Selling in a slower market
You have seen the stories on the news, and read the articles in the newspaper. The cyclical real estate market has taken a turn, and conditions in most parts of the country now favor the buyer. Often referred to as a “buyer’s market,” this means that the inventory of homes for sale exceeds the consumer demand. As a result, buyers can be more selective, and more conservative, with their offers. The Summit County real estate market is not being affected too much by this market cycle, but we have seen some slow down in certain market sectors, and some sellers are starting to lower their asking prices.
If you are trying to sell a property in a slower market sector, you can use these three steps to help your home go from “For Sale” to “Sold.”
1. Price It - The number one thing you can do to help our home sell in a buyer’s market is to price it right. A knowledgeable buyer, and an experienced real state agent, will know value when they see it. If you price the property too high, you are unlikely to receive offers, since buyers know there are plenty of properties to choose from. Also, if you are forced to reduce the price bit by bit, buyers will not always revisit an old listing, especially if new offerings are continually being added to the MLS.
2. Make it Show - Make your property stand out from the rest. Do the required prep work, both inside and out, to give it the curb appeal, and charm, that will pique buyer interest. Follow the advice of your
Realtor, to help the home “show well.” Clean the clutter, shampoo the carpets, refinish the floors, paint the walls, etc. You, or your Realtor, should
Stage your home before each showing by turning on lights, opening blinds, clearing sidewalks of snow, and having heat on at a comfortable temperature. In a buyer’s market, you have to do everything you can to make your property rise above the rest.
3. Choose Wisely - Hire Century 21 Real Estate Agents who has the experience, and network, to get your home sold. In a buyer’s market it is critical to have a professional who is working non-stop to set your home
apart, and bring in potential buyers. A good Realtor like Century 21 Real Estate Agents will help you set the right price, tell you how to stage the home, market your property aggressively, and guide you through negotiations.
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