Selling real estate is a real challenge with today’s market. But don’t let the challenge scare you!
A challenge doesn’t mean that it’s impossible, it just means that you may need to alter your strategies a bit in order to win the selling game. Here are a few ideas to help you win the real estate game in this challenging time of real estate history.
The first key to winning in today’s market is to make sure that your house is at the right price.
Far too many home owners fall into the trap of over estimating the value of their property, basing the value on a perceived number. Perceived value is indeed just that, a value in the eyes of the beholder only!
Don’t expect to get any price you name in today’s market. Houses sell based on what buyers will pay.
In order to get a property sold, you need to entice buyers with a great deal, a deal that is better than any competition that you may have. If you’re fishing for Mr. and Mrs. Money Bags by putting a high price on your house, you might be sitting on the banks for a while.
However in fishing, if you put a really nice lure on the line, one that looks real attractive to the fish, this is when you start getting bites. The more bites, the more chances you will get of landing the sale.
So what is attractive while you’re fishing for buyers in a challenging real estate market?
THE RIGHT PRICE!
While this might mean less money in your pocket, imaginary value is zero dollars in your pocket!
Price your property right, and you’ll win the real estate game.
When you’re ready to list your home with a real estate brokerage like Idaho Country Properties, our agents gather comparable sales to establish the market value.
The next strategy to use in order to sell a house, lot or commercial property is to hire a listing agent.
Many property owners try to go about selling on their own, and while this may work in a sellers market, it fails miserably when it’s a buyers market. If you are serious about selling your property, you need a real estate agent to help you get your home in front of as many people as possible.
Real Estate Agents have tools for marketing at their disposal that private sellers don’t have access to, like the multiple listing service, for example.
In our area, the multiple listing service is Lewis Clark Association of Realtors. Members of LCAR, enter their property listings into a database along with all the data and photos. Those listings get distributed to a variety of websites and marketing portals, such as Realtor.com and Trulia.com In this way your home is exposed to buyers all across the state, and across the USA, something that you just can’t accomplish when you go about selling by yourself, unless you spend the money for extensive advertising.
What else can help you sell your home successfully?
Be willing to negotiate and take a serious look at all offers that come in. All too often, a low offer comes in and it hits a nerve with us, as sellers. It’s pretty easy to just get mad and reject the offer right away. But keep emotions in check, and seriously consider all offers that are brought to the table, along with a reasonable response. Buyers are fishing too. So don’t play into their hands but be realistic when you are devising your response.
When it comes to offers, receiving an offer is much better than no offer, and in a tough market, holding out for a better offer could spell doom for your plans of selling.
Closely related to considering all offers is being flexible and willing to accommodate your potential buyers.
It’s pretty common in this market for a buyer to ask the seller to contribute to their closing costs or some other consideration. These small details can often make or break a deal, so being willing to negotiate will give you more advantages than just closing your mind to any potential deal making.
In summary, selling a house can easily be done in today’s market if you are willing to be flexible and reasonable during the selling process.