You’ve been browsing Wilmington, NC properties online for a while now and you’ve made the decision...this is the area for you and you want to make the move! The beaches, the fishing, the historic downtown, the southern hospitality. Yep, this is where you want to hang your hat. There’s only one obstacle: you have to sell your home first. So what’s a homeowner to do?
With real estate markets down across the country, sellers are trying just about everything to get their homes sold. Needless to say, some techniques work and some are probably just make owners feel like they are getting the jump on their neighbors. Does burying a St. Joseph statue in your yard make your home more salable than another just down the street? Do savory cookies fresh from the oven make your property seem like the perfect new nest to browsing buyers? How about a rain dance in the back yard? As a selling and listing agent for over a decade here in Wilmington, my advice to you is: stick to the basics! Here are some tips on how to sell your home in a down market:
1. The first step in selling your home is SELECTING THE RIGHT AGENT! Perhaps you already have a personal connection to a great Realtor in your area. Or many you have some referrals from friends or neighbors. Do you see one particular person’s signs frequently or know that one agent or office sells more properties in your neighborhood? If you don’t already have someone in mind, interview several agents. This is the person who will be your advocate, so you want to have a rapport with them. He or she is going to give you advice, work with other agents, market your home, and negotiate on your behalf. I’m not saying this is someone you want to take family vacations with, but it helps to hit it off with them and have a feeling of confidence in their abilities. Did they return your phone call or email quickly or did you have to hound them to come by? Obviously the later wouldn’t be a great sign that they are going to work hard for you. Hear the agent out. Is he or she an old school kind of agent that simply runs ads in the newspaper and throws a sign in the yard? Or do they use some of the most cutting edge internet technology like BlueCoast Realty? As I’m sure you realize since YOU have been searching Wilmington NC homes online, the web is where the buyers are!
2. OK, you’ve found the perfect agent. Now what? PRICING YOUR HOME, of course. After picking your marketing partner, setting the right list price is the most important thing that you can do to sell your home. Let go of what it “should” be listed at and really listen to your agent. Yes, your home may be better than the competition in many ways, but it’s still got to be seen as a “good value” in this buyer’s market. Be the best home for the best price in your area and you’ve got a sale. Get involved and understand the active and sold comps in your area. Where are homes actually selling? When desirable properties hit the sweet spot in price, they will get offers.
3. With the price comes the CONDITION OF YOUR HOME. Clean it up. Throw out that moldy unrecognizable items in the frige. Make the beds for showings (yes, there are people who don’t believe it or not). Keep the yard trimmed and looking good. Get rid of the clutter. Have the carpets cleaned and paint icky walls on the weekends...you’d be surprised at how little imagination some prospective buyers can have when it comes to paint colors, hand prints on the walls and dirty carpets. Get a home inspection and fix what needs fixing--buyer’s typically ask for lots of repairs done these days and refusing to do them might kill a deal. You may not want to invest more money into your property, but it will pay off.
4. Lastly, DON’T WORRY about how much money you are “losing” since the height of the market. How many people sold at that exact time and didn’t reinvest in something? Practically no one! Everyone is in the same boat. Like all investments, you win some, you lose some. And even if you are losing some money on your current home, you are probably going to get a great deal on home in Wilmington where the sellers feel the same way. Come on down and start enjoying life at the coast. Life’s too short to consider “waiting it out” for years until the next big real estate boom. Keep in mind, when that time rolls around, you’ll pay a lot more for a property in your next hometown as well!