Selling your home in a slow real estate market is complicated. In such times, only listing your house and waiting for the market to stabilize isn’t going to do the trick. Most homeowners looking to sell their home on their own find themselves in trouble when they list in a slow real estate market.
With that said, it is not impossible to sell your home in such a market. All it takes is an experienced realtor who knows how things work in the industry. It takes a positive attitude and a unique game plan to sell a home in such situations.
Here are some ways a realtor in Vancouver can help you sell your home in a slow real estate market.
1. They Know Their Market
The reason why a realtor is likely to succeed in a slow market as they know it well. They have a good idea about the competition, the value of your property, and the overall shape of the market. Most sellers listing their homes by themselves have no idea when the market is going to turn on a new leaf. Whereas, a realtor knows when the market will turn and wait for their chance to make a sale.
2. Help with Pricing
Since any good Vancouver real estate agent will know that the sales are slowing and the prices are plunging, they'll price your home accordingly. For instance, in a slow market, your home won't be worth as much as it used to a year ago. A realtor understands this and tries to draw as many bids as possible. It most cases, a bidding war is launched where the property is handed over to the highest bidder.
3. By Improving Presentation
In a slow market, a realtor will advise you to keep your home in good condition. They'll make sure that the curb appeal of your home is good, and all the repair and maintenance tasks are finished. At the same time, most realtors hire external help to paint your home, work on landscaping, and clean up clutter so that the buyers find it good looking.
4. Offer Incentives
In most cases, a low-priced home is an incentive that is enough for homebuyers. But some buyers could be holding out for something more. This is where a real estate agent can get creative and offer a creative incentive. May be throw in a 3-day paid vacation to Mexico or offer them cruise tickets. You can also go lenient when it comes to move-in dates.
5. Involve the Neighbors
Another thing realtors do to make a sale in a slow real estate market is that they involve the neighbors. No matter how slow the market is, a willing buyer will purchase the property from you if they want. Getting your neighbors on board can help find such an individual. Ask them to inform their friends, and family members, post on their social media account, and even enjoy a small percentage on the sale.