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Selling a Home in Today’s Market

Gone are the days when putting a For Sale sign in the front yard would start a flurry of activity that would make your eyes widen.  Four years ago sellers actually were faced with the difficult decisions of which offer they should take.  The “all dressed up with no place to go” is the new state of normal.  

There are several factors that go into selling anything and a house is no different.  Marketing strategizers spend hours around boardroom tables deciding on the best way to promote the latest widget and elevate it to the next “must have” craze.  Success in selling a house requires the same marketing strategies. It is not one thing that is the key.  It is a whole ring of keys working together that will open the door to lure those buyers in and stir up their desire to make an offer.

Price – It is no longer reasonable or prudent to over value your house to see if you can trick buyers into paying what you feel the property is worth.  The market is what determines the value of your house.  A Comparative Market Analysis will show you what comparable homes in your area have sold for.  This is your best barometer.  Price your home atmarket value.  Buyers today are very savvy and will skip over homes that appear to be overpriced thinking that the seller is going to be difficult and they don’t even want to get involved.

Staging – Having your home absolutely market ready, not a work in progress, is crucial.  You will never get an opportunity to allay buyers’ objections to things that should have been addressed before the house went on the market.  The product that you are selling needs to shine, grab their attention, and make buyers want to linger to bask in the good feelings they have while they are there.  The small investment in a consultation from a stager will yield a much larger return than not having one.

Aggressive Marketing – In order to get in the game you have to have an agent who is willing to go the distance for you.  Maximum internet exposure, excellent photos showcasing your home not your furniture, virtual tours all are tools that successful agents use to promote properties.  No one element does the trick; it is a combination of all.

Incentives – It often comes down to your house versus two or three others that buyers are considering.  If you offer a carpet allowance, closing cost assistance, or even a home warranty, which home do you think they will choose?  Incentives are just that– a little extra bonus that says “Buy me and you’ll get
more.”  Don’t you go for the product that offers a rebate or discount when choosing between several?

Luck – Yes, I must admit that some of it does come down to that.  In this market we do have to have all the stars aligned—buyers with relatively stable jobs, non-contingent status, good credit, and a desire to make what is yours theirs.  

It is important to listen to the experts.  They are out in the marketplace doing this every day.  They listen to what buyers are asking for and they have the most current reading on the pulse of the market.  You truly should not this all by yourself– not in this market.  You will only wind up hurting yourself in the long run by being on the market a prolonged period of time which will ultimately yield a much lower sale price.

Source: Realtor.com
Original Author: Bob Kelly
Edited By: Melisa Winter