This is a difficult time for many industries, and real estate is no exception. However, with home prices and mortgage rates lowering, it is encouraging for home buyers. So if you’ve put your house on the market during this time, but it’s not selling, try these four things to increase your chances of getting your home sold.
- Make sure you haven’t overpriced your home.
Compare your listing price with home values in your area. Are you in a similar ballpark? If not, you may need to rethink your price. If your location isn’t the most desirable, you may need to lower the listing price more. Are you far out in the country, away from the conveniences of town? Are you very close to town, or right next to a commercial property or apartment complex? With so many home prices lowering, you’ll have more competition right now, and buyers can be more selective. So your asking price has to be on target.
- Fix everything.
Looks aren’t everything, but in real estate, they are! When you first meet with your realtor, they will assess the appearance and curb appeal of your home. They’ll point out noticeable cracks, evidence of water damage, anything that needs to be addressed. Sometimes a house will be perfect, but there might be some rot on the garage door that the homeowners haven’t noticed. That’s when it’s good to have an outsider take a fresh look—to catch things that you haven’t. Do all light fixtures work properly? Expect buyers to test things like lights and faucets. Double-check that there isn’t anything negative a buyer could find.
- Listen to feedback.
When you have open houses, pay attention to any comments that keep coming up. If your realtor is at the open house without you, they should communicate to you anything they hear.
“If only the kitchen was bigger.” You can’t knock out walls at this stage, but before open houses, remove the coffee pot or anything that takes up space on the countertops. You might need to take out that portable butcher block island if it makes the kitchen appear smaller.
“There’s not enough storage.” This can be an easy fix. In a bedroom, you can add an armoire for extra storage. If there isn’t adequate pantry space in the kitchen, purchase a free-standing cabinet to show buyers that there’s room for everything. Paying attention to feedback and addressing it will help you sell your home faster.
- Take it off the market.
This is a last resort, of course, but it may be necessary. First, are you trying to sell during a time when the competition is offering more for the money? Unless you have to move for an urgent reason—like accepting a job out of state—you might have some time to take a step back and reassess things. For example, if you have the finances, take your house off the market and complete that renovation project you’ve been thinking about—the one that adds a bathroom, enlarges the master bedroom, or opens up the floor plan. All of these renovations can add significant value to your home, and you’ll be able to get a better price when you put it back on the market.
MB Homes New England has been proudly offering professional Real Estate services and investment management property services for home buyers, sellers, and investors in Webster, MA, Dudley, MA, Douglas, MA, Auburn, MA, Oxford, MA, Thompson, CT, Pomfret, CT, Woodstock, CT, and Putnam, CT since 2010.
If you have any real estate related questions, or would like to further explore our vast array of services, please contact us today.