How to sell a house in this market.
Price is the number one thing you must get correct to sell in this market. Not lets try it at this price for a month. Price your property below all your active competition. Do not say but but but my house is better! Does not matter if it is or not. What matters is making the potential buyer want to buy your property & insist on seeing your property first! Over price your home and the potential buyer may never look at it.
If you price it correctly, then you must also make sure your property has better condition than your competition. Considering you are more than likely competing against foreclosed homes, it should not be too hard to beat them as far as condition. But what about the homes that are not foreclosed?
Offering a home warranty is a great way to get buyers to feel more comfortable about your home. An even better tactic is to get a Home Inspection and fix any and all problems the inspection finds. Then you can include a copy of the home inspection along with copies of the repairs. This with a warranty will make it almost a no brainer for a buyer.
As far as marketing, hire a Realtor. In this market, there is no sense in letting your home sit on the market for months on end because you want to "save" a commission. Plus the few tips I gave you are just the tip of the iceberg when it comes to the kinds of advice a Realtor can give you.
You're right on here -- pricing in key to getting buyers to look at your home! When there are dozens in a price range to look at, it also needs to stand out as well maintained and the best possible choice! We find most sellers underestimate the competition when entering the real estate market!
We had a home seller contact us last week and they planned to do a for sale by owner. After we reviewed all the work, advertising and the internet exposure an agent will do for them, not to mention the negotiating and expertise, they decided it was money well spent to list their home!
Pricing is the key but beware of estate agents valuations! in the UK some agents price high to win an instruction then reduce the price after your contract with them is signed. Compare like for like , check sold prices in your area check out the competition and pretend to be a buyer. If all else fails consider Extreme House Selling tactics great for relieving the stress of a sale and may give your home the exposure it may need. I have created a hub on Extreme House Selling you may find it of interest
Nickmarr is right about the importance of pricing your home right. There are just too many houses on the market and not enough buyers. Why would they even look at a house that's overpriced?
Next, though, is marketing. You really need to get aggressive with your marketing tactics. If you are using an agent to sell your home make sure he or she is taking advantage of all of the marketing tools available to agents. If not, find out why and stay on the agent until the house is getting massive exposure.
I do take issue with the answer that mentioned a house being sold by owner will sit on the market. New studies have shown that is no longer the case. With the economy the way it is, I think it's a good idea for a seller to go it alone. It WILL save him a lot of money.
A good real estate lawyer to draw up the paperwork and go over the purchase agreement won't cost anywhere near what an agent's commission is.
With so many homes for sale in every price range, the best way to set your home part is create a unique benefit for the buyer. It might seem that under pricing the home would seem to be a good idea and may work for buyers whom are looking for investments but for the average home buyer it sends up a red flag that theire is some hidden problem.
Instead you want to leave your price at fair market value and add something else like a 1 year home warranty on the appliances and heating system or offer to hold a second mortgage at either a very low interest rate or maybe with no interest. Both of these create a financial benefit for the buyer without actually costing the seller anything at settlement.
As said by all those before us, Price is key. I'd like to ad if it hasn't been mentioned,
Staging your home, Be it an upscale piece of property or a home in need of a Handyman. The basic principal still applys.
How your home is presented matters. It will set it above the rest if your home is neat, tidy and smells fresh.
Any home can sell in any market if the Price is Right, and the home is presented in it's best possible light.
In addition a realtor with the skill and knowledge to sell your home is also key.
I'd be very careful offering them home warranties. Once you're out, you're out of there. Don't warranty something you have no control over once they've moved in. If anything at all goes wrong, they'll blame you and try to get monetary recompense.
Always sell your home as is. Sell it with No Conditions. Make sure the deal is sealed tight. You don't want any surprises just before closing. Don't offer them anything more than what they see. You would otherwise be asking for trouble down the road.
My best advice is to read my hub on the topic.
Ask three Realtors to provide a CMA (comparative market analysis) and a marketing plan. Discuss the absorption rate with all three ( the ratio of homes on the market as compared to the number of homes sold in your desired market time). Ask the agents for their advice on repairs and conditions. Your home will sell for the most money within the first 60 days provided that your home is well positioned to compete (price, condition, value) and you have maximum market exposure. Your agent should create a virtual tour and network the listing online as a start. Good luck!
If you want to save thousands of dollars from direct real estate agent assistance you should look into selling your home or property FSBO. I have a couple of hub about going "For Sale By Owner" selling.
http://hubpages.com/hub/Benefits-of-Sel … er-or-FSBO
You can also check http://www.yigdigs.com and avail FSBO Service including flat fee MLS and agent assistance for contract and closing and save thousands of dollars in the process.
In this economical ups and downs all over the world, real estate is a kind of business that shows a steady sign. selling a house is no longer a burden, just sit in front of your laptop, visit different Realtor who are in the business for long run (obviously go through some real estate review sites to choose the best one), ask the Realtor to provide you a comparative market analysis and a thorough plan.
You will surely be able to see the current market condition, your houses' demand in the market and the prices, you will get a grand chart and then just decide to sell it.
The best way to sell a house in a difficult market is to incorporate storytelling in how the house is marketed. It has to be differentiated.
The safest way to sell your house is through a real estate agent. He will help you in improving the curb appeal of the house and get you the best price for it. I got my Killeen apartment sold via http://lonestarrealty.net/ . They did a great job and got me a great deal.
by Jane@CM 13 years ago
Our house is on the market, we have a an agent. I want to market it myself more aggressively, any thoughts?If you can tell, I'm anxious to move to Cali to be with my hubby!I thought about starting a blog, but rethinking it, I'm not sure it makes any sense. It would take forever to get...
by nformation 11 years ago
Would you get a home inspection to help sell your house?
by Sekharg 12 years ago
I see lot of houses for sale.I heard interest rates are lowest.Is it a good idea to buy a house now?What do you think?
by nformation 12 years ago
Would you be comfortable buying a house without a home inspection?
by Donna Cosmato 10 years ago
Do I really need a home inspection on a house before making a purchase offer?
by Jenna 10 years ago
I'm just wondering if some of you lovely Hubbers would be able to advise on how you would approach this.I am thinking about starting my own business selling children's clothing, baby gifts, accessories and some items for Mum. My problem is that I am not entirely sure where the best place to start...
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