1. Understand what "market value" means.
It's not what your friend sold his house for two
years ago or even two months ago. It's not the value your latest tax assessment was based on or what an appraiser
said the house was worth a year ago. It is
exactly what someone is willing to pay for your house today. Price realistically and broaden incentives,
such as closing costs and throw-ins like appliances, flat-screen televisions, etc. There is an old saying: "There's
nothing wrong with a home that the right price can't fix."
2. Don't be an As-Is seller.
That is, unless you absolutely have to be one. Potential
homebuyers aren't looking for fixer-uppers in the current market unless they are rock-bottom, bargain-basement priced.
Large volumes of foreclosed homes are already being sold in poor condition at auction.
3. Hire a committed, knowledgeable realtor®
The best agents have an innate sense for that right price
and right marketing plan. They can suggest the necessary repairs and tweaks while targeting your home to the right buying
group. They will also keep you informed of what they are doing to market your property and of any activity generated.
4. Know your market's nuances.
No two markets are exactly alike. Yes, most sellers are
now swimming upstream. But there are always counter currents to consider. In many areas, modestly priced homes have bigger
buying pools because tighter mortgage qualifications are keeping buyers out of more expensive homes. A little research and
a savvy agent can give you an edge and an education.
5. Use the Internet.
According to compete.com, total time spent online rose 24.3 percent from the fall of 2006 to the fall of 2007. Yes, people are
still scoping out newspaper classified ads and real estate listing magazines, but more and more Americans have been wired
to at least start their home shopping online.
