Selling In A Buyers Market
One of the houses I manage came up for sale recently. Austin real estate sales are faring better than most of the country, but it's a buyers market even here. The Avery Ranch home sold in 40 days. There were 27 houses on the market in Avery Ranch about the same time. 20 of them are still on the market (60 days later). Of the 7 that sold, only 2 sold for a higher price per square foot. I thought this would be a good time to review why the 7 sold and the others didn't.
I believe the top 3 reasons, are proper pricing, curb appeal and general attention to detail.
- Proper Pricing
This means making a realistic assessment of where you fit, comparing to other houses that are similar and making adjustments for differences. There is a little bit of art to this, but mostly it's a matter of putting some time and thought into it.
- Increase Curb Appeal & Increase Prospective Renters Walking Thru The Door
Prospects simply must have a good feeling before they ever get out of the car. How good it looks in front plays into the pricing as well. The front door must look new, the flower beds must have fresh mulch and some flowers. Everything must be neat and trimmed, and the lawn must look healthy.
- Details Are Everything
Interior comfort, climate control, strategic lighting, and some design touches like towels in the bath, fresh smell, flowers and cleanliness so that first impression outside continues to the inside.
Selling In A Buyers Market Is All About Increasing Your Odds
Consider this: What are the odds that your property is going to shine among other properties available? What are the odds that your ads will be inviting enough to get your target buyers on the property? What are the odds that the property makes an emotional connection with the buyer that gets them to take action? Selling in a buyers market at your targeted price point is all about putting the odds in your favor. This is what we do best, this way, you can continue doing what you do best.
While making the recommended changes certainly isn't going to guarantee a sale, surely it will swing the odds in your favor.