How to Sell Your Home in a Buyers Market: 5 Tips
Selling your home in a buyer’s market might mean a more stressful time. Buyers tend to be choosier, properties stay on the market longer and prices stagnate. But there are ways to make sure that you get your home noticed by buyers over the others and get it sold in no time.
Know your competition
What makes your home unique? If your property has something that the others don’t, use it as a selling point. Is it located in a prime neighborhood? Does it have all the upgrades that other properties don’t? Make your property stand out by highlighting these features.
Look at the comparables
In a buyer’s market, where buyers are more picky about getting the best deal possible, pricing it correctly is definitely essential. An experienced real estate agent will help you out with a free market analysis to know what other properties are going for in your area.
Show them their dream home
A well-maintained and well-presented home sells better. This holds true especially in a buyer’s market. In a competitive market, buyers are picker about small details like light fixtures and window furnishings, so you need to get your house in its most pristine state. Choose what repairs or upgrades will be the most profitable for the sale of your home.
Restricting your pool of buyers is where you might possibly hit a snag in getting your home sold. Some buyers need unusually long or short settlement dates, while others need more flexible payment terms. If you can accommodate these types of buyers, your property will definitely be on top of their list.
Know your buyers
Get to know your buyers' needs and you may find something that could sweeten the deal up for them to buy your home. Are they first time homebuyers and are lacking furniture or appliances? Throw in your fridge or a flat screen. If a buyer is still torn between two or three properties, a few extras might just do the trick.
Buyers can also get a little demanding about repair works. Rather than have these repairs done yourself, it would be best to offer a compromise by reducing the sale price to cover the costs. This way, you get to settlement day more quickly and avoid the hassle of dealing with contractors.
Hire an expert real estate agent
Selling your house in a buyer’s market can be frustrating and stressful. Buyers can waste your time and be picky about the details of your home. Hiring an experienced real estate agent will make the process easier for you. Someone who knows the market well and is very knowledgeable about negotiating deals with all types of buyers will give you higher chances of selling your home faster and at the best price possible.