How can I sell my home in a market like this?  It’s a question I hear a lot.  So let’s talk about some steps you can take to boost the chances of selling your home for a reasonable price in today’s market.

Notice I said a reasonable price.  That deserves qualification for two reasons:

1) Homes in the Phoenix area are actually selling like hotcakes right now — homes sales in February were 82% above February 2008.  But prices, as we all know, are down about 30%.  So you can sell your house.  The question is: How low can you go?

2) Sellers in today’s market have to redefine what “reasonable price” means.  You won’t get what you would have got last year.  You certainly won’t be able to sell your house for what you paid for it if you bought during the boom.  But if you have to sell your house today, it is possible and you can get a fair market price.  Read on to find out how (and, for more details, check out the free article 7 Keys to Selling Your House When Sales are Slow.)

1.  Price your home aggressively.

2.  Quickly cut the price if you don’t get action. 

3.  Finding the right agent is critical.

4.  Curb appeal.

5.  Consider home staging.

6.  Fix stuff.

7.  Offer flexible terms.

8.  Market like it’s going out of style.  If you owned a business, you wouldn’t expect to sell your product or service without marketing it, would you?  The same goes for houses — you (if you’re listing your home yourself) or your agent should be able to aggressively — and effectively — market your house to potential buyers.

According to Realtor.com, “Each [home] unique, the marketplace is always in flux, interest rates constantly change and new buyers search for homes each day. With such fluidity, it requires REALTORS® to craft marketing plans specifically for individual homes and market conditions.”

At MyPhoenixMLS.com, we create a tailored marketing plan for all of our clients’ homes.  Some of the key aspects of that marketing plan include:

  • Advertising targeted to the kinds of buyers who would be interested in the home we’re listing
  • The use of innovate technologies (in today’s highly competitive housing market, old selling methods aren’t as effective)
  • Leveraging our connections (according to the National Association of Realtors, 82% of home sales are the result of agent connections)
  • Working with partners who work exclusively with buyers (many of whom may be interested in the listed property)
  • Writing an engaging description of the home on the Multiple Listing Service (MLS), where thousands of real estate agents throughout Arizona and across the country can see it
  • Showcasing the home as a Featured Listing on Realtor.com, Googlebase, and 6 other websites for prospective buyers
  • Showcasing the home with an online virtual tour
  • Creating a home book and flyers to advertise the property
  • Setting up a toll-free number with pre-recorded information about the home, available 24-7; and following up on each inquiry with a personal phone call

What do you think? Have you sold a house recently?  What strategies did you use?  Click on the “Comments” link to join the discussion!