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Home arrow Real Estate News arrow General News arrow Tips on Successful House Sales

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Tips on Successful House Sales
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Saturday, 26 August 2006

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A house that goes too long without selling begins to appear "stale" and can actually damage your future chances of a sale. 

There are helpful indicators of houses that are not selling immediately. In a dry market, a sales period of six months to one year isn't unusual. In a hot seller's market, a house that hasn't sold within one month indicates a problem. In either case, there are several steps you can take before putting up the white flag.

en tips to improve sales

1. Videotape your house, inside and out, and watch the tape as if you were a prospective buyer. Sparkling-clean houses sell faster than those that look too lived-in or show an abundance of the owner's personality.

2. Take a second look at your listing price. Selling prices may have dropped since your first comparative market analysis. In a hot market, if you haven't sold your home within one month, chances are good that you've overpriced it. If you do lower your asking price, consider a figure slightly below those of other comparable homes if you are interested in a speedy sale.

3. Do whatever it takes to be away from your home during showings and open houses. The presence of sellers makes it difficult for prospective buyers to take their time or talk openly with their partner and agent.

4. Ask your listing agent to talk to buyer agents in his or her firm who have shown your home.

5. Hold an open house on a weeknight. Competition is lower, and you'll attract the interest of buyers who can't make weekend appointments because of other commitments.

6. Take out some extra newspaper ads or print up flyers, even if your agent is doing a good job with promotions. Look for out-of-the-ordinary places to advertise, such as trade magazines, company newsletters and other alternative resources.

7. Neutralize your color scheme. Most buyers prefer pale, neutral colors that make it easier to imagine a new home as their own.

8. If you've had offers but you considered them too "lowball," try readjusting your sights. 

9. Determine the lowest price you find acceptable, and consider anything more as icing on the cake. In a longstanding dry market you may even have to sell at a loss, so it's important to take every offer seriously. You don't want to alienate a potential buyer who has solid financing because you've set your sights unrealistically high.

10. . Relist your house to give it a kick-start.

Taking Your House Off the Market


Choose your selling season. If you can afford to do so, relist during a more dependable selling season. After warming up in late winter, the market typically starts to peak from the ides of April (yep, tax season makes a difference) until June, when longer days and splashes of garden color make homes look their best. In summer, the market slows to a crawl, followed by a second peak from September to Thanksgiving. From then until January, the market tends to be as cold as a Midwestern winter, but it can also be advantageous to list while the competition is sleeping.

If you're a senior, consider a reverse mortgage. Designed to help seniors who have more home equity than they do cash, a reverse mortgage is a loan against your home.

Rent until the market bounces back. If you must leave your home because of a job transfer or other extenuating circumstance, renting is an excellent option as you wait for the market to regain some heat. If you don't have the time or the talent it takes to be a good landlord, contact a reputable company that specializes in screening applicants and managing properties.

 

-jhd-

 
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