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Tips For Selling In Down Markets Real Estate Articles |  |
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| Summary: These tips are helpful in all markets. They can make the difference in getting a sale in a down market and they can help you get the best price from potential bidding wars in hot markets. |
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Real estate is very localized. Some areas can do well while others are having troubles
Homes at the high-end in top neighborhoods with top schools often hold up better in declines because the rich always have money to spend for the very best. Homes in the lower-end neighborhoods with poorer schools usually suffer the most in down markets. With today's real estate bubble collapse, there can be foreclosure signs on every block where the distressed properties are easy to spot by the dead lawns. Selling Tips Count Signs: Don't List with the agent with the most signs: This is counter intuitive, but an agent with fewer listings will work harder and have more time to find a buyer. Go to someone who is local, knows your neighborhood and will make selling your home their top priority. |
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Use Neighbors as References:
Get to know your neighbors and use them as references to help sell your
home. In my neighborhood, we have a theater group where 50 or 60
of us subscribe to the local theater as a group. We fill the
majority of the seats on the day we select for our season pass and we
have a dinner party before the show to socialize. This has been a
selling feature to some who moved into the neighborhood. We
also have regular Christmas (Winter Solstice) parties and summer block
parties. Offer to introduce potential buyers to the neighborhood
groups so they can make friends before they decide to buy.
Know your Target Audience: If you are in a commuter market, let them know tricks to save money on commuting, where the train stations are, etc. |
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Don't focus on the open house to sell your home.
Open homes are ways real estate agents get new clients interested in
neighborhoods. Most homes are sold by real estate agents who know
what the buyers are looking for and take them to private showings using
their pass keys.
Focus on new ways to sell: More people search for homes online than will come to an open house. Make sure your agent can spend money on a good online presentation that puts your house in a good light so web surfers are enticed to see it in person.
Get an inspection done before you sell your house. Show the inspection in a binder along with receipts for work done to fix each item. If you fix them yourself, get another inspection to show the items have been fixed and passed inspection . |
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