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Flexibility is the Key in Selling Homes Today


When it comes to selling homes, buyers are still around, but sellers need to be aware of the fact that home buyers are looking for more value for their money than they once were. The simple fact that there are some many homes on the market for buyers to choose from has resulted in many home buyers becoming extremely picky. As a result, if a home seller wants to move their home in this market, they must learn to be flexible when it comes to matters of money and time.

The truth of the matter is that home buyers who are willing to buy and who are qualified to actually obtain financing are hard to come by today and that means that when you do come across one you must take care not to scare them off.

Toward that end home sellers must make sure that their homes are priced appropriately. One of the biggest mistakes that a home seller can make is pricing their home according to what they think they need to clear on it. This might have been possible a few years ago, but not in today's market. Although no one wants to take a loss on a house, many home sellers are realizing that they need to be more objective when pricing their properties. A qualified home buyer is only interested in finding the best deal possible. If that means they can go two blocks over and buy virtually the same hose and save $10,000 or more in the process, they are going to do it.

Before actually pricing property, it is imperative for home sellers and their agents to review the most up to date sales and listing information possible on the local market. Not only should homes that are currently for sale in the neighborhood be reviewed, but also homes that have recently sold as well. This will help to keep sellers grounded in terms of what they can realistically expect to make when they sell their home. This may mean that a home seller needs to take a loss but in some circumstances that might be better than facing foreclosure.

The days of being able to sell a home for more than its market value are gone. At the maximum, a home should not be listed for more than its current value. Even at that point, sellers should be realistic and expect that their home may sell for less than that amount. It's not a pretty picture, but it is a realistic one.

Acting promptly is another key to success in this market. A few years ago home sellers had the luxury of receiving multiple offers and being able to take a few days to mull them over. That's not the case today. If you are fortunate enough to get a bid on your property, respond promptly, in no more than twenty-four hours. If you wait longer than that you may just find that the home buyer has withdrawn their offer and moved on to greener pastures.

Along those same lines, think long and hard before you make a counteroffer rather than accepting the offer that has been made on your property. Offers are hard to come by today and you must think about whether it is worth the risk of possibly losing that offer to try to get another few thousand. The basic rule here: a bird in one hand is better than two in the bush.

You also need to make sure that you are accommodating when it comes to buyers. Be sure that your home is ready to be seen at a moment's notice. Do not place restrictions on when your home can be seen. Ask your agent about putting a lock box on the property so that it is always available to agents for showing. Make sure you are prepared for an early closing date when you do get an offer on your home.

Finally, once you do have an offer, avoid the temptation to quibble over matters that are really small. If the home buyer really wants you to leave the stove, ask yourself whether it is worth it to fight over it if it means you might lose the contract. This is, unfortunately, a common mistake that many home sellers come to regret after the fact.

Ultimately, you need to remember that in this market home buyers are hard to come by and keep. If you are fortunate enough to find one, try to be flexible enough to make sure that your deal closes smoothly. (You may also want to read Selling your home? Homework is the key).


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