Home sellers have lots of options when is time to sell their properties, however there is no magic formula that will guarantee in achieving the best and highest price possible for their homes. This is why I like to partner with my clients to guide them through the complexities of selling their homes. I assembled a team of true professionals with experience, dedication and strong communication skills to help ensure a successful and profitable sale of your home.
Today, we'll talk about 4 Important Facts To Consider When Selling a House in a Down Market
It is evident that the real estate market has down in the last months of 2022. This does not imply, however, that homes are not selling.
Here are some key areas to concentrate on if you're trying to sell your house hoping for the best results.
1. Showcase your house at its best.
Always pay attention to how your property is set up and displayed to potential buyers. With a smaller pool of potential buyers and a wide range of options, it's essential to make sure you take every possible step to make your property stand out from the competition. Your extra efforts to present your house at its best could really make a difference.
2. Establish the right price expectations
In the current market conditions, it is essential to start with a reasonable listing price.
Homebuyers currently have a wide range of options and do not feel particularly rushed to make a decision. If they think your property is overvalued, they might pass it up in favor to a better deal. Even with an aggressive marketing campaign, the right price is the most important factor when buying a home.
In a sluggish market, "chasing the market down" might be a dangerous approach when selling a home. This occurs when a homeowner initially sets their pricing expectation too high and after some time passes without a sale being made, the seller lowers their price to a more reasonable amount. However, the market has now declined even further, making the recently revised price still too high to achieve a sale.
The best approach is to be confident with your listing price from the very beginning...this market is not forgiving for overpriced listings.
3. Apply quality and professional marketing to your listing.
Quality marketing is always crucial, no matter what the state of the market may be. It is also even more important to your outcome if the market is cooling off. When buyers have a variety of listings to choose from, it is paramount for your property to stand out. The investment your listing agent makes for all the marketing efforts to sell your house, has to be substantial and focused.
If your house does not sell in a reasonable time... the momentum drops and buyers may begin to believe that there is a problem with the house, maybe overpriced, or has many costly defects.
4. Choose the best agent
Most sellers would probably agree that working with a real estate agent that can connect with all possible buyers is crucial when the market is slow.
You'll need someone with experience with plenty of resources that provides proven results, a great marketer across all media platforms, and a strong negotiator. This is the time when a real estate agent's professional services pays off. The agent you choose will affect whether your property sells or stay stagnated in the market attracting only low bids.
Despite the fact that some sellers may find the real estate market to be a little gloomy and depressing, it is important to keep in mind that buyers and seller always have a need to move, not because of the market but for personal reasons.
Always consult with your real estate agent about your home inspection results and the options you have inside the sales contract that you've signed.
To purchase your dream home or a great foreclosure property, is about being educated, thorough and patient with the process. The most important aspect of finding the perfect home is working with a real estate agent who is highly skilled in negotiation and understanding of your expectations!
For more information or assistance to help you find a home in the Las Vegas and Henderson area please call us at 702–845–8540