Sunday, July 17, 2011

Sell Your House - Advice On Getting A Quick Sale

At this moment in time the housing market is certainly favoring buyers instead of sellers. Reduced demand in the market has meant a reduction in the number of house sales and, although there has not been an increase in the number of property price reductions, there has been a decrease in the number of house price increases. As it is currently a buyers market, that means that sellers have to put a lot more effort in to sell their property; though this doesn’t mean just reducing the asking price. Although you may think that reducing the asking price of your property will help entice buyers, it is not the be-all and end-all of marketing property. There are always other options available to you that you should take advantage of if you are having trouble selling your property; some of those options are detailed below.

As with any product, you need to make your property attractive to potential buyers. What this means is that you have to make it look as much of a blank canvas to them as possible, so that the viewers can attempt to see themselves living in that space and adapting it to their own tastes, which might be far removed from yours. Any brightly painted walls should be painted over with more neutral colors and with regards to furniture, you must make the space as minimalist as possible. Also, it helps to make the outside as attractive as the inside, so make sure gardens and paths are not cluttered, and possibly plant a few flowers to help brighten the area. When choosing an estate agent to market your property you need to be quite selective. Make sure you find an agent that is not only knowledgeable, experienced and professional, but also friendly. Having an agent that you get along with will help you in the long run as you need to be in constant contact with them every step of the way. You must ensure that they are doing all that they can to market your property including making sure that all viewers of the property are mortgage pre-qualified.

The last thing you need to consider is not only competitive pricing, but also, proving your pricing judgment. Competitive pricing means researching property values in the local area; looking at recent sales of property similar to yours then asking for advice from a number of estate agents and other professionals in order to determine the market value of your property. Once you have your market value, you can then reduce that by 1% only, in order to gain increased interest in your property. Proving your market value assumptions means giving the estate agent access to receipts for building improvements and general maintenance on the property, providing information on the ratings of local public services and educational institutes and also making available data on local property prices and recent sales, all so that if the potential buyer questions your pricing ethics, your agent can then explain the details on which the market value has been established.
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