How to Sell a House in a Slow Real Estate Market – The 5 Best Ways

51 views 11:04 am 0 Comments January 31, 2023

Real Estate is, and always has been, a market that runs in cycles. Experts may argue the exact number of years it takes for the market to peak and then plunge, but few will dispute the industry’s cyclical nature. And with each cycle, come an upside and a down, each affecting the way homes are bought and sold, and the buyers and sellers themselves.

Most of us LOVE real estate when it is going up, but we HATE it when the market slows down. Agreed? Sellers especially ‘feel the pain’ of a down market. We know how to deal with selling our houses when the market is going up, or appreciating, but most of us have NO IDEA how to how to sell a house by owner in missouri┬áin a slow real estate market. The normal ‘rules of thumb’ for selling a house don’t seem to apply.

Buyers get very picky and hard to deal with, and as a Seller, you have very little ground for negotiation. Buyers often want prices discounted, repairs made, and special terms offered before they’ll consider purchasing your home instead of the house next door. This is what makes folks pull their hair out… trying desperately to figure out “How are we going to sell that darn house in such a slow real estate market?” This is a ‘Question for the Ages’, and a very real frustration that many people are facing right now.

In my experience (I’ve bought and sold over 100 properties in the last few years), I’ve discovered a few powerful ways to minimize your headaches, and hopefully maximize your checkbook. Let me share them with you.

These are 5 of the best ways to sell a house more quickly in a slow real estate market:

1) Be the Lowest Price – Understand the “Buyer Mentality”. Buyers either want the absolute cheapest house in a neighborhood, or they want the nicest house on the block. If you choose to compete in the “Price” game, you are going to need to sell way below value. You are competing with ‘fixer uppers’, bank owned properties, and vacant houses. So don’t get greedy. In order to close quickly, you’ll need to see what’s on the market and price accordingly. Remember, understand the Buyer Mentality and be realistic.

 

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