You CAN Still Sell Your House In A Falling Home Market
The seller’s market is gone and now that it is time for the buyer’s to rejoice, do you really want to sell in the first place? A few years ago, almost everybody was putting their homes on the market at outlandish prices just to take advantage of the upswing in real estate and the consequent profit they could make on their home. That is far from the case today, when sellers are losing money on their houses;so you should make sure you really want to sell now.
When you don’t have a choice, for example, if you have a new job, be ready to fight hard to get a good price for your house. Unless forced to sell, the greatest advice is to wait. The housing market is cyclical, and this cycle will run its course and eventually supply and prices will seek a new level.
Once you have decided you have to sell, you need to decide if you want to market it yourself or use the services of a real estate broker. FSBO, for sale by owner, homes are becoming more and more common as today’s high house prices make real estate commissions of 5 or 6% seem exorbitant. Commissions of five or six percent have been known in the past, and agents feel they earn it because they have to devote so much work into a sale. Decide ahead of time if you will have the time and dedication to do everything that is necessary to sell the house quickly. Today’s difficult market has also meant that real estate commissions have become much more realistic.
Pick your realtor with a lot of care. Search all the recent local home sales, and see which agents are responsible for most of them. Check to see which ones had properties closing in the shortest length of time.
After you have chosen the agent, work carefully and closely with her. Be as pesty as you can and check constantly about the status of viewing appointments, etc. Keep your lisitng in his sights as much as possible. Be as available as much as you can for the house to be viewed, or set up a lock box system. There is a lot of inventory out there, and buyers are not willing to go back to see the home that was not available when there are so many more to see.
Be 100% ready. This is an important, expensive project. Take care of any issues the home has so it will be more appealing to buyers; you may consider hiring an inspector to help you with this. Maintain the home spotless at all times. Keep the lawn mowed, edges trimmed and be sure there are no broken boards, crumbly concrete or other signs of neglect. Buyers have been known to ask the real estate agent to drive right by a house that looks shabby from the outside.
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