Here are 5 ways you can help to sell your property in a slow market

9/12/2016


With the current situations of unemployment and economic hardships faced by many people in the country, the number of people willing to buy a home may also decrease significantly.  Undoubtedly, it is quite a stressful task to sell your home in a slow housing market. But, at the end of the day, a good property will always have its potential buyers.

Knowing how to prepare your home for sale, when to allow access for showings, and how you can offer buyer incentives will help you find the right buyer, even in a declining market.

To be able to sell your home successfully, you have to have a sound knowledge of your property and your target market should be at the top of your sales strategy.

Here are 5 ways you can help to sell your property in a slow market:

Be Realistic
Make sure you are flexible with your sale price.  Be realistic in your expectations of the price you will be able to sell your home for. Forget about what you paid five, seven or ten years ago. That number is irrelevant.  Forget about what could have been if you had sold it last year and focus on what your home is worth now. In a buyer's market, buyers don't have to negotiate much. Buyers know that you want to sell your home and a home that is priced too high is likely to be looked over. Ask a fair price for your home to avoid the need for too much negotiation.

Agents can Help
Find an agent with experience selling homes in your market to  help ensure correct pricing. When deciding on a real estate agent, find out how long it usually takes him or her to sell a house. It's best to choose an agent whose properties sell in an average of three or four months, a time frame that indicates the agent understands how to price the market. For broader coverage, you can go to multiple agents, just make sure you check your contracts carefully, so you only ever have to pay the agent who actually sells your home. Ask friends and neighbours for their recommendations as well as looking for the one who has the most ‘For sale’ boards in the area.

Keep it Tidy
Before you even put your home on the market, make sure that all basic repairs are completed. Nothing can turn off a prospective buyer quicker than loose railings, torn screens or missing hardware on cupboard doors.  If a home-buyer sees that the little things are not attended to, they are likely to believe that the larger things are neglected too. Let buyers know that you have pride in your home by making sure that all of the repairs are taken care of.  Keep your garden tidy, the lawn mowed, polish the door furniture, and if it’s looking shabby, consider a lick of paint on doors and window frames.

Present it Well
The key is to present your property as the dream home or dream investment. Your target is to create the desire to buy and the emotional bond between property and buyer. Keep it modern if you’re eyeing a young market.  If targeting empty nesters, you can get away with older-style furniture & traditional paintings. Kitchens and bathrooms sell homes. To add a homey effect, you can also set the dining table or put fresh flowers in spring. De-clutter and keep the furniture at a minimum. The reason for this is that most buyers, especially those looking for unfurnished properties, would be decorating themselves and would like to inject their own tastes and preferences. It would be difficult for them to mentally play with the design of the interior if it is overly furnished. Create an ambiance that says “this is for you” but make sure it also appeals to a cross section of market segments.  This also makes it easy to navigate through your house.

Advertise
Promote your property through as many channels as you are able. Market everywhere, including via socia media,  to maximise opportunities. Posting a lot of photos also helps in generating the interests of those buyers who are looking for a place like yours. You must not presume that people will already know the little things. Showcase all the big and small features.  The more people that are aware your house is for sale, the more likely you will get interested buyers and a sale.  Tell everyone you know. If allowed in your neighborhood, place a For Sale sign in your yard.  On top of that, it doesn't hurt to make quick video tours of your properties to attract some attention. Some of the results you can have with video can be pretty amazing!

Selling your home can be a stressful time, but you can be successful in selling your home if you remain patient, reasonable and flexible. There are buyers out there and the key is to find them and get them to fall in love with your home.

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