The real estate market is always shifting, and can be different in different parts of the country. While one location might be experiencing a seller’s market, other locations may be going through a buyer’s market. Before you put your house on the market, it’s always a good idea to consult with a local real estate professional to understand the market in your area.
If you find yourself in a buyer’s market, below are four rules to getting your home sold.
Four Rules to Selling Your Home in a Buyer's Market
- Price your home right. Higher interest rates, increased inventory, and new construction “incentives” give buyers more options. As such, buyers are more sensitive to price, are looking for deals, and are not so willing to pay top dollar for your property.
- Look your best online. Buyers often start their home search online. How your property looks online will have a direct effect on the number of buyers interested in purchasing your home. While hiring a professional photographer and taking “drone” pictures are an added cost to you, it is well worth the investment to help your home stand out.
- Stage your home. A professional stager can help you “declutter” the look of your home and give it a more modern and current design, while making the property appeal to a larger audience.
- Disclose, disclose, disclose. If you fail to disclose a major problem with the property, and the buyer finds out after the sale has concluded, you risk being sued and spending more on legal fees than it would have cost to remediate the undisclosed condition.
What techniques have you used to help yourself or others sell in a buyer’s market?