Tips to sell in a down market
|
Be aware of market signals. If the property does not show then the price is too high. 80% of
marketing a home comes from setting the price.
Be aware of the market absorption rate (AR) for your area. If there are a 120 homes on
the market and 10 are selling per month then it will take at least 12 months to sell (=120 / 10).
Top condition. When buyers have plenty of choice they will look for the best looking home.
The houses that show best will sell fastest. Consider my “Home staging” advice to get the best
look for your property.
Be motivated. There’s no point in listing in a down market unless you’re ready to negotiate
and move with the market forces. Understand that it’s not anyone’s fault… the market dictates
what buyers and sellers can expect.
Get an Agent that will seek out Buyers. The key to selling is to find motivated buyers.
Unfortunately, they are in short supply and so even a top agent will take time.
Be realistic. Don’t expect to make the same gains that you could in a seller’s market. If you’ve
owned your property for several years, you’ve seen good gains already. Take a reasonable
offer.
Consider all approaches. Consider selling through different methods and/or with different
incentives than a conventional listing. Call your Agent for details.
Andrew Darling
Village Realty - Corolla