Effective Strategy on How to Sell a Phoenix House Fast in a Slow Market
In the last decade, every homeowner dreams of being able to sell their home in a sellers’ market. But, since the mortgage crisis and economic crash of 2008, the real estate market has been rebounding at astonishing rates, and this resulted in a strong sellers’ market that is just starting to slow down.
As the market begins to cool, some homeowners are thinking about selling and competing with other listings to draw attention to their property.
In a buyers’ market, when the market becomes flooded with potential buyers, and there are not enough listings, this is your chance of making a profit.
However, you may list your home, and there’s a possibility that it will sit on the market for months before you get a fair offer. It’s not impossible to sell at a profit in a buyers’ market but it does make the situation a bit more challenging.
So, let’s take a closer look at a few tips on How to sell a Phoenix house fast in a slow market.
1. Competitive Pricing
Before listing your home on the market, take time to consider your pricing. Overpriced listings may stay on the market much longer than homes with lower price tags.
Tips to get competitive pricing:
- Take a look at your local market
- Find out how comparable properties in your neighborhood and the general area are priced
- It can be helpful to have an independent appraisal company give you the true value of your home
If you price your home too low, savvy buyers may assume that there is something wrong with the property and abstain from making an offer.
2. Repairs and Renovations
When you list your home on the market, you want it to be in the best condition possible.
- You will have to spend some money
- Take the time to make all the small repairs.
To attract more buyers, you may want to consider doing a renovation that has a high return on the investment, like a bathroom or kitchen renovation.
3. Cleaning and Staging
Potential buyers want to tour a home where they can imagine themselves living. This means that your home should look more like a showroom than a lived-in space.
To prepare your home for viewing,
- Hire a professional cleaning service
- Hire a staging expert.
Having your home look its best to help you sell it faster.
4. Real Estate Agent
While it’s entirely possible to sell your home privately, it can be a real challenge. There are many logistics that are involved in selling a home, and inexperienced home sellers can quickly become overwhelmed. If you want to sell your home quickly and still get a fair price, you should be working with an experienced real estate agent. Your professional agent can give you the expert advice and guidance that you need to be successful.
5. Enhance Curb Appeal
First impressions matter. The exterior of your home is the first thing potential buyers see, so make sure it looks inviting. Simple landscaping, a fresh coat of paint on the front door, and clean windows can make a big difference.
6. Flexible Showings
Be as accommodating as possible with showings. The more flexible you are with viewing times; the more potential buyers will be able to see your home. This can increase your chances of receiving offers.
7. Professional Photography
High-quality photos are essential in today’s digital age. Most buyers start their home search online, and great photos can make your listing stand out. Consider hiring a professional photographer to capture your home in the best light.
8. Highlight Unique Features
Every home has something special about it. Whether it’s a beautiful backyard, a cozy fireplace, or a newly renovated kitchen, make sure to highlight these features in your listing and during showings.
9. Offer Incentives
In a slow market, offering incentives can make your property more attractive. Consider offering to cover closing costs, providing a home warranty, or including some furniture or appliances in the sale.
10. Stay Positive and Patient
Selling a home in a slow market can be stressful, but it’s important to stay positive and patient. Keep your home in top condition, continue to market it effectively, and be open to feedback from potential buyers and your real estate agent.
If you are looking to sell your home in a slow market, follow these tips to help you sell quickly and move on towards your future. But, if you don’t want all the hassles and just want to sell quickly, as-is, and close on your timeframe, then call Oak Street Properties at 480-637-5500 for this great, no-hassle option!