that a buyer will want to buy that lifestyle for himself.
Evaluate the home from a buyer’s point of view. An experienced real estate professional will be able to offer an objective view and will also know what buyers are asking for. Get your home in tip-top shape by making repairs and cosmetic improvements, and removing clutter. This may mean investing in a few upgrades to modernize your home’s look such as installing newer carpet and light fixtures and painting the walls a neutral shade. Would you buy your home now at the price you are asking?
3. Create Traffic
If you want buyers to see your home, you must first find the buyers. Work with your real estate professional to design a marketing plan that is flexible and capitalizes on your property’s most desirable features. Your strategy should include ways to reach buyers online and offline – such as word of mouth, the internet, yard signs, open houses and so on.
4. Go With A Professional
Selling a home is more than just putting a sign in your yard and having a listing on the internet. In a competitive market, you don’t really want to take the chance of making novice mistakes that can slow the selling of your home. By hiring a real estate professional, you get the benefit of an experienced marketer and negotiator who is familiar with real estate issues in your community. A real estate professional can offer worthy advice on pricing and staging your home based on their vast experience.
Plus, there’s the added value of the peer-to-peer networking among real estate professionals, which can bring buyers and sellers together – sometimes even before the property goes on the market.
5. Offer Incentives
Offering incentives can be just the impetus a potential buyer needs to select your property over others. You may want to consider offering a professional home inspection, home warranty, or allowance for paint or carpet.
Don’t be discouraged if there are competing homes for sale in your neighborhood. With just a few smart moves, you can turn a buyers’ market in your favor.
