Selling a house might seem like a simple thing. However, given the uncertainty existing in the U.S. housing market at present, one can never be too cautious. The economy is still far from recovering and as a result it is a difficult time for sellers. According to the National Association of Realtors, the last quarter of 2012 saw housing sales drop by 1 percent. The average selling price of a home, meanwhile, has not increased enough either. So, it becomes important that you come up with something innovative to make your home lucrative or at least somewhat appealing to buyers.
The Right Price
Getting the price right is of the utmost importance. The price tag has to be appropriate from the day the property goes on the market. The worst thing you can do is put up an inflated price at the beginning and then lower the price later on. Statistics indicate that a listing attracts the most number of views on real estate websites, the first few days after the initial posting. You have only one chance to get the pricing just right. Randy Hancock is Senior Marketing Coordinator with Home Star Search, a national listing service for lease option homes. He cautions utilizing best practices in this aspect. “Many people think it is a good idea to first test the market with a price which they can later change. Nothing could be further from the truth.”
The Professional Touch
The saying, “a picture speaks a thousand words” has been found to be true in the real estate field. A well-composed picture of high professional quality can turn the tide in your favor in a jiffy. This is because first impressions are lasting and critical. Working with a real estate agent can also give you an edge in the market.
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Incentives and Enhanced Marketing
It is important to position your home as being different from the others in the market. So, you can offer some kind of incentive for the buyer—much sought after tickets to a sporting event or perhaps a dinner voucher to one of the city’s finest restaurants. As for marketing, the reach of the Internet should be used to its maximum potential. Advertising through social media networks is sure to enable you to acquire more publicity than through any other medium.
Time the Listing
The day of the week you post your listing on is also a crucial factor in attracting buyers. If you list your ad closer to the weekend there is a probability that more people will see it and attend your open house. “Though people might scout for their dream homes all through the week, most of them can see the homes in person only on weekends. So, if your listing appears closer to the weekend it is likely to remain fresh in their minds when they go house-hunting,” says Hancock.
Stage the Exterior
Most people neglect to clean up and stage the exterior of the house before an open house. “There is no point having a sparkling interior and a messy exterior. It is the exterior that prospective buyers will first see when they pay you a visit,” says Hancock. Sprucing up the yard and front lawn as well as staging a picnic or barbeque in the backyard is likely to attract the buyer’s eye.
These tips are sure to help better your prospects of selling your house at the earliest. However, there is no denying the fact that unless there is some stability in the housing sector or bright spot in the economy, it is more of a buyer’s market and will remain that way for some time to come. This is certainly good if you are a buyer though.