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What To Know When You’re Selling in a Buyer’s Market

Posted by Chip Glennon on Monday, August 19th, 2019 at 9:09am.

3 Strategies to Sell Your Home in a Buyer’s MarketWhen someone is looking for the ideal time to buy a home, they want a buyer’s market, because this means that the number of homes for sale far outnumber the number of buyers seeking homes. A competitive market can make it difficult to sell a home, but sellers shouldn’t feel like it’s impossible. Homeowners can prepare their home before putting it on the market in order to give it the best chance possible of getting sold. Here are some helpful strategies to keep in mind when trying to sell a home in a buyer’s market.

Price the Home Correctly

When it comes to buying a home, the price is going to be one of the most important factors, and in a buyer’s market, that means sellers are competing with each other to offer the best price. It’s important for buyers to price their home correctly because if it’s too high, the home won’t get very much traction because buyers won’t want to bother when other similar homes are already less expensive. However, if it’s too low, the homeowner can give themselves a bad deal, or buyers may be suspicious of the home if the price seems too good to be true. Sellers need to strike a balance when pricing their home, and discussing it with a real estate agent can help with picking the right price.

Keep the Home Furnished

A common misconception among first-time sellers is that buyers want to see homes without the owner’s furniture in it so they can better imagine their own furniture fitting into the space. However, the opposite is actually true. Here are some of the advantages that having a furnished home can bring:

  • The home will feel warmer and more welcoming to visitors
  • Having furniture can give buyers inspiration for how their own furniture will fit into it
  • Empty rooms can appear smaller than they actually are, and adding furniture makes them feel larger

Just having furniture in a home can help a lot when it comes to making a good first impression with buyers. However, it can be difficult for some homeowners to do so, especially if they have already moved out of the home. In cases like this, homeowners can still furnish their home by hiring a professional home stager.

Purchase a Home Warranty

When purchasing a new home, buyers will often be offered a home warranty by a provider to protect their appliances. However, anyone can purchase a home warranty at any time, and sellers can use that to their advantage. Purchasing a one-year home warranty isn’t very expensive; on average, one will cost $300-$600 depending on the provider and the package being purchased. Advertising a home for sale with a home warranty can potentially help draw in buyers because a warranty can give them a feeling of security that in case something breaks in it, all they have to do is call the provider to get someone out to fix it. Having a home warranty can also potentially slightly increase the price that a home sells for, but this is less likely in a competitive market.

Selling a Leavenworth home in a buyer’s market can be tricky due to all of the competition, but sellers shouldn’t feel hopeless. By using these strategies, homeowners can help give their home the advantage it needs in order to stand out from the crowd and impress the buyers.

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