Maximizing Sales in a “Buyers Market”

The phrase “it’s a buyers’ market” haunts those who find themselves listing a home for sale. Although it is a buyers’ market, there are a few things that sellers can do to boost their chances of maximizing their sale. Here are just a few tips for listing your home in a buyers’ market.

A Picture is Worth a Thousand Words
Make sure your house listing is accompanied by photos.  Providing images helps to generate interest, allowing the buyer to visualize the space. In the wired age, shoppers browse images before visiting, and listings with images are far more likely to get traffic than others.  To optimize you picture power, ‘stage’ rooms by removing clutter and personal items.  Take pictures during the brightest part of the day or bring in extra lighting.  Choose angles that show the space to the best advantage, particularly ones that display selling points such as fireplaces or built-in shelving.  Some homeowners might consider hiring a professional real estate photographer to make the most of their home’s visual impact.

Tell me True
While you want your listing to make people want to see the property, avoid extreme or overly-flowery descriptions. If there is a nice view from the master bedroom balcony, state it simply. Although a more boastful review may attract people to the listing, exaggeration or matters of personal opinion may cause buyers to be annoyed or disappointed, and that will not sell your house.  Some expanded descriptions can be useful, but consider your target audience’s needs and preferences to guide word selection, and use them sparingly to give them more impact.

Don’t Sell Yourself Short
Pricing your house right is crucial to selling in a buyers’ market, but be mindful of how low is too low. Don’t devalue the property with a listing price that is too extreme. Although listing your home for a rock bottom price is one strategy to generate a lot of interest in the listing, some qualified buyers are put off by the idea of the bidding war. Ultra-low pricing can bring out many unqualified bargain hunters that can tie up a property and keep it from selling. Proper appraising can help sellers find the correct listing range for their property.

Read Between the Lines
Wording is very important when listing your home. Watch out for clichéd phrases that are commonly used to mask negative aspects. The phrase “as is” or “great potential” on a listing can make buyers fear the worst possible conditions. If the property needs works that you are not willing to do, disclosing the conditions that a buyer may use as negotiating points might be a better. Using wording like “needs new flooring” or “kitchen needs updating” might be a more effective means of drawing people to the listing.  Likewise, try to accentuate the positive aspects without falling into word rut.  If every other listing on the block is “quaint,” finding a different description can help your house break free of the pack.

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About David GoldsteinDavid Goldstein is an Owner and Founding Partner of Express Schools, LLC. which operates online education providers Real Estate Express, Insurance License Express and License Tutor. Follow him on Twitter.

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