How long have you had your home for sale? Have you listed your home with a number of agents, but still haven't found the right buyer? There are a few things that are of the utmost importance if you want any chance of selling your home in this slowing economy.
First of all, price is still driving the market. If you have gone a month without any showings your price needs adjustments. Buyers today are very educated and know the market much better than they ever have before, and when they see a home that is overpriced, they are not going to look at it. Location, Location, Location is a popular saying in real estate, but I believe in this market it should be Price, Price, Price. The homes that are priced right and competitively are going to get showings. Another way to know if your home is priced correctly is to get good feedback from showings. If the agents who are showing your home are telling your agent that the price is too high, this is a sign that something needs to be done.
Secondly, outdated homes rarely sell, and when they do they get beat up on price. So make sure your home is updated and looking great. Old furniture and old carpet needs to go, and if you can get a home stager in the home that is great. There are so many homes currently on the market that one bad feature will send the buyer looking elsewhere. One thing that I have seen a lot of is seller's offering an allowance to buyer's for updates on their home. The problem with this is that it is hard for a buyer to imagine what the home would look like with these upgrades. Most buyers will continue searching until they find a home with the updates made, and at a similar price.
Finally, quality pictures are important for marketing. When your Realtor comes to take pictures make sure he shows you what he takes. I find too many listings with dark, blurry, and unappealing pictures. There are still agents who think it is cleaver to take one picture of the outside, and leave what the inside looks to the buyer's imagination. Too bad the buyer's are imagining there must be something wrong with the home. Why else aren't there pictures of the inside? The listings that are being shown the most are the ones with good, clear, and quality pictures.
If you decide to become motivated with your price, are willing to make the changes necessary to update your home, and have a Realtor who will take good pictures, then you have a great chance of selling your home even in this slow economy.
First of all, price is still driving the market. If you have gone a month without any showings your price needs adjustments. Buyers today are very educated and know the market much better than they ever have before, and when they see a home that is overpriced, they are not going to look at it. Location, Location, Location is a popular saying in real estate, but I believe in this market it should be Price, Price, Price. The homes that are priced right and competitively are going to get showings. Another way to know if your home is priced correctly is to get good feedback from showings. If the agents who are showing your home are telling your agent that the price is too high, this is a sign that something needs to be done.
Secondly, outdated homes rarely sell, and when they do they get beat up on price. So make sure your home is updated and looking great. Old furniture and old carpet needs to go, and if you can get a home stager in the home that is great. There are so many homes currently on the market that one bad feature will send the buyer looking elsewhere. One thing that I have seen a lot of is seller's offering an allowance to buyer's for updates on their home. The problem with this is that it is hard for a buyer to imagine what the home would look like with these upgrades. Most buyers will continue searching until they find a home with the updates made, and at a similar price.
Finally, quality pictures are important for marketing. When your Realtor comes to take pictures make sure he shows you what he takes. I find too many listings with dark, blurry, and unappealing pictures. There are still agents who think it is cleaver to take one picture of the outside, and leave what the inside looks to the buyer's imagination. Too bad the buyer's are imagining there must be something wrong with the home. Why else aren't there pictures of the inside? The listings that are being shown the most are the ones with good, clear, and quality pictures.
If you decide to become motivated with your price, are willing to make the changes necessary to update your home, and have a Realtor who will take good pictures, then you have a great chance of selling your home even in this slow economy.
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