Selling in a Buyer's Market: How to Ensure That You Get the Most for Your Home when You Sell
Some people who are planning on selling their home are fortunate enough to be in a situation where they can wait for the market to fluctuate to their advantage. Unfortunately many people do not have the luxury to wait and need to sell their home as soon as possible. So what is the best way to get a good deal when selling a home in a buyer's market? Well it's going to require hard work and determination.
Invest in Making Sure the Home is Ready
Selling a home in a buyer's market may take an investment in the beginning, but the important thing is making sure the money is being spent in the right places and the right way. While major renovations may seem like they will put a home at the front of the pack, it's not always the case. A smarter use of the money is to focus on any smaller repair that may deter a buyer who won't want to make the investment themselves. The problem with costly renovations is that in some cases they tend not to be neutral and can put off more people than they bring in, whereas a fresh coat of paint or new fixtures are a fraction of the cost but put a nice shine on the home for everybody.
Take Steps to Beat the Competition
When the competition is fierce, every home needs to stand out from the very beginning. A buyer's market is no place to make a mistake, only to try and repair it after the house has already been listed for months. Staging companies specialize in bringing in new and modern furniture on a temporary basis so that the house or condo is at its best when being shown. Renting a storage unit for clutter, miscellaneous items or older furniture is a small investment that can pay off in the long run and amazing photos with the home while it's clean and filled with modern décor can help lure in buyers who exclusively look online.
Work with a Professional in Advance of Listing the Home
The problem with having a home sit on the open market for any length of time is that the longer it sits there the lower potential buyers will offer. Homes that are not sold within a certain amount of time tell the buyer that the seller may be starting to get desperate and will accept a lowball offer. So how can this be combated in a market with too many available houses? A qualified and experienced REALTOR® can help a seller by putting out feelers and showing the home to any client they believe may be interested before listing it. This provides the seller with the advantage of having their home shown privately to interested parties for a limited time before it goes live. Selling a home when there's a lot of supply and not much demand can be a grind, but it's not impossible to get a great value as long as you are willing to put in the work needed. Make sure everything is completed in advance and the money is being spent in the right places and the offers are sure to come rolling in.