Strategies For Selling Real Estate In A Tough Market

Not every property owner can wait out a down market before selling. Sometimes it’s necessary to relocate quickly, and sometimes there’s a better investment on the horizon requiring all assets to be liquidated – there are a wide variety of possible reasons a sale might have to happen sooner than later. When selling in a downmarket becomes necessary, real estate owners can employ a variety of strategies to get the best return for their investment.

The first thing owners should consider no matter when they’re selling is why buyers might want their property. Investment potential isn’t the only reason buyers enter the market, and sellers who can appeal to those other reasons are more likely to close the deal. Considerations like quality of life, good location, and lifestyle stability are important for buyers weighing the potential of each property.

Another simple, yet effective downmarket selling strategy is making the property look good. Sellers who invest a few hundred dollars on this task and simplify their properties’ appearance can increase the sale value by thousands of dollars.

Sellers in a tough market also need to make sure their property is advertised online. With more than 80 per cent of real estate buyers checking the Internet first, this step exposes the majority of the market to a property, and helps encourage competing offers. Most sellers have made sure their property is online, but attractive photos and a well-written description can really make a listing stand out – the help of a real estate professional can be valuable here.

Competitive pricing is the most important part of any property sale, especially in a tough market. When homes in the area aren’t selling well, the best strategy is often to compare recent sales on similar properties in the area, and try to sell a few thousand dollars lower. That pricing method helps protect against further downward market shifts, and may encourage competing offers if the market picks up.

Sellers can further sweeten the deal by offering incentives like closing bonuses for Realtors, goods or services for buyers, and help with financing if the buyer can’t access a large enough mortgage.

Strategies For Selling Real Estate In A Tough Market