How To Sell Your Home Faster In A Cooling Market

Posted on: 24 January 2017

Attempting to sell your home in a cooling real estate market where supply exceeds demand can be daunting to say the least. Your home could end up sitting in the market for months, requiring that you spend more on agent fees, advertising, and home maintenance.

Many folks result to lowering their asking price so as to attract more buyers, but this can be counterproductive, especially if you have put in a lot of cash into home improvements. Luckily, these tips can help you generate more interest in your real estate property and hopefully fetch a fair price in a declining market. 

Make your property stand out 

The first step to generating higher interest in your property is to make it stand out from other homes in the neighborhood. You can do this by investing in custom designs and additions such as marble countertops, high-grade windows, and outdoor lighting. However, you should be careful not to go overboard with the improvements, as you may end up spending more than you can recover from the sale.

The trick is to include unique and memorable additions that will attract buyer attention and complement other amenities in the home without spending a fortune. For instance, building a deck adjacent to your outdoor pool can be a practical and affordable home improvement that will appeal to a wider audience and make your home stand out from the competition.

Your real estate agent can give you a brief outlay of what similar homes in the neighborhood are offering so you can identify unique amenities that can be added to your property to get an edge over the competition. 

Ensure your home is in "move in" condition 

Giving potential buyers the impression that they will be able to move right in and feel at home as soon as possible is often an important strategy in generating higher interest in your home. Start by de-cluttering the space so buyers find it easier to picture themselves in the property. You should also ensure that the appliances, electrical and plumbing fixtures are in good working order.

Sweeten the pot

The final tip in making your home sell faster is to include terms that sweeten the deal. Buyers are often looking to close the sale in a short amount of time, so you can lure them into signing a contract by promising to close on the home as soon as possible. You can also offer potential buyers some credit to cater for closing costs or decide to cover the closing costs yourself. 

For more information and tips, talk with agents about real estate for sale and what you can do to improve your chances of selling.