You’ve seen the stories on the news and read the articles in the newspaper. The cyclical real estate market has taken a turn and conditions in most parts of the country now favor the buyer. Often referred to as a “buyer’s market,” this means that the inventory of homes for sale exceeds the consumer demand. As a result, buyers can be more selective and more conservative with their offers. But that does not mean all hope is lost if you need or want to sell your home now.
Use these three steps to help your home go from “For Sale” to “Sold.”
1. Price It – The number one thing you can do to help your home sell in a buyer’s market is to price it right. A knowledgeable buyer and / or an experienced real estate agent will know value when they see it. If you price the property too high, you are unlikely to receive offers since buyers know there are plenty of properties to choose from. Also, if you are forced to reduce the price bit by bit, buyers will not always revisit an old listing, especially if new offerings are continually being added to the MLS.
2. Make it Show – Make your property stand out from the rest. Do the required prep work, both inside and out, to give it the curb appeal and charm that will pique buyer interest. Follow the advice of your Realtor® to help the home “show well.” Clean the clutter. Shampoo the carpets. Refinish the floors. Paint the walls. In a buyer’s market you have to do everything you can to make your property rise above the rest.
3. Choose Wisely – Hire a real estate professional who has the experience and network to get your home sold. In a buyer’s market it is critical to have a professional who is working non-stop to set your home apart and bring in potential buyers. A Realtor® will help you set the right price, tell you how to stage the home, and guide you through negotiations. Plus, in these selling condit ions, knowledge about the local marketplace is invaluable.Do you have any questions or concerns about buying or selling in today's real estate market?