E Realty International 305-361-6606 ext 4
The Square Shopping Center 260 Crandon Bl. #49 Key Biscayne, FL 33149
7 tips to sell your home in a crowded Key Biscayne market
When the neighbors are selling, too, it’s understandable to worry. But just because several homes or condos are for sale similar to yours doesn’t mean you can’t be successful. Here’s some advice to help boost your odds.
In today's economy, it's tough enough to sell just one home in a neighborhood. But when there are multiple "for sale" signs on the same street, sellers often fear they're in for an especially long, trying experience.
A crowded market creates visions of price wars among neighbors who've lived on the same block or condo for years. Sellers may also worry that potential buyers will conclude that something must be wrong with the neighborhood if everyone wants to leave.
Here are seven things you can do to improve your odds of a sale when the neighbors are selling, too.
1. What strategies are you using to make your home stand out?
2. 'Sell' The Key Biscayne Lifestyle.
Help your buyer get past the fear that something may be wrong with the neighborhood by describing why your community is great.
Another way to plug the neighborhood is to write a seller's letter to potential buyers that anticipates and answers likely questions.
Explain why you are moving, assuming it's for a positive reason, and how you're leaving something great behind. Give the impression that you're happily moving away, not that you're happy to be moving away.
Make copies of the letter and place them alongside your fliers, brochures and other important sales material.
3. Give easy access to your home.
If there are multiple listings in your area, you'll probably have a higher number of impulse house showings.
Your online presence is very important. Go with a tech savvy real estate agent and company. Google rankings are extremely important during these times.
It's reasonable to expect people to give notice before showing up on your doorstep, but don't make potential buyers jump through hoops before they can see your home.
Severely restricting the hours your residence is available for showings could cost you a prospect.
4. Stage your home
When done right, your home can really stand out from the others in the neighborhood.
Top home-staging tips include:
Home staging is essential because even in this tough market, buyers tend to choose a home based on emotion rather than price. "Consumers are price savvy, and they'll make sure they're getting a good buy, but it is the emotional appeal of a nice-looking home that seals the deal.
For sellers who want extra decorating, can hire a professional home stager.
One advantage is, there are tips to a homeowner that the real-estate agent might be reluctant to share. For example, if a house smells bad, the home stager can break the news to the owner and offer constructive suggestions for eliminating the odor.
Home stagers can be the bad guy in many situations, in most cases, the owner is grateful for the feedback.
Fees for home stagers vary according to the level of service needed.. An initial consultation with recommendations usually costs between $100 and $400.
Sellers who plan to stage their homes should complete major cosmetic improvement projects, such as replacing worn carpet. Buyers are more reluctant to take on even minor fixer-uppers in this economy..
People have tighter budgets, and lenders have even tighter loan restrictions, so buyers don't necessarily have the extra $2,000 out of pocket to put into a new home. The places that look like they're in move-in condition will be more appealing.
5. Price your house right
Real-estate agents can look up these "comps" for you and suggest a fair value.
Resist the urge to ask for more than what your home is worth.
If your asking price is higher than it should be, you'll just help everybody else in your neighborhood sell their homes first.
However, if you're convinced that you're asking for a fair amount, simply let the buyer know why your home is worth more than another one that is selling for less.
Justify the value of your home, If you've made upgrades, highlight them. Most buyers won't know that your granite countertops were a $6,000 improvement you made in your kitchen unless you tell them.
6. Use creativity to boost buyer interest
Rewrite your sales ads every few weeks, and revisit your selling Web site and change the pictures a little. Take pictures from the right side of the house and post them for a few weeks, then switch them out with pictures taken from the left side or the front of the house.
As buyers browse the listings online, they may stop at your description and give it a new viewing because they hadn't seen that particular picture before.
If people visited your home but didn't make an offer, check for any feedback. That information could let you know how your home compares with others in the neighborhood and whether or not you need to make any improvements.
7. If your neighbor sells first, celebrate
Looking on the bright side. "Tell yourself that the competition has removed itself from the market. "You're now that much closer to finding the perfect buyer."
Don't forget, there are different styles of homes within neighborhoods. They have different features, so it makes sense that they will appeal to different buyers.
E Realty International The Square Shopping Center #49 Key Biscayne 305 - 361 - 6606
Fax: 305 - 361 - 6669