How to sell your home in a slow market
The current challenge to many of today’s sellers is an abundance of inventory currently on the market. Additionally, REO homes and Short Sale homes are causing prices to soften. If you are a seller who is trying to sell your home, here are some suggestions:
Even though the real estate market has slowed down in recent months, there are still plenty of buyers eager to make a purchase. So, the first step is to properly prepare your home for sale. Before you even put your home on the market, make sure that all basic repairs are completed. Easy repairs like a leaky faucet and missing hardware do not cost a lot of money. However, if a homebuyer sees that the little things are not attended to, they are likely to believe that the larger things are neglected too. Let buyers know that you have pride in your home by making sure that all of the small repairs are taken care of. Keep your home clean throughout the time it is on the market.
In a slow real estate market, it is important to have your home available to show at a moment's notice. The more often your home is shown, the likelier it is that your home will sell. Make your home available to your realtor and they will be able to show your home quickly to any buyer that shows interest.
Have your home staged by a professional. A professional home stager will help you remove clutter and depersonalize your space. Prospective homebuyers want to picture their family in the home, and a home full of personal clutter will not show off the potential of your home. (Builders often use a staged model home to sell off their whole community!).
Keep pets contained during a real estate showing and make sure that your cat litter box is always clean. Pet owners tend to get used to the odors caused by litter boxes and it is important that you remember to clean it every day. Nothing will turn off a buyer like a home that smells. Use air freshners to neutralize all odors.
Price your home realistically. Forget about what you could have sold it for last year and focus on what your home is worth now. There is simply too much inventory on the market that if a home is priced too high, it is likely to be looked over. Ask a fair price for your home to avoid the need for too much negotiation and a much longer time on the market.
In a slow market, hiring a good real estate agent is crucial to getting your home sold in a reasonable amount of time. A competent realtor will share the realistic price with you upfront. Do not make the mistake of going with the realtor who suggests the highest price only to bring it down later. Also, nothing beats the experience that comes from a real estate agent who is able to take care of everything in order to sell your home.
Selling your home can be a stressful time, but you can be successful in selling your home if you remain patient, reasonable and flexible. There are buyers out there and the key is to find them and get them to fall in love with your home.
Looking to sell your home or buy your next home, call Chris Shastri or Sonali Shastri at 925-997-SOLD!