Monday, February 08, 2010
Getting from "for sale" to "sold" in a down market
Selling your home in this market isn't impossible. By focusing on the three Ps (pricing, preparation, and publicity) you can flip that "for sale" sign to "sold" more quickly.
Pricing: The right price depends on your local market--your home's price should match those of recently sold (in the past 6 months), comparable homes in your area. Depending on whether you are motivated to sell quickly or are willing to wait it out will help you determine where in the price range you want to initially list the home.
Preparation: Help buyers see themselves, and their stuff, in your house by decluttering and removing your collections, photos, and excess unnecessary items. Consider renting an offsite storage unit to free up storage space in the house. Arrange furniture (even removing up to half of it) so people can move through easily. Deep clean the house, especially the bathroom and kitchen. Detail the landscape by mowing, edging, and planting flowers to add curb-appeal.
Publicity: Yard signs and flyers, online listings, ads, and open houses are conventional tools to get the word out. An email to your contacts with description, photos, and contact information which can easily be forwarded. Have a deck visible from a well-traveled street? Consider a large format for sale sign visible from a distance. Think outside the box and maximize all potential communication outlets.
Information in this article was derived from Home & Family Finance.