When selling a home, there’s a lot of different things homeowners should take account of. And if the home is being sold in a buyer’s market, every choice the seller makes should be calculated to help their home. In a buyer’s market, there are far fewer buyers looking for homes than there are homes for sale, allowing the buyers to effectively have the pick of the litter. While this is good for buyers, it can make selling difficult, so it’s important for sellers to always put their best foot forward. To help with that, here are five tips all sellers should know to sell their home in a buyer’s market.
Invest in Landscaping
First impressions are always important, and it’s no different with a home. Having a home with curb appeal by way of great landscaping can be a good way to draw in buyers to make them want to see the home’s interior. Here are some things homeowners can do to help boost their home’s curb appeal:
- Mow the lawn
- Plant flowers
- Paint the siding
- Install a new mail box
- Get rid of weeds and dead plants
Stage the Interior
An easy way to hurt a home’s chances of appealing to buyers is to skimp on staging. Before putting a home up for sale, the homeowners should stage the home to make it look lived-in. This can help give buyers an idea of how they can decorate the home and how their own furniture will fit into the space. Staging is especially useful if the home is currently empty because a lack of furniture can make rooms look small or make the home look cold and uninviting, which can turn buyers away.
Purchase a Home Warranty
While there may be a lot of back and forth regarding if home warranties are worth their price, investing in one for a year can help a Wasilla home sell faster. In a market with such high competition, spending $350-600 can help entice buyers because it shows them that the home is protected. A home warranty can help provide some peace of mind for buyers, and a warranty can be especially helpful in older homes where the appliances may be prone to breaking down due to age.
Choose an Appropriate Price
When selling a home in a buyer’s market, one of the most appealing factors is going to be the price. With so much competition, lowering the price can be a good way to attract potential buyers if it’s done tactfully. For instance, starting with a reduced price is better than starting high and lowering it later on because lowering a home’s price drastically can potentially lead to buyers thinking something is wrong with the home. However, if the homeowner starts the price off too low, it can also deter buyers because it may make them think it’s too good to be true. It’s important for sellers to pick the right price first.
Market Your Home Aggressively
Aggressive marketing efforts help a home listing stand out from the crowd. When a home isn't drawing many buyers in for showings, it's harder to find just the right person who loves the home and wants to buy it. Start by ramping up the listings and advertisements for the property. Flyer services, listings on every website and MLS board, recording and posting video tours, and reaching out directly to interested buyers are all a good start for aggressive marketing. Direct mailing campaigns can also work well for a homeowner working with a real estate agent who has developed or purchased lists of interested buyers in the area.
Leveraging the power of the Internet and search engines can also help a home sell quickly in a buyer's market. Hire a real estate SEO expert to optimize the home's listings for specific keywords so that buyers searching for a "house with a pool" or "three bedroom ranch" will find the listing near the top of their search results. This increases the costs of selling the house slightly, but it's likely worth it for the homeowner who needs their house to sell so they can relocate or upgrade to a bigger home.
Complete Necessary Upgrades
Before selling a home, homeowners may opt to do some renovations to make the home more appealing to buyers. If this is the case, homeowners should have all projects finished before putting the home up for sale. This can improve the quality of photos by displaying finished renovations rather than works in progress, which may put off buyers.
By using these five tips, homeowners can help give their home the edge it needs to stand out in a buyer’s market. For more advice, be sure to hire a skilled real estate agent who can help with every step it takes to sell a home.