Seven Strategies to Get Your Property SOLD in a Slow Market

Posted 2007/09/26

With the economy not flourishing and newspapers negatively guiding the Real Estate market, it is crucial for sellers to get help from the best agent while learning simple tactics to increase the chances of selling their home. In a slower market, enthusiastic buyers are few and far between. It is in the seller's best interest to be prepared and informed of potential buyers needs and expectations.

Below are simple strategies and techniques that can benefit sellers and get their properties "sold" in this slow Real Estate market.

Pricing to Sell:

With market conditions being a catalyst in the establishment of property value, realistically pricing your property is vital to selling your home. As the market becomes slow and idle, buyers gain the advantage and are inclined to hesitate at looking at overpriced properties. When a property is first listed on the market, it attracts the most attention, enthusiasm and curiosity, but overpricing it at the initial listing might deter numerous potential buyers resulting in reluctant views and the property just "sitting" on the market.

Incentives:

With a highly competitive market, enticements of all sorts are being used to persuade buyers, like you see home builders do. Follow their example and present an attractive offer with an appealing incentive to the buyer. A few noteworthy examples could be, "$5000 Design Credit at Closing," or "We'll make your first two mortgage payments."

Seller Financing:

As the seller and home owner, considerable amounts of equity can be built up over several years allowing the possibility of owner financing. With loans being more difficult to acquire these days, offering an enticing seller financing might attract more buyers who wanted to buy but couldn't obtain a loan. With more home-financing options for buyers, your possibility of selling increases dramatically.

Appealing inside and out:

Most homes only have one chance to make a great impression, and it is imperative that the seller does their best in creating an attractive external appearance. You shouldn't judge a book by its cover but in the intense real estate world, most people tend to skip unattractive homes even if it is appealing inside. With a myriad of properties on the market, buyers become overwhelmed and impatient after going through dozens of unmemorable homes; which makes it very crucial that your home looks great from the inside and out.

Spotless and Well-kept:

Common sense says that buyers do not want to purchase a dirty or cluttered home. As simple as it gets, one of the most important and easiest things to do to improve the possibility of selling your home is to keep it immaculate and organized. A home is usually someone's largest investment and a complete turn off would be an un-kept or a disorderly home, even if the property details were perfect on paper.

Staging:

There is no harm in getting additional help, which could mean getting your home staged. Clean homes are great, but when empty, buyers have a hard time envisioning themselves in that home and therefore make's it unmemorable. Professionally staged homes inevitably sell faster than un-staged homes, just because it is more appealing to the eye.

Hire a Full-Time Realtor with a Strong internet Presence:

As 80% of today's home buyers search the internet for property, it is vital that sellers find an agent, who is aggressive in all fields, especially the internet during a slow market. Find an agent who has a great track record and specializes in your area to ensure your odds of selling quicker. Expect a detailed marketing plan along with a strong internet display from your Realtor. To search for agents in your area with the most internet exposure, simply explore GOOGLE, YAHOO! or MSN for your area or neighborhood.

John Allen, of Allen Real Estate Services, Inc., is in Sarasota, Florida.