While ideally every seller would be able to put their home on the market during peak market conditions, that just isn’t the way life shakes out sometimes. Unexpected events occur, and sometimes we need to get a home sold as soon as possible, regardless of season or situation. However, with some careful consideration of your ideal buyer, some positive focus, and a little flexibility, selling your home is possible in any season!
Recently, I helped clients who needed to sell their home they had owned for less than a year who found themselves unexpectedly needing to relocate. We were coming to the close of the busy spring & summer seasons and had very little time before kids would be heading back to school and potential buyers would be focusing their attention on other endeavors. Knowing this, we sprang into action and successfully found a buyer using some strategic marketing and tips.
Hire an Agent
A slowed market is not the time to take on listing your home FSBO. Your agent will maximize the number of eyes on your home by listing and marketing it in MLS and on other major real estate websites. With fewer buyers searching, you need to generate as much interest as possible in your home. Offer fair compensation to selling agents as well to encourage every agent out there to market your home to their clients.
Price to Sell and Market Well
When the market slows, inventory goes up and the number of buyers decreases. Know your competition. Go and see it. Check it out. Price your home competitively with or below market value, based on your agent’s market analysis of recent comps and other active listings to attract buyer attention and encourage a quick sale. If you are concerned about needed repairs, consider having an inspection done prior to listing your home to minimize surprises. You can choose to take care of repairs upfront or offer a credit to buyers and market the home as such. Include your home’s special upgrades and features in marketing and make sure to include professional photographs that show your home in its best light. Consider offering incentives, such as a home warranty or credit toward repairs or closing costs that could make your home worth a look.
Make Your Home Easy to Show
Make your home readily available for showings by restricting times as little as possible. Make sure your home is accessible with a lock box and be open to all showings, even at the last minute. Buyers will appreciate your flexibility and willingness to allow them to view your home on their schedule. Yes, this may be inconvenient at times, but the payoff will be well worth your sacrifices when the offer comes in.
Hold open houses frequently to allow for unrepresented buyers and poppers by to easily gain access to your home. Ensure that the host of your open house is well versed in all your home has to offer, so that they can share with guests. Be considerate of your potential buyers. Larger home screaming for a family with kids? Offer (allergy friendly) snacks for hungry kiddos along for the house hunting excursion! Maybe even bring a floor puzzle or some crayons to occupy them while parents tour the home! Hot day? Offer cold water bottles! Home team playing at 1pm? Probably not the best time for your Open House! Really think about your potential buyers, who they are, and what they might have going on…do what you can to maximize the success of your open house and leave a lasting impression.
Make Your Home Feel Like Home
Make your curb appeal inviting by cleaning up your yard and adding a seasonal wreath or door décor. Turn on lights and open windows to allow natural light in. Play calming and inviting instrumental music. Pack up and store clutter to make your home feel spacious and clean. Brighten up your home with some seasonal décor and colored accent pillows and rugs to help buyers envision themselves living here. If you are at all concerned about the interior appearance of your home and its appeal to buyers, consider a staging consult. Staging can make a world of difference in buyers’ perception of your home.
Be Flexible and Work with Potential Buyers
Enter into listing your home with the expectation of negotiating and an idea of where you might be willing to bend. Stay focused on the end goal of selling your home. Remember that potential buyers have their own obstacles, and show willingness to compromise and negotiate. In a slower market, don’t alienate a potential buyer who has expressed interest or even made an offer buy allowing yourself to become offended or defensive. Be prepare for give and take, be willing to meet buyers halfway, and do what you can to reach an agreement, so that you can hopefully reach the closing table without regrets.