Homes For Sale – 7 Tips for Selling in a Slow Market

In the past decade home sales have gradually become a buyer’s market. Although this is good news for the buyer, it is becoming somewhat of a nightmare for those who are trying to sell their home. Because of this, sellers often have to dramatically drop the price of their homes in order to make the sale, resulting in huge losses. However, there are ways of increasing the chances of making the sale without the seller having to take a big loss. The following will be a list of seven tips for successfully selling a home in a slow market.

1) Appearance is key- When looking to buy a home a buyer will naturally gravitate to houses that have a nice appearance. Fixer-uppers are not as popular as they once were. The first thing that a seller should do is to fix anything that may catch the eye of a potential buyer. For instance, the yard should look immaculate at all times. If the gutters on the house are drooping, that will be the first thing people will notice. If there is chipped paint on the house, paint it. It is worth the money to stage your property for curb appeal.

2) Be flexible- Be prepared to make yourself scarce on weekends if needed for the realtor to show the house. Keep things tidy at all times for any last minute appointments made by perspective buyers. Try not to limit the times that you are willing to provide access to the home.

3) Keep the home at market price- If you are stuck in the mind-frame of making big dollars from the sale of your home, chances are your house will be on the market for years. The best way to drive away potential buyers is to put the house up for sale above market value. Keeping the house for sale at a reasonable market price means that there will be more interest in coming to an open house, therefore bettering your chances of making the sale. It is a well-known fact by realtors that if the price is right, there is a buyer out there for every house.

4) Find an agent with an extensive sales track record in your town- A good realtor will know exactly how to determine fair market price for your home. He should also have a record of being able to sell a home within three or four months. A realtor that is experienced in selling property in your particular neighborhood will be able to take you through the process efficiently and in a timely manner. If you have a realtor who doesn’t have many years of experience, this will waste valuable time and money while he is still working on perfecting his craft.

5) Give the home have a warm and welcoming feel- If the walls in your home are painted in vibrant colors tone them down with neutral shades of tan and beige. This will allow perspective buyers to picture their own furniture in the home without distraction. Set the mood with lightly scented candles in the bedrooms and bathrooms. Soft calming music in the background will give the buyer a relaxed comfortable feeling. Buy new linens for the beds and throw pillows for the sofas. Give your home that “homey” feeling that everyone is looking for.

6) Do your research- Go to open houses and check out the other houses that are on the market in your area. See what they have to offer a potential buyer. If they have a cozy seating area in the master bedroom, create your own cozy seating area to entice those potential buyers. You would be surprised at the things you can do with just a few over-sized throw pillows and a window with a view. Gather ideas from other houses and use your imagination for the rest.

7) Offer incentives to potential buyers- When a buyer is interested in purchasing your home but wants you to come down on the price, try using other incentives instead. For instance, you may want to offer to pay the buyer closing costs. This is always tempting to buyers since it will save them money, allowing them to have more money for a down payment. Some sellers choose to throw in appliances such as the refrigerator, dishwasher or washer/dryer.

In a buyer’s market, the seller has the task of being inventive in finding a way of moving his property. Making the sale is not always a piece of cake, but with a bit of effort, it can still be done quite successfully.

Tips for Writing the Best Real Estate for Sale by Owner Ad

The property ad is your chance to create a great first impression and to make the potential buyer contact you to find out more. When planning a private property sale, it is vitally important to spend some time thinking about the wording of your real estate ad.

Writing a real estate for sale by owner ad can be difficult, despite the fact that most publications have a strict word limit. There are several important things you need to say and a few tricks that will help you make the real estate ad text more exciting.

A Great, Catchy Title

Most people interested in real estate for sale take a look at the title of the listing and the photographs that accompany it. These are the two factors that will often determine whether a person will continue reading.

Work on a catchy and descriptive title. It should mention the location of the real estate for sale by owner, the size, the price and the most important features of the house. Squeezing that much information into a title may appear to be a great challenge. Do a bit of brainstorming and write down your ideas. You can refine the most promising titles after you put all of your possibilities on paper.

Make It Very Specific

The lack of specifics and details will instantly kill the interest of potential property buyers. Do your best to include enough descriptive information in your listing.

Refrain from saying that the house has a modern and beautifully designed bathroom. Say what makes the bathroom modern – is there a water massage system in the bathtub? Did you install faucets that decrease the consumption of water? Such details make all the difference in the world.

Avoid the Real Estate Ad Cliché

Go through several property ads. You will see a number of phrases repeated in the majority of ad listings. These real estate ad clichés are very dangerous. They make your listing boring and very similar to everything else that the market has to offer.

Clichés are safe and easy but they will never give your real estate for sale by owner the attention that it deserves.

Some of the most common ad clichés include hidden gem, conveniently located, original interior design, vibrant, spectacular, amazing view, modern, easy access, majestic, stunning, just renovated and special offer.

Write a Little Bit about the Neighborhood

As a house owner and a private property seller you have one great advantage over the realtor or the agent – you know the property and the neighborhood by heart. Use that knowledge to create the perfect real estate ad.

Adding a sentence or two about the neighborhood will help paint a complete picture. Get the reader interested. What makes the neighborhood special and worth relocating to? Mention these interesting details towards the end of the listing.

Encourage Potential Buyers to Ask More Questions

Finally, encourage the potential buyers to contact you and to get their questions answered.

Provide a few communication options. Instant messaging, emailing and calling are the most popular possibilities. Each potential buyer has a preferred method of communication, so you should have a few options available.

The perfect private property sale listing is difficult to create. See what the competition is doing but do your best to keep your text original and fresh. Provide specifics and be as descriptive, as possible. Spending some time on writing a house listing that stands out can help you sell your house faster. The results are worth the effort.

How Real Estate Agents Can List For Sale by Owner Properties (FSBOs)

Listing a property that is currently for sale by the owner can be a tough task. Most owners will hold out for awhile before they will consider listing their house with a real estate agent. The plus side here is that you know they are motivated to sell. So if they do choose to list their home with a real estate agent, how can you make sure that you are they real estate agent they choose?

You will first need some addresses of FSBO’s to mail to. It is possible to buy lists, but the best leads seem to come from the houses you end up driving by and marking down the address. Just get all the members of your team to keep a look out for FSBO signs, and mark the address down for you.

I have always been a fan of hands off marketing campaigns that don’t take up too much time once they are set up. This campaign has been set up that way. First, you will need to create a series of six postcards. The first to will have tips for selling your house. The second two will talk about some sort of advance marketing that you do. It should sound impressive, like something they can’t do on their own. The third two should talk about your listing guarantees. Other than paying a commission, the second most common objection is getting locked in to a long contract. So why not offer an easy cancel guarantee? You may want to also offer a communication guarantee to assure them that they will not be left in the dark.

Send the first three postcards every third day. Send the last three postcards spaced a week apart.

If you are getting enough leads this way, and business is booming, leave the campaign where it’s at. If you could still use more leads, then after postcard number four goes out, make a personal visit to the house to see if they could use any help or if they have any questions. You may want to ask if you can stop back in a week or two to see how things are going.

Most agents don’t market this consistently to FSBO’s, and if your postcards look professional and memorable, you should be the first real estate agent that comes to their mind when its time to list.