Homeowners: 3 Quick Tips to Sell Your House in this Kansas City Home Buyers Market
We all know that our city is in the midst of a home buyers market. The big question for Kansas City home sellers is, "What can I do to make my house stand out so that you attract the attention of the many buyers on the market?"
Here are the 3 things that you should do to get a jump start on your competition:
1. Most importantly, visit with a real estate agent who knows your neighborhood. We will walk through your house and point our things that you need to do to in order to get your home "show ready". There are certain objections that buyers typically have, and our job is to identify them early enough that they don't become a big deal later on. It is critical to have this walk through early enough to give you time to make any adjustments should they be necessary.
2. Be creative with financial incentives for the buyer. Will you pay their closing costs, buy down their interest rate so that they have a lower mortgage payment, replace carpet or offer to paint - they pick the color. Your agent can identify different loan programs that your home, or neighborhood qualify for. For example, in our state of Missouri, a buyer may be qualified for a state backed down payment assistance program that will provide a grant of up to 3% at closing. Do buyers in your market know that this is available to them? If you are the only one promoting it, they may be more apt to check out your home. The goal is to stand out from the crowd and give them a reason to consider your home over the others on the market now.
3. Price your home to sell. You can't price it based on emotions. The market is very clear. It is different than it was 5, 3 or even 1 year ago. Prices in many neighborhoods are lower, unfortunately. Some sellers are selling for less than what they paid in recent years. Along with the fact that it's a buyer's market, you should not only price your home very competitively to start with, but be prepared to reduce it every 2-3 weeks if it is not getting shown. Or, if you are getting showings and no written offers, that's also a sign that the price is not right. As your agent, we will give you an idea of the average time on the market for homes. If yours hasn't sold, then the market is speaking loud and clear. Every single property will sell - but at the "right" price. And price is determined by the market and what a buyer will pay. Are you positioned to find and engage with that buyer?
So, consult with your Kansas City real estate agent about what you need to do to get your home sold in today's buyer's market. Please feel free to call me about arranging for a complimentary consultation and walk through of your home in the metropolitan area and Brookside, Waldo and Red Bridge in South Kansas City.
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