Down Market Selling tipsTopic: Home selling
When it comes to selling a house, the word "down" truly is a four-letter word: no one wants to sell anything when the market is bad. Still, it's not impossible to sell your house in these conditions. Sometimes it just takes a different kind of game plan. Consider doing the following:
Don't aim too high: It's pretty obvious: when the market is down, the price of your house has to be as well. It might be hard to hear. If you paid 300,000 for a house, you don't want to sell it for less. But, a down market is a time when you have to compromise: this starts with the price. This doesn't mean you have to cut the cost drastically, but don't aim too high, not even to begin with.
Check out the competition: Believe it or not, you aren't the only person selling a house. Chances are, you aren't even the only person in your neighborhood selling a house. Instead of letting your competition be, see what they are offering. Are they doing something creative that you didn't think of? Are they having open houses complete with live bands? Are they offering a furnished game room? Look around and get some ideas. You'll not only learn what sellers are doing, but you'll also see what buyers are looking for.
Keep your house looking good: It's hard to keep your house clean, shiny, and looking like new, but when you're trying to sell it, your house has to look its best. This not only means you should clean and scrub before scheduled showings, but you should also keep your house sparkling when showings aren't scheduled. You just never know when someone might be in the neighborhood and show up unexpectedly.
Be ready to rock and roll: In a down market, you - as a buyer - have to be ready to rock and roll: before you even think about selling, make sure all your ducks are lined up. This not only means you need to clean your house, repair things that are broken, and replace things that are rundown, but you also need to have a solid move out date and a solid move in date for your buyers. All your financial T's should be crossed and your I's dotted. Anything that causes you to delay a sale may also cause you to lose one.
Offer buyers incentives: Sure, a low price may be incentive enough for some buyers, but others might be holding out for something more. This is where creativity can really take over. Perhaps you have NFL season tickets you don't really use, maybe you have a time share in Mexico that you just don't visit enough, perhaps you have a restored mustang you've been thinking about putting up for sale.
Speak to the heart of the buyer - be creative and see which one speaks to yours.
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