It is a buyer’s market! With that being said, what does that mean to the seller? Well, it means that in most real estate transactions the buyer is going to be in the driver’s seat. However, it does not mean that you have to give your property away or give in to all the buyer’s demands. Because of the conditions of the market, some buyers want everything and if you give them an inch, they may take a mile. But there are also plenty of reasonable buyers out there that need or want a new home and are willing to work with you, they just want to be sure they get the best deal they can and it has to make sense to you, the seller. So, how do you accomplish that?
1. Price Your Home Correctly – With the ups and downs in the market, it is important to price your home correctly. If you want the home to sell quickly, then you need to have one of the lowest priced homes for your home’s features in the local area. It does not matter what you paid for it four years ago, it does not matter that it was once worth $500,000, you must have realistic expectations about where the home should be priced or it will take a longer time to sell. Consult a Realtor to determine what a competitive market analysis will look like and price accordingly. “But what if the price is less than what I owe?” you ask. Well, if you are in a situation where you must sell your home, then you would need to contact your mortgage company and notify them that you intend to sell your home in a short sale situation and there will be documentation that you will need to gather and supply.
2. Pretend You Live in a Model – Sounds silly but buyers are looking for their next home and there are thousands of options on the market. Your home has the best chance it has in this market if it shows like a model. Sounds like an expensive ordeal but it is not. You just want to eliminate things that detract buyers and make the home as appealing as possible. Clean up all clutter and put away extraneous things that cover countertops and block living spaces in rooms. Make the plan look as large as possible and show as much countertop as you can. Deodorize and spray with air-fresheners or use candles regularly so that there is a pleasant aroma in the air and things smell clean. If you have a scheduled showing, be sure rooms have at least three light sources to brighten them up and play some nice ambient music. There are many tips and tricks you can try here. You can also consult a home stager to help you tidy up and give you suggestions that are affordable to show the property in its best light.
3. Marketing Plan – Have a marketing plan and stick with it. It does not mean you have to host an open house every weekend or run ads in the paper every week. Those might work for certain properties but it is not for everything. Have a mix of options that include, direct mail, phone calls, open houses, online presence, signs and if they are effective in your market, print media. Remember that you do not have to find every buyer in the market, just the right one at the right price for your home.
4. Competitive Edge – Know your competition in the area and find out what your neighbor’s homes are like that are for sale on the market. Is your home as nice as theirs or do you own a show place? If you own a showplace, brag about it properly to potential buyers by showing a list of improvements that you made since you moved in. Point out items that have transferrable warranties or a long life span so that the buyer feels like they are getting value for their purchase. If you can talk about your neighbor’s homes intelligibly a buyer may feel confident that you have really done your research and take your word for things that they are getting the best deal from you – if you are priced appropriately. Again, remember that although you spent $10,000 to put in granite countertops, it does not mean that value is added straight to the bottom line over your neighbor’s home. Why? Because it is not new, the buyer did not pick the color and it does not have the same value to the buyer as it does you.
5. Consult a Professional – I know some sellers think they can save some money by listing the home and selling it themselves. Yes, they can and it has worked for people over the years. However, a Realtor is going to have in our market over 1,300 agents working to sell your home versus you as the seller. With the multiple listing service, the home is put out there for any agent to show and this pool of talent have access to buyers that you may not be able to find any other way. To contact me, you can click on the contact me tab or email me directly at jasonkoivu@yahoo.com because I am a professional and a Realtor and I am here to help you sell your home.
Brevard County, Florida real estate is my specialty. I help people with homes in Cape Canaveral, Cocoa, Cocoa Beach, Indian Harbor Beach, Indiatlantic, Melbourne, Melbourne Beach, Merritt Island, Palm Bay, Port St. John, Rockledge, Satellite Beach, Suntree, Titusville and Viera. All areas are known collectively as cities in the Space Coast.