4 Strategies to sell your Houston Home this month

Posted by Erion Shehaj in Houston Real Estate, TipTuesday on Tuesday, July 7, 2009 | no responses

When the market shifts, like it did in late 2007, it is easy to get caught off guard as your decisions still take into account a market with ever increasing home values and an abundance of buyers. These decisions inevitably lead to an overpriced home that will stay unsold for months causing frustration and confusion. Let me be blunt with you: It does not matter what the home could have or should have sold for in 2006. Those rules no longer apply.

But there are 4 Strategies you can use today to get your Houston Home sold under the current market conditions:

1. Price the home RIGHT

Gone are the days when you could “test the water” with an overpriced home for a few weeks with the intention of lowering it to more earthly levels later. That’s a sure recipe for failure these days. Hire a high energy real estate agent and ask to see comparable sales in the same subdivision within the last six months. Once a current market value is established, price your home just a shade under it. This will make your home irresistible to buyers that are looking for a deal. Hint: In this market, ALL buyers are looking for a deal.

2. Put on a show (Declutter and Stage)

When there’s an oversupply of listings on the market, all homes tend to look alike to Buyers after awhile. Antidote? Make your home memorable by putting on a show. Think of it this way: If you were buying a car from a dealership, do you expect that car to be spotless when you test drive it, or is it okay if it is stuffed with all kinds of stuff that doesn’t belong there. Get enough boxes from UHAUL and thoroughly declutter your home so Buyers can picture their life inside your home. Then once you’ve gone minimalistic, stage it. Give each room a name/purpose and only display furniture that fits that purpose.

3. Let the world know

The primary job of a high octane real estate agent is to market your property everywhere, nonstop. That doesn’t mean they have to set up a booth in front of the home and sit there till it sells. But they do have to leverage technology to spread the word about the property in channels that will drive Buyers to it. And nothing is off limits: Blog about the property, post it on Facebook and Twitter, syndicate it to Zillow Trulia and all other aggregators, single property website, virtual tours, Craigslist and other classified ads, featured placement on agent’s website, complete MLS listing with the maximum amount of photos and more.

4. Negotiate Accordingly

Listen to every offer. You don’t have to take it but you should dignify it with an answer. Keep in mind that Buyers have been told by the national media that you are giving your home away so they’re making offers based on that assumption. But if the home is fairly priced for the market and a show as been put on to make them fall in love with it they will start dealing in earthly numbers before you know it. Also, concessions are a requirement in this market. Seller paid closing costs, home warranty or throwing in appliances are all things Buyers are asking for and getting these days. The question is, will they get them from you or someone else? Always consider the net offer (how much are you netting after all concessions) and keep emotions at bay. They’re deal killers.