So, You Want to Sell Houses in this Slow Market?

No matter what type of housing market you're in, the number-one selling incentive of a house is its cost. With so many people trying alternative selling techniques - such as adding boats, cars, or other incentives to the deal. It's easy to get caught up in the idea that more stuff means a faster sale - for example, one woman in southern Florida actually offered to marry the winning buyer, and another couple offered to will the selling price of the house back to the buyer upon their death.. However, time and time again we've seen houses with buyer incentives languish on the market - but, when the price is lowered to the right price it sells quickly.

Photo Courtesy of Chad Jones

Price Your Home to Sell

If your house has been on the market for over 30 days, I can guarantee that the home is overpriced. Buyers are motivated - first and foremost - by price. So when they see a great house at a great price, they'll scoop it up quickly. Buyers don't wait to buy when the house will surely go to another buyer quickly. So, what's a great price?

Home Pricing 101

In order to get your house sold at a great price that's acceptable for all parties, you'll have to get yourself a top realtor - someone who sells lots of homes each year. The top realtor that you choose will do the following to price your home:

Review Recently Sold Comparable Homes

The single-best indicator of setting a selling price is comparable homes. In essence, comparable home data will give you an idea of what other sellers are asking for in the same area for the same type of house. During this research, the data that will be pulled will include price, location, square footage, and more.

Review Unsold Comparable Homes

Your experienced Realtor™ can also search through homes that are still on the market, looking for homes that have been on the market for a short time, and those houses that have been available for over 30 days.

Compiling Data

Once all the data is gathered, your Real Estate Agent will get the raw figures and compile it in a readable format. From this data, you'll get a good idea of what works and what doesn't in your market. It will quickly be obvious what the range of sales are in your market, and your house can be priced to sell quickly.

The Power of a Real Estate Agent

If the above pricing seems a bit daunting, what a top real estate agent does for your pricing your home is unbeatable. Not only do they price your house initially, but they also adjust the price competitively as the market sees fit.

You've seen many For Sale by Owner properties languish on the market due to lack of competitive pricing. You'll see someone price their home at the price they want for it - without taking into account any of the external factors buyers consider. By utilizing a top real estate agent's expertise and experience, you'll not only sell your home quickly, but you'll also sell it at a great price.