Selling A Home In Today’s Real Estate Market
Today’s real estate market is one of the toughest that we’ve seen in decades. At least it is for sellers. We are currently experiencing what is known as a buyer’s market. Some locations are experience less of a real estate downturn than others but the current slump does appear to be across the board. So, what can you do to make your house more attractive to buyers in the current market?
Make them an Offer they Can’t Refuse
Buyers love bonuses. Offer a nice television or a home owner’s warranty to boost the odds of a sale. Offer to pay closing costs. There are all kinds of things you can throw in to sweeten the pot and entice potential buyers to wheel and deal. Be creative and see what other sellers are offering. The one thing you want to do is offer something better than the competition is offering at the moment.
Consider an Auction
The current trend is that homes will remain on the market for at least 9 months. If you aren’t interested or can’t afford to wait that long to sell your home. You might be interested in auctioning your home. This is something you will want to carefully consider since it is a risky maneuver but if you want your house sold right now, this could very well be an option.
Price it to Sell
While some Realtors will encourage you to start high and negotiate a better price it may be better, with the market as tight as it is, to start out with a very competitive price and offer incentives (mentioned above) to buyers who make a full price offer. Whatever you do, you can’t price your house what it went for 5 years ago and expect it to sell for that price today. It isn’t going to happen when the market is saturated with homes that sellers are desperate to get out of. You need to understand the dynamics of supply and demand and not expect to make a huge profit from the deal.
Make the Package a Little More Attractive
This is a market that is filled with attractive homes in attractive neighborhoods. You need to make sure that the house you are selling can stand up to the competition. Clean out the gutters, touch up the landscaping, clean the cobwebs from the basement corners. Making small cosmetic repairs can have a huge impact on the value of your home to potential buyers. It can even change the way you view your home making it more attractive to you. Curb appeal though is an absolute necessity. No one is going to buy if you can’t entice them to take a peak inside.
While this is not by any means an ideal time to sell your home it is far from impossible to sell a home in the current market. Keep the things mentioned above in mind and have a positive attitude. You’ll be amazed how far these things will take your home when it is time to sell.