Selling your house in a slow housing market isn't the same as selling your house in any other type of housing market. If you want to be successful, then you need to take the market into consideration and form your plan accordingly. Here is how you sell your house in a slow market where many people are lucky to be able to sell a house at all
Get Those Repairs Done
There are too many houses up for sale and too few buyers. This means that buyers are raising their standards. They don't have to go with fixer-uppers right now to save money, so they are looking for houses where the repairs have already been done. Houses that have already had all the necessary repairs done are going to stand a better chance of selling than houses that haven't. Know this and complete those repairs.
Choose The Asking Price To Fit The Market
Again, there are fewer buyers and more houses for sale, so your asking price needs to acknowledge that. You may think it is a good idea to make the asking price higher to start and then come down as needed, but that won't bring in the offers right now. The price that you ask for your house needs to match its current market value. You need to accept that, or wait to sell a house when the market is working a little more in your favor.
Pick The Right Agent
Some agents are better than others at selling houses in a slow housing market. Before you pick an agent, find out how long it usually takes them to sell a house. If it takes them between three and four months, then you have someone who knows how to work with this type of market. If you have someone who typically takes six months or longer to sell a house, then you might not want to have that person as your agent.
Agents who know how to work with this type of market won't take that long. At Realty Executives, our agents know how to work with every type of market to deliver results in a timely fashion. We are experienced realtors who can help you achieve your real estate goals.
Stay Flexible When Showing Your HomeYou don't want to do anything to discourage potential buyers, so your home should always be ready to show. This means that you need to keep it clean, and you should be prepared to vacate the premises when potential buyers want to see it. It may seem like an inconvenience, but making sure that your home is always available to show will mean that it will get seen more, and you will have more potential buyers.
Treat Every Offer SeriouslySometimes offers can be so low that they are downright insulting, but don't act like you are insulted. People submit whatever offers they want to, and you can and should always submit a counteroffer. For all you know, an exchange that began with an insulting offer on your home could end up as a sale that makes you very happy.
Selling your house in a slow housing market can definitely be done. You know that because people do it all the time. The ones who do tend to follow these guidelines because these are the essential rules of selling a house in a slow market.
Would you like to talk to an expert in Central Florida`s residential real estate? Interested in Florida real estate or Orlando office space? RealtyExecutivesFL.com specializes in the Central Florida real estate market. Contact us online or call us at 1.888.HOME.427 and let us help you with all of your real estate needs.