Selling Your Home in a Buyers Market
Claude Braunstein GRI, CRP, GMS
Contrary to popular belief, the real estate market is alive & well in San Diego. Although total sales volume is lower than it was a few years ago, there are still plenty of homes changing hands.
Sellers should study the market before jumping in. Mistakes can be costly so do your homework.
The days when Sellers could put up a sign and sell their homes in a heartbeat above the asking price are still with us! Price your home correctly and buyers will flock to your home. This does not mean you can price your home 10% higher than what your neighbors obtained for a similar home last year. If you want action, you have to price your home below what your neighbors got for theirs. In fact, lenders selling homes they have acquired in foreclosure usually price their homes below the competition and they have no shortage of takers at, or above, their asking price.
Todays Buyers are looking for value. When there are many homes for sale, buyers will gravitate to the best home at the best price. Serious sellers need to spruce up their homes, eliminate deferred maintenance items and price their homes competitively. Sellers who do this will have no trouble selling their homeseven in the current market!
In any market, it is always advisable to work with an experienced Realtor who can help you evaluate the true value of the home you love. Dont be afraid to ask the hard questions: How long has the Realtor been in business? Full time? Has the Realtor earned any professional designations? How many homes did the Realtor list and sell in the past 12 months? Does the Company carry Errors & Omissions Insurance? If you are contemplating selling your home, ask about the Realtors marketing plan: How does the Realtor propose to make your home stand out from the competition? Dont be afraid to ask for references.