Five Tips For Selling a House In a Buyer’s Market

Everyone knows that it’s a buyer’s market in real estate today. With so many houses on the market, sometimes with entire neighborhoods trying to sell and property values falling, you’ve got a challenge on your hands. In better times, the real estate agent’s advice on curb appeal won’t help much. You’ve got to be a bit more creative and diligent to close that sale and come out with your shirt intact. Here are five ideas that may just make the difference for you.

When you’re selling a house, especially if it’s the family home, you have a lot of emotional attachments. It’s your home, but a prospective buyer in today’s market is looking for a deal and the best price. When you list your home, do heed the advice of the real estate agent. The agent knows your particular market and what buyers favor. If you’re told to recarpet the living room, you’re well advised to do so if you can manage it financially.

Many people are opting for the ‘for sale by owner’ strategy when selling a house in this difficult market. There are some advantages. You can afford to sell for at least 6% less, because you don’t have the real estate agent’s fee to figure into your selling price. Marketing your home will require some effort and expense because you won’t have a large real estate company doing the advertising for you. On the other hand, some well-placed ads can attract savvy buyers who know they may get an excellent price in a for sale by owner deal. If you choose this approach, invest in an attorney’s services, to look over the paperwork.

If you go for the for sale by owner strategy, take a page from the real estate agent standard. Place an ad announcing an open house weekend. Many sellers have found success by selling a house in this way.

Although it’s usually the buyer who orders and pays for a home inspection service, you should have one performed before you start the process of selling a house. The home inspector looks into every nook and cranny for structural damage and repairs which they’ll recommend to a buyer. You should make the necessary repairs before listing your home. A clean report leaves no room for quibbling on structural defects for the potential buyer. A clean report is also reassuring and eliminates hassles for the new owner.

Pricing your house correctly can save you lots of time and money. Here again, don’t let your emotions overrule reality. Although you naturally feel your house is worth more than the market will bear, you may have to bite the bullet on some of your favorite improvements. If you’ve got granite countertops or tile flooring you installed years ago, selling a house with such lovely features for the same price your neighbor is asking without these quality amenities can translate to a quick sale for you. Good luck!


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