How to Sell Your House in a Tough Market

There are several things that you can do to help improve the odds of selling your house in a tough market anywhere, including the one we are currently wading through in eastern North Carolina.

In a series of blogs I will discuss some topics I believe will help you. Let’s get started.

Number #1 The agent and his Company.

Find an agent that will tell you what you need to hear, even if you are not ready to accept the information. This market is very challenging and no amount of money the agent spends on photography, fliers, ads, postcards, internet advertising or any other marketing will hide the fact from buyers that the listing is overpriced or the condition is less than the market demands.

Today’s real estate buyers have access to more information about real estate sales and values than ever before.  Some of it may not be accurate but it is believable and therefore accepted as the “truth” by them. Real estate is local and the national figures issued by lots of organizations including the goverment and the National Association of REALTORS® may not reflect what is going on in your market,

You need to work with a full time agent that can tell you:

• How many homes you are competing with
• The turnover (sales) in your neighborhood for different periods
• The “Absorption Rate” positioning that is indicated for your home
• The “odds of selling” your home in a certain time frame

Any agent can “list” your house in the Multiple Listing Service and buy some advertising..but if they can not discuss the issues above intelligently and have the confidence to tell you the truth, as unpleasant as that may be right now, you have an agent that probably can’t help you navigate this challenging market.

A home that is not properly positioned pricewise will not sell and will be very fustrating if you really need to get out from under the house.