Last year we saw big changes in our Beach Cities real estate market. The days of selling your home in a day with multiple offers is a thing of the past. As a seller you can expect a market time of 6-12 weeks.. and that's if the home is in reasonable condition, not over priced and has a decent location. Welcome to 2007!
Can you increase your chances of selling before your neighbor does? Yes, but you have to be smart about it. This is not the time to test the waters on price or decide the old carpet is good enough. It is also not the time to get cute with offers of BMW leases or trips to Bermuda.
You are dealing with Buyers who know the market better then you do.... as most have seen every property that is for sale in their price range. They have a definite idea of what value means to them. Not one of them cares if Ralph Lauren personally created the color in your bedroom. It doesn't add value and value is what today's buyer expects to receive.
So how do you stand out? Here's 10 ideas aside from... clear the clutter, paint and new carpet ... You know you need to do the basics.
1. Price it right.. don't test out a price you know is over the market value.
Seriously,would you pay more for a house then it was worth in today's market?
Neither will anyone else.
2. Pay the buyer's closing costs... Yes..you can establish a maximum that you
won't exceed.
3. Buy down the points on the loan for 3 -5 years.. Again establish a maximum.
4. Hire a professional stager.. Add some punch to your home
5. Hire a landscaper... buyers make half their decision on a home from the exterior.
6. Give a bonus to the buyers agent.. if the agent is smart they will give it to
the buyer via a reduction in price and everyone wins.
7. Fill the rooms with fresh flowers
8. Turn on the lights and heat if it's cold.. who wants to walk into a cold dark
house.
9. Keep it clean.. I'm not talking kids toys... There is nothing worse then
looking at a home with a hefty price tag and dirty windows or mold in the
shower. Hire someone weekly... it will pay off.
10. Make sure it can be seen.. restricting showings to one hour a day or on
week-ends just isn't workable. Buyers won't come back in 3 hours and
certainly not in 3 days. It it can't be seen it won't sell.
Can you increase your chances of selling before your neighbor does? Yes, but you have to be smart about it. This is not the time to test the waters on price or decide the old carpet is good enough. It is also not the time to get cute with offers of BMW leases or trips to Bermuda.
You are dealing with Buyers who know the market better then you do.... as most have seen every property that is for sale in their price range. They have a definite idea of what value means to them. Not one of them cares if Ralph Lauren personally created the color in your bedroom. It doesn't add value and value is what today's buyer expects to receive.
So how do you stand out? Here's 10 ideas aside from... clear the clutter, paint and new carpet ... You know you need to do the basics.
1. Price it right.. don't test out a price you know is over the market value.
Seriously,would you pay more for a house then it was worth in today's market?
Neither will anyone else.
2. Pay the buyer's closing costs... Yes..you can establish a maximum that you
won't exceed.
3. Buy down the points on the loan for 3 -5 years.. Again establish a maximum.
4. Hire a professional stager.. Add some punch to your home
5. Hire a landscaper... buyers make half their decision on a home from the exterior.
6. Give a bonus to the buyers agent.. if the agent is smart they will give it to
the buyer via a reduction in price and everyone wins.
7. Fill the rooms with fresh flowers
8. Turn on the lights and heat if it's cold.. who wants to walk into a cold dark
house.
9. Keep it clean.. I'm not talking kids toys... There is nothing worse then
looking at a home with a hefty price tag and dirty windows or mold in the
shower. Hire someone weekly... it will pay off.
10. Make sure it can be seen.. restricting showings to one hour a day or on
week-ends just isn't workable. Buyers won't come back in 3 hours and
certainly not in 3 days. It it can't be seen it won't sell.
No comments:
Post a Comment