Are You Motivated to Sell?
By Mark Fradl
Photo: © iStockphoto
It's a problem faced by a growing number of Americans—a house that just won't sell. The era of easy credit is drying up, especially for first time buyers. In markets with stagnant or even declining housing values, investors are shying away from purchasing a second or third home. So, if you're a frustrated seller where does that leave you? Hopefully, it leaves you motivated to work a little harder. There are a number of things you can do to improve your chances of selling, and with some ingenuity and a little extra sweat you should be able to tip the balance in your favor.
Sweat the Little Things - A small crack in the wall, a tub that needs to be re-caulked, a dripping faucet—all minor things, but many buyers might see them as warning signs of larger problems. For example, a cracked wall may make them suspicious of larger water damage.
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At the very least, they may see it as evidence that the home was not cared for properly.
Hold an Open House During the Week - More and more people work jobs with unconventional hours so the traditional weekend open house might be missing an important slice of buyers.
Don't Forget the Exterior - Since there are a record number of houses for sale right now, buyers can be very choosy. Buyers may not even get out of the car before rejecting a property. Keep the lawn trim and green, plant some inexpensive flowers, and touch up trim paint where needed.
Get Feedback From Your Real Estate Agent - Sometimes a house has problems that the owner doesn't notice anymore, and a fresh pair of eyes is invaluable. Your real estate agent will give you feedback and get feedback from agents who show your home. The comments their clients make can be a guide for improving the property.
Check Prices for Comparable Homes in Your Area - Even though you probably did this at the beginning of the selling process, prices may have fluctuated since then, especially in a volatile housing market.
Prepare for Bad News - If months have gone by with little response, you may need to ask yourself if you're willing to accept a lower offer, and if so how low. This decision is best made in advance, not in the pressure of a prospective buyer's "take it or leave it" lowball offer. |
