Understanding today’s real estate market can make all the difference between making a solid profit or experiencing some of today’s real estate doldrums. Getting the most from today’s tight marketplace means sellers and buyers need to apply the most current techniques to get an edge on the competition.
Here are some tips to gaining an edge in today’s real estate sellers’ market:
Make a Good First Impression
The first thing potential buyers will notice in a home for sale is the exterior. First impressions can make a huge difference in the chances of selling your property. Be sure to boost your curb appeal and help draw buyers to your property by presenting a clean, neatly landscaped lawn. Taking pride in your property inside and out can make a big difference.
Attract Potential Buyers
Having a joint open house with sellers is one way to attract potential buyers. This process is done by joining with two to three other real estate sellers in your area to combine your open house with theirs in an effort to bring more buyers into the neighborhood. One of the great plusses of joint open house days is that it gives buyers a chance to see how neighborhood residents interact.
Write a Seller’s Letter
Another great tip for selling your property is promoting your home and neighborhood to potential buyers by writing a seller’s letter that anticipates likely buyer questions and answers them. The seller’s letter could include relevant information about the neighborhood, information on the home’s history, improvements, or any other distinguishing features.
Be Prepared and Flexible
Be prepared to show your real estate property quickly since some buyers get interested in your house during their neighborhood visit to another property for sale. They may ask their agent to show them your property listing too. Flexibility with visitation hours may increase your chances of a sale and offer more opportunities to attract buyers.
Keep Interior Colors Simple
Once potential buyers begin to visit, remember to stick to a neutral color scheme such as beige or cream throughout the walls and accents. When walking through a home, potential buyers want to imagine living there and put their own vision into play.
by avoiding extreme color schemes and keeping it simple, potential buyers can see the home as they would want it.
Be Open to Feedback
When working to sell your property, remember to ask for feedback after your open house. This will allow you to understand where improvements might be made before your next visit day and help you attract more potential buyers. You can gauge visitor feedback by talking directly with visitors during the open house or by using visitor comment cards on other viewings.
Make the Price Right
In today’s market, buyers seem to be in the driver’s seat when it comes to negotiating a purchase. They’re also more savvy when it comes to knowing comparable sales in the area. It’s important for sellers to price their home in the range of similar homes. Even discounting it perhaps up to 15% below the fair price could make the home look like a better deal to potential buyers.
Market in the Right Season
Real estate purchasing can be a seasonal issue. If you can wait until the high season to offer your property, you might want to consider doing so. This is because during the off season, buyers may be looking to make a deal and might put in a lower offer during the negotiation phase because of less demand. Take time to consider whether you are going to offer your property during the spring, summer, or winter months.
Use Your Social Network
Social media sites like Facebook, Twitter, or YouTube help information reach larger audiences. Sharing information about your property with your social media network helps spread the word about your listing to not just your friends, but your friends’ friends. Use tools like photo galleries and video to share your home’s best features. Make it personal. Talk about what you love about the house.
Selling a home is never easy in a down market where inventory exceeds demand. By taking some of these steps and being proactive in creating the best experience for potential buyers you can improve your chances of selling your property and possibly make a potentially long and trying experience easier.