Do you want to successfully sell your house in a buyers’ market? When the housing market is competitive you need to make sure to do everything possible to give your home an edge on the competition. So what steps can you take to sell your house in a down market?
1) Stand out from the Crowd
Consider making practical custom renovations to attract positive attention from potential buyers. Replace boring bushes with attractive landscaping. Put in a deck to enhance the appeal of that swimming pool. Add touches to accentuate existing positive features of the home.
While you want to enhance your home’s market appeal, do not go overboard renovating when you are not sure to recoup your investments. Expensive bathroom and roofing renovations may not pay off in a down market. Remember to list all improvements and renovations when advertising your home.
2) Kick Clutter to the Curb
One of the most important real estate selling tips is getting rid of clutter. If your house is cluttered with excessive furniture, clothing, or personal items it is unlikely to sell. Consider hiring a professional stager if you are unsure of how to remove the clutter from your home before putting it on the market.
3) Include Special Offers
Consider offering a one-year home warranty. If your home is in a particularly competitive market, offer to pay all or part of closing costs. You can also agree to close on the home in a short amount of time (30-60 days). Any special offers or perks you can include to make buying easier will increase your chances of making a successful sale.
4) Make a Good First Impression
Real Estate experts agree that curb appeal is essential in attracting potential buyers. An unkempt yard and peeling paint can discourage buyers from even looking inside the home. Make sure that your home’s exterior is immaculate before placing it on the market.
5) Make it Turnkey Ready
Most potential buyers want to simply be able to walk in and enjoy their new home without making repairs. Extra touches are not likely to sell a home with leaky pipes and broken appliances. Make sure that everything is in good working order before you list your home.
6) Set a Reasonably Fair Price
Before listing your home, research prices of similar homes in your neighbourhood. Invite a real estate agent to tour your home and give you an estimated reasonable price. There is no need to undersell everyone around you. As long as your home’s price is in the ballpark of similar home prices in your area you will likely attract potential buyers. Consider improvements when setting your price and adjust your price accordingly.
Carefully following each of the preceding steps can give your house an edge over the competition. Aesthetic improvements, removal of clutter, special closing offers, curb appeal, turnkey readiness, and a reasonable price are all essential keys to selling your home. With a little know how and planning you can still successfully sell your house even when the market is down.