You have probably heard over and over "It's a buyer's market out there." But, in hearing that, many are left wondering what does that really mean, and how will it affect me if I want to sell my home?
WHAT IS A BUYER'S MARKET?
Put simply, the term "a buyer's market" means that right now, that's who has the advantage in the real estate market. Because of these three factors: inventory is high, astoundingly low interest rates, and record-high availability of foreclosed homes; buyers are looking for nothing less than (and can certainly find) what they deem "a steal."
YOU CAN STILL SELL YOUR HOME!
However, this certainly does not mean you will be unable to sell your home! In fact, a buyer's market is a great time to sell your home - since there are so many buyers out there! But, just putting a sign in your yard and waiting for the buyers to stampede won't get the job done! Now - more than ever, you have to have a solid strategy to get your home sold.
STEP ONE: PRICING YOUR HOME RIGHT - THE FIRST TIME!
The homes that are selling right now fall into one of two categories: Perfect, move-in condition at a fantastic price; or Needs work, and is priced well below the neighborhood's "market value." Therefore, you need to make a decision before ever listing your home for sale: Spend some time and money to fit your home in the "Perfect" category, or show your house as-is, and price it in the "Steal" category (which means taking more money off the price than it would cost a buyer to "fix it up"). No matter which route you choose - use homes comparable to yours, in or near your neighborhood, that have sold in the last three months to help you establish the asking price for your home. These are not the days where a seller can risk pricing high to "see what they can get." Pricing your home effectively the first time will help you avoid extended periods of time on the market before a sale, and lost money at the closing table.
STEP TWO: YOUR HOME MUST SHOW WELL - EVERY TIME!
It is imperative that the buyers who see your home get a great first impression. This means don't show your house before it's ready! Listing your home with a disclaimer that "some work still in progress" is a terrible idea. A buyer cannot envision the work that "will be done", nor are they likely to come back later to see what you've done. There are too many homes on the market right now to risk letting your buyers leave your home with a less-than impression. Among the most important factors to ensure your home sells well are: great smells, no clutter, and clean, clean, clean!
STEP THREE: EXCELLENT MARKETING IS KEY!
No matter where your home fits on the "price scale," you MUST get the word out! It is imperative to use all available resources in marketing your home - in order to reach the highest possible number of "ready-to-act" buyers. This means that you (or your agent!) must utilize the latest, cutting edge technology to syndicate information about your home via the internet - to reach buyers both in & out of town, within real estate offices throughout the city (as 97% of buyers work with professional Realtors), and to your neighborhood and to your entire circle of friends and family (leaving no stone unturned!).
While it's true that there is a lot of "competition" out there - if you follow the above three rules - there is no reason your house can't sell! If you would like more information about buying or selling a home in your area, please don't hesitate to contact me! I am always available to answer your questions - and ready to serve your real estate needs. Your complete satisfaction is my goal - because I want to be your Realtor for life!
Lori Day
Infinity Realty
(816) 200-4372 Cellular
(816) 554-6351 Fax
(816) 554-6368 Office
EMAIL: Lori@LoriDaySells.com
WEB: www.LoriDaySells.com
FACEBOOK: www.facebook.com/pages/Lori-Day-Realtor/198561393044?ref=ts
My Mission Statement:
At Infinity Realty, we make a difference in real estate by saving our clients thousands! Whether you're buying or selling, I WILL save you money; with expert negotiation skills and lowered commission rates. When you hire me, you won't sacrifice service! I promise I'll provide you with a full-service customized client experience, at the highest level of integrity. I do the little things that make a difference - from start to finish, and beyond. Your satisfaction is my mission, because I want to be your Realtor for life!
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