A buyer’s market is a real estate market that has more sellers than buyers. It’s more difficult to sell your home, but not impossible. Today, I’m going to give you 5 tips on how to sell your home in this real estate market.
- Choose a reputable realtor – Make sure your realtor is someone you trust, feel comfortable around, an expert in that niche, and you know is working hard to get you the best deal possible.
- Keep emotions out of it – Your emotions can have a major impact in the process if you let it. If a buyer has a lower offer, don’t just turn your shoulder. Try to work with them to get to your price point. Your knowledgeable realtor should advise you to do the same.
- Don’t hide defects about your home – “What’s done in the dark, sooner or later will come to light.” Hiding defects is a way to save money, but in the long run this could cost you more money(lawsuits). Also, make sure you don’t over remodel. You have to remember that everyone doesn’t have the same taste as you. If you’re going to remodel, keep it neutral and simple.
- Price Realistically – As a seller in a buyer’s market you have to understand that you’re not going to get your fantasy price. Find what has sold around your home and also view how many days the homes were on the market. It takes time and research to find the right price to sell your home, but it can be done. This is another reason you should have a knowledgeable realtor.
- Don’t accept an offer you don’t understand – If the offer is not clear to you, have your realtor or a real estate attorney thoroughly explain the contract and what ever else you don’t understand to you. This is a huge transaction, don’t sign anything that may hurt you in the long run.
The housing market is slowly but surely improving. Research the real estate market in your area, it may be better to stay in your home a few more years to get a better price. Talk it over with your realtor, but know the final decision is yours. I hope this information is helpful.