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The-Mortgage-Gal
Selling a house in a slow real estate market can be difficult.  (Photo: Flickr user, nicksee)
Selling a house in a slow real estate market can be difficult. (Photo: Flickr user, nicksee)

Selling in a slow market

by - Story: 47750


Selling a house in a slow real estate market can be difficult. In times like these, it’s not enough to simply list your home and wait you actually have to sell your home. Here are five tips from a real estate sales rep to get you started.

  • Know Your Market

    Learn your market, the value of your property and your competition. Most sellers operate in the dark, simply offering the property for the price they want, without regard to what other homes have sold for and are currently selling for. Undervaluing or overpricing your home can cost you tens of thousands of dollars.

  • Price Your Home Right

    With homes sales slowing and prices plunging, there’s little doubt that selling for a good price in today’s market is going to be tricky. So if you try to ask as much for your property as your neighbour got a year ago, you’re going to turn off potential buyers. Instead, price your home conservatively by looking at similar houses currently on the market. If you really want to stimulate a sale, you should under price your property by just a little. Trimming the price by a few thousand dollars can generate more foot traffic and create a buzz.

  • Make Your Home Presentable

    Keep your house looking good at all times, repair things that are broken, and replace things that are rundown. Add a fresh coat of paint (neutral colors best), freshen up landscaping, trim trees, clean up clutters and remove personal items, so that prospective buyers can picture themselves in the home rather than seeing you there.

  • Be Flexible with Showings

    It only takes one buyer to get your home sold. Don’t make your Realtor feel as though their request for a showing is an inconvenience.

  • Offer Flexible Terms

    Often, the best way to sell a home more quickly in a buyers market is to adjust the terms of the sale instead of the price. While it may sometimes be necessary to adjust the asking price downward, or to negotiate a lower price with the buyer, sometimes offering an extended closing date will go a lot further.

    (Source: Kevin Kittimer, Canwest News Service)


  • More The Mortgage Gal articles

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    About the Author

    Tracy Head and Laurie Baird help busy families find mortgage solutions. Together they have more than 45 years of experience in the mortgage industry.

    With today’s increasingly complicated mortgage rules, Tracy and Laurie spend time getting to know the people they work with and help them to better understand the mortgage process. They support their clients before, during, and after their mortgage is in place.

    Tracy and Laurie work closely with their clients, offering advice and options. With access to more than 40 different lenders, Tracy and Laurie are able to assist with residential, commercial, and reverse mortgages in order to match the needs of their clients with the right mortgage package.

    They work closely with their clients to find the right fit, and are around to provide support for years down the road!

    Contact them at 250-862-1806 or visit http://www.okanaganmortgages.com

    Visit their blog at https://www.okanaganmortgages.com/blog

     



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    The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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