WHAT DOES IT TAKE TO CLOSE THE DEAL IN A BUYER’S MARKET?
What does it take to sell a home in a buyers’ market – a fresh coat of paint or a kitchen overhaul? Lowering the asking price or offering incentives? From cosmetic to strategic, smart sellers can take advantage of a few simple tips to get the most out of their properties. Here are six strategies to securing a “sold” sign:
Boost Curb Appeal. Though they may be obvious, cosmetic upgrades like painting and planting can truly go a long way to forming a fantastic first impression of a home. And be sure to clean, clean, clean!
Make Big Fixes Where Possible. If budget allows, invest in bigger improvements. Focus on “make or break” rooms like bathrooms and kitchens, because nothing says “uninviting” like an unattractive cooking space. If budget is limited think about smaller home improvements in these areas which could help close the deal.
Let the Internet Work. Free online tools like the Coldwell Banker Home Tracker (www.coldwellbanker.com) or Home Value Estimator can assist in gauging a property value including home improvements that have been made to the home. Using online resources allows a dialogue with the real estate broker who can assist with setting the right price for the home.
Transparency is Golden. Getting a preliminary professional home inspection and sharing it with potential buyers may help them understand a home’s condition and reinforce that everything is being done in a trustworthy and responsible manner. Make sure to be clear about recent improvements that have been made, and provide estimates on other optional upgrades – especially ones that can be included as part of the agreement.
Go the Extra Mile. Have the home pre-inspected and follow up by making necessary repairs. Allow potential buyers to see the report and receipts for the work. Offering a home warranty could also sway a buyer to make a purchase. Buying down mortgage rates or pay points on behalf of the buyer is another suggestion.
Be Realistic. Selling in a buyer’s market takes skill and strategy. In most markets, increased inventory has given buyers the opportunity to be selective in the home they want and the price they are willing to pay. Properly priced homes are selling and a sales associate will help determine what that price should be. Also understand that it normally takes a bit longer to sell a home in buyer’s market than in a seller’s market.
Boost Curb Appeal. Though they may be obvious, cosmetic upgrades like painting and planting can truly go a long way to forming a fantastic first impression of a home. And be sure to clean, clean, clean!
Make Big Fixes Where Possible. If budget allows, invest in bigger improvements. Focus on “make or break” rooms like bathrooms and kitchens, because nothing says “uninviting” like an unattractive cooking space. If budget is limited think about smaller home improvements in these areas which could help close the deal.
Let the Internet Work. Free online tools like the Coldwell Banker Home Tracker (www.coldwellbanker.com) or Home Value Estimator can assist in gauging a property value including home improvements that have been made to the home. Using online resources allows a dialogue with the real estate broker who can assist with setting the right price for the home.
Transparency is Golden. Getting a preliminary professional home inspection and sharing it with potential buyers may help them understand a home’s condition and reinforce that everything is being done in a trustworthy and responsible manner. Make sure to be clear about recent improvements that have been made, and provide estimates on other optional upgrades – especially ones that can be included as part of the agreement.
Go the Extra Mile. Have the home pre-inspected and follow up by making necessary repairs. Allow potential buyers to see the report and receipts for the work. Offering a home warranty could also sway a buyer to make a purchase. Buying down mortgage rates or pay points on behalf of the buyer is another suggestion.
Be Realistic. Selling in a buyer’s market takes skill and strategy. In most markets, increased inventory has given buyers the opportunity to be selective in the home they want and the price they are willing to pay. Properly priced homes are selling and a sales associate will help determine what that price should be. Also understand that it normally takes a bit longer to sell a home in buyer’s market than in a seller’s market.
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