How to Sell Your House in
a Buyers Market
The housing market constantly fluctuates between being a vendor’s market to a buyer’s market. Here are some tips to help you sell your home in a buyer’s market.
Stand Out From The Crowd
You need to stand out in the marketplace. Turn any unique features of your property into major selling points. What makes your property different? Use these unique features in your online property descriptions and keywords (eg: Pool, solar panels, large block, DA etc).
Over 80% of buyers now use the internet as their first point of call for researching property. So get your description, photos & keywords just right.
Know The Comp’s
Research other homes for sale in your local area that are similar to yours.
See what they have to offer. Find a list of comparable sales and talk to your agent about their local area knowledge. This will help you get your pricing right.
Having a good agent will help you take the emotion out of pricing your property.
When there is low demand/high supply in the property market you have to be smarter with your marketing and realistic with your price. The last thing you want to do in a buyer’s market is overprice.
Stage Your Home
Most real estate agents agree that staging a home affects a buyer’s perception of the property & help them imagine how they would live in the home they are viewing.
The better your property looks and feels, the more money you are likely to get and the faster it will sell. Hiring professionals will give you the best results.
Harness the power of social media
Being sure to always tag the location, the neighbourhood, and a combination of other keywords that may attract potential buyers.
Be flexible with negotiations and how your home is sold. Auctions can reduce the days on market and create a competitive environment, which often brings better prices for properties.
Also be open to private sales and accepting expressions of interest prior to the auction.
Be flexible with your settlement terms if possible. This will attract more potential buyers and make your property easier to buy.
Keep negotiating. If you get offers that don’t meet your requirements, keep the lines of communication and negotiation open. These offers may well end up negotiating up to meet you with an offer that can work for you.
It is a good idea to sell before you buy.
This way you will reduce your stress, and allow yourself plenty of time to sell your house at an acceptable price. See our seperate article with more details to help when you are selling and buying at the same time.