Need to sell your home? Economic conditions not right? We give you 7 ways to sell your house fast in a slow market.
In the past decade, home sales have gradually become a buyer’s market. Although this is good news for buyers, it has become a nightmare for those trying to sell their homes. Therefore, the seller usually has to significantly reduce the house’s price before it can be sold, causing huge losses. However, there are some ways to increase the chances of making a sale without the seller having to bear great losses. Here are 7 tips for successfully selling a house in a slow market.
1) Appearance is the key: When buying a house, buyers will naturally look good. Fixer-uppers are not as popular as they used to be. The first thing a seller should do is fix anything that might attract a potential buyer’s attention. For example, the yard should always be immaculate. If the gutter on the house sags, that will be the first thing people notice. If the paint on the house peels off, paint it. It pays to arrange your property for a containment appeal.
2) Be Flexible: If you need a real estate agent to display your house, be prepared to become scarce on the weekend. Prospective buyers should always be tidy at any last-minute appointment. Try not to limit the time you are willing to provide the house in and out.
3) Keep the home at a market price: If you are stuck in the mind frame of making a lot of money by selling your home, your house will likely be on the market for many years. The best way to drive away potential buyers is to put the houses for sale at a price higher than the market value. Keeping the houses for sale at a reasonable market price means that there will be greater interest in coming to an open house, so it can increase your chances of making a sale. A well-known fact for real estate agents is that there will be a buyer for every home if the price is right.
4) Find an agent with extensive sales records in your town: A good real estate agent will know how to determine the fair market price of a house. He should also have a record of being able to sell the house within three to four months. An experienced real estate agent who sells real estate in a specific area near you will be able to help you complete the entire process efficiently and on time. If you have a real estate agent with no years of experience, this will waste precious time and money while still perfecting his craft.
5) Give the home a warm and welcoming feeling: If the walls in your home are painted with bright colours, use neutral tones of tan and beige to lower their styles. This will allow visionary home buyers to paint their furniture at home freely. Light up the mood with light candles in the bedroom and bathroom. The soft background music brings a relaxed and comfortable feeling to buyers. Buy fresh linens for sheets and throw pillows on the sofa. Give your home the “homely” feel that everyone is looking for.
6) Do your research: Open the house and check other homes on the market in your area. See what potential buyers they must offer. If they have a comfortable lounge area in the master bedroom, please create your comfortable lounge area to attract those potential buyers. You will be surprised at what you can do with just a few oversized pillows and windows with views. Collect ideas for other houses, and then use your imagination to do the rest.
7) Provide incentives for potential buyers: When buyers are interested in buying your house but want you to lower the price, try other incentives. For example, you may want to offer to pay the buyer’s transaction fees. This always attracts buyers because it saves them money and allows them to pay the down payment. Some sellers choose to put in appliances such as refrigerators, dishwashers or washing machines/dryers.
In the buyer’s market, the seller’s job is to be creative in finding a way to transfer his property. Making the sale is not always an easy task, but it can still be done quite successfully with a little effort.
7694 Islington Ave
Woodbridge, Ontario L4L 1W3
Phone: (905) 856-7514
$000 – $000