With home prices crashing and foreclosures and short sales eating up a lot of potential buyers there are still steps you can take to separate from the crowd and sell your home.

1. How about price

I know this is not a new method but how many of you out there don’t listen to a Realtor (don’t just listen to any Joe). This is the largest stumbling block for most home owners, you don’t listen. The data is right there, its shown by comparables and by making realistic adjustments. I currently have this wonderful buyer she is the best, shes patient, excited and hilarious, all she wants is a home that has around an acre for an affordable price. She fell in love with 1 of 2 homes I have shown her and this house has got to be $50k over market at $260,000. There is no way this owner is being realistic, I heard it in the agents voice, her hesitation, her unbelief that this home is priced correctly pierced through our conversation. Price your home right and it will sell!

2. How the property shows and photographs

HA! Your now thinking about the deer antlers that are hanging over your fireplace in the home you tried to sell just 3 years ago. This is very simple, make the necessary repairs and updates, HGTV is not lying! I make suggestions to my sellers on what they can do to turn their home into a quick sale, how you live and how you sell are 2 very different things. If you don’t have the small amount money it takes to get your home in showing condition then make sure you take that into account in your list price. If you do have some money, change those items as soon as possible, it makes all the difference in the world. Would you rather spend $5000 on repairs and updates then lose $15,000 on your sale price?

* Remember just because you list your home for more does not mean you will get someone to pay you more if they are even willing to offer you anything.

3. Here is a small secret

If you purchased at the peak of the market then you shouldn’t sell your home today or for a while. If you bought your home for $500,000 and now it’s worth $435,000 DON’T SELL NOW! If you don’t have to sell then why are you? If you have to sell then get real, list close to what it’s worth in today’s market. Using the same example from earlier, you could list at $447,000 but you wouldn’t want to be at $525,000 that is not a smart move. You will waste more time on the market which will result in a lower sales price. The faster you sell your home the better sales price you will get, take this as advice to heart, the first offer is typically the best offer, not always but a bird in the hand is worth two in the bush! A lot of people snuff offers when they first list their home, you need to be grateful that this buyer can get a loan and wants to purchase your home, roll the red carpet out and get the deal done!

4. 1st time home buyers

They are the market, they don’t have a home to sell and they get a nifty $8000 Tax Credit which half of them don’t know about. They are motivated by time and that the market under $500,000 is very competitive. You need buyers to be educated and that’s why I created the Maryland’s $8000 Tax Credit website, to inform as many buyers as possible before it ends. A qualified 1st time home buyer is by far the best prospect for your home if your home is under $500,000.

5. Closing costs and incentives

Besides 1st time home buyers, closing costs and incentives are your next best friend. If a buyer needs help to buy your home, you better get on board with closing costs and don’t say well I am not getting my full price so why should i help them? Well because your going to sell your home, that’s what you want right? It’s about facilitating the deal, in these tough times not many people have a lot cash to throw down or use to close on a home, a good majority need the sellers help. Incentives can be another good way to get beyond a buyers fears, you could pay the first year of HOA and/or Condo fees, hire a lawn service, fly them to Disney World, again I stress whatever it takes. Homes don’t sell themselves!

This entry was posted on Friday, July 10th, 2009 and is filed under All Posts, Financial Detail, First Time Home Buyer, Household, Residential Real Estate, Sell my home, Short Sale/Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.