Selling Your House In A Tough Market Is Tough, But Can Be Done
May 24th, 2010 by Kristina A. McveighThe biggest step in a falling homemarket is making the decision hether to sell or not to sell. In the good old seller's market days, everybody and his brother put their houses up for sale even if they really didn't want to move, just to realize the profits their home has accrued over the years. That is far from the the way it is today, where sellers are losing money on their homes;so you should make sure you really want to sell now.
When you don't have a choice, for example, if you are being relocated, be ready to try hard to get a good price for your home. Unless forced to sell, the best advice is to wait. Real estate prices have been rising and decreasing for decades, and though we may not see the crazy days of the early 21st century, prices will once again stabilize and start rising.
Once you have decided you have to sell, you have to decide if you want to sell it yourself or use the services of a real estate broker. Paying a real estate commission will greatly lower the proceeds from your home. But remember that it is a lot of work to list, show and sell a house. If you won't have the time to devote a great deal of effort to it, the price may be worth it. Today's difficult market has also meant that real estate commissions are much more realistic.
Pick your agent with a lot of care. Search all the recent local sales, and see which agents are responsible for most of them. Make sure his listings have moved quickly in relation to other sales in the area.
After you have chosen the agent, work carefully and closely with her. Contact her for news about what clients are seeking, when she is showing your home next, etc. Keep your home in his sights as much as you can. Make your house always available for viewing, or allow the agent to have a lock box. There are so many homes for sale, there is a real threat that a buyer will just skip yours if it is too much trouble to view it.
Prepare, prepare, prepare. Do everything you can to make your house stand out in this market. Hire a handyman or home inspector to find any potential issues and address them before they can be a deal killer at the end. Vacuum, dust and make the kitchen and bathrooms shine every day. Keep the lawn mowed, bushes trimmed and make sure there are no broken boards, crumbly concrete or other signs of neglect. A buyer will have no problem telling the agent to drive onto the next house if yours looks terrible before he even steps in the door.
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