Houses for sale Real estate Realtor

Tips for Selling Your House in a Buyer’s Market

Real estate

As spring time approaches, you are likely to see an increase of for sale signs. People spend the cold, winter months preparing their houses for sale. They know that there will be an increase in home buyers in the spring, and thus, list as soon as the cold weather breaks. What is the problem with this model? The increase of home owners listing their homes quickly turns the market into a buyers? market, and sellers are forced to accept less and sit on their houses for longer. How can you increase your chances of selling quicker and for closer to your asking price?

Pay close attention to the market
Paying attention to the market is an important real estate step, not only for the home buyers. Homeowners who are attempting to sell their house should also keep a close eye on selling trends, especially in their direct neighborhood market. Keep track of the local houses for sale, paying special attention to any within a mile from your house. Pay attention to how they are priced, how new they are, and what amenities they feature. If it sells, compare it to your home and your asking price, and adjust accordingly.

There was only a median of 14 miles between the homes that recent buyers purchased and the homes that they moved. It is likely that the parties that will be interested in your property are already local, making it even more important that you watch the local houses for sale in your area. Work with your listing realtor on adjusting prices, as buyers tend to make offers on houses for sale based on recent sales in the area.

Make home improvements
Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 34%. Buyers who purchased previously owned homes were most often considering a better price at 32%. Known problems with the house give the potential buyer a reason to offer you a lower price. Some needed repairs may also prevent the home from passing an inspection, something that is often needed for mortgage loans. It can actually be helpful to hire an inspector to provide you with a report similar to what an interested buyer might get.

Work with a real estate professional
Some home buyers may be tempted to list and sell their home by owner to prevent paying real estate commissions. However, studies show that a house for sale by a real estate professional sells faster and for more. Realtors not only have negotiating skills, they have access to resources that non real estate professionals do not. Approximately 78% of recent buyers found their real estate agent to be a very useful information source. Online websites were seen as a very useful information source at 82%. The real estate professional can be especially beneficial when listing houses for sale.

Be available
There are likely to be many houses in your neighborhood for sale come spring. Buyers only look for so long before making an offer on a house that meets their needs. It is important to be available, meaning allowing showings often. A buyer who may have purchased your home for sale otherwise, may find another suitable option if your showing schedule is infrequent. If you are still living in the house during showings, try to open up showing times a couple times a week. If you are no longer living in the house, allow agents to show the house immediately upon request. This will increase the amount of viewers, thus, increasing your offers and chances of selling quicker.

Spring is a popular real estate season. Sellers tend to list their homes, creating more of an inventory for buyers. For this reason, sellers need to be more involved in the selling process. They should keep an eye on local homes for sale, make any necessary repairs on the house, keep an open showing schedule, and work with a professional real estate agent. These tips will increase the amount of traffic in the home and will usually result in a faster sale.

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