Selling a house in an extremely competitive market is possible, especially if a seller is prepared to take action to help facilitate attracting a buyer. In a buyers market where ‘for sale’ signs are springing up like mushrooms after a downpour, it’s not enough to hire a realtor who only puts a sign in the yard, enters the information about the home on the local multiple listing service (MLS), and cross their fingers hoping for a potential buyer to find the home.
In a buyer’s market, it is imperative that sellers be more cognizant of the choices and actions they take prior to putting the home on the market. In some instances, it may even be wiser to keep the home off the market until it has been prepped and is ready to show in it. Potential buyers may not reappear to see your freshly painted entry. How should you prepare yourself for this competitive market?
Making the Sale in a Competitive Market
Here is a checklist that will help you get your house ready to sell in a competitive real estate market:
Choose an Agent That Understands a Competitive Market
Rushing into choosing a realtor could be your first mistake in a competitive real estate market. You must begin by interviewing several agents in order to choose the best realtor available for your individual circumstance, especially in such a competitive housing market. Start by asking some standard questions to find out what marketing plans are offered, what internet presence can be expected, a list of past clients as references, and what type of administrative and communication systems are in place.
The realtor who understands the market, who is not interested in appeasing your over-priced value on your house, and who can explain what it means to sell a house in a buyer’s market is the agent for you. Choose the agent that gives you the straight talk while keeping a good rapport with you, and you will have a successful relationship and sale.
Get Your Home Ready With Repairs
It’s time to prepare the home for sale. Aggressive sellers will hire a home inspection company to conduct what is termed a “pre-inspection” of the house. Sometimes referred to as a “seller’s home inspection, this pre-inspection will identify potential defects in the home that will eventually show up through a buyerís inspection, possibly terminating any offers on the table. By discovering defects and making the corrections well before a buyer has an opportunity to back out, the home will get a second and third showing, resulting in more offers.
When a pre-inspection is conducted, it is best to inform potential buyers of it by leaving a copy of the inspection report at the home as well as have it posted on the multiple listing service. Don’t forget to do those little repairs, too. It’s not just about whether the furnace works; buyers notice things like broken light switches and squeaky doors. It may seem trivial, but each one starts a fingernails-on-the-blackboard response in a buyer which can result in losing a follow-up showing.
Cut Through the Competition with Great Curb Appeal
In addition to making repairs to the actual home, taking a look at the landscaping and entry is another key to selling a home in a buyerís market. Landscaping and your front door has a tremendous impact on the first impression a buyer will get when they first see the home. You may be thinking that buyers are fickle, and they may very well be. But, regardless of whether you think something like a few flowers and a fresh coat of paint is trivial, your buyer may not. Having a potential buyer come back for a second look because they felt welcomed by the first impression they got at your front step can make the difference between selling and sold.
Photos of your home will be posted on the internet, printed on flyers, and used in other publications if you have an aggressive agent. Simple things like potted plants, trimmed shrubbery, and neat entries make a difference. Photographs aren’t very forgiving. You can’t make up for that peeling paint or pile of dead leaves with a clever description of your home or even cinnamon rolls baking in the oven. Pictures are not forgiving, so be sure your landscaping and entry are meticulous, even if you have to postpone your listing until you get it done. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying of selling a home.