How to Sell Your House in a Slow Market
As you drive past your block, you notice after for sale sign. What you can not find, however, are the sold signs. Like any other competitive market, real estate will have its inevitable ups and downs. Sometimes, you can not wait until the market is in your favour. You must strap on your brightest smile and best attitude and take on the challenge head-on. In a slow market, it may not be enough to just list your house; you need to sell it.
Fortunately, there are many steps that you can take, as a seller, to prepare your house for a quick sale, no matter the circumstances. Despite the slow market, it is more than likely that there are people out there who would love to call your house their home. You need to find those people and hound them (not literally) to make them truly believe that this is the house of their dreams. This challenge is nothing some creativity, competition, and coffee can not handle.
Let’s learn how to sell your house in a slow market.
1. Find the right real estate agent
Finding the right real estate will give you a competitive edge. Real estate agents are the experts: they know the market, they can help you find your home’s unique selling proposition, and they can create motivated buyers. You want somebody who knows the local market and has a reliable sales record that validates their skills. They will help you manage your homes for sale carefully and efficiently.
From overseeing the professional photographer taking pictures of your home to negotiating the best prices for you, their worth is unquestionable. They will be the main point of contact between potential buyers and you, and their approach to customer service will either be an ally or a liability.
2. Price your home right
With your real estate agent, you must determine a price to set your home at. If you want to sell your house quickly, we suggest underpricing your property just a little. Removing a few thousand dollars can generate greater foot traffic and get people talking.
When trying to sell your house quickly, it is important to get the attention of only those genuinely interested in buying. If you price your house too high, you may not get many buyers even considering it.
3. Make your home presentable on the inside
Home staging makes your place look more presentable to potential buyers. Staging allows others to envision a life in your home, whether you opt for a professional home-staging company or choose to do it yourself. Another significant portion of making your home presentable is deep cleaning and decluttering.
If you are short on time, consider hiring a professional cleaner to get a job done quickly and efficiently. After all, an empty or dirty house does not exactly scream “welcoming.”
4. Make your home presentable on the outside
Making a good first impression is important if you want to sell quickly. We can change the first thing they think about the home by changing the first thing they see: the exterior. This is what the industry deems “curb appeal.” If a sale is urgent and you do not have the time to do a major renovation, minor repairs and touch-ups will do just fine.
Small ways to elevate your curb appeal include a fresh coat of paint (on the entire house or just the door), window washing, bush-trimming, and buying new door handles. If you have a sidewalk, make sure that the path is clear and that you eliminate any safety hazards such as hoses, tree branches, or bikes.
5. Make the necessary repairs
If you are trying to sell your home quickly, you likely do not have the time for major renovations. Instead, focus on quick repairs on items that may potentially deter buyers. Focus not only on the exterior but also on the home’s inside. Determine if any of the following need fixing: loose tiles, loose hinges, rust or mould, stuck drawers, leaks, and large stains.
Depending on your time and money, you could install new hardware in the kitchen or replace old light fixtures. These renovations and repairs can also be a bargaining tool when negotiating with potential buyers.
6. Use creative marketing strategies
In today’s day and age, a lack of creative marketing can guarantee fewer potential buyers. The marketing plan is most likely in the hands of the marketing agent, but that does not mean you play any role. You play a vital role in selecting the best images, agreeing upon the listing descriptions, and helping to set the marketing timeline.
To make yourself stand out, expose your listing to as wide an audience as possible. Distribute fun and creative posters to distinguish your property, leverage social media to broaden engagement, and have an elevator pitch ready to present at networking and community events.