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How to Sell Your Home In A Slow Market

By
Real Estate Broker/Owner with Dream Town Realty

Market conditions might not always be ideal for you to sell your home. However, just because a wealth of buyers might not exist doesn’t mean that you won’t be able to sell your home at all. It does mean a little patience and flexibility will be required, as well as extra preparation, to make your home outshine the competition and get sold!

Before you put your home on the market, make sure all basic repairs are completed. If you want to be especially competitive, don’t allow something like a torn window screen to knock you off your game. If a homebuyer thinks little things aren’t being attended to, they might lose their faith that you’ve been diligent about attending to structural issues over the years, and fear that they’ll have to fork over even more money for repairs or renovations.

In a slow market, it’s important to always keep your house clean, as you want to be ready to be able to show it at a moment’s notice. Conventional real estate wisdom states that the more times a home is shown, the likelier chance it has of being sold.

If you don’t have the time or desire to stage your home so that it looks its best, consider hiring a professional to do so, to rid your home of the clutter that can often be distracting to potential buyers.

Finally, be realistic in both your expectations of price and time. Don’t think about what your home could have fetched last year or the year before, but understand the current real estate climate and adjust your price accordingly. When it is a buyer’s market, which means there are more sellers than buyers, the people making an offer on your home don’t have to negotiate as much because supply is higher than demand. Therefore, a home that is priced too high is likely to be passed over for a home that has a lower price. If you enter into negotiations offering a fair price, you’ll avoid having to do as much back and forth negotiation that could result in the loss of an offer. And again, be cognizant that things might not move as quickly as you would like them to, or as quickly as you imagined they would when you first entered the selling process. If you stay patient and realistic, you’ll reduce your stress level.

And by always being ready to show your home, and having it look the best that it possibly can, you’ll know you are doing everything within your power to get your home off the market and get it sold.

Post by: Dream Town Chicago Real Estate

Comments (1)

Karen McLinden
Beautiful Day Real Estate - Westport, MA
Relax and follow me...I know the way home.

Enjoyed your post! Thanks!

Feb 07, 2011 07:53 AM