For-sale signs have taken over your block, the local jobs market doesn’t look great, and big red price reduction labels tarnish most of the online home listings in your area. You’ve got enough evidence to conclude that you’re in a slow real estate market and the odds aren’t in your favor when you sell your house.
Since you can’t wave a magic wand to change the state of the economy or suddenly increase the pace of home sales, you’ll need to channel your competitive side and think of this as your next challenge. Even in sluggish markets, houses still sell. Make yours one that does with the right game plan by following these tips.
1. Present Your property at its best
The way your property is prepared and presented to the market is always important. However, with a smaller pool of buyers and ample options, it’s crucial to ensure you do all you can to get your property to stand out from the crowd.
The extra effort you make to present your property at its best can make all the difference. For specific advice on preparing your home for sale, please check out my blog article – 8 simple tips to prepare your home for sale and maximize your result.
2. Set the right price expectation
Ensuring that you have a realistic price expectation from the outset is vital in the current market environment.
Buyers currently have so many choices and are not in a particularly urgent mindset. If they assess your property to be overpriced, they may bypass it and purchase a better value offer down the road. Even a few percentage points ‘off the mark’ can result in a lengthy marketing campaign and little or no genuine interest. Ensure that you work through a robust appraisal process before commencing your marketing, and be very wary of the agent who provides a high appraisal (compared to others). This may be pleasing to you at the time, but you won’t be thanking that agent after months on the market and several price reductions.
‘Chasing the market down’ can be a pitfall in a slower market. This is when a property owner’s price expectation is set too high at the outset. Then, over a period with no sale secured, the seller adjusts to a more realistic level. However, in the meantime, the market has fallen further, so the newly revised price is still too high, and a sale still cannot be secured.
3. Invest in quality marketing
Quality marketing is always important, regardless of the prevailing market conditions. When the market is in a cooling phase, it becomes even more critical to your outcome. When there are many alternative listings for buyers to consider, it is so essential for your property to stand out. When prices and sales volumes are down, the investment you make in your marketing campaign must be strong.
4. Select the right agency
I am sure that most sellers would agree that when the market is subdued, it is so important to engage with an agency that can reach every potential buyer.
5. Select the right agent
When the market is hot, agents of varying degrees of skill and dedication can make sales. When the market is scorching, a property may still sell despite the worst efforts of a poor agent! When the market has cooled off, the agent selection you make can impact whether your property will sell or not.
If your agent isn’t organized, committed, strong in your area, honest with their appraisal, a skilled marketer across all media channels, and a strong negotiator, they are unlikely to be capable of delivering results in the more challenging conditions which currently prevail.
If you want to skip all these steps and take a more hands-off approach to the selling process then perhaps you should contemplate selling your house to a cash home buyer.
When selling your house for cash to the we buy houses company, you ensure an easy and fast cash deal for your home, without any extra work that comes with a traditional sale. These conveniences make we buy houses companies an excellent option for people looking to sell their houses as quickly as possible.
What Makes Cash Sale So Desirable?
We buy houses company, in most cases, will give you a cash offer within 24 hours. If you choose to accept their offer, then a good cash home buyer can close in as few as seven days. This is the quickest that a house sale can be achieved.
We buy houses companies also like to make their clients comfortable. You will not have to clean the house or stage the home for clients. In most cases, you will not even have to repair the house or do any maintenance work because most we buy houses companies purchase houses as-is.
The promise of a fast house sale for cash without the need for repairs makes a cash sale highly desirable to people looking to sell within a set time limit.