With house prices on both sides of the Atlantic falling or stagnant, those wishing to sell their house are placed in a more difficult situation. Although, it is currently a buyers market there are some tactics that can be used to maximise your selling price.
Choose Right Valuation.
Just because house prices are falling, don’t despair and set a price that is undervalued. At the same time, avoid being greedy and setting a price that is too high. Take several valuations and choose one in the middle. You need to choose a fair price which will encourage others to come and view. If you get enough people viewing the competition may push up the prices.
Compare with Similar Properties.
The housing market can be a highly localised affair. Sometimes, even though national house prices may be falling, certain areas can hold their value. Even, within one large city, house price valuations may be moving in different directions. Therefore, it is important to get an idea of the local market. To get a real feel for the local property market, take time visiting estate agents and even visit other houses on sale. Look at the valuation placed on other houses and judge a competitive price for your own. Looking at other properties will also give you a good idea about what works well for selling houses and what puts a prospective buyer off.
Increase Value of Your Own House as Much As Possible.
There are several things we can do to increase the selling value of the house. Many of these are common sense, but it can be surprising how many homeowners don’t take advantage of them.
- Remove Clutter.
- Keep the House, Garden and surrounding street absolutely spotless.
- Use Good, generous lighting
- Removed Highly personal artefacts that may clash with other people. (E.g. You may love your 10 foot poster of Che Guevara, but, a prospective homebuyer may not share your enthusiasm for revolutionary Communism.)
– When selling think of the buyer not yourself.
- Get an honest opinion from a friend. Sometimes we can become blind to the weaknesses of our own house.
Be Confident When Selling
When meeting prospective buyers, be confident and positive about the house and general housing market.
Sometime the media exaggerate the extent of the housing decline. For example, in the UK, there have been many headlines about falling house prices. But, the annual house price inflation is still positive.
Going for Quick Sale
If you are looking for a relative quick sale, you will have to be prepared to accept a realistic market valuation. If you’re holding onto past valuation, you will not have much interest – there will be plenty elsewhere on sale. However, if you can work out a realistic market value, and take a very confidence pro-active approach to selling, there’s no reason, you can’t get your house sold. There are still many people on the look out for good value. I found this brilliant article over at Property Investment Project, which covers how to sell your property quickly on Rightmove via one of these online estate agents.