Sell Home in Buyer's Market

Posted by Justin Havre on Friday, November 2nd, 2018 at 8:46am.

Selling Well in a Buyer's MarketSelling a home is tricky, even when there are dozens of buyers ready to make the purchase. When the buyers are few and far-between, sellers really have to find a way to set their properties apart from the rest. Giving the home its best look is one way to help. Paving the way for a smooth sale is another. When sellers put these two together, they will have a better chance of getting a higher price while selling their homes in less time.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Set a Fair Price

When sellers think about the amount they want for their homes, they can be tempted to set a price that is not necessarily fair for the property or the market as it is currently. Although homes tend to rise in value over time, a buyer's market can decrease the amount of the average sale. Since the price agreed upon by the buyer and seller is usually verified by an appraisal, sellers have good reason to list the home at a well-researched sum. Sellers can ask their agents for input on the right number. This way, the sale is more likely to please buyers and pass the appraisal stage.

Renovate to Improve Value and Increase Interest

Home buyers tend to have a fairly specific list of needs in mind as they shop around for a house. They may expect a certain number of bedrooms and bathrooms. In a buyer's market, they are often unwilling to settle for less than they need, unless the price is much lower and they believe they can make the upgrades themselves. Sellers should keep this in mind as they make any improvements before putting the home up for sale. Storage is key for many buyers, as is a family-friendly design. People can talk to their agents about the kinds of buyers they should anticipate for their homes, and which renovations will better meet their expectations.

Find the Right Time to Sell

It is no secret that lots of buyers look for homes in the spring and summer. The fine weather makes for longer days and easier home showings. This is also an ideal opportunity for people to purchase a property, move, and settle in before their children start school again. Home sellers who want to take advantage of the largest pool of possible buyers may want to plan to sell within these seasons. However, there are variations based on region. Real estate agents can help sellers identify the best week or month to start.

Simplify the Buying Process

Savvy sellers understand that even once they have a purchase contract with a buyer, the work is not yet done. There are a few things that could cause the process to falter, and sellers can help to minimize that. Buyers often put a few contingencies into the contract that allow them to cancel it under certain circumstances. Sellers can make this easier by accepting a contract with standard contingencies, such as a home inspection or appraisal. If the inspection yields issues with the home or property, sellers may want to offer to pay for some of the necessary repairs.

Selling a home can be like a complicated dance between two parties, especially in a buyer's market. When Cimarron home sellers put in the effort to make their homes easy to love and even less hassle to buy, they may be rewarded with greater interest and a better return on investment.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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