Selling your home in a competitive market

[marysmith]

The decision to sell your home is never a quick or easy one. It’s the decision to uproot your family, to make new friends, to get used to a new setting, to declutter your life. Sometimes it’s a relieving decision, and sometimes it’s a difficult one, but it’s always attended with a certain amount of nostalgia. However, once the decision is made, you’ll want to be able to get on with the next step of your life. To do so, you need to find a buyer quickly or else end up making two house payments.

Consult a realtor for pricing

The price you bought your home for is likely not the one you’ll sell it for. Home prices fluctuate, and values plummeted following the 2008 housing crash. Since then the market has rebounded, though not everything has returned to its pre-2008 levels. The best way to determine an asking price is by talking to a licensed realtor with experience in your area. Use a website like Zillow to see what nearby houses have gone for and how long they tend to be on the market.

Dottie Herman, a writer for World Property Channel, said, “Pay attention to the condition of [neighboring] properties, as renovated homes will be more expensive than those that need renovations. . . . While underpricing can be a strategy which may attract a larger pool of buyers, you want to have good information to help you decide.”

Timing your sale

The season you introduce your home to the market can have an impact on how quickly it sells. People don’t shop around during bad weather, so winter months tend to be a little stale for the housing market. Spring is a more popular time as people begin thinking about new beginnings, but the market tends to be inundated with newly listed properties at this time so yours may be lost in the shuffle. A balance between the winter months and the spring rush will help put your home at the top of potential buyers’ lists.

Choosing your renovations

You may choose to renovate your home prior to putting it on the market, but remember that the money you invest won’t necessarily translate to a higher home value. It may, however, make it more appealing to home buyers, thus enabling you to sell your home faster if time is an issue.


Source:
worldpropertychannel.com/featured-columnists/q-a-with-dottie-herman/qa-with-dottie-herman-home-renovations-selling-a-home-8084.php

[bruynjustin]

Yes, In today's market, it's tough to sell just one home. Competitive market requires effective marketing strategies and the resources to implement them. There are many property agents in the market to sell your house with best price.

[praveen2014]

Yes, it is a competitive market . you have to do proper traditional as well as digital marketing. So that you can get leads and then you can convert leads into clients.

[dannyspastics]

Yep you are right Selling your home in a competitive market isn't that easy process. but if you are selling your home direct to the buyer instead of brokers or other Realtor then you can get a good value for your house. 

[Davis Patch]

About second i think it depends upon every office. a lot of companies will offer a start up fee. Just interview a bunch of different companies and see which ones do it for free for you. So even with out fee it's gonna be tough. Almost the same is with rent.

[dannyspastics]

I am agree with Davis, Its a best idea to find out which offer is good for you. It will take some time but you can get the best deal.

[homesteadroad]

An open house is also a great way of inviting maximum buyers to a property so that best deals can be made

[andise84]

I agree with well-renovated house is more likely higher than the one that needs to be renovated. But we have to consider also the surrounding of such place. If we see a lot of establishments have already stand around it plus the vicinity is very convenient too, we believe there has a price increase on your property. 

[marksmith]

Hi mary smith,
Informative thread. I agree with your point, nowadays selling a home is a challenging task. If you want to get the best price, it is important to use the effective marketing strategies and take help from a realtor.
Thanks!!

[heartlandbuyshouses]

Good Thread. Make sure you have a firm  knowledge of the current real estate market.  This means you going to compare properties that have been sold and are still on the market.  Also, successful marketing strategies and home staging really do matter in order to sell your property in a competitive market.

[caroline]

Hello,
Great information.

Here are some tips, which will be helpful  to sell your in a competitive market:-

Know your competition
Be prepared, inspect and disclose
Work with an experienced buyers agent
Make Your Offer Appealing

Thanks!!

[SolutionHomBuyers]

Here are some tips for selling your house quickly and for top dollar in a competitive market:

- Price it right from the beginning
- Improve the home’s curb appeal
- Update the interior and exterior
- Clean the home and declutter personal belongings
- Stage the house and/or rearrange furniture to show highest potential
- Make the house available for showings at all times of the day, 7 days a week
- Take your pets out of the house
- Make sure you’re listed on all major real estate listing sites
- Have great professional photos taken, not pictures taken from a cell phone
- Highlight all the positive features of the neighborhood. Sell the neighborhood, not just the house

[homesteadroad]

In this competitive market, we should avoid these mistakes.

 - Skipping the proper advertising
 - Demanding too much
 - Not making the necessary repairs
 - Not depersonalizing the house
 - Waiting until the last moment

Also, you must accept that buyers would always try to bargain and you should be ready for it. Set a limit for accepting the offer and let the buyers feel that you have listened to them.

[Aubree]

Get a realtor!  They can do a (typically free) market analysis of the property to let you know what comparable homes in your area are selling for.

[krishnaparthu]

Do proper market evaluation and analysis and based on that put a price tag for that.
In case if you need help or further assistance get help from a realtor.