Selling one's home in new housing market

Logo ColdwellBanker

Selling one's home in the new housing market 

May 27, 2011

Though the old adage "location, location, location" still holds water in today's real estate market, many of the conventional methods some home sellers may be relying on haven't held up well as the years have worn on. A favorable market for home buyers and the advent of new technologies means today's housing market requires proper timing, preparation and a good real estate agent. There are a few ways home sellers can make the most of their home listing and sell their property sooner, reports
Keep a realistic price in mind
Typically, home sellers might think it's wise to price their home for more than they think they can realistically get. The idea, of course, is that through a natural negotiation process, they might end up selling the property for well over its worth. However, that doesn't quite work anymore given the new dynamics at play, and Bankrate encourages consumers to price their homes competitively and realistically early on. Studies show internet real estate listings get the bulk of their views in their first two weeks online, making it even more important for home sellers to set an attractive price to start.
A good real estate agent can help the home seller settle on an asking price that's competitive for their local market
Make the most of technology
The internet and developing technologies also provide home sellers with new ways to advertise a home, something Bankrate says they need to take advantage of. For example, smartphones now allow consumers to scan bar codes for nearly anything - grocery coupons, an airplane boarding pass, tickets to a concert. That same technology is being applied to real estate listings, allowing interested home buyers to scan a code on a "for sale" sign and have vital information downloaded directly to their phone. Bankrate advises home sellers to ask their real estate agent how to arrange that for their listing. Other modern developments - such as social networking and streaming video - can also be used to enhance one's marketing appeal when it comes to selling a home.
Prepare your property for sale
Finally, Bankrate says keeping a home clean and attractive is important now more than ever, especially for those selling their home for the first time. Since first-time home owners might live in a smaller starter home, even a small amount of clutter can make the property seem tinier. It's critical to clear one's home of any mess and de-personalizing the property by putting away family photos and other belongings. The idea is to encourage the home buyer to envision themselves living in the property, and not someone else's family, said Bankrate.