Advice for Wary Sellers: Be Systematic

Sellers have plenty of power in today's buyer's market if they're realistic.
The Kansas City Star: REALTOR® Magazine Online
Danell Watson, a residential consultant with Graham-Welch & Associates in Kansas City, says if she hears “It’s a buyer’s market” one more time, she’s going to scream.

Here’s what she tells her clients who want to sell and who are frightened by predictions that they’ll have a long wait and then accept a low price.

Make a buyer’s profile. Who is going to buy the house? Be realistic.

Study the competition. List all the nearby houses on the market. Learn what the homes are like, why they are being sold, and at what price.

Get comparable sales data. An appraisal is a good tool, but so is looking at what other properties have sold for.

Price competitively. Even if it means taking less than you’d hoped – or less than the loan payoff amount.

Fix it. Clean it. Remove it. Getting rid of any wallpaper leftover from the ‘70s is always a smart move.

Make friends. Tell all your neighbors that you intend to sell and invite them to take a look. They may know somebody who is in the market.

Time limit. Decide how long you’re willing to wait and what happens then if you don’t sell.