5 Tips for Sellers in a Buyer's Market
Many real estate markets across the country are starting to regain some balance, with rising prices leveling off just a touch and the number of homes available for sale starting to tick back up. What does this mean if you’re ready to put your home on the market? A slightly adjusted strategy! Here are a few important tips to follow for selling your home as the market swings more to the buyer’s advantage.
Pick a good real estate agent. First and foremost, do your homework and pick an experienced agent. When inventory is scarce in a red-hot seller’s market, it doesn’t take much to sell your home. When the opposite is true, you’ll need a savvy agent to help get your home sold in the shortest time for the best price.
Price it right. Speaking of price, heed your agent’s advice on how to price your home properly. If your market has shifted, the bidding wars of a few months ago may be a thing of the past. Pricing your home too high could leave your home waning on the market for months on end. Work with your agent to choose a competitive listing price.
Step up the marketing. Make sure you’re deploying the very best marketing plan for your home, including professional-quality photos (and plenty of them), videos, social media, and exposure on listing portals. Ask your agent to walk you through the details of the marketing plan so you understand exactly what tactics they have in their arsenal.
Set the stage. While you may be able to leave the living room walls turquoise in a seller’s market, when buyers rule the roost, you probably want to take the time to make your home attractive to as many buyers as possible. So paint the walls neutral colors, declutter and stage every room, and spend a few bucks on landscaping. You may also want to invest in any necessary repairs that a buyer might have acquiesced to in a hot market. Whatever gives your home an edge over the competition will matter.
Remember, be patient. If you’re expecting to flip your home, now may not be the best time to sell. Talk to an expert agent with great knowledge about the local market to get a realistic picture about days on market and current sales prices, then make your decision.
Reprinted with permission from RISMedia. ©2018. All rights reserved.