Tips for Selling Your Home in a Slow Market

Tips for selling your home in a Slow Market

Many homeowners are asking "If it's a buyers market then where are they and why is my home not getting any showings?" or "I've had lots of showings but why aren't I getting any offers?"

•1) Professional photos are worth a thousand words and thousands of dollars to you online. Hire a professional to do the job. It makes all the difference in the world, since buyers will often eliminate even looking at a home just by viewing the pictures. So it is crucial to have professional photos.

•2) Your home should be exposed on a minimum of 50 websites in addition to an individual website for your property such as www.123mainstreet.com. There should be a minimum of 15 professional photos plus a virtual tour. Top agents know the importance of working the internet in today's market. 80% of homebuyers search online for their home. The web creates maximum exposure in this competitive marketplace.

•3) Price your home competitively with your market. In many areas, sellers are pricing their homes between 2% and 5% below the lowest priced home in their neighborhood. Determine the lowest price that you will accept, and anything over will be a bonus.

•4) Stage your home, if necessary, by neutralizing colors, remove dated wallpaper, buff and shine hardwood floors, remove any pet or smoke odors, pack up any large pieces of furniture and as much clutter as possible. Take down old draperies and light fixtures. Staging is a sure way to sell your home the quickest and for top dollar. Take the necessary steps to create a pleasing view as buyers approach the home. Add a few flowers and potted plants for extra curb appeal.

•5) You can offer incentives to buyers, such as cash bonus, closing costs, buy down their interest rate to lower monthly payments or pay 6 months house payments for the buyer. Many sellers are offering agents higher commissions to get them to more aggressively market their property. You will definitely get more traffic to your home by offering a larger split: 3% or more to the buyer's agent. With the abundance of available inventory to choose from, it ensures that agents with buyers in that price range will at least show the home to their clients.

And, by all means, choose an aggressive Realtor with a successful track record in your area.