Selling Your Home During A Recession
Selling Your Home During A Recession
An economic downturn or a recession is just a normal part of life that one should live with. It may affect your investments and business dealings but instead of worrying about it, things can be done to make a recession work to your advantage. House selling during a recession may require more work than when the market is at its peak. However, there are still plenty of people out there who need homes to live in and houses to provide for their families. Here are some suggestions on how to sell your house during a recession period. Let these tried and tested strategies help you rise up to the challenge and stand strong even when the real estate market is on a downward spin.
IMPROVE YOUR HOUSE APPEARANCE
Does the house look attractive enough for buyers to call you and schedule an appointment? Perhaps you need to improve the curb appeal of your house as well as its interior design. Plant flowers, cut grass and paint the fence. Likewise, renovate the interior if the home needs reworking. Check the kitchen and bathroom and make all necessary repairs. Clean the house, fix it, redesign it and make it look very attractive for buyers. Doing these things is absolutely essential in selling a home at a good price.
DO A MARKET RESEARCH
Don’t expect people to call you when your house is priced to high. When home buyers shop for houses, they usually look at several properties and yours may be crossed out of the list if your house is priced expensively. Thus, knowing what the current market rate is an advantage as well as pricing your house within the range that the market dictates.
INCREASE THE COMMISSION OF YOUR REAL ESTATE AGENT
This is a common trick that investors usually do when a particular property has been sitting in the market for too long. Instead of lowering the price of the house, investors would rather increase the spread of their real estate agents. You just might be surprised at how this can quickly sell your house.
INCLUDE FREE ITEMS WITH THE HOUSE
You can perhaps include a large flat screen TV with your house for sale or a golf cart when the house is near a golf course. You can also include a recreational vehicle, boat or motorcycle. What item do you think you have that you can add as a freebie to your house that’s for sale? Sell a house with something of great value so that buyers will be motivated to buy the property from you.
ADVERTISE! ADVERTISE!
You can run ads in the papers, install a very visible “For Sale” sign in the front yard, distribute flyers, advertise the property in social networking sites and stage an open house. Market the property well and place ads that stand out in order to sell your house. Be creative in your sales pitch. Instead of writing “house for sale”, write instead “Hansel and Gretel Cottage” or “Shabby Chic Elegance in the City”.
A recession is not the time to be fearful of the real estate market but to be more creative in coming up with ways to sell your house. Even with a recession, people will always have the need to have a home to live in. Job relocation, sudden divorce, death in the family and many other factors can bring about a home buyer. So be imaginative in selling a home. Improve the house, offer additional benefits to your real estate agent and include valuable items in the sale. Selling your home during a recession can be done with creativity, perseverance and dedication.