Successful Real Estate Agents Reveal Tips for Selling a Home during a Slow Market

Most people are aware that the real estate market has taken quite a hit in recent years. In order to sell a home in the current financial environment, homeowners need to be aware of a few tips that will improve their chances of selling at the best possible price.

Set the Price Based on the Current Market

Gone are the days when a homeowner can simply name a price and wait for a buyer to show up and accept it. Demand for property is not as strong as it was and there are a lot of homes on the market. This puts the buyer in the driver’s seat. This means that a seller must price their home based on the current market value. Otherwise, it may not sell.

If the home is priced higher than market, it will push away potential buyers. Buyers do not generally look at an overpriced home and then make a much lower offer. Homes that are priced at a premium simply don’t generate any interest in today’s real estate world.

photo credit: reclaimedhome via photopin cc

photo credit: reclaimedhome via photopin cc

Get All the Repairs Completed

At one point in the not so distant past a seller could simply keep the lawn mowed and add a fresh coat of paint to the interior before selling the property. Any necessary repairs would be handled by the new owner. However, buyers are now looking at all types of homes. Cheap foreclosures and short sales are quite common. These homes that are in need of repair are often much cheaper than a home in ready-to-move in condition. In order to get any interest in a home priced at its true value, the home will need to be in tip top shape.

Be Ready at a Moment’s Notice

Real estate agents may show your home at almost any time of the day. Some out of town buyers request last minute showings because they happen to be in the area that day. Therefore it is important that the home is clean and ready to for a showing at the drop of a hat. Keep the kitchen tidy and make up the bed every day. Find a place that you can go on the weekends. This will make it easier for agents to show to prospective buyers without the need for a 24 hour notice.

Communicate with Your Real Estate Agent

Make sure your agent understands all there is to know about the home. The improvements, the repairs and the time that you have lived in the home are important. Also letting them know the amount that you are willing to sell for, bottom line, can help. This will enable the agent to do a better job of negotiating on your behalf without the need for endless conversations.

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