Wednesday, July 2, 2008

8 Tips For Sellers In A Buyer's Market

It’s a buyer’s market, but sellers can increase the chance of a sale in today’s climate by working with a Realtor and considering these eight things.

  1. Don’t count on open houses to sell your home. According to the California Association of Realtors, less than 5 percent of buyers find their home at an open house. An open house should never be the center of a prospective real estate agent’s marketing plan.
  2. Target your marketing. Know what buyers in your area look for and emphasize your home’s appeal accordingly. This includes everything from the description (whether you highlight transportation and parks, or restaurants and nightlife) and how you stage the home (whether the third bedroom becomes an office), to where you advertise the listing (a newspaper in addition to online).
  3. Tour similar homes in the area to better understand the competition – what a home sold for 12 months ago, or even six months ago, may not be a good estimate for today.
  4. Consider staging your home. Although not always necessary, staging can make a difference in how your house is viewed and compared to others.
  5. Offer prospective buyers a neighbor “reference” list. Make a list of your best, most reliable neighbors, so that buyers can reach out to get a better feel for the area, the locals, and what makes the neighborhood a truly unique place to live.
  6. Photos posted online should be taken on a sunny day with a wide-angle lens. Approximately one-third of buyers who responded to a recent survey said they would eliminate homes they saw online if they had too few or poor quality photos.
  7. Consider a pre-inspection to give you a selling edge. Include information about any repair work you’ve completed since you bought the home. If you don’t market your improvements, you won’t get as much return for them.
  8. Once your house is on the market, accept feedback and tweak as necessary.


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