After years of the sellers being in control, the real estate market has swung like a pendulum in favor of buyers. Dont worry. You can still sell a house if you follow these tips.
1. When you are selling your home, allow it to be shown at a moment’s notice. Qualified buyers aren’t “a dime a dozen.”
2. Buyers are always going to offer less than the asking price, so make sure to list a sales price that is higher than what you want. This gives you wiggle room to negotiate and avoids a situation where you are trapped by your initial asking price.
3. When you decide to sell your home, giving the kitchen the once over is a good first step. Kitchens are unique in our daily lives. For some reason, we always seem to congregate there. Buyers know this and will be focusing on the condition of yours.
4. When selling your home, be realistic about your asking price. You can check public record at the courthouse, or in many cases on-line, for the amounts of recent sales in your neighborhood.
5. When analyzing homes for sale in an area, it is important to focus on the correct numbers. Typically, you want to throw out any home that has a distinctly higher or lower price than the other homes unless there is something unique about it.
6. When searching for homes, buyers focus on those they can see. Regardless of where or how you market, you must include home photographs in your marketing material.
7. Buyers aren’t a dime a dozen but they are out there. Showing flexibility can make your property more attractive than the competition. Be willing to vacate quickly for a qualified buyer who wants it.
8. If someone gives you their word they will do something, but doesnt put it in writing, you cannot force them to do it. Make sure you get everything in writing!
9. Whether buying or selling, it is important to recognize the type of market you are in. After years of a hot seller market, the beginning of 2007 introduces us to a distinct buyers market. Home prices are falling, which means we have a volatile market.
10. Many people ask escrow officers for advice or help. Dont expect any! Escrow companies are supposed to be neutral third parties. They handle the paperwork, not negotiations or problems.
At the end of the day, the real estate market slows down and speeds up. It never comes to a stop. Put another way, you can always sell a home. You just need to pay attention to the details and now you can.