Tips for selling your home in a slow housing market
Are you selling your home? Finding the right buyer in a slow housing market can be tough but don’t despair! We are here to help! From setting a market-related price to preparing for show day, there are numerous strategies you can use to increase your chances of making a sale. List your house on GotProperty today and connect to buyers across South Africa.
1. Set a market-related price
When you’re deciding on a price for your house, make sure that you do your research first. Check how much other properties in your area are being sold for and ask for advice from an estate agent. While you may be tempted to set a higher price and negotiate down, this tactic is likely to be unsuccessful.
When buyers see an advertisement for a property with an excessive price tag, they’re less likely to make an appointment to view it. Buyers lose interest when a property is overpriced so your house is more likely to stay on the market for longer or sell at a much lower price.
2. Complete repairs
Selling your home is much easier when it’s well-maintained and in good condition. Make sure that you get any outstanding repairs done before you put your home on the market. While repairs take time and money, they will significantly increase the value of your home. You may also want to consider replacing old carpets and painting the walls in a neutral colour.
3. Prepare for show day
Clean your house and remove clutter before potential buyers come to view it. A dirty home is an instant turn off to potential buyers and it also detracts from the main features of your property. Removing clutter helps to create a sense of spaciousness that is appealing to potential buyers.
A neat home is also an indication that you’ve taken care of your property. Consider removing personal photos to make your house appealing to a wider audience. Put unnecessary furniture in storage and remove everything from the countertops in your kitchen to make it appear larger.
4. Be available
Selling your home in a slow market is challenging so you need to be available to show your property to prospective buyers when they contact you. If you delay meeting with them, it’s more likely that they’ll lose interest or find another property to buy.
This means you need to ensure that your house is clean and tidy each morning so that you can accommodate last minute appointments. You’ll also need to prioritise meeting with potential buyers over your other commitments.
5. Respond to low offers
While you may feel like responding to low offers is a waste of time, it’s worthwhile to put in a counteroffer. It takes effort and interest for buyers to make an offer in the first place so you may find that they’re willing to pay a higher price. By dismissing a low offer, you could miss out on a potential sale.
6. Spruce up the exterior of your house
You can increase your chances of selling your home by upgrading the exterior of your property. Give the walls a fresh coat of paint, install attractive lighting, and tidy up the garden. An attractive exterior helps to grab the attention of people driving by your property.
It’s important for your property to make a good first impression on potential buyers as soon as they arrive. An attractive exterior sets you up for success right from the start.
While a slow housing market makes selling your home challenging, the right buyers are still out there. List your house on GotProperty and increase your chances of making a sale.