So, your house didn't sell. Now what? You're angry, you DO NOT like Realtors®, and you are still in a position of having to do something to get your house sold! Additionally, you are absolutely sick and tired of the phone ringing only to have a Realtor on the other end of the line. Most of them telling you how great they are and that they can sell your house. Perhaps in 70 days or less! Or, even better, if they can't sell your home, they will step in and buy it. Blah, blah, blah! I understand your frustration, this is why you have not heard my cheerful voice at the other of the line. I do not like to receive unsolicited phone calls, so I do not make them.
It’s a whole new world for home sellers. So, how do you make your house stand out so it will sell when sales are slow? Here are some tips on determining whether your house is "Ready to be Sold"
- Pricing - Was it priced at or below Current Market Value? It is crucial that your property is priced at current market value. It is better, if it is priced slightly below. It will attract more potential buyers. Another good tip is to have the price listed slightly below a round number (for example rather than a price of $350,000 try $348,000). Important: If you did not receive any showings or interest in the property in the property within the first few weeks. Something needs to be reviewed.
- Curb Appeal - Was your home visually attractive to the buyer? After pricing, nothing will attract more potential buyers to your home than a house that has outstanding curb appeal. If you haven't done so already, schedule a consultation and/or hire a home stager. Also, make sure your Realtor takes many quality photos. Buyer's are searching on-line and the photos are generally their first impression of your home. Photos MATTER.
- Repairs - Did you fix any visible defects in your property? Is there a loose railing, a broken pane of glass, a leaky faucet, or a loose step? You get the idea, they all need fixing and it is recommended that you get them repaired if possible. A home that does not appear to be maintained will generally receive lower offers. Buyers are looking for good buys, and move-in condition generally stands out above the competition.
- Be Flexible - Be prepared to negotiate here. If the buyer wants to close in 60 days, but you want to close in 30 - NEGOTIATE. If they want the the washer & dryer and you were planning on taking them with you - NEGOTIATE. Don't let that buyer get away.
- Buyer Incentives - Did you consider offering any incentives to the Buyer? With lending practices being more stringent, you may want to consider offering to pay closing costs for the buyer. Closing costs can range from $5,000-$8,000. If that is too much out of your bottom line, then put a cap on how much you are willing to offer as an incentive. Again, this is a negotiating opportunity so keep an open mind and discuss it with your Realtor®.