Top 3 tips for sellers in the new year

how to sell your home fast

In my previous post, I offered three tips for homebuyers going into the new year. I offered the tips not only because it’s a new year, but also because it’s a new game. We’ve settled into a new market and the rules have changed. It’s a new year, so think new strategy.

This time around, it’s the seller’s turn. Here are three tips to help sellers be successful in 2010.

1. Make your home pop. Buyers have a lot to choose from now, especially with all the foreclosures and short sales on the market. If you want to sell your home today relatively quickly, it has to stand out. You have to work at it and set your home apart from the competition. Curb appeal really matters. So, spruce up the front. Give your home a fresh paint job. A clean property in a good location with strong curb appeal has the best chances of selling quickly and for a good price. And speaking of price…

2. Price it right from the beginning. You don’t want to underprice your home, for obvious reasons. But an overpriced home can turn buyers off. And then your home will sit collecting dust, and making potential buyers wonder why it’s been on the market so long. By then, you may actually have to reduce the price several times to sell it, and you’ll end up making less money for it than if you’d priced it right from the beginning. Plus, if buyers know you’ve reduced the price several times, they may expect further concessions from you.

Bottom line: Build a little room into your price, because buyers expect to negotiate. But don’t price it so high you turn buyers off. If you’re unsure how to do this, ask your real estate agent. Go to open houses in your area. Do your research.

3. Be patient.
It’s a fact that homes just take longer to sell now. We may see some activity this spring, as first-time homebuyers rush to meet the April 30th deadline for the $8,000 tax credit. But overall, and especially in the higher-end markets, you can’t necessarily expect to sell your home in days or even weeks. Truth is, it could take months.

So be prepared. If a buyer sees the grass hasn’t been cut, weeds are sprouting, or there’s noticeable dust in the house, it’s often seen as a sign the house has been on the market a while. Translation: The seller has perhaps lost hope for making a quick sell and is likely to accept a low offer. To avoid this, plan for regular cleaning, landscaping, and maintenance to keep your home looking fresh, however long it’s on the market.

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