8 Things You Can Do to Sell Faster in a Buyer's Market

It can be tough to sell in a buyer's market but there are 8 things you can do to sell faster that will give you confidence when you do put your property on the market.

  1. Get an objective opinion of your home. Ask a really honest friend or hire a stager to go through your home with their "buyer's eyes" on. Write a list of all the details they see that you no longer can because you've been living with it for years. You'll be surprised what they see.  This is what you want to prevent potential buyers from seeing.
  2. Repair all the little imperfections; love is in the details. Buying a home is an emotional purchase for many people. It'll have a positive impact when they see that you love your home.
  3. Update. Two main reasons:
    1. Mortgage rates make borrowing money cheaper than taking money out of monthly cash flow toBuyer's Market fund needed updates. It may feel wrong to invest in a home you are leaving but it will help sell your home to those who don't want to do the work. Either that or lose money on price reductions to motivate buyers to take on your projects and sit on the market longer waiting for them. In this blog post, you can find out where best to invest your money if you choose to do so.
    2. Emotional appeal strongly influences a buyer's reaction to your property prompting a possible offer. Updated homes are "sexier" than ones that are tired and in need of updates.
  4. Find out what current trends are.  Getting a home ready for the market should target as many people as possible. Trends are effective but strategically in two primary ways:
    1. If you are updating your home with high priced items such as roofing shingles, flooring, tiles etc. choose classic styles and colours that stay in style year over year. For lower priced updating, such as hardware, light fixtures, faucets etc. choose trendy items that can be switched out when they become outdated but appeal to buyers tastes now.
    2. Trends play a huge factor in emotional appeal which is why home staging is highly effective in helping homes sell faster. If you have classic pieces in your home decor, add splashes of trending items and/or colours. You can find the latest decor trends in this blog piece by Macala Wright and colour trends here.
  5. Pack.  We all have a collection of things that can be considered your "wants". Those are items you can live without but don't want to get rid of. Pare down your stuff by keeping only your "needs" and items that make your house feel like home, without it feeling cluttered. This will also make moving much easier after you've sold because you'll unpack all your "needs" immediately and unpack your "wants" when you have time.seniors packing
  6. Be realistic in your pricing. Gone are the days when equity was built quickly just by owning. Unless you invested in updates and upgrades, your property may not have increased in value as much as you would like. Get professional advice. If you want to sell quickly, make sure you are priced right the first time. It's not worth the risk of your home getting stigmatized and sitting on the market even longer.
  7. Stage your home. Determine your home's target market and stage your home to appeal to them if it isn't already. You are selling a product and to sell your property faster, you'll need to make your house feel like their home, not yours. Hiring a professional home stager is a great investment and you just may earn your money back or make more.
  8. Trust the professionals you hire. Make sure you interview real estate professionals so you are working with someone you can trust then follow their advice. It's what they do, they know what works. If you're unsure, simply ask they support their opinion with documentation or reasoning.

 

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