Tips for Selling your House in a Slow Market

By
Real Estate Sales Representative with Sky Realty

Most sellers understand that there are more homes on the real estate market today sitting stagnant than this time last year. I do believe that anyone will agree that you must put more preparation into making your house's appearance, or curb appeal, more attractive than the next in line. Much like a first date, the buyer's first impression is a lasting one, particularly with all the available choices.
The hardest realization for a seller, in my opinion, is to set the correct price on their house, too high and it may sit awhile or even go unnoticed to some potential buyers, too low and it takes too much affect on their bottom line. This is where an agent proves his or her value to the seller. With the correct evaluation of the current market and listening to the seller's needs an agent should be able to help price the seller's house to move accordingly.
Marketing your house depends on you or your real estate agent's resources. Today, paper still produces good results but the Internet has proven to have a large impact for sellers. There are many ways to market your house on the web ranging from the Multiple Listing Service to the popular website called craigslist as well as agent's personal sites that can offer dynamic virtual tours and other video listings. These all help to create the traffic needed to sell a home in today's market.
Another tip that can help to entice buyers would be to offer a one-year home warranty covering major appliances and often other small repairs within the first year of ownership. These typically range from $300 -$500 depending on the area and house. One last tip may that never seems to disappoint any buyer is to offer a credit ($3000 seems to be a good figure) to assist with closing costs.
With the right research, effective marketing, and bonus incentives your house should sell.

Comments (9)

Chuck Marunde
Sequim & Port Angeles Real Estate - Sequim, WA
Sequim Real Estate Broker
Right on dude.
Aug 15, 2007 11:09 AM
Phillip Cross
TBD - In transition... - Seal Beach, CA
ePRO Realtor - Relocation Spec

Joshua, Some very valid points. I always provide a 1 year Home Warranty with any property that I list. Advertising on the Internet is extremely strong as well as offering virtual tours.

Single Family Detached Home Sales Parkville, MD

July 2005 - 51 SOLD Avg Price: $243K w/ 60 New Listings

July 2006 - 49 SOLD Avg Price: $267K w/ 76 New Listings

July 2007 - 40 SOLD Avg Price: $275K w/ 56 New Listings

As you can see our market is still very strong and consistent.

Aug 15, 2007 11:11 AM
Laureen Coup
Crossroads Realty - Bayville, NJ
Broker-Manager
You have to make your listing stand out, a warranty is a great way to do that, especially if your warranty company gives you a sign rider for your yard sign.  I think another good way is to advertise that your seller will offer money for closing costs or pay the buyers 1st mortgage payment which can be less than the closing costs but looks as appealing
Aug 15, 2007 11:19 AM
Debbie Johnson
REMERICA United Realty - Novi, MI
Novi, MI Real Estate Professional

I must say that you can stand on your hands, do cartwheels, or run in circles naked on your seller's front lawn.  None of these will bring a buyer unless your property is priced right.

 

Interested in buying or selling a home in Farmington Hills, MI?  Deborah Johnson is your Farmington Hills real estate expert.

Aug 15, 2007 11:24 AM
Anonymous
Anonymous
would you side your house for 4500.00 and sell by owner or for go the siding and hire a realtor?
Aug 20, 2007 02:22 PM
#5
Anonymous
Anonymous
would you side your house for 4500.00 and sell by owner or for go the siding and hire a realtor?
Aug 20, 2007 02:22 PM
#6
Anonymous
Anonymous
would you side your house for 4500.00 and sell by owner or for go the siding and hire a realtor?
Aug 20, 2007 02:22 PM
#7
Anonymous
Anonymous
would you side your house for 4500.00 and sell by owner or for go the siding and hire a realtor?
Aug 20, 2007 02:22 PM
#8
Jack Gerbehy
Egg Harbor Township, NJ

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Jan 23, 2016 02:12 AM