By Michelle Fradella, Broker - Pinnacle Real Estate Group
The media has been full of
stories about the slowing housing market --and although this kind of market
normalization is commonplace in the real estate industry, there is no question
that in many parts of the country, houses are currently on the market a little
longer and there is more competition for buyers.
Hire
a Professional
If you want to sell your
home fairly quickly, now is not the time to go at it alone. You want to make
sure that your home gets the maximum exposure and the best marketing strategy.
When you work with a qualified real estate professional, your home will be
listed on a MLS database that other real estate professionals can access. In
addition, you get the benefit of an experienced marketer and negotiator who is
familiar with real estate issues in your community.
When selecting someone to
represent you, interview at least three real estate professionals who are
familiar with your area. Ask questions such as: How will your home be marketed
to reach the greatest number of buyers? What price can they get for your home?
What's the average time their listings have been on the market? They should be
able to back up their answer with a Comparative Marketing Analysis and provide
the names of two or three of their most recent sellers who you may contact for a
reference.
Price
It Right
A house priced at just below
market value piques the interest of real estate professionals and buyers, while
overpricing chases them away. If your home is priced too high, interested buyers
may never even tour your listing. It is true that you can always drop the price,
but the first 30 days are the most critical. That is when interest is the
highest, and it can be difficult to recapture people's interest later on. The
longer the property is on the market, the fewer the prospects.
Get
Your Home In Show-Condition
Get your home in tip-top
shape before any potential buyer views it. Remember, you only get one chance to
make a first impression. Get rid of the clutter. Touch up the paint where
needed. Clean the carpet. Consider having your home inspected, and make any
recommended repairs. (If there are any repairs you decide not to fix, inform the
buyers about the condition of your home and discount the repair cost from the
selling price).
Curb
Appeal
Don't overlook the outside
of your property. You don't want a buyer to rule out your home based on the
outside appearance. The lawn should be trimmed, bushes and shrubs pruned, and
leaves raked. The front of the house needs a clean, fresh appearance. Even the
mailbox needs to be attractive and functional. (Believe it or not, a rusty,
unhinged mailbox can turn potential buyers off.) And don't forget to put away
bicycles; toys and other items that may make your property seem cluttered.
Offer
Incentives
Offering incentives can be
just the impetus a potential buyer needs to select your property over others.
You may want to consider offering a carpet or paint allowance. If the buyer
knows up front that there is an allowance for the worn carpet or paint, they may
overlook those cosmetic flaws in order to choose their own color. You could pay
for a professional home inspection or a home warranty -- and, depending on your
market and budget, offer to pay some of the closing costs.
Don't be discouraged if
there are competing homes for sale in your neighborhood. Making the right moves
at the beginning of your home selling process can give you the upper-hand you'll
need in today's competitive market.
Copyright 2008 - Pinnacle Real Estate Services, LLC a Mississippi Corporation