Barb's Farm Community

Selling Your Home in a Down Market

Things to do and think about when trying to sell your home

Times have changed and unlike a few years ago, it is not easy to sell a home in today’s depressed real estate market. If you are not in a position to stay in your home and “wait out the storm”, you must be prepared to go beyond the usual to sell your home. Below are some tips to keep in mind when selling your home.

1. Do the Research: Visit open houses in your area to get a feel for pricing and to see how other people are presenting their homes. You need to think like a buyer to sell in a down market.

2. Make it Show Nice: Don’t spend a lot of money, but make sure everything is in good working condition and try to make it look “homey” by making it clean and clear of “clutter”. Remember its like your home is on a first date and it needs to make a good first impression.

3. Price it Right: After visiting homes in your area, price your home below your neighborhoods most recent comparable prices. In a down market it makes no sense to price your home at the same price your neighbor is asking. You don’t want your house to remain on the market for a long time while you continually lower the price, so price it right the first time.

4. Offer a Bonus: Consider offering a cash bonus to the agent who brings a full price offer within a specific timeline. Or consider paying for the closing costs up to some maximum limit.

5. Hire the Best Real Estate Agent: In a down market you need to have the best real estate agent you can find. Typically you want someone who is aggressive and has been in the business a long time. Call your local real estate office and ask for their top sales person. Interview several agents and ask them to present you with a detailed marketing plan. This is not the time to have a “friend of a friend” handling your home sale!

6. Help your Agent: If you really want to sell your home quickly, you don’t want to just rely on your real estate agent and the MLS. Get out there and market your home using web sites such as Zillow, Trulia, Craigslist and others. You are going to need to go the extra mile, so get creative and market your home in as many ways as possible.

Source of article - Neighborhood Link

Tip #7 - not from Neighborhood Link

7. Utilize Real Estate Agents Living In Your Community: Don't forget those agents living in your community. They may have more of a vested interest in getting your home sold for the best price... commission as well as generating a comparable sales price. An agent from your community would be more interested in getting the best value, since your home sale would affect the value of all future home sales in the community...which their home is a part.

Check with your neighborhood association members to find out who may be an agent in your community.

Good Luck with your sale!