Advice For Sellers In A Slow Real Estate Market
Whether you care about it or not, the real estate market has ground to a slow trot. Selling a home can be difficult and requires you to return to the time-tested basics of selling a home. Here are some keys to remember and use.
1. Make your home available. It would probably help to just accept that your home is in the public domain from 9 A.M until 9 P.M. daily until it’s sold.
2. Buyers are always going to offer less than the asking price, so make sure to list a sales price that is higher than what you want. This gives you wiggle room to negotiate and avoids a situation where you are trapped by your initial asking price.
3. An attractive brochure can help you sell your home. A brochure that looks like a home featured in a magazine does the usual “memory jog” for people who have toured the house, but it also “adds value”.
4. When selling your home, be realistic about your asking price. You can check public record at the courthouse, or in many cases on-line, for the amounts of recent sales in your neighborhood.
5. Some offers for your home are superior than others. A contingent sale is a bad one. The potential buyer makes their offer contingent on selling their own home first. Avoid these like the plague.
6. Many people try to sell real estate with an “as is” qualifier. The idea is this protects them from any claims the failed to disclose problems with the property. This assumption is incorrect. If you sell a home with problems, you must disclose them.
7. You want to put your home on the market and want to be sure it will “show well.” What do you do? Clean, clean clean! No home ever failed to sell because it was too clean. Pare down and organize what’s in closets, garage, kitchen, and laundry.
8. If someone gives you their word they’ll do something, but doesn’t put it in writing, you can’t force them to do it. Make sure you get everything in writing!
9. Whether buying or selling, you’ll want to take a close look at comparable homes in the neighborhood. Do not pay much attention to the listed prices. Homes do not sell for the listed price. Focus on the actual sales prices of recently sold homes.
10. When it comes to negotiating on the buy or sale of real estate, it is important that you know what you want. Most people just have at it off the cuff and later realize they really didn’t do a good job.
At the end of the day, the real estate market slows down and speeds up. It never comes to a halt. Put another way, you can always sell a home. You just need to pay attention to the details and now you can.
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