If you are looking to buy a home, it’s nice to have a lot of options. During a buyer’s market, there are more homes for sale than people to buy them. This puts buyers somewhat in control of the negotiation. And it means as the seller, you have to do something to stand out to attract whatever buyers are out there. If you find yourself trying to sell a home in a city that is more of a buyer’s market, you may have to work a little harder to make the sale. When it comes to standing out among a street full of “For Sale” signs, consider the following tips to grab those prospective buyers.
Think Like a Buyer
When you are trying to sell, the best way to reach buyers is by putting yourself in their position. Think of what would be important to you as far as renovations. This doesn’t necessarily mean you want to make a lot of expensive repairs, but think about small improvements that can make a big difference. Consider asking family and friends for their advice on what would make a difference in your home. Sometimes it is hard to see your home’s faults since it is so close to you, but buyers will be looking at each aspect carefully.
The first step in pricing your home is research. An experienced real estate agent can help you compare similar home values and how the sales played out. You also must be honest with yourself in this stage – if you cannot afford to wait for your home to sell, you will need to price the home to sell. If you have more freedom, you want to price your home competitively, not much higher than other properties but not too much lower. Buyers are likely to ignore homes that they believe are unrealistically priced.
When you are showing your home, it can be beneficial to leave furniture and decorations inside. Staging your property on your own or with a professional can help buyers envision living in the space. A clean, well-maintained home is wonderful, but buyers also want to see that their family can fit in and make it a true home. Establish a focal point in every room, displaying the unique features and desirable qualities that make it unique.
More on Mortgages and Homebuying:
- Why You Should Check Your Credit Before Buying a Home
- How to Find & Choose a Mortgage Lender
- How to Refinance Your Home Loan With Bad Credit
Image: Andreas Weber