Selling your property in a down market is possible. Is the real estate market in your area full of doom and gloom and experiencing an overstock of inventory? While that makes selling your home a challenge, it doesn’t make it impossible. Check out the following tips and get a head start on the competition.
Tip 1. Price your property right from the start.
There is an old school strategy of pricing high and slowly lowering price or selling at 90% of the selling price. Not only does this slow down the sales cycle, but you may miss some potential buyers who will not look at the property if it is out of their price range (and it never was out of their budget). Price it to sell from the beginning.
Tip 2. Make it move in ready.
We say this all the time but… paint, stage, prep, improve your property. This can include caulking, plastering, adding potted plants, making sure the windows are spotless, the blinds are clean, and putting clutter in storage. Make sure closets are organized and everything is tidy. And if you have intense colors on your walls, paint over them.
Tip 3. Be flexible.
Be flexible with your potential buyers’ requests. Be willing to negotiate and offer extras. Someone scoffing at the wall color (what you didn’t heed our advice in tip2), offer to have it painted to their specifications. Listen to potential buyers’ misgivings about your home and adjust accordingly, immediately and pleasantly. You have to take your emotions out of your house when it is up for sale.
Tip 4. Embrace technology.
Why advertise in the newspaper with no photos in the internet age? You should have your listing on the internet and social media sites. You tube, facebook, listaproperty.com com. Have an ad in the paper and direct people to the listing on listaproperty so they can see photos. Times have changed and people begin their real estate search online. If you are not online you are missing a huge opportunity. Technologically challenged? Real estate is easy to put online and we are happy to assist.
Tip 5. Be smart.
Someone or something seems a bit shady? Trust your gut and have an attorney look over the matter. This expense is well worth it.
Tip 6. Share what you love about your home.
You bought it in the first place. Share what you love about your home, your neighbors, your area of town, favorite restaurants, etc. Tell a story about the house. Be sincere and enthusiastic. And honest.
While these tips might seem obvious they are worth pointing out. Happy selling!