The real estate market is a balancing act. After a period of red hot sales, we are now in the cold, cold winter of the market. If you are selling, you probably know this as you home is sitting on the market. Is there anything you can do to generate interest?
When a real estate market goes cold, it can seem like there are no homes being sold at all. This is incorrect. There is just a lot of competition for the attention of a small pool of buyers. To get their attention, you need to do some unique things.
The first thing you learn when getting into real estate is the location rule. The nature of your neighborhood is critical. The better, the better your chances of selling. Play up the attributes of it in your marketing material.
Ah, but what if you have a problem neighbor or two? You know. The ones who have a front yard that looks like a jungle? Offer to have the landscaping done for them. It will probably embarrass them into taking action. If not, it is money well spent.
The next bit of advice has to do with pricing. You need to objectively evaluate comparable homes around you. Identify the homes that are similar to yours in size, quality and so on. Now, adjust your price to the bottom end of their prices.
Obviously, the comparable homes in a neighborhood are not all the same. If yours is slightly better, pricing at the lower end of the listing range can be hard. Do it! Most sellers will group the homes together and not notice your fine points.
Given this, many homeowners just can't bear to cut their price. Are their homes destined to sit on the market? Nope, but you must aggressively market the differences that make your home superior to comparable ones.
One way to do this or just move your house is to offer favorable terms to buyers. We all want someone to show up with a suitcase of cash. It probably isn't going to happen. Offer to help with the financing by offering a second mortgage. It can make all the difference.
An obvious, but often missed, final step is to make small improvements to the property that carry big weight. Landscaping is usually cheap and can radically change the look of a property.
Besides landscaping, there are other minor tasks that can have a big impact. Clean your driveway and organize the garage. Cut back plants in front of windows to maximize lighting and views. Walk the house and just make little changes to the details.
When a real estate market goes cold, it can seem like there are no homes being sold at all. This is incorrect. There is just a lot of competition for the attention of a small pool of buyers. To get their attention, you need to do some unique things.
The first thing you learn when getting into real estate is the location rule. The nature of your neighborhood is critical. The better, the better your chances of selling. Play up the attributes of it in your marketing material.
Ah, but what if you have a problem neighbor or two? You know. The ones who have a front yard that looks like a jungle? Offer to have the landscaping done for them. It will probably embarrass them into taking action. If not, it is money well spent.
The next bit of advice has to do with pricing. You need to objectively evaluate comparable homes around you. Identify the homes that are similar to yours in size, quality and so on. Now, adjust your price to the bottom end of their prices.
Obviously, the comparable homes in a neighborhood are not all the same. If yours is slightly better, pricing at the lower end of the listing range can be hard. Do it! Most sellers will group the homes together and not notice your fine points.
Given this, many homeowners just can't bear to cut their price. Are their homes destined to sit on the market? Nope, but you must aggressively market the differences that make your home superior to comparable ones.
One way to do this or just move your house is to offer favorable terms to buyers. We all want someone to show up with a suitcase of cash. It probably isn't going to happen. Offer to help with the financing by offering a second mortgage. It can make all the difference.
An obvious, but often missed, final step is to make small improvements to the property that carry big weight. Landscaping is usually cheap and can radically change the look of a property.
Besides landscaping, there are other minor tasks that can have a big impact. Clean your driveway and organize the garage. Cut back plants in front of windows to maximize lighting and views. Walk the house and just make little changes to the details.
About the Author:
Hal James writes about issues faced by FSBO sellers for FSBOAmerica.org, where you can get a free one month listing to sell your home by owner and get more real estate tips. Get a totally unique version of this article from our article submission service
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