Selling In A Buyers Market!
Selling Your Home In A Buyers Market!
Be committed to selling in a buyer's market with inflated inventories, short sales, and foreclosed homes. Your home is a product in the market, think like a retailer! You are competing with other sellers for the same buyer. Forget about pricing high and think, "If I get my price I will sell". Serious buyers and their buyer’s agent know the market value of your home. If your home doesn’t sell be ready to reduce the price!
Make sure the price is right and ask your agent for recent market sales and their opinion. Research your home value at Fast Home Valuations, consider a formal appraisal and visit other competing properties with your listing agent before you list. Know your competition as the buyers know them already. Be honest and critique your home as a buyer not a seller!
Stage your home and think like a retail store trying to attract buyers to stay and buy!. Eliminate all clutter and eliminate excess garments and other items to organize all closets. Your agent has a financial investment in selling your home, heed your agent's suggestions. Polish your home like a car to make it sparkle. Buyers feel lack of sparkle means deferred maintenance.
Install a key safe. Make your home easy to show or buyers will move on to other homes that are easier to view. How do you feel when you go to the store and you are asked to come back later? You probably go to a different store.
For Sale Signs account for about 17% of the home sales. Be sure your marketing program includes a presence on the major search engines. Maximize your market exposure and use proven tactics.
Accept buyer feedback and listen to the market place. Retailers listen or soon disappear. Buyers will move on and find another home. Act fast to resolve feedback issues.
Be Flexabile and keep the home ready to show on short notice during normal hours just like a retailer. Be ready to reduce the price as price is a motivator to buyers.
Communicate with your agent frequently. Discuss the market in your area and review the new competition regularly to verify you are competing with the market or have been left behind?
Time is money when you are selling. Expenses continue while you are selling such as taxes, interest, maintenance, insurance, association fees etc. Consider how they will accumulate while a poorly priced home languishes on the market. Setting the correct listing price is extremely important since poorly priced homes languish and tend to sell at a 15% discount to the correct price.
Patience is a virtue except when selling a home. Find out the average days on market and average list price then price accordingly.
