If your property for sale isn't generating offers, there a few actions you can take to make up for the slow real estate market.
Check Your Sales Price Your home may be overpriced. Listen carefully to your listing agent who knows better than the folks at the office, your relatives, or friends at the club about the listing price of your home. Agents are paid to know their markets, and they work with real estate every day, so they have informed opinions on the latest market conditions and home prices.
On the other hand, if you are certain that your home is NOT overpriced, don't be persuaded to lower your price. Many homes sit on the market for other reasons. According to a report by the Christian Science Monitor, staged homes sell twice as fast as homes just cleaned up and listed. Staged homes sell for an average of 7.4 percent more, as well.
Check Your Internet Listing here should be a strong Internet marketing presence nowadays if your home is going to compete against all the others in your area. A recent study by the National Association of Realtors showed that more than 70% of all home buyers now begin their home search by going online and doing some preliminary investigation--before they ever contact a real estate agent. It's also important to insist that the agent offer at least eight indoor and outdoor photos of your home, so prospective buyers can get a genuine feel for it.
Add Buyer's Incentives Since the market is changing, it may be well worth your while to offer prospective buyers some help with closing costs. It's been a seller's market for quite awhile, but more and more, sellers are being asked to help with closing costs and points on mortgages. If you can carry some of the mortgage on your home yourself, that's an even bigger draw.
Don't Dissapoint Buyers Remove anything you want to exclude from the sale before you show the home. That will prevent confusion in buyers' minds--and remember, the confused mind always says no. If a particular item is important to you, get it out of the home before it becomes a bargaining point--and a possible obstacle to selling your home, even to a qualified buyer who truly wants it.
Make an Action Plan If your home isn't moving, don't be afraid to ask for your real estate agents' advice and suggestions. You'll sometimes be surprised that they have quick responses to your questions, because they've heard similar comments about your home from a number of sources over the course of your listing. Listen to those comments, and then take action on them, because they'll often mean the difference between a home's sale and continuing to sit on the market.
Copyright 2006 Jeanette J. Fisher |
