Being the seller in a buyer’s market isn’t easy. Competition is stiff and buyers can be hard to come by. And because the market will dictate the value of your property, it is hard to maximize on profit.
While you can’t control the housing market, you can control how your house shows and it is still possible to sell a house fast in a buyers market. Presentation, exposure, and competitive pricing are the keys. Here are tips that can help you get your listing sold fast in a slow market, whether you’re preparing to list or have a stale listing.
The key to selling your home fast in a slow real estate market is to make it stand out from the competition. Think about what gives you property an edge over the similar homes it is competing with and maximize on it by making it your selling point.
What does your house offer that other houses for sale in the area don’t have? It could be that it stands on a bigger lot of land or that it has a fantastic view.
Think about the kind of buyer that is likely to buy your home. Get to know their needs and wants and let them know your property meets them through photos and words. Consider offering incentives to entice your target buyers.
In a buyer’s market, buyers have the luxury of being choosy. They will only consider homes in pristine condition. It is important to fix issues and prepare your home for sale so it is looking its best. Staging your property with the target buyer in mind can help your property stand out from the crowd and make it more appealing to potential buyers.
Thoroughly clean and declutter it. Work on curb appeal so it is breathtaking. Make the necessary repairs. Touch up the paint. Have professional take photos for your online listing and accompany the photos with an enticing listing description.
The more people know about your listing, the higher the likelihood of selling it fast in a buyer’s market. List on the multiple listing service (MLS) and on real estate websites such as Zillow and Realtor.
Aim to put your listing in front of as many potential buyers as possible. Catch the eyes of passersby with breathtaking curb appeal and a for sale sign in the front yard. Advertise the house on various social media platforms such as Facebook Marketplace and Instagram.
It is the buyers who have the luxury to be picky and demanding in a buyers market. When you’re the seller in a buyers market, it is wise to be flexible with settlement terms. Be willing to make reasonable concessions to make your property the more convenient option.
Once you accept an offer and the buyer completes a home inspection that reveals some issues, be ready to make some compromises during negotiation. This will keep negotiations open and increase the chances of closing the sale successfully.
Buyers love a bargain, especially in a buyers market. Reducing the asking price is a sure way to raise the intrestt in your house, make it stand out from the competition and increase the chances of it selling quickly. The good thing is that you are also likely to buy low, if you will also be buying in a buyers, market.
A buyers’ market presents tough selling conditions. Setting a fair price is essential and so is standing out from the competition. The good thing about selling in a slow housing market is that potential home buyers are constantly looking at homes.
By ensuring that your home is at its best and standing out from the comptition, the right buyer will find it. Follow the above tips to sell a house fast in a buyers market.
Looking to sell a house in the NYC area fast or as is? Master Realty Solutions Buys Houses in All Conditions in Long Island, Brooklyn, Bronx, and Queens. Want to learn more about the cash home buying process? Please give us a call at 718-993-3303 or email info@MasterRealtySolutions.com