If your home is on the market, or if you're planning to sell your home in the near future, you might be discouraged by the national media's rampant reports of increasing inventory and languishing sales.
As a member of the Top 5 in Real Estate Network®, I have many years of experience working with home sellers and have learned a few strategies that really work toward securing a buyer more quickly. Here are five useful suggestions:
- First, for your home to sell more quickly, it must be exposed to the maximum number of buyers possible, so make sure your home is listed with a local brokerage that has a comprehensive understanding of your market area and knows how to employ technology to increase exposure. Find out how they will market your home online, what listing portals they will use, how they will utilize social media, how many pictures they will post, videos, etc.
- While it's understandable that you’d like the largest downpayment possible from a buyer, be willing to accept a smaller downpayment, provided the buyer has been preapproved for a loan. This can make a huge difference to cash-strapped buyers.
- Do some legwork and ask your real estate agent for a tour of competitive properties. This will help distinguish what features of your home you should highlight or what small changes you can make to give your home an edge over the competition.
- Choose your battles and understand where certain concessions might work in your favor. In a slow market, for example, it may be better to pay a "seller contribution" to help buyers offset closing costs than to lower the sale price. While a seller contribution may be smaller than a price reduction, it is often more attractive to buyers who need cash to close.
- Consider including some value-added items in the sale of your home, such as the swing set in the backyard or items of furniture that buyers fall in love with and/or really need. A few freebies might be just what you need to close the deal.
If you would like to learn other ideas for selling your home more quickly, please contact me. Also, please forward this information on to anyone else that you may know who has concerns about effectively selling their home.