Home Languishing on the Market? 5 Tips to Up the Ante and Gain a Competitive Edge
By Keith Loria
For home sellers across the board, there’s nothing more frustrating than seeing your house sit on the market day after day, week after week or even month after month. If your home has been languishing on the market, it may be time to up the ante. Instead of simply lowering your asking price, the following tips may just give your home the edge it needs to stand above the competition.
1. Try holding an open house on a weeknight. While house hunters typically set aside time on the weekend to house hunt, there will always be people who can’t make those Saturday and Sunday appointments. Holding an open house on a weeknight is a great way to attract this crowd. With less competition for weeknight open houses, prospective buyers will be able to spend more time imagining themselves living in your home.
2. Paint and depersonalize. If your house is full of rooms that feature bold colors and lots of “interesting” furniture, it may be time to go more neutral and basic. Hire a professional stager to furnish the home so that it appeals to a wider range of buyers. By changing up the house a little and posting new pictures online, you’ll bring in more potential buyers.
3. View your home through the eyes of a buyer. Take your iPhone—or any other video app you may have—and record yourself walking through each room of your house, taking on the role of a potential buyer. Make sure to go in every room, check out every closet and pay attention to appliances and fixtures. After, watch the tape and take an objective approach to what looks good and what doesn’t. Often times we are blinded by our love for our own home and can’t see the forest for the trees. This simple exercise is an easy way to put yourself in a potential buyer’s shoes.
4. Upgrade the kitchen or bathroom. You might not want to put any more money into a house that you hope to be out of in a month’s time, but sometimes, spending money in one of these areas will pay off in the long run. Make these rooms memorable and people will want to buy. Even if you don’t get your full investment back, if it helps you sell your home, it’s a win.
5. Review comparables. Sit down with your agent review the details regarding homes that have sold within the last three months and see if anything has changed. What may have been a fair price when you put your house up for sale, may seem overvalued now. If your price is out of line with the neighborhood comps, be ready to adjust.
For more tips on gaining a competitive edge in today’s market, contact our office today.
Reprinted with permission from RISMedia. ©2014. All rights reserved.