Here's what it takes to sell your house...
Adjust your mindset:
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Realize that you are no longer in a Sellers Market and you must adapt in order to get your home sold.
It wasn't too long ago that having the best home on the block meant that you would get the best price on the block, too. Not so in today's Atlanta real estate market. Having the best condition and location are still very important, however, no longer do they equate to getting the best sales price.
Understand the Buyers' Psyche:
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Buyers want the same for less, or, they want more for the same.
Plain and simple, Buyers have many homes to chose from in today's market and yours must stand out amongst the competition. How do you stand out? By giving the same for less, or by giving more for the same. Take a critical and honest look at your home's condition and location, then price accordingly.
In a Sellers' Market, Buyers tend to be emotional about a house.
Conversely, in a Buyers' Market, Buyers seem to be logical about a house.
What makes a person decide to buy a home? The number one reason is that they are afraid they'll lose it. It will be gone. Sound crazy to you? Take a look at my argument and you'll see that it works for both a Sellers Market and a Buyers Market...
In a Sellers' Market, not much inventory exists and it is common to have multiple offers on the same property. When a Buyer finds a property that meets their needs and desires, they will do what it takes not to lose it. Emotion takes over and even if it means a bidding war, and, perhaps even over paying, they'll do it so as not to lose the house.
In a Buyers' Market, a lot of inventory exists. A Buyer will typically see 3 or 4 times more the the amount of homes they do as in a Sellers Market. A Buyers' Market Buyer, otherwise known as a Seymour as in see-more, is driven by logic - he wants to see everything, know everything, research everything. He will know the market like the back of his hand. He is waiting for the right house. He is reluctant to buy until he finds the one and the only way to 'capture' a Buyers' Market Buyer is to give him what he is looking for... the same for less, or, more for the same ...making him feel that your home is such a great deal that he'll likely lose your house to another buyer. That it will be gone. That scares him. Logic says this a great home at a great price. Emotion kicks in and will tell him he must make an offer so as to not lose your home.
Even in a Buyers' Market, fear of loss is the still the number one reason why people buy. Make your home that compelling case where both emotion and logic win.
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