It's no secret that some areas of our country are in financial turmoil.
The constant media frenzy has understandably caused people to have doubts about the real estate market.
However, we have been extremely lucky in the Houston area and particularly in Katy, in comparison to many other areas in the country.
Despite the fact that our market remains strong, many Houston area buyers have begun to have become hesitant to buy.
This is actually a fantastic time to buy and is, in a sense, a buyer's market.
Buyers now realize that they have more options than ever, and with the influx of new construction, they have come to expect a good bang for their buck.
Sellers need to be aware of this mindset and should make adjustments in order to appeal to more buyers.
Buyers are looking for a GREAT DEAL.
Value, or the perception of value definitely helps sell a house.
Think about the last time you went shopping.
Did you find something nice that was on sale? Think about how great you feel after you've scored a great deal while out shopping.
Buyers want the same thing when it comes to purchasing a home.
They want all the upgrades for a good price, and if they have to compromise on upgrades or features, they'll want an even lower price.
Despite the fact that the Houston market is still going strong, sellers might want to re-evaluate their expectations.
There has been a palpable shift towards buyers and sellers and their Realtors® will have to work a little harder since there are more houses on the market now and they are taking a little longer to sell.
So, a seller might ask, "How do I make my home stand out from the competition?" In order to make an impact on the market and to capture the right buyers, sellers will need to take a few extra measures in order to properly position their home on the market.
The following tips will help you to attract the right buyer and will help you to sell your home more quickly.
1) Price Your Home APPROPRIATELY Let's face it, we're in a buyer's market.
Buyers are savvier now than in the past and they are fully aware that homes are sitting on the market a little longer.
They no longer feel the urgency to buy that permeated the market just a few years ago.
Bidding wars are increasingly rare, so pricing your home correctly is KEY.
In the end, it could potentially save you THOUSANDS of dollars in carrying costs.
It is IMPERATIVE for sellers to be aware of what is going on in their market.
Sellers have to stay up to date with what their competition is doing.
I always set my sellers up in our Online Sellers Advantage program, which is unique to Prudential Gary Greene, as no other real estate company in Houston has anything like it.
Through this program, I keep my sellers up to date on what is going on around the market.
You'll find out how many homes are for sale around you and how much they're asking, you'll get daily reports of buyer activity in your area, and will know exactly how many qualified buyers are searching for a home just like yours.
In order for your home to sell quickly, you will have to price it appropriately for the market.
It has been proven time and time again that homes priced above the market take much longer to sell, and in the end, the seller almost always has to lower the price and has had to cover the added expense of carrying costs.
2) One Word: STAGING! As a Certified Home Marketing Specialist, I understand that buying a house is often a very emotional experience.
In order to appeal to the right buyers for a home, we have to allow them to envision themselves living in it.
Envision your home as a movie set and carefully consider the emotions you would want a buyer to feel upon seeing your home for the first time.
Will they think "This is so cluttered.
I don't think all of my things will fit in this house.
" or "What a fabulous place to entertain!"? Did you know that you can control 75% of a buyer's first impression of your home? Vacant homes take longer to sell, so it is equally important to stage an empty home.
You can do so using items you already own.
Home staging actually costs very little, and in the end, increases profits by a great deal.
Home staging helps you sell your home faster and for more money.
In fact, the studies show that sellers who have staged their homes, usually walk away from the closing table with 17% more money and their homes take 50% less time to sell.
3) Position Your Home on the Market Correctly Home Staging is part of positioning your home to sell, but another key factor is understanding who your target buyer is.
My cutting edge marketing plan is designed to achieve target, or niche marketing.
First, we have to figure out who would probably be most interested in your home.
Do you have a large, five bedroom suburban home with a pool? You probably won't appeal to a first time buyer, but would be ideal for the family looking to put their kids in your school district.
Through the use of home staging and target marketing, we will devise a plan to attract the type of buyer who would be most likely to fall in love with your home and put in an offer.
4) Marketing Sells Homes Buyers have become increasingly savvy and 84% of them begin their home search on the internet, even before contacting a realtor.
A buyer can determine whether or not they find your home appealing without ever seeing it in person.
Over 65% of buyers find the home they end up buying either on the internet or through their Realtor®.
Through my partnership with Prudential Gary Greene, I am able to offer my sellers an unsurpassed web presence.
Our listings are featured on more websites than those of any other brokerage in Houston, bar none.
This fact, in conjunction with a customized target marketing plan for your home, results in selling your home more quickly and for more money.
5) Think Like a Buyer Put yourself in the buyer's shoes and look at your home through his or her eyes.
What would your first impression be? How would you feel? What would you change? Understanding the buyer's mentality is a crucial factor in the selling process.
If we understand the buyer's point of view, we are more likely to correctly position our home for the market.
Listen to your Realtor® and take any feedback you may receive at an Open House into consideration.
Try not to take any negative feedback personally.
Remember, your memories will move with you to your next home.
When selling your home, you have to make a shift and treat it as a product and tweak a few things in order to make it appeal to as many people as possible.
Make a few minor changes, like using neutral paint colors, but avoid making any major changes like a complete kitchen overhaul.
If a buyer insists, a price adjustment could be a potential compromise.
There are three key factors that come into play when selling your home: location, condition, and price.
If a house is in a desirable location and is in great condition, it will garner a higher selling price.
If your home is not getting the response you were hoping for, it may be time to re-evaluate your expectations and make a price adjustment.
Lastly, don't give up.
Be persistent and make adjustments when necessary.
There are three key factors that come into play when selling your home: location, condition, and price.
If a house is in a desirable location and is in great condition, it will garner a higher selling price.
If your home is not getting the response you were hoping for, it may be time to re-evaluate your expectations and make a price adjustment.