Tips for Sellers in a Buyer’s Market
Updated: May 26, 2021
Most recently I shared tips for Buyer’s in a “Buyer’s Market”. Well, I didn’t want to leave my seller’s out either.
If you find yourself selling your home during a buyer’s market, do everything you can to make yours stand out.
Make repairs: Since there are more properties for buyers to choose from, you’ll find that they can be pickier. You’ll want to do any necessary repairs before putting your home on the market and consider making minor improvements.
Clean and depersonalize: Spend a lot of time considering how others will view your property. If buyers can’t envision themselves living in your home, they typically will not make offers. So, do a deep clean of your home, get rid of any clutter and touch up any landscaping in preparation. As you clean, try to depersonalize your space as much as possible for example, hide family photos, papers, souvenirs and anything else that points to you living there.
Market like a pro: Your marketing will matter even more than it would in a neutral or seller’s market, so make sure you have stellar, professional photos taken of your property. If your home will be vacant or your decor is dated, it’s a good idea to hire a stager. This is also the benefits of working with a Realtor. With the assistance of your Realtor, he or she will be able to transform your rooms, so they look cohesive and polished.
Price competitively: It’s crucial that you ensure your home is competitive by pricing it to sell. Your Realtor should survey similar homes on the market to see what they’re asking. Make sure your asking price is either on par with or lower than the comparable homes in your area. And when you do get an offer, make sure that you judge it fairly. Since you have less power to negotiate, you should consider offering to pay a portion of the closing costs and for any repairs requested.