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Homes for Sale – 7 Tips for Selling in a Slow Market

In the last decade, home sales have gradually become a buyer’s market. Although this is good news for the buyer, it is becoming something of a nightmare for those who are trying to sell their home. Because of this, sellers often have to drastically lower the price of their homes to make the sale, resulting in huge losses. However, there are ways to increase the chances of making the sale without the seller having to take a huge loss. The following will be a list of seven tips for successfully selling a house in a slow market.

1) Appearance Is Key: When looking to buy a home, a buyer will naturally gravitate towards homes that have a pleasing appearance. Fixer-uppers aren’t as popular as they used to be. The first thing a seller should do is fix anything that might catch a potential buyer’s eye. For example, the patio must look immaculate at all times. If the gutters on the house are sagging, that will be the first thing people will notice. If there is chipped paint in the house, paint it. It is well worth the money to stage your property for curb appeal.

2) Be flexible: Be prepared to sneak out on the weekends if you have to so the real estate agent shows you the house. Keep things tidy at all times for any last minute appointments made by prospective buyers. Try not to limit the times you are willing to provide access to housing.

3) Keep the house at market value: If you’re stuck in the mindset of making a lot of money from the sale of your house, chances are your house will be on the market for years. The best way to ward off potential buyers is to list the house for above market value. Keeping the house for sale at a reasonable market price means there will be more interest in attending an open house, which will improve your chances of making the sale. It is a well known fact to real estate agents that if the price is right, there is a buyer for every house.

4) Find an agent with a long history of selling in your city: A good real estate agent will know exactly how to determine the fair market price for your home. You must also have a record of being able to sell a home within three to four months. A real estate agent with experience selling properties in your particular neighborhood will be able to guide you through the process in an efficient and timely manner. If you have a real estate agent who doesn’t have many years of experience, you’ll be wasting valuable time and money while you’re still working to perfect your craft.

5) Give the house a warm and welcoming feel: If the walls in your house are painted in vibrant colors, tone them down with neutral shades of tan and beige. This will allow potential buyers to visualize their own furniture in the home without distractions. Create atmosphere with lightly scented candles in bedrooms and bathrooms. Soft and relaxing music in the background will give the buyer a relaxed and comfortable feeling. Buy new bedding for the beds and cushions for the sofas. Give your home that “homey” feeling everyone is looking for.

6) Do your research: Go to open houses and see the other houses that are on the market in your area. See what they have to offer a potential buyer. If they have a cozy sitting area in the master bedroom, create your own cozy sitting area to attract those potential buyers. You’d be amazed at the things you can do with just a few oversized cushions and a window with a view. Gather ideas from other houses and use your imagination for the rest.

7) Offer incentives to potential buyers: When a buyer is interested in buying your home but wants you to lower the price, try using other incentives instead. For example, you may want to offer to pay the buyer’s closing costs. This is always tempting for buyers as it will save them money and allow them to have more money for a down payment. Some sellers choose to include appliances such as a refrigerator, dishwasher, or washer/dryer.

In a buyer’s market, the seller is tasked with being inventive in finding a way to move their property. Making the sale isn’t always a piece of cake, but with a little effort, it can still be done quite successfully.

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