The Real Estate Market has shifted and is has been declining and there are certainly more homes on the market than buyers some would argue. This would be a text book buyers market, but you have to sell your home due to a job transfer, divorce, family situation or some other personal crisis or reason. With no option but to sell your home in a declining market what can you do?
Selling a home in a declining or shifting market starts with a proper attitude and finding the right Realtor® who is optimistic, comprehends the current local market, has a fortified marketing strategy and the right sales techniques. Having the right approach to the market and taking a proactive and realistic approach will be the ones who sell their homes.
The key to successful selling in a “declining market” is pricing your home at today’s market value, having your home in tip-top condition and being able to strategically market the home nationally, especially in a great market like Southwest Florida.
As the seller you need to look at your home from a buyers perspective, walking through it as if you were not attached and looking to spend asking price for the home. What little things would you want to spruce up? Look at the carpeting, paint, fixtures, mirrors and your yard. Make sure your home is de-cluttered and organized. I recommend that you go through every closet, cabinet and box in your home and garage and have a yard sale to get rid of anything you do not need or use.
Make sure that you get weekly updates from your Realtor® regarding your home, the market and other sales in your neighborhood or community. Properties need time to get the proper exposure so please be patient in the process. Finding out where your home is advertized and marketed is a great question to ask your Realtor®. Your property should be advertized on at least 8 – 10 websites to get the proper exposure needed in today’s market.
A house can sell in any market condition you follow five steps.
1. Pick a great Realtor® who has a fortified marketing strategy, strong understanding of today’s technology and comprehends the current market conditions. 2. Make sure you look at your home as a buyer and not the seller / owner. Look at staging your home for sale, getting rid of clutter and sprucing up your home with paint, etc. 3. Make sure your home is priced right for today’s market. If the market is declining, you need to utilize the Comparative Market Analysis to determine what homes are selling at currently. You should know what features these homes have differently than your own and vice versa. What features does your home have that the others do not and what is the value of those features. 4. Make sure your home is getting optimal exposure through marketing and advertising including multiple websites and social media like Facebook and Twitter. 5. Be patient and partner with your Realtor® for weekly updates on your home, neighborhood and the market. A successful sales process starts with dynamic partnerships between the seller and Realtor®.