Whether you’re in a bone-dry market or a sizzling selling season, if your listing isn’t getting any offers, there are some things you can do to increase your chances for a sale. Take heed, because if your property goes too long without selling, it will start to look “stale,” which will decrease your chances of actually selling your home.
Make Sure the Home is Priced Properly.
This should always be done when you first list your home, but it’s important to stay flexible as you watch the market. Your odds of selling are highest if you stay ahead of the curve, not behind.
Get a Home Inspection.
Hire a home inspector to conduct an inspection and fix everything on the list. Then, have your REALTOR® advertise this fact in all of your marketing pieces. This may make your home more appealing to a buyer knowing that the home doesn’t have any major issues.
Videotape the House.
Videotape the house inside and out and then watch the tape as if you were a prospective buyer. Does the house look cluttered? Are there weeds in the lawn? Are there bare spots in the grass? Does the paint need to be neutralized? Homes that are move-in ready tend to sell faster.
Stock the Fridge.
You may want to consider stocking the refrigerator with snacks and water. If you decide to do so, then put a magnetic board on the refrigerator with a note that says to help yourself to a bottle of water and a snack in the fridge. The idea here is to keep Realtors and their clients in your home a little longer. If the refrigerator will not allow you to hang a magnetic board, put a tent sign on the counter.
That’s right, you heard me. Make sure you’re doing whatever it takes to be away from the home during showings and open houses. The presence of sellers makes it difficult for most prospective buyers to take their time and talk openly with their partner and/or agent.
Buy-Down the Rate.
Buy-downs are not new. However, during slower-than-average real estate markets, they become more common and could help a buyer get into your home that they would otherwise not be able to afford. Basically, it’s an offer by which you, the seller, pay a lender to lower the buyer’s mortgage interest rate. If you decide you’re interested in this plan, you can, again, ask your REALTOR® to advertise it in all of your marketing.
Offer to pay some of the buyer’s closing costs. Remember, you aren’t just competing against other sellers in your neighborhood. You’re competing against builders who are offering flat screen TVs, free HOA dues for a year, pools, closing cost assistance, and more… You can cause your listing to STAND OUT from an over-supply of inventory by making one compelling offer home buyers don’t typically see.
Email Your Friends.
One of the things your REALTOR® can’t do for you is reach out to your friends, family, and co-workers. Email the MLS link to your home’s listing to everyone in your sphere of influence and ask them to forward it to anyone they know who’s looking for a home. The more prospective home buyers you can reach, the better.
Can you recall a time when you had success selling a home of yours using an out-of-box or uncommon strategy? I’d love to hear about it the comments below!