Tips for Home Sellers in a Sluggish Market

Find out how to be savvier and strategic in order to sell your home within a shorter timeframe and for a better price. Consider these four points when selling your home:

1. Know Your Home's Worth

Don't rely on just real estate websites for home valuations. Instant home valuations provide a basic estimate, but they are based on past home sales and use computer formulae that do not necessarily reflect current market trends. Your best bet is to get a Comparative Market Analysis (CMA), a professional assessment of your property's value, from your real estate agent. With a CMA in hand, you are prepared to set your list price.

Once you've settled on a list price, have your agent re-evaluate it every couple of weeks to stay current. If you don't get any interest or offers within the first three weeks, your asking price might be unrealistic and should be adjusted.

2. Condition Counts

Quirky fixer uppers are a thing of the past. Today's homebuyer is all about instant gratification, and the last thing he or she wants to do is move into a house that requires immediate cleaning or repair. The best thing you can do as a seller is to present your home to potential buyers in the very best possible light.

To present your home at its best, repaint tired and dirty walls, thoroughly clean all carpets, flooring and windows, and update front landscaping. Organize and update kitchens and bathrooms, the most problematic areas of a home. Make sure all kitchen and bath appliances and plumbing are in good working order.

A home in a less-than-sparkling condition can suggest a desperate seller and may yield a smaller profit.

3. Cover Part of the Buyer's Costs

A generous overture can make you more attractive to potential buyers. Offering to pay some of the buyer's closing costs, funding a portion of the buyer's financing, or paying for inspections or repairs that reduce the buyer's out-of-pocket expenses can help distinguish you and your home from the competition.

4. Enlist Expert Help

Go pro on your home sale by hiring a qualified real estate agent to do the job. An experienced, local real estate agent will be your best resource in helping you to meet your real estate goals in this unpredictable housing market.

When paired with the results of your own research, information provided by your local real estate agent can help you decide if selling your home now is the right thing to do.

Compare and interview several experienced, licensed real estate agents who specialize in your market area.
Ask for each agent's recent success stories in your particular market.
Contact and interview the agent's former customers.

Remember to go with the agent who has been successful in your local real estate market and whose experience, marketing approach, commission rate, personality and business manner best suit your own style.