How to Sell My House in a Buyers’ Market
Many sellers are asking, why can’t I sell my house? We are beginning to see a market cool down here in Texas, along with much of the country. The real estate market is shifting from a seller’s to a buyer’s market. A buyers market means that more homes are being put on the market, with fewer buyers to purchase them. The question of “why can’t I sell my house” is being asked more and more. For now, it is no longer realistic to expect your home to sell overnight. If it does, consider yourself blessed. In fact, we can expect the market to cool even more as we approach the holiday season. It was not so long ago that buyers rejoiced after winning a bidding war for a property.
Now that those days are gone, at least for now, sellers have to do everything thoughtfully and correctly. Sellers must be spot on, from initial pricing to marketing strategy, if they want to sell their property on a reasonable timeline.
However, if a seller adapts and takes the job of selling their property seriously, they can beat the upcoming buyers market. Here are a number of things that sellers can do to and not let the buyer’s market get the best of them.
These sets of rules are crucial to follow if you are asking, “how long will it take to sell my house.” It forces both agents and sellers to think about every aspect of the real estate transaction process. It is vital to get it right and get it right the first time.
Here are five sell my property tips to focus on while you prepare your house to sell in a buyer’s market:
How to Sell my House Tip – Set the right price
It is vital to know and understand the recent sales price of comparable homes in your neighborhood. Secondly, it is good to research the asking price of similar homes in your area that are on the market. This is where a knowledgeable real estate agent can be valuable. During a buyers market, you do not want your asking price to be off the charts and into the heavens if you are serious about selling your property. Buyers are looking for deals, and the current market may afford them that.
The first “sell my house” strategy is adjusting your price, creating room to negotiate. For this “sell my house” strategy to work, buyers must believe they are getting a good deal. Price up the asking slightly, but not out of sight scaring off buyers. It’s essential to understand in this market climate that if you price your home low, buyers will still make even lower offers. Don’t let this fact upset you. It is just the way it is, so plan accordingly. Under pricing works best during a seller’s market, allowing multiple buyers to drive up the price. In a buyers market, bidding wars rarely happen. For this “sell my house” strategy to work, you must take the time and research your area to gain accurate numbers and statistics.
How to Sell my House Tip – All about the Staging
First impressions matter! They matter even more when we are in a buyers market. Make the first impressions count. Be sure your presentation is fantastic, or at least as impressive as it can be. The second “sell my house strategy is all about staging inside and out. Staging all begins with curb appeal. The curb appeal is the first thing a buyer see’s and dramatically influences their thoughts about your property. Take your time and make it the best it can be. Sellers can often enhance their curb appeal for little money. You do not have to spend tons of money for this “sell my house” strategy to work. A little paint and some yard decor can go along way and are typically inexpensive to accomplish. Sometimes you made need to spend a little money if you want that big payday, especially in a buyers’ market. Remember, you are competing with other sellers. In order to beat them, you must be at your best.
Most importantly, remove any trash or clutter from your home. Buyers expect to see a nice clean presentation. Again, a knowledgeable real estate agent or home stager can help you in this area. Read my article about what NOT to do when staging your home. You may find it informative.
How to Sell my House Tip- Marketing Strategy
The biggest mistake many sellers make is using poor images to showcase their home. The photos showcasing your property to the public are the buyers’ bait. Check out my FSBO video explaining this. This “sell my house” strategy is crucial, so don’t rush through it. In some cases, even hiring a professional may prove to be worth it. I will also give you another important piece of advice. For this “sell my house” strategy to work, you must be sure all of your images are quality, not just the cover. One poor photo can ruin the desired effects of the other great photos. The best time to take your photos are sunrise and sunset. This “golden hour” provides warmth and beauty, giving your photos distinction.
The next “sell my house” marketing strategy is leaving informative information about your home in the form of a brochure or pamphlet. It is important that the buyers can take something tangible with them to remember your property. Again, it is all about beating the competition. Make sure your media is well done and looks professional. Using a laminate coating works well.
Open Houses are the next “sell my house” strategy. Many think that holding open houses is outdated, but I can assure you if done correctly, they can be very effective. Check out this article by forsalebyowner.com that I contributed to.
Understanding how to market on the internet is an important “sell my house” strategy. Over 90% of buyers begin their home search on the internet. Learn how to effectively position your property in order to gain the maximum amount of exposure.
Work with your Realtor if you have one to review and plan a comprehensive “sell my house” marketing strategy that fits your specific property. There are a host of ways and might include a social media advertising campaign, custom video tour, and open house. For the best results use all of these “sell my house” strategies.
How to Sell My House Tip – Showing Availability
Accessibility is a key “sell my house” strategy. You must be willing to make your property accessible to buyers as much as possible within reason. Be aware that most buyers love to look at property in the late afternoon after work and on the weekends. That is the reason you see open houses mostly on the weekends. These are the most critical times you need to make your home available to be viewed. This “sell my property strategy can be frustrating and tiresome. Think of selling your property as a temporary job because it genuinely is. The more relaxed you make scheduling the showing with the buyer, the better it is for you. Sometimes success is all about showing up. We are talking about the buyer showing up in this case.
Analyze and Adjust
After you have done everything you should to prepare and execute, all you can do now is analyze and adjust. The real estate market can be very unpredictable. You may go for a month without a single call, then inside of one week, you get four calls. It really does work in this way. Continue to educate yourself, keeping apprised of the latest comparable data for your neighborhood. Pay close attention to how many days on the market a particular property sits until it sells. Drive around and look at your selling competition. How does their curb appeal look? What do the neighboring houses look like? DO you see any cool ideas you can implement into your own property? Be open and ask buyers and friends what they really think about your property. It is smart to ask for their criticism to you can make appropriate changes. Consult a buyer real estate agent, ask them for their advise and offer to pay them a commission for their help. Odds are, the buyers’ real estate agent will require a commission anyway.
How to Sell my house Tip – Don’t Sell
If the time is not right and you do not need to sell, then don’t. Wait until a more favorable time of year or market condition to arrive. There is no sense beating your head against the wall in frustration. Be patient, and eventually, the time will be right. By employing this “sell my house” tip, you will keep your sanity to fight another day.
The real estate market is evolving into a buyers’ market. How far it goes and when the pendulum will swing back, remains to be seen. Now more than ever, sellers can’t take anything for granted. If you are a seller and want to get top dollar for your property, follow the “sell my house” strategies that I have laid out here for you. In the end, consider these tips as best practices for any real estate market, good or bad, up or down. Get serious and beat your competition; you got this! Let me know if I can help; I would be happy to help or at least point you in the right direction. Take Care.
About the Author
Benjamin Ross is a real estate expert and professional who serves the state of Texas. Benjamin started his career in 2002. He was a director for private investment companies, responsible for acquisitions and management of real estate.
As a Realtor, it is Benjamin’s priority and intention to treat you, the client, the way he would want to be treated if he was the client. Benjamin believes every client is unique with a unique set of goals. It is Benjamin’s job to help his clients accomplish their goals big and small.
As an Investor, Benjamin has an extensive history working with real estate investors. It can be challenging to find a realtor with personal real estate investments and the experience that comes with it. The fact that Benjamin is a real estate investor and Landlord makes him unique and beneficial to his clients.
As Source Expert, Benjamin also serves a variety of journalists and bloggers. Benjamin has a passion for teaching others about the real estate industry. Knowledge is power, and Benjamin does not mind sharing it.
Benjamin loves to partner with other professionals across the state of Texas.
As a team player, Benjamin embraces the knowledge and experience of others. He is always open to new ideas and opinions of others if it results in the success of his clients.
Real Estate Aside…
Benjamin owned and operated a therapeutic group home for special needs children. He specialized with the care of children who had down’s syndrome and severe autism. Benjamin started a non-profit company, Yoshua Haven, and partnered with Toys for Tots to ensure disadvantaged children in the state system had Christmas gifts during the holiday season. Secondly, he partnered with warehouse distributors to help distribute food to the homeless and low-income families in the DFW area.
Benjamin has three beautiful daughters and a loving fiancee. He resides in Corpus Christi and McAllen.
Benjamin’s Published Articles and Quotes (see all)
Because of Benjamin’s knowledge of real estate, his quote’s and articles have been featured in many publications nationwide, including the ones’ displayed below.