Selling Smart in a Buyers Market

By Douglas Trattner, FrontDoor.com | Published: 1/14/2008 |

Sellers desperate to unload slow movers should re-evaluate their listing price and consider these strategies.

1. Upgrade “When you have a glut of inventory, your house really has to shine above the competition,” says Adam Kaufman, a Cleveland-based agent with over $400 million in real estate sales. Buyers in today’s market know they can be very particular. As a seller, Kaufman explains, you have to make a stellar first impression. Kaufman strongly advises that sellers replace dated carpeting, strip wallpaper, install granite countertops and upgrade to stainless steel appliances. “If a buyer walks through the front door and is dissatisfied in any way, he or she is off to the next house,” Kaufman warns.

2. Stage That Home The first step in any home-staging is a thorough de-cluttering. Sellers should purge the house of all personal belongings, family photos and countertop appliances. Furniture should be rearranged so as to make the room appear larger. “Space sells,” she says. If the family has already moved — and taken the furniture with them — Hirschberg suggests calling in a stager to furnish the home. “People have trouble connecting with an empty house,” she says.

3. Curb Appeal “People make assumptions about the interior of a house based on the exterior,” Hirschberg says. Try these easy strategies for enhanced curb appeal: * Power wash the house * Lay a fresh cover of mulch in the flower beds * Paint the front door * Replace the address numbers

4. Ancient Chinese Secret “Feng shui is something that sellers are beginning to appreciate more and more as a technique to sell their home. Especially within the Asian community,” says Beverly Hills-based agent Joyce Rey. If a house isn’t selling, some believe the fault lies in a shortage of Qi (chee), or energy flow. Bringing in a feng shui expert to evaluate the home and make modifications to the placement and arrangement of items within is said to improve the odds of a speedy sale. 5. Going, Going, Gone “Home auctions were all but nonexistent a few years ago, but they are more widely available now,” says Roberta Murphy. While a house auction is indeed a reliable way to sell a house quickly, there is no guarantee the seller will be pleased with the price. Also, warns Murphy, buyers are subject to home auction fees that can be as high as 8 percent of the sale price. And limited disclosure statements can be potentially disastrous.