Jul 11 2008

Tips To Sell Your Home Fast in a Buyer’s Market

Published by Guest Author under Real Estate

Selling your house fastEveryone was so used to the seller's market of the past few years that they are having a hard time accepting the realities of the buyer's market we are in today.  Gone are the days of bidding wars for properties and selling your property within hours of it being listed on the market.

Homes are now sitting on the market longer and sellers need to make concessions to sell their house.  Many people are just starting to realize that they cannot ask for $10,000 more than the last house to sell in the neighborhood.  The people looking for houses today know what they want.  They weren't caught up in the frenzy of the buyers market.  They played the waiting game and are smart buyers.  They are looking for the best value for their dollar.  To sell a house quickly today you need four things.

Expert Help:  I am true DIY person at heart.  When it comes to selling your house I think that most people need help.  one main reason i feel this way is that there is a lot of money at stake and things need to be done in a very careful manner.  This is one area where having an expert on your side helps.  Realtor's will help with pricing and Real Estate attorneys will help protect your interests in everything.

When choosing a Realtor remember to interview at least 3 Realtors and watch out for the sales pitch.  Talk to them and pick the one that you feel will get you the best value.  Notice I don't say price.  You need value here which is much different than price.  Value can be measured in how much time you house is on the market, how smoothly the deal goes through, etc.  Look for things like client references, experience in the area, time in business, personality, etc.  It won’t matter if you get an extra $2,000 for you house if the closing is delayed, it takes an extra month to sell, or the buyer backs out because of a problem your real estate agent caused.

Proper Price:  I listed this first because it is the number one thing.  People have a personal attachment to their home.  This causes a skewed perception when it comes to value.  Talk to a professional about pricing your house.  Have them pull comps, review them with the Realtor and come up with a realistic price based on your house versus the comps.  Don't let emotion come into play.  When it comes to selling your house, Michael Corleone said it best "It's not personal, Sonny. It's strictly business."

Good Shape: To sell a house today it has to be in good shape.  Only some people are looking for fixer uppers and if you have things that need to be fixed you will limit the pool of buyers who your house will appeal to.  We want to market te house to the most people as possible.

Proper Staging:  You don't have to get your house professionally staged, but follow the general rules of staging.

  • Less is more.  Remove the clutter both in the living and storage areas.  Don't forget the closets.
  • Keep it lit.  Proper lighting is key.  Accent the nice areas of your house.  Keep rooms well lit.
  • Depersonalize.  Remove personal photos, etc.  You want the potential buyers to picture themselves in the house not reminisce in your memories.  Make your furniture look cozy, but don’t put too much in one room. Your most attractive piece of furniture should be placed on the wall you see when you enter a room if possible.  Remove all CD’s and DVD's.  Hang pictures at eye level or in geometric shaped groupings.  Accessories should be placed in odd numbers, one, threes or fives.  Use a flower arrangement, mantle clock or piece of art on a fireplace mantel in place of personal items.
  • Cleanliness is next to Godliness.  Keep the house clean.  Pay particular attention to the kitchen and bathrooms.  Clean the grout, remove any mildew fro the bathroom.  Keep counter space clean and clear of all items.  Remove all notes, magnets, etc. off the front of the fridge. Organize the shelves and drawers.
  • Fresh Paint.  A Fresh coat of paint in a neutral color tans, sages, and beiges are good choices.  Use accessories, pillows, rugs, candles to add color and interest.
  • First Impressions.  You only get one chance to make a good first impression.  Curb appeal is it for your house.  Make sure the exterior of the home is in good shape.  If there is chipping paint, repaint.  If the shrubs need trimming, do it.  Plant some flowers to give a welcome to guests.  Declutter here as well by making sure everything is cleaned up.  Nothing should detract from the beauty of the home.  The lawn should be cut and well watered for a nice green effect.  The pool, if you have one, should be cleaned.

While nothing can guarantee a fast sale for your home, if you follow these guidelines you will have the best chance to sell you house quickly.  Good Luck!

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