In a sluggish real
estate market, what do you do when you need to sell? You want top dollar,
you may also need to sell in a hurry -- especially if moving day is right around
the corner. In a tight housing
market, remember that you are competing with all of the other homes for sale in
your neighborhood. The key to success is to make your home and the deal itself
more attractive than what the competition is offering without giving away too
much. If you find yourself
having to sell into a slow market, here are some tips to help you make your home
more attractive and sweeten the deal to generate more interest in your home:
· Price it to
the market, don't be greedy. Most sellers tend to set the price too high,
thinking their home is worth more than it really is. Check the sales prices of
comparable homes that recently sold and the asking prices of comparable homes
that are currently for sale in your neighborhood.
- Use a seasoned
Realtor. Your Realtor has already experienced price wars in the housing market.
According to the National Association of Realtors®, a home sells on average for
16-percent more when the seller uses as certified Realtor.
- Take care of
all repairs so lookers won't have an excuse not to buy. Consider updating
kitchen, replacing worn carpets and neutralizing the walls throughout your
home.
- Have your home
professionally staged. A professional stager can transform an empty or overly
cluttered house into a warm and welcoming home.
- Don't move out
before it sells, or if you have to move out, make sure you leave the home
staged, so it looks lived-in. Vacant houses feel more like uninhabited caves
than homes.
- Be willing to
pay some closing costs for the purchaser. A slow market is usually that
way due to a slow economy. Buyers are strapped for cash and may need you to help
in some way with the financing.
- Give your
Realtor copies of all improvements to the home and any guarantees for anything
like a new roof, furnace, or hot water tank.
- Keep your home
in ready-to-show condition at all times. Do not require a 24-hour
notice.
- Focus on curb
appeal and making a good first impression. You do not get a second chance to
make a good first impression.
- Be open to
negotiating on things like leaving furniture or appliances behind.
You can successfully
sell a home in a declining market, and even profit from the sale, if you set
realistic goals and work a little harder at it than your competitors so that
your home stands out and will be “the next home sold”.
Written
by Ralph Roberts
