WHAT DOES IT TAKE TO CLOSE THE DEAL IN A BUYER’S MARKET?

What does it take to sell a home in a buyers’ market – a fresh coat of paint or a kitchen overhaul? Lowering your asking price or offering incentives? From cosmetic to strategic, smart sellers can take advantage of a few simple tips to get the most out of their properties. Here are eight strategies from the professionals at Coldwell Banker Residential Brokerage to securing a “sold” sign:

1. Boost your curb appeal. Though they may be obvious, cosmetic upgrades like painting and planting can truly go a long way to forming a fantastic first impression of your home. And be sure to clean, clean, clean!

2. Make big fixes where you can. If your budget allows, invest in bigger improvements. Focus on “make or break” rooms like bathrooms and kitchens, because nothing says “uninviting” like an unattractive cooking space. If your budget is limited think about smaller home improvements in these areas which could help close the deal.

3. Let the Internet work for you. 87 percent of homebuyers begin their search on the Internet. Ensure that your property is featured online with as many as 6 or more photos on as many websites as possible. Utilize innovative online marketing services like streaming home videos.

4. Transparency is golden. Getting a preliminary professional home inspection and sharing it with potential buyers may help them understand your home’s condition and reinforce your position as a trustworthy and responsible seller. You should also be clear about recent improvements you have made, and provide estimates on other optional upgrades – especially any for which you would be willing to foot the bill.

5. Go the extra mile. You can have your home pre-inspected and follow up by making necessary repairs. Allow potential buyers to see the report and receipts for the work. Offering a home warranty could also sway a buyer to purchase your home over another. Buying down mortgage rates or pay points on behalf of the buyer is another suggestion.

6. Remove the Clutter: Virtually all home buyers are on the lookout for one thing – a clean, spacious home. A dirty home will likely mean a lower selling price. The two most important rooms in a buyer’s mind are the kitchen and bathrooms. Make certain these rooms are sparkling clean and in good condition. In addition, avoid overflowing closets or displaying too many family collectibles. Consider storing some furniture to open space in rooms. Buyers need to imagine themselves living in the home. By neatly displaying and making all available space accessible, the seller affords the buyer a suitable opportunity to look towards the future.

7. Eliminate Odors: Make sure to take out the trash and empty ashtrays. Also be certain to bathe pets and clean drapes. It is important to ensure that the home smells nicely. Fresh flowers and room fresheners also work wonders in creating a pleasant environment.

8. Be realistic. Selling in a buyer’s market takes skill and a strong marketing strategy. In most markets, increased inventory has given buyers the opportunity to be selective in the home they want and the price they are willing to pay. Properly priced homes are selling and your sales associate will work with you to determine what that price should be. Also understand that it normally takes a bit longer to sell a home in buyer’s market than in a seller’s market.