Selling a Home in a Buyer’s Market
It’s a buyer’s market, but don’t despair. The sale may take a bit longer, but a few tips can help you sell your home at a fair price.
Price your home according to the Current Market
The key to selling a house is to “price it right.” Your real estate agent may encourage a list price in accordance with others currently on the market, rather than those previously sold. If your price is too high, potential buyers may not even look at it.
Offer Incentives
Offer incentives to attract buyers. Besides a low price, incentives may include offering a unique home warranty package, paying non-recurring closing costs or providing flexibility about the move-in date.
Get a Professional Home Inspection
Nothing will kill your deal quicker than a buyer’s inspector finding a major problem during the inspection process. Spend that little extra and have a home inspection. Be sure to have the home inspection report available for prospective buyers.
Be Flexible
In this market, buyers will expect to pay less than the asking price. Don’t simply reject their first offer. Instead, make a reasonable counteroffer. You will have to be more flexible than sellers have had to be in recent years.
Make your home More Marketable
First impression is everything. Make sure the house is in top-notch, move-in condition, Maximize the curb appeal. A well kept lawn, fresh paint, uncluttered space; do what is necessary to make your house stand out from the competition.