How To Sell a Home Quickly

Of course you can give your home away... but is that what you want to do? Selling quickly while protecting your equity is the goal. Here are the steps to get your home sold quickly in a buyer's market.

1. You must price your home to sell. Take out all of the emotion; find a highly trained real estate agent to help you study the market and trends. In any market you must price ahead of the market. In a strong seller's market that is growing, you want to price a little higher than the most recent solds. You know the market is going up, so price just above the most recent sold and get the next highest price for your model in your area.

   In a strong buyer's market with shrinking values you also price ahead of the market. You look at the most recent listings and price just below the nearest comparable home that is available. In other words, in a buyer's market you price based on your competition. In a seller's market you price based on the sold homes.

2. You must use buyer's market tactics to attract buyers. In a strong seller's market, a sign and an MLS listing are enough to get the job done. Any agent with any marketing plan and at any commission will do. In a strong buyer's market, the right agent with the right marketing plan and a commission that will attract agents is vital. You must be listed in at least 25 websites, you must have a strong lead follow-up system, and you must have the right language in all marketing.
3. You must win the beauty contest. We hear a lot about staging these days. Keep it simple, but do it. Go through the home like a buyer would. Put away everything you don't need on a daily basis. Sell, give away or throw out anything you will not be keeping when you make your move. You cannot get away with bad colors or poor decorating. A buyer's market requires that everything look great, not just passable as in a seller's market. In fact, doing all of the minor cosmetics in a seller's market is to get more money; in a buyer's market, it's just to have a better chance to sell.

The bottom line: in a seller's market, you can get away with a lot of things. A poorly skilled agent, a low commission, poor marketing, poor condition and just about any price. In a buyer's market, everything must be lined up perfectly just to have a chance to sell. It takes the right agent, the right condition, the right commission, the right price, and the right idea about getting your home sold. If you want to get top dollar, you are better off selling in a seller's market and buying in a buyer's market. Since that's not always possible, decide that you will do what it takes to sell in this market, and get the job done.