Southern Maryland homeowners get jittery when that “For Sale” sign starts becoming a permanent fixture on the lawn. They start to wonder what is wrong with their property – especially when many buyers come eyeing but no one is buying. Why is it not selling?
If your house is languishing on the market, it’s time to rethink your selling strategy. Even if the market is slow, there are things you can do to get buyers to commit to buying. Here are six of them.
Give it a makeover
Are buyers skipping your property because they think it needs a makeover? They are more likely to buy a Southern Maryland home that requires little or no work. But don’t worry that you need to spend a lot of money on an expensive renovation. Instead, ask your Realtor what buyers didn’t like about your property. You can also ask buyers to give honest assessments of your house. Put your focus on simple and less expensive repairs like fresh paint or a thorough cleaning. Does the garden need sprucing up? These things won’t cost you much, but it may make the difference in a tight market.
Lower the price
If you believe your home is fairly valued, you may be reluctant to lower the selling price. There’s no point in clinging to a dream price if your home has been listed there for months on end. The Southern Maryland property market is not stagnant; prices move up and down depending on the economic outlook and other factors. Demand can soften a depressed market and make buyers sensitive to prices. A small cut in price might be enough to seal the deal. Wouldn’t this be better than waiting for another year for the market to change? Compare the properties currently on the market to get an idea of the competitive price point. Your agent can also advise you on price movements in the market.
Take a break from the market
Your property loses its appeal the longer it stays on the market. Buyers spend a long time looking for their dream home, and if they notice your property is not selling, they will assume something is wrong with it. After seeing your property many times, they may ignore it. On the other hand, some buyers will take advantage of the situation and try to negotiate for a much lower price because they know you are desperate to sell. Unless you can’t afford to, take the house off the market for a few months before listing it again. If the market is stagnant, consider renting it for a year or more before putting it back on the market.
Evaluate your relationship with your agent
If you don’t have a good relationship with your Southern Maryland real estate agent, it could be making the situation more difficult. You need to agree on sales strategy and pricing to prevent unnecessary conflicts with your agent. Have an honest conversation about what you expect from the deal, keeping in mind the prevailing market conditions. Listen to advice from your Realtor since they understand the market and are in touch with potential buyers. Both of you should be flexible to enough make changes to your strategy if something isn’t working. If you think the agent doesn’t understand your needs, it may be time to work with someone else.
Change your advertising
Most buyers will find your Southern Maryland property on real estate websites because most home searches begin online. Change the photos you have on your listing and try different shots in different parts of your home, such as pictures of the garden or different angles of important rooms like the kitchen. If your original photos weren’t done well, hire a professional photographer to take pictures of your home. Edit property descriptions and other promotional details to give your listing a new feel. Small changes can spark interest from buyers and lead to a sale.
Selling a home is hard in a stagnant or depressed market. You can stay ahead of competitors by thinking like a shopper yourself! Comparison shop to see what other homes are for sale so you can see what incentives buyers are looking for. Make similar alterations to your property to attract them. Comparison shopping will also guide you on pricing.
White Plains MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309