Six Tips for Selling a House in a Cooling Market It is no secret that the days of homes selling at a frantic, multiple offer pace are over. Following years of rapid appreciation in the first part of the decade, home prices and sales have cooled in recent months. But that doesn’t mean your house won’t sell, simply because the playing field has changed. Today, it is simply not enough to stick a “For Sale” sign in your front yard and watch buyers come running; now, it takes a little more effort, careful planning and compromise on the part of home sellers. Here are six tips to help you get the best possible price for your home in today’s housing market: Make Those Repairs. While in years past it may have been enough to just cut the grass and retouch the paint, anyone looking to sell in today’s market will have to take care of those more arduous repair projects as well. Buyers are looking for value and anything you can do to add value to your home will help make it a more attractive purchase. Price to the Market. Buyers in today’s market are more cautious and looking for homes that are priced reasonably. That means, in many cases, sellers who don’t price their home right from the beginning will have to bring down their price later on. And be prepared – the final purchase price will very likely be below what the house might have fetched a couple of years ago. If you are not prepared to sell at fair market value, then you should probably wait. By setting an asking price above market value, homeowners risk driving potential buyers away. If people perceive your property as being overpriced, they will move on to the next and you will lose out on potential buyers. Select the Right Agent. Finding an agent with experience successfully selling homes in your market will help ensure correct pricing. Bottom line: work with an agent who knows and understands the intricacies of your market. Be Flexible. 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 wants to come later that day. In addition, sellers should plan weekend activities during open houses and in the event that a potential buyer wants to see the property. Consider All Offers. If a potential buyer comes in with an offer you consider too low, resist the urge to turn it away. After all, it takes a considerable amount of paperwork to make a formal offer, so even a low bid signals interest. Even if you are insulted, make a serious counter offer. You have nothing to lose by countering and everything to lose by rejecting it right away. Make Sure Your Home has Internet Presence. According to the National Association of Realtors®, 84% of people use the Internet as an important part of their home buying and selection process. When choosing a Realtor, make sure that their marketing strategy includes advertising your home on the leading real estate websites such as Realtor.com, Google.com and Yahoo.com – where buyers are looking for their new home – in order to expose your home to as many potential buyers as possible. I can provide you with up-to-date statistics on sales activity and the current market trends in your neighborhood in order to enable you to make an informed decision about your property and what is best for you. Call today for more information:
JOANNA SMITH Coldwell Banker Office 123.456.789 (Direct) 123.456.789 (Fax) joanna.smith@AZmoves.com www.AZmoves.com/joanna.smith
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Published on Mar 26, 2011