It's no secret that the days of houses selling like ice cream are over! After real estate appreciated at jaw-dropping rates during the first half of the decade, home prices and sales tallies have dropped in recent months-tilting market dynamics to favor buyers over sellers. That doesn't mean your house won't sell, just that the playing field has changed. So here are "five ideas of value" to help you get a timely sale at a fair price in today's reshuffling housing market.
1. Do those repairs. While in years past it may have been enough just to cut the grass and retouch the paint, anyone looking to sell in today's market will have to take care of those more onerous repair projects as well. So fix the leaky roof, call the plumber, and rebuild the staircase. The modest repairs should be done and done with professional results!
2. Price to the market. Unfortunate though it may be for sellers, demand for real estate has softened. That means, in many cases, sellers will have to lower their expectations below what the house might have had just a couple of years back. The best advice that real estate agents can give home owners is, If you aren't prepared to sell at fair market value, then you probably ought to wait.
By setting an asking price above market value, homeowners risk driving potential buyers away. People think, 'Well, I'll list at a higher price, and people will come along and make a [lower] offer. That is not really happening in this market," "If people perceive your property is being overpriced", they will just move on to the next. Lowering the price may be difficult, but if you want to sell your home in today's market, grit your teeth and do it. There is a buyer for every property if the pricing is right!
3. Know your agent's Bio: Finding an agent with experience selling homes in your market will help ensure correct pricing, however when deciding on a real estate agent, find out how long the agent has been in a "successful sales capacity" before entering into the real estate profession. That is the experience one needs in a slower market culminated with a breadth and depth of contracts and real estate knowledge!
4. Flexibility. Ensuring that your house is ready to show at all times will make it easier for prospective buyers to see it. So make your bed each morning and clean up the dishes before heading off to work, just in case someone may want to come by at the last minute. In addition, homeowners should be willing to vacate on Saturday and Sunday afternoons if potential buyers are free to see the property. "Last minute showings very important," Things like limiting the hours of showing or requiring an appointment because you have a pet are reasons for real estate agents to bypass your house when they go to show."
5. Count to ten: If a potential buyer comes in with an offer you consider too low, resist the urge to turn up your nose! After all, it takes a considerable amount of paperwork to make a formal offer, so even a low bid signals interest. "You need to respond-even though you are indignant and insulted. You have nothing to lose by countering, everything to lose by rejecting it out of hand."