How to Get Homes Sold in this Buyer’s Market

You know it’s a buyer’s market.  But you really need to sell your home now.  Here are six tips to get homes sold even in today’s real estate market:

1. Price your home competitively from the start.  Ask your agent to find out what similar homes in your neighborhood sold for in the last six months.  Don’t bother looking at pricing prior to that.  And don’t base your decision on listing prices.  A lot of homeowners price their homes high to start with but end up drastically reducing their prices in order to get them sold.
2. Offer incentives.  There are a lot of similar properties on the market, so in addition to competitively pricing your home, you should consider including incentives.  You could offer a home warranty, to pay part of the closing costs or to leave the big screen television that fits perfectly over your fireplace.
3. Pick the right agent. Look for a local agent who is currently listing, marketing, and selling in today’s marketplace.  Ask what price they recommend and how they’ll market your property.
4. Get your home in tip-top shape.  You cannot afford to let anything slip through the cracks… literally.  If you have cracks in your driveway, walls or foundation, get them fixed before you put your home up for sale.  Make your home shine. If need be, bring in a professional stager.
5. Be flexible with regard to the time your home can be shown.  It is hard to sell a house that can’t be shown. Many buyers can’t look at homes until after work or on weekends. Accommodate the buyer’s requests as much as possible without sacrificing your sanity. 
6. Negotiate.  Buyers can and will be demanding in today’s real estate market.  Prepare yourself for some tough negotiating.  Make sure you’re working with an agent who excels at negotiating, and then let her/him do the job.

Liz Boucher is the Branch Manager of the Coldwell Banker Larchmont office which specializes in both residential and commercial real estate. Liz has been in real estate sales since 1998. She is an associate broker and has been managing the Coldwell Banker office since 2006. You can contact her at 914-834-7100 or at  liz.boucher@cbmoves.com