Selling Your House In A Tough Market Is Tough, But Doable.
The seller's market is gone and now that it is time for the buyer's to rejoice, do you really need to sell in the first place? A few years ago, almost everybody was putting their houses on the market at ourtrageous prices just to take advantage of the upswing in real estate and the potential profit they could make on their property. That is no longer the case, and values are no longer increasing, but actually decreasing.
If you have to sell due to job relocation or growing family needs or to downsize because you can't manage the house you are living in or you have retired, proceed systematically and carefully. If you aren't forced to sell, however, don't. The real estate market moves in cycles and better prices will come back, if you have the patience to wait it out.
Once you have decided you need to sell, you need to decide if you want to sell it yourself or use the services of a real estate agent. Real estate commissions can be high, and this often makes people to try to sell themselves. The reason realtors have been able to receive such high commissions is because there is a great deal of work to selling a house. Decide ahead of time if you will have the time and patience to do all that is required to sell the house quickly. You may also consider asking your real estate broker if he is willing to negotiate the commission.
Your choice of agent is important. Research the recent sales in your neighborhood to see which agent's names you see most often as listing agent. Make sure his listings have moved quickly relative to other sales in the area.
Then work very aggressively with your agent. Call frequently to see what is happening with your home. Keep your home in his sights as much as possible. Make your house always available for viewing, or allow the agent to have a lock box. Particularly in today's glutted market, you don't want to have a buyer pass over your home.
Prepare, prepare, prepare. This is an important, expensive project. Attend to any little problems, and even consider hiring a home inspector to make sure there are no hidden problems; you can be sure your buyer will hire one and if he finds something you didn't tell them about, there goes the sale. It's a pain, but always make sure the house is spotless and the outside looks attractive. A mowed and trimmed lawn, and a house with no visible signs of neglect will assure a walk through. Many buyers just go right by a home that doesn't appeal from the outside.
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