Sell Your House Fast in a Buyer’s Market: Quick Flips Make Great First Impressions
The first “trick” is for the seller to be totally in tune with reality. Market direction changed two years ago. Gone are the days of a Seller setting a price and having multiple Buyers bid on the property within a two-three day period. Sale prices are now most often equivalent to the local city tax assessment – sometimes even less than the latest assessment. Sellers also need to realize that regardless of what price they list a property for, a qualified Buyer will likely offer a significant amount less than the list price – regardless of the location of the property or the financial solidity of the buyer. Know your bottom line in advance.
Curb appeal = first impression. If your property doesn’t have curb appeal, good luck getting a serious buyer to the front door. While it’s true that curb appeal alone won’t usually bring in an offer, it is enough to either encourage or dissuade a Buyer from taking the second step – actually walking through the front entrance. Go stand in the street. Does your property stand out from others on the block in a positive way? Is there color, besides green? Do your plants look alive, or are they drying up from the heat? Does your house look like it’s in good condition? Curb appeal is a lot like a dustjacket on a book. There is a lot to be said for judging a house by its appearance.
So, your curb appeal is great. Now, set foot inside the front door. Do you smell anything? Be objective now. Any pet odor? Any musty smell? Any lingering hint of last night’s dinner? If so, you seriously need a good air freshener in full-time use. What do you see? Is the foyer cluttered? Can you see clutter in any other room from where you’re standing? If so, get rid of the clutter, but don’t hide it in a closet. Sometimes it just makes sense to turn loose of things. Throw it out, donate it, or rent a storage unit. You’re selling your house. Buyers don’t want to see all of your possessions.
Actually, the clutter trick works for the rest of the house, as well. Remember, you want buyers to see the house itself. You also want them to envision their belongings, their lifestyle in the house.
Now that you’ve removed clutter, go back through the house again and remove all personal photos. Take down the family portrait over the mantle. Remove the children’s photos from the nightstand. Mrs. buyer will try to picture her photos, with her family and friends, in each room of the house. If she can’t do that because your photos are in key locations, you won’t get a good offer. Sounds kind of strange, but it really is true.
When you bought your house, who made the decision to buy that particular house? Ninety-five percent of the time, the female Buyer made the decision. She fell in love with the house and absolutely had to have it. Women buy houses with their heart; men buy houses with their heads. Play to the female, with color cleanliness, and aroma, and you’ll soon have a viable offer.
Cleanliness is a huge key to success in this market. Most buyers want to be able to move in without doing anything more than calling a moving company. They want to feel they are buying a “new” house, even if the house is 100 years old. This attitude goes beyond the idea of “it’s new to me”. With today’s new construction pricing, more and more buyers are settling for a resale property. As unrealistic as it may sound, “new” = “clean”. Don’t hesitate to use the Spic ‘n’ Span and the Mr. Clean eraser. Buyers are willing to spend a little more for clean.
Now that the property, inside and out, is in marketable condition, find a real estate agent who will help you realistically set a list price. Be wary of anyone who fully agrees with your suggested price – unless you have the market research to support it. Actually, market research is the agent’s job. Recent sales are key, especially when it comes time for an appraisal. Just because your neighbor has what he thinks is a “great” price, don’t buy into that. His house may sit on the market for six to twelve months. You don’t need to give your house away, but you do need to be realistic with where the market is now. The most qualified real estate agent will have facts and figures. The best agent may be the one who walks away from setting up the listing if he/she doesn’t agree with your idea of the best price.
In most instances in a buyer’s market, pricing is the #1 important factor in determining how long your house will be available. Examine your bottom line. Understand your goal. Communicate both to your agent. It really does take a team effort to close a sale now. Do your part from the start. Success will follow. Good luck.
