In a buyer’s market, homebuyers have the advantage. There are more houses for sale than people looking for a new home, so there’s more competition to get those buyers interested in a property. This challenge can make the real estate agent or broker’s job even more difficult.
How can you aid your client in a competitive real estate market? Use these tips to help them stand out and make the home as appealing as possible.
Make Any Major Repairs the Home Needs
You don’t want a potential buyer to walk away because they don’t want to pay for a new roof or HVAC system. In a competitive market, you want the house to be move-in ready for buyers. If there are any potential issues, get them addressed before the home goes on the market — you want the inspection report to come back clean after you agree on an offer.
Stage the Home Well
Aesthetics make a huge difference in a tight market. Just adding a new coat of paint to a room can improve your client’s chances of selling. Consider taking the extra step to make a property stand out by:
- Adding professional landscaping
- Renting furniture to stage the living or dining room
- Upgrading the kitchen and bathrooms with new cabinets or sinks
Show Flexibility to Buyers
In a competitive real estate market, it’s critical to show potential buyers you will work with them. Your client needs to appear flexible and willing to negotiate on things that they might not have done in a seller’s market.
As the broker or real estate agent, you can show you are open to any type of communication from potential buyers. Add information to the listing indicating that the seller is willing to negotiate and open to all offers. Do whatever you think it will take to gain the right attention. It’s also helpful to listen to the feedback from brokers who bring potential buyers to see the home. This information can help you suggest the right improvements to your clients.
Find the Right Price Point
Pricing the property too high will backfire in a buyer’s market because potential buyers can find cheaper homes with similar amenities. However, you also don’t want to price the house too low. If you choose a low price in the hopes of attracting more potential buyers, you may get a lot of offers, but your client won’t want to take them. You may have to relist in spite of all that attention. Take your time to consider all the market conditions before setting a price with your client.
Improve Your Marketing Efforts
When selling a home in a buyer’s market, you need your client’s listing to stand out. The right online and traditional marketing will get the attention you want for the house.
Adding professional pictures that showcase the home in the most flattering and attractive way can aid your efforts. With our team of experienced local photographers, Real Estate Exposures captures the best photos of the house you want to sell. We can also edit pictures and provide many other real estate photography services as well.Book an appointment today to get started, or call us at 717-747-3235 or contact us online to discuss your client’s home.