If you need to sell your house in South Florida, make sure you understand that current market conditions imply there are more houses for sale, hence, the wait on the market is longer, and house prices tend to plateau or decrease in some places.
It is important to keep in mind that the real estate market is local. Do not be misguided with national statistics about the market, these mean nothing to your town or neighborhood real estate trends. Every market is different.
A first step in the right direction is to get your house inspected before putting a price tag on it. An inspector will find out if repairs are needed and how much they will cost to fix.
The appearance of your house is important in order to attract buyers. You do not need to renovate the entire house, but make sure everything looks good and works well. It only takes some paint, a clean driveway and a lush landscape to stand out. If your house needs repairs, you will have less room for negotiating. Remember, a buyer’s market means you have more competition, so put your best foot forward.
Once you have made your house stand out, you need to figure out how much to sell if for. You do not want to overprice it too high in order to leave room for negotiating, this could scare potential buyers. Get comparable sales (also called “comps”) in your area. Try getting comparable sales from within a mile radius of your house and going back six months to a year. These will give you a good indication of what is going on in your area. Pricing is a strategy, but it really boils down to how motivated you are to selling your house (or how quick you need to leave).
A decision needs to be made about your marketing strategy. Will you use a real estate agent or will you sell your house yourself? If you are looking into saving the agent’s commission (about 6%), you can try selling your house on your own. Professional help, however, can make a difference in terms of pricing your house correctly and marketing to a wider population. Learn more about how to sell your house.
Be aware of market changes and adjust accordingly. Check for recent comparable sales to anticipate market trends before they happen. To learn more about selling real estate click here.