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Selling Smart in a Buyers Market
In a Buyers Market, there are more homes available for sale than buyers interested in purchasing them. Homes generally take longer to sell and prices tend to drop. With a greater supply of houses to choose from, buyers are more likely to be selective. In order to attract more potential buyers, a seller needs to have a plan to make their home stand out from the competition.
Setting a realistic listing price is one of the most important factors when selling a home. Yet many home sellers make the mistake of overpricing their home which can diminish their chances to sell in a reasonable amount of time. Overpricing can cause a listing to remain on the market longer, and is one of the main reasons why a home might not sell.
The listing price should be established based on the current market conditions and not on how much you want to net from the sale. The ultimate sales price will be determined by what the buyer is willing to pay in today's market. Avoid pricing your home based on needs or emotions as this may inflate the home's true market value. In order to determine your home's value, your Realtor will need to perform a Comparative Market Analysis (CMA) for comparable listings and sales of similar homes in the neighborhood.
Also, make a list and repair or replace everything that is defective, broken or worn out. Doing some quick fixes before selling a home usually pays off! Below are some additional strategies to help you optimize your home sale in a buyers market.
Boost Your Curb Appeal
Does the front door of your home look appealing? Sprucing up your home's exterior can add value to your home while providing a welcoming atmosphere.
Consider these tips to help spruce up the appearance of your home while increasing your home's value.
Home Staging to Sell
Staging is the process of preparing your home to sell so that it looks its best for potential buyers. The following staging techniques can help increase your home's value and better your chances for a quick sale.