Best Tips For Selling Your Home in a Down Economy -Part 2
Here are the remaining 5 tips to selling your home during a difficult economic time to help you get the most out of your investment.
Home Selling Tip #6: Price your home right.
Of all of the 10 tips for selling a home, this one is the most important. You need to price your home competitively, perhaps slightly lower than comparable homes in your neighborhood. Unfortunately, many sellers choose the real estate agent who suggests the highest listing price, but this can come back to haunt you. Pricing your home to sell involves looking at similar properties, making adjustments for the differences between them, tracking market movements and considering present inventory to arrive at a realistic value for the price of your home. Setting your listing price just right could lead to a bidding war, resulting in a higher sales price for you. Work with your listing agent to price your home correctly.
Home Selling Tip #7: Capture initial excitement.
Don’t put your home on the market before your home and you are completely ready. Make sure you have taken all of the steps above before placing your home on the market. When selling a home, you need to get the most out of the initial excitement that a new home listing creates in potential home buyers. Home buyers will feel like they have discovered a great find if they snatch up a home just as it comes on the market. Once it’s been listed for a few weeks, however, home buyers will conclude that it’s not such a great value. Therefore, when selling a home, make sure you’ve done everything you can to make your home attractive to potential home buyers.
Home Selling Tip #8: Don’t get in over your head.
Put your home on the market well in advance of looking for a new home. Don’t place an offer on your next home until you have solid offers on the one you have to sell now. The last thing you want to do is juggle two mortgage payments.
Home Selling Tip #9: Only divulge information on a need-to-know basis.
Don’t do anything to create a perception that you will lower your potential selling price. For example, if you are moving due to job relocation, don’t offer up that information. Don’t let the potential home buyers think there is any urgency on your part in selling the home. If you are asked why you’re selling, simply say that you’re ready to trade up. You have a legal obligation to disclose information about the condition of the home and property, but you are not obligated to disclose your personal situation.
Home Selling Tip #10: Be flexible.
Be willing to work with potential home buyers to help your chances of making a quick sale. Offer to pay for closing costs or repairs, and be adaptable when it comes to showing your home and holding open houses. If you really need to sell, you need to accommodate buyers’ busy schedules. This might mean opening your home to strangers on weeknights and weekends.
Using these 10 tips when selling a home can help you sell your home fast and for a good price. Do you have any additional home selling tips you’d like to share? Please comment and let’s make this top 10 list even stronger.