How to sell your property in a buyers market
Posted on September 2, 2009
Filed Under Real Estate Articles, Selling your home | Leave a Comment
For whatever reason you are selling your home, in a buyers market it is imperative that you educate yourself fully on all aspects of the sale.
Using a qualified local Panama City real estate agent should be your first step.
A qualified local real estate agent is not only experienced in selling properties in your local market, but also knows:
- The importanace of marketing the property successfully
- Delivers the best opportunity to sell the property for the highest amount
- Recognizes and knows how to prepare a property for sale
- Knows how to price a property suitably for sale
- Knows what comparable properties are selling and why
Given these facets of the sale, obtaining the right real estate agent is the smartest decision you will make in the selling of your property during a buyers market.
Ask questions of your real estate agent, lots of them. Make sure they will be not only placing your property in the local MLS but also advertising the property using these techniques:
- Website Promotions
- Print advertising
- Open Houses
Next, it is imperative that you respect your real estate agents advice. When they suggest to:
- Cut and clean the yard
- Clean the house and get rid of all cluttered particulars
- Take away personal items and pictures
- Make any required repairs quickly
Agents make these recommendations not to affront you or your property, but to assure you will get the highest offer potential from likely buyers.
In a buyers market it is important to realize that there are numerous other properties similar to yours on the market.
Therefore, your property must surpass and be recognized as THE property to purchase above all others.
The selling price is a major component in a buyers market.
If your property is priced too high:
- Very few buyers will consider your property
- Very few agents (who know what the asking price should be) will present your property
- It will stay on the market a very long time, until the market prices appreciate to your asking price
Aligning the price according to your real estate agents suggested asking price will give your property a “selling chance” in a buyers market.
In a buyers market, there are usually more properties on the market for buyers to consider.
To provide your property with the highest profile possible and best opportunity for sale here are some additional suggestions that I have used successfully:
Offer as many bonuses to buyers as possible, including:
- Offer Closing cost aid to the buyer
- Offer beautifying allowances (painting, flooring etc)
Offer inducements to other real estate agents:
- Use originative commission splits for other agents, such as proposing a higher commission for a full price offer
- Allow for additional bonus’ to agents for a full price offer
Selling a property in a buyers market can be good for both the buyer and seller.
Offering buyer and agent incentives assures your property the best chance of a profitable sale.
Using a local qualified real estate agent who has a direction and complete knowledge of the local real estate market and furnishes state of the art marketing proficiencies will greatly improve your opportunity for a sale.
© Copyright 2009-109 Jennifer MacKay and Panama City Real Estate. All Rights Reserved.
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