Selling Well in “A Buyer’s Market”
Everyone is saying “It’s a buyer’s market,” but now still may be a good time for you to sell. Last week, we blogged about what “a buyer’s market” really means to buyers. (Hint: It’s not a free ticket to walk all over the seller.) Now let’s look at what it means to sellers. The most important thing is to know yourself and your own unique situation. Even though it’s a great time to buy, overall, it may still be the perfect time to sell—for you. Your home, your location, and your financial situation may put you in a great position to sell, even in “a buyer’s market.” If it is selling time for you, here are a few things to keep in mind to sell well in this housing market:
Know what your home is worth. “Fair market value” means the current value of your home, keeping today’s lower housing prices in mind. Find out the fair market value of your home, and stick to it when negotiating a sale. Offer a fair price, and be willing to negotiate, but don’t let buyers get away with lowball offers or bullying you for too many add-ons or concessions. How do you find out what your home is worth? Get it inspected and appraised early in the process. Also find a real-estate agent you can trust, and follow his or her advice when setting your asking price.
Do little things to increase the value. Definitely clean and de-clutter your home as completely as you can before showings. Clean and trim your landscaping for better “curb appeal.” If small repairs are needed, like re-caulking the bathroom or filling cracks in the driveway, be sure to get them done. Coldwell Banker suggests that home improvements and additions can increase your home’s value, too—just keep the changes within your own budget.
Be willing to add creative perks. While you don’t need to give in to unfair demands from buyers, it can help you to offer some perks—like help with closing costs, or appliances left in the home for no extra charge—to sweeten the deal. Figure out what you can afford to offer, and stay flexible.
Get an experienced Realtor to help you. This is the key to buying well or selling well in any housing market. A good seller’s agent will help you find out your home’s true value, set a price that’s attractive to buyers and fair to you, show your home at its best, and negotiate a good deal. Find someone with experience and solid knowledge of your local housing market. Once you’ve found an agent you can trust, follow his or her advice. You’ll be glad you did.
The Staff at San Juan Realty, Inc.
Tags: Home Selling Tips, housing news
