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Real Estate Sales Tips for a Buyer's Market

Feb 27, 2008
Selling in a buyer's market is an unpleasant but sometimes necessary component of the complex real estate market. As the market fluctuates wildly, home owners often find themselves having to ride the roller coaster and make tough decisions. However, with a few basic tips, even the most urgent seller can turn a profit on their homes in a unfriendly market.

1) The first step is to set a price for your home that will actually help it sell. This sounds simple, but many home owners, when remembering the emotional and personal investment placed into their home over the years, will set a price far exceeding what the market will allow.

Your first step in setting a price should be researching similar real estate properties in the area. Once you set an ideal price for your home, set contingency dates and prices in your mind in case the house does not sell right away.

To reach the ideal price for a home, sellers should also consider offering incentives to buyers. Incentives allow the homeowner to set a higher price will still offering unique and attractive benefits to the buyer.

Depending on your budget, these incentives can be as complex as paying the closing costs for buyers, all the way to simply offering the buyer a cash allowance to update the carpeting.

One easy and cost effective incentive may be to offer the potential buyers the appliances that are already in your house. The attractiveness of having appliances already installed to fit the room may outweigh the buyer's desire to decorate with their own style. These quick fixes can allow you to sell the home while still receiving your target asking price.

2) Secondly, any experienced real estate agent will tell you that a good looking, well constructed house can sell itself, despite the economic conditions. To help your house achieve its maximum potential, it is important to make sure that the house is in top condition.

Before selling, consult an experienced real estate inspector to help determine any potential problems with the house that may need repairing. Nothing will sour a potential deal faster than the last minute discovery of a major problem.

It's also important to remember that appearance counts as much as the house's actual layout. Make sure the house appears well-maintained and kept up, from the garden to the interior.

Perhaps the most important and easily overlooked aspect of a house's appearance is the interior walls. The right color can create a calming, light, open feeling for the potential buyer, which will in turn create the illusion of a larger space.

3) Finally, and perhaps most importantly, it is essential for every seller to remain patient but flexible. Many inexperienced sellers will either sell at the first offer, or hold out for months while waiting for their ideal asking price.

If you have taken the time to set a reasonable price and have managed to keep a well-maintained home, stay confident in your decisions and wait for the perfect buyer in today's real estate market.
About the Author
Owning a home in beautiful North Carolina can easily be a reality for you. If you're house shopping for Asheville NC real estate, prepare yourself for this unique market. Visit Preferred Real Estate online for an agent experienced and knowledgeable in this area. http://www.preferredrealestatecenter.com
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