Tips to Sell Your Home Faster in a Buyer's Market

When the market slows down, and Buyers have more to choose from, you need to be very strategic about where your listing ends up in the marketplace. The following tips will help ensure you understand how to price your property where it will actually get sold, and be a Buyers obvious choice.

Get Clear on Price

You need to be realistic about what fair market value is for your property. Have your Realtor run a CMA on your house, and make sure they also run an active Buyer analysis. This will help you understand where the active Buyers are in the market right now, and you will be able to use this information to ensure your home is positioned and priced to actually sell.

Understanding the current average DOM (days on market) in your area, and pricing against active competition will also help make your property the obvious choice. You can use my Buyer Desirability Chart to assist you with this comparison.

Clean and Declutter

Dirt and clutter eat your equity!

Deep cleaning your home is essential, I can't emphasize this enough. You will also need to maintain this cleaning for showings, and especially before your home is photographed for the MLS. Don't forget to touch up paint and baseboards, Buyers always notice if these are clean or not, its a big indicator of whether or not a home has been properly maintained.

When decluttering, aim to remove 40% of all decor, extra furniture, table nick knacks and wall art. Make sure you home not only looks great, but smells clean and fresh also, you want a Buyer to associate your home with a nice scent.

Boost Curb Appeal

The first thing buyers see when they arrive at your home is its exterior, and you only get one chance to make a first impression. Simple tasks like mowing the lawn, planting flowers, and painting the front door can make a big difference. Create an inviting entrance that will entice buyers to step inside and explore further by placing beautiful planters near your entryway, and make sure those cobwebs are gone, and your exterior lights have been cleaned.

Pre-Listing Inspection

This will give you an opportunity to identify and address any potential issues with the property that might turn off or scare a first time home Buyer, before they become an issue. You are also going to gain valuable insight about the true condition of your property so it can be priced accurately, thereby maintaining the leverage in negotiations down the road. A Pre-listing Inspection is both a great way to exhibit transparency and build trust between a Seller and a Buyer. By revealing the properties condition up front, you display honesty and can significantly boost Buyer confidence.

Stage to Sell

I want to emphasize that staging is NOT decorating. we are minimizing clutter to maximize space and optimize a room's flow. Keep colours neutral, and depersonalize as much as possible. Family photos and certificates need to come down so Buyers can envision their family enjoying the house. You want to focus on the living room, master bedroom, and washrooms. Storage is VERY important to Buyers, so reduce items in closets to give the impression of spaciousness. Clear those kitchen counters off and clean those windows! You also want to remove rugs, especially bath mats ( just yuck) and please, whatever you do, ensure toilet lids are DOWN!!!

Be Flexible With Showings

The first couple of weeks your home is on the market are CRUCIAL to the listing. The more flexible you are with showings, the more opportunities you create with interested Buyers. Being flexible and accommodating a Buyers schedule will positively demonstrate that you are a motivated Seller, who is cooperative and committed to facilitating a smooth transaction.

Be Flexible With Terms

Assuming you have priced your home at fair market value, you can adjust the terms of the sale, instead of the price, to accommodate an interested Buyer. Sometimes helping with closing costs, or offering an extended closing date can go a long way, as opposed to negotiating a lower price.

Your First Offer is Your Best Offer...

Why is this usually the case? Well I want you to understand first that showing activity will usually peak during the first 1-3 weeks a home is on the market. Afterwards, showings drop off significantly and your home becomes less valuable every day it sits unsold. This is why Sellers who want to refuse the first offers in an attempt to hold out for better offers, are generally making a huge mistake. The Buyer who makes the first offer on your property is what we call a "Buyer in waiting" and has jumped on your property because they have likely been searching for their dream home for a while now, and are not going to miss out on something they really want. Remember, you can always negotiate!

Navigating a slower market can be tough, but partnering with an educated Real Estate Agent who can provide valuable insight and support will help you achieve a successful sale. By following these steps, you can ensure your home is presented in the best possible light, and overcome a challenging market! Feel free to reach out if you require assistance in the sale of your property!