I have a compiled a list of 8 things savvy sellers can do to get there home sold in this market.
1. Know and understand your homes value. You home is not worth its last appraisal, its not worth what the county tax assessor said, and its not worth what your neighbor 3 doors down sold his home for 6 months ago. It is exactly what someone is willing to pay for your home today. Hence, price realistically and broaden incentives, such as closing costs and throw-ins like appliances, or offer to fix minor problems. There is an old saying: “There’s nothing wrong with a home that price cannot fix.”
2. Hire a top pro former. In this market you need a qualified professional marketing your home. You should look for an agent with a great online presence as well as great sales numbers. 80% of home searches start on the internet your home needs to be one that potential buyers see. Look for an agent that sells homes not just lists them. To many agents are running around Iron County taking overpriced listings, they are doing both themselves and there sellers a major disservice. You want an agent that sells homes not just lists them.
3. Know your market, no two markets are alike. Sellers are fighting an uphill battle but homes that are correctly priced and marketed are selling. A little research can go a long way. Ask your agent for some sales trends as well as multiple recently sold and currently under contract comparables. This will help you see what is selling and what isn’t selling as well as give you a great idea about your homes true value.
4. Use the Internet. According to compete.com, total time spent online rose 24.3 percent from the fall of 2006 to the fall of 2007. People still look in the classified and real estate books but its a small minority compared to those who go online to get information. You want your Realtor to have a website that not only looks good but is also easily findable by searching Google, Yahoo, or MSN. (This website ranks #1 for all 3 search engines, and we have over 100 visits per day) Sorry for tooting my own horn but you found this site and so will other people.
5. Rent your home out. If you have rising mortgage payment and cannot sell your home without taking a large hit it may be possible to rent your home out. Ideally you would be able to cover your entire mortgage and have a little left over each month to cover any repairs that need to be done when the market swings and you are able to sell your home. You could also work out a lease to own option with any potential buyer.
6. Curb Appeal. In this market you need to not only focus on curb appeal but take it a step further to really differentiate yourself. Consider adding a fresh coat of paint. Ideal in a neutral color, you could even take it a step farther and hire a home stager. Another great idea is to get a pre-sale home inspection. This way the inspector can find any problems with the house and repair them before your buyer finds them. Obviously, you would need to disclose these problems but you could show the repair receipts and it shouldn’t be a problem.
If you would like more ideas on ways you can improve your chances to sell in this market please call or email me. Sam Dodd 435-701-0448 sam@cedarcityonline.com or Heather Carter at 435-559-2791 heatherecarter@yahoo.com