Tips to Sell Your Home in the Current Housing Market

by 29, July 2012 20:57

The current real estate market in Dallas and Houston is no doubt favorable for the buyers but at the same time it has made selling a stressful task for the sellers. There are countless homes that stay in the market for a long period before they get sold. Moreover, due to the increasing number of foreclosures, the home values have also gone down terribly.

If you are a seller who is planning to sell your real estate property, you should be careful to stay away from the common mistakes done by sellers while selling their homes.

1.    Accept Your home may have lost value in this market: The value of your home must have been a lot higher in the past; however home values have gone down significantly in the recent times (though reports indicate that prices are creeping back up). Therefore, you should keep this fact in mind and list your home at the current real estate price. If your home is priced higher than the current market price, it will no doubt sit in the market for a longer period till you reduce its selling price.  In addition to not selling it, you will incur cost for maintenance and mortgages, the longer it sits.

2.    Decide an appropriate price by getting the facts: In order to know about the right selling price, you should do some market research to investigate the sales of comparable homes, the price cuts and how long the homes have been sitting in the market. These factors would help you decide the right price for your home. In order to decide the appropriate selling price, it is also important to evaluate your property and compare it to the homes available in the market for sale. You can also take the help of a real estate agent to know the demand of the potential home buyers who are planning to buy a home. Based on the requirements of the potential buyers, you can assess if your home has all the required features to allure the buyers.

3.    Hire an experienced real-estate agent:  While hiring a real estate agent ensure that you hire an experienced agent who is familiar with the area as well as its housing market and one who possesses exceptional marketing skills to promote your house in the housing market.

4.    Allow buyers space while showing your house: This is a grave mistake often committed by sellers and agents. While a prospective buyer tours your home, you or your hired agent should not follow him/her. This helps them to judge the home better.

5.    Use social media to promote your house:  Finding agents and real estate brokerages who are up to date on technology will help imrove your chances of selling. More people are searching online and using technology to find properties than ever before, and this number is not going to go down in the future. For example, utilizing social media and the Internet from cites like YouTube,  Facebook and twitter can help your chances by increasing the marketing exposure for the  home.

6.    Clean your house before showing it to the prospective buyers: It is highly essential to clean your house and keep it in spick and span before each potential buyer visits your house. A clean and tidy house plays a crucial role in attracting buyer.

These are some of the tips that you should keep in mind while selling your home. You should be extremely careful while selling your home as mistake can delay and reduce the possibility of selling your home in a timely manner.

Categories: Sell Property
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