5 tips for selling your home in a buyer's market
April 21, 2016
Selling your home in a buyer's market takes work and persistence. Gone are the days when you could put your home on the market one day and spend the next few days breaking up bidding wars.
Calgary RE/MAX First Realtor Justin Havre knows all about selling in a buyer's market. Here are his five top tips for quickly selling your home.
1. Make your property stand out
"Buyers are very knowledgeable these days, and very value conscious," says Havre. "Make sure your property stands out from all the others on the market. You know those minor repairs you've been meaning to do but never had the time? Do them before listing." Cutting the grass, painting the front door, cleaning the windows – this will increase curb appeal.
2. Price it right
Every homeowner – "including me!" laughs Havre – thinks that their home is worth more than it actually is. "Check out comparable listings in your area. See what's selling well and what's sitting for a long time. Do your homework and define a realistic sales price for your home. Remember, buyers won't have the same sentimental attachment that you have. They're looking for an investment."
3. De-personalize your home
Make it easier for buyers to imagine living in your home. "Remove the family photos, the personal touches. Buyers may not have the same taste or style and this makes it harder for them to imagine how the home might look with them in it."
4. Create an Internet strategy
"Most people start their search for a new home online," says Havre. "Work with your realtor to develop a strategy for reaching the right people through social media sites such as Facebook and Twitter. Make sure you direct your efforts to the right demographic."
5. Work with a professional
"If you're serious about selling your home, a buyer's market is not the time for DIY. Choose a professional realtor with knowledge and experience who's been around long enough to have seen similar tough economic times. Make sure you work with your realtor to get as many eyes as possible on your house."
Finally, Havre advises, don't take a lower than asking price offer personally. "Don't reject the first offer outright. Keep your emotions in check. If the person is interested in your home, there might be a compromise that can be reached. Make a thoughtful counteroffer."
Photos by: Expert Beacon, Sell Texas Property Fast, Sam Veltri, Susiej, St. Louis Real Estate Today, Eugene Oregon Real Estate
About Christine Purfield
Christine Purfield traded numbers for words when she gave up the dizzy heights of finance and accounting to become a freelance writer. She can usually be found writing, knitting, or avoiding housework. If you can't find her, she's travelling.