Selling a house in a slow real estate market can be difficult. In times like these, it's not enough to simply list your home and wait, you actually have to be proactive to sell your home. No one really wants to sell anything when the market is down, however, it's not impossible to sell your house in these conditions.
Even though the market's not favorable to sellers and widespread economic recovery may be months, even years off, there are a number of tactics available to increase the likelihood of a sale. It just takes a positive attitude and a different kind of game plan. Here are eight tips to assist you in the selling of your home:
• Know Your Market - One of the most important things you can do to get your house sold is to learn your market, the value of your property and your competition. Most sellers operate in the dark, simply offering the property for the price they want, without regard to what other homes have sold for and are currently selling for. Undervaluing or overpricing your home can cost you tens of thousands of Rands. FPS Properties deliver a comprehensive market analysis of your property when doing a valuation.
• Price Your Home Right - With homes sales slowing and prices plunging, there's little doubt that selling for a good price in today's market is going to be tricky. So if you try to ask as much for your property as your neighbor got a year ago, you're going to turn off potential buyers. Instead, price your home conservatively by looking at similar houses currently on the market. Also look at the homes that aren't selling. Chances are those owners priced their homes too high. If you really want to stimulate a sale, you should underprice your property by just a little. Trimming the price by a few thousand Rands can generate more foot traffic and create a buzz.
• Make Your Home Presentable - Keep your house looking good at all times, repair things that are broken, and replace things that are rundown. Add a fresh coat of paint (neutral colors preferred), freshen up landscaping, trim trees, clean up clutter and remove personal items, so that prospective buyers can picture themselves in the home rather than seeing you there. To stimulate a quick sale, consider using a professional home staging service. Your property must make a strong, positive impression. Staging a home is the cheapest way to make a house look different from your competition so it becomes the most memorable one that the buyer saw.
• Be Flexible with Showings - It only takes one buyer to get your home sold. Don't make your estate agent feel as though their request for a showing is an inconvenience.
• Play Up Your Home's Best Features - If you have fireplaces, make sure that you have fires burning so that there is a beautiful warm glow and the sound of crackling. If you have a gourmet cook's kitchen, have some great-smelling treats baking in the oven. Turn on soothing music. Set all lights and lamps if the home looks dark or feels heavy. Lighting is crucial.
• Offer Flexible Terms - Often, the best way to sell a home more quickly in a buyers’ market is to adjust the terms of the sale instead of the price. While it may sometimes be necessary to adjust the asking price downward, or to negotiate a lower price with the buyer, sometimes offering an extended closing date will go a lot further.
• Be Patient - Selling your home may take longer than in recent years, so it's important to be patient and keep a positive attitude.
• The First Offer Rule - If you get an offer within the first few weeks, the tendency is for sellers to try and hold out for a better offer. This is generally a mistake. Usually the biggest fish bite first, so keep in mind that your first offer will often be your best!
FPS Properties offer the right marketing strategies to include all of the above tips
For môre tips and no how on property, please contact: