Selling your house can be a very stressful experience so you want the process to go as quickly and smoothly as possible. That’s often difficult to achieve even when the house market is buoyant but, when it’s slow, it can seem almost impossible. However, with the right property and the right approach, it’s sometimes surprising what you can do.
Whilst a sellers’ market can make selling relatively easy and ensure a good price is paid, a buyers’ market has the opposite effect and means you have a lot of competition but not many people looking for a new home. In order to achieve the required result, therefore, you need to follow a few basic rules.
1. Competitive Pricing
A slow market will not, unfortunately, allow the same high level of pricing as a sellers’ market. However, if you’re moving to somewhere else, the same will apply for the one you buy so the two may largely cancel each other out.
You do, however, need to be realistic in your pricing and not quote a figure that will put off prospective buyers. The aim is to get as many people interested as possible and a competitive price will achieve this. If you don’t want to lower your price, the only alternative might be to wait until the market improves.
2. Plan and Prepare
First impressions count so you want your house to look as good as possible from the outside and the inside. Get the opinions of trusted friends, family and neighbours because they may suggest something obvious that you may not notice due to familiarity.
Spruce up the property with a thorough clean, declutter and apply a fresh coat of paint. You don’t have to spend money on major refurbishments since it may be wasted on buyers with different tastes in décor. However, in some circumstances it may be appropriate to do renovations so we recommend taking on some advice from your agent.
3. Be Flexible
When the market is slow, buyers will take advantage by putting in offers well below the asking price. Don’t dismiss them out of hand but instead make a counter-offer. If the buyer is really keen, you may be able to negotiate a price you’re both happy with.
Flexibility should also extend to allowing visits when requested. So make sure your home is always in a condition to receive unexpected visits and don’t turn away a potential buyer.
4. Stand Out
In a crowded market, you want your property to stand out from the rest. Make sure you emphasise any unique features, ensure advertising is attractive and in the right places, use social media and keep your neighbours involved since they can help the sale.
5. Get the Right Agent
A good and knowledgeable estate agent will ensure your house is sold quickly and for the best price. You can assess suitable agents by asking several to conduct property appraisals and then choose one based on their approach, recommendations and questions you ask.
Agents must have knowledge and experience of the local market because they will know what properties sell best at what prices, will have appropriate marketing strategies and are most likely to achieve the best result. Using the LocalAgentFinder comparison tool, you can easily find and compare the best agents in your area and choose the one that’s most suitable for you.