In many areas of the country real estate supply is currently in exceeding demand. This means that buyers typically have their choice of multiple homes in a given market. As a seller you need to put the properties best foot forward if you want to get your property sold. Instead of spending money and upgrading everything in the property there are plenty of practical, inexpensive things you can do that will boost the appeal. With competition in the market it is important to think like a buyer and do the little things that can really pay off.
Think Like A Buyer
One of the first things that almost every buyer notices about a new listing is the price. As a homeowner it is easy to place a higher value on your property than other homes in your area. It is important to take your emotions out of it and look at the data and listen to the advice of your real estate agent. Listing too high and seeing if there is any interest can do irreversible damage to your sale. Local buyers and real estate agents will quickly move on to other homes in the area that are priced in line with the market. Once this happens they may not give your home a second look even if you do eventually reduce the price. Your initial listing price is critical.
The next point to remember is that in every showing there is a potential buyer. If you are living in the property you need to make sure it is clean, organized and free of funky odors at all times. This can be a delicate balance of living your life and having it ready to show at all times. It may be difficult but this is essential if you want to sell your home. Most buyers can look beyond clutter but some won’t be able to get a messy house out of their heads. Ideally you will only have to deal with showings for a few weeks. During that time you need to focus on keeping the house ready for showings at the drop of a hat.
Finally it is important to know which side of the negotiation you are on. If you are truly in a buyers’ market you may need to make some concessions that you wouldn’t think of in the past. This doesn’t mean that you need to give away the farm but you may need to be flexible. Even before you list you should decide which areas of negotiation are the most important to you. This could be anything from the closing date, end sales price or even which household items you will take with you. After you decide the areas you will stand your ground on you need to be willing to bend in other areas. If you are not willing to make these concessions you may miss out on a potential buyer. The longer your property goes unsold in a buyers’ market the less appeal it holds and the harder it is to find a real buyer. With the right price, condition and mindset you can quickly sell your property for top dollar in any market.