Trying to sell your home in a buyers market can be very difficult at times, and there may be several things that are working against you. Here are a few to consider when trying to sell a home in a buyers market.
It is common knowledge when listing your home for sale to have pictures available for review by potential buyers. But, in a lot of listings of homes for sale there may be very few or no pictures at all. There could be various reasons why the seller does not want pictures of their home available, but potential buyer take this as something is wrong with the property. With the Internet now, it is advisable to have at least 10 pictures or more of the inside and outside of the home. If there is a good selling point that a potential buyer should know about, take a good picture of it and show off your home.
It used to be if a home was a foreclosure or a short sale there was not much information available. But in the current market today you need to have as much information as you can about your home in the listing if it is in a process of being foreclosed on or being a short sale. The buyer or potential buyer needs to know if there’s a lender or third-party involved in making the decision on the approval of a sale of the property and/or price of the property. The more people involved in the sale of the property can mean more time and energy in the sale to get it completed. The more information potential buyers have available on a potential foreclosure or short sale the better chance you have of selling your home.
Another common problem is some realtors will suggest that you list your home below the current market value just to get potential buyers to look at your home. This can bring many buyers to your home because your home is listed below the current market value and they’re looking for deals. Because your home is listed below the current value you also have a lot a buyers looking at your home that are not even qualified to buy your home. Because your home is listed below the current value you may also even create a bidding war on your home which more than likely get the price near the current market value. This has the potential of the home not selling at all because is not a great deal anymore.
A lot at times sellers are advised if they do not wish to make improvements or repair anything prior to the sale that they should include in the listing agreement that the home is being sold “as is”. These two small words could be a reason your home is not selling. Buyers can look at “as is” meaning everything has been removed from the home such as, the stove, a dishwasher, garbage disposal, the garage door opener, ceiling fans, and so on. It could also mean that the home has not been maintained very well and needs a lot of repairs. You are better off not to use the words “as is”, and let the potential buyer decide what needs to be negotiated in the contract for sale, and what does not.