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Douglas Trudeau , Assoc. Broker
Prudential Foothills Real Estate
64 N. Harrison Road, Suite 160
Tucson , AZ 85748
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7 Ways To Sell Your Home In A Buyers Market

You Can Sell Your Home In A Buyers Market Tucson

What can you do? With a significant number of homes falling into foreclosure the selling of your home only gets more challenging. If you think foreclosures don’t effect you think again. Buyers are salivating over the deals they will get from short sales and foreclosures. It definitely effects not only how much your home may sell for Tucson, foreclosures also effect how fast your home will sell. Buyers are looking for WIIFM (Whats In It For Me?).

Is it impossible? No. If you have a REALTOR® to work you are one step ahead of the game. You’ll have access to the latest information about home sales. If you are a For Sale By Owner, you can do research and hope you have everything. You are competing with professionals who sell homes for a living. Homes do sell in a Buyers Market. In Tucson there are over 10,000 homes on the market with approximately 1,000 selling each month. For every house that sells, nine are not selling.

Price is critical to buyers in a Buyers Market. Just because your neighbor sold their home for X dollars does not mean the next buyer will pay that amount. Holding out for a specific price many times prolongs the agony. Ask yourself, “Would I pay this amount of money for my house in this market?” If the answer is no, then why would anyone expect a home buyer to pay that amount?

Don’t get in the way. Buyers want to see homes when they want to see them. Having a home on the market means disrupting your life several times. Putting restriction on time, days of the week, and other conditions only makes it harder for buyers to see your house. Just last week I had out of town buyers who couldn’t see a home because the sellers didn’t want to get out of bed until noon. By noon we were miles away.

Don’t get mad. In a buyers market you can expect to get low ball offers. I like to have fun with them and counter back much higher. It has worked in some cases to bring the buyer back to reality. If several buyers are offering less than your price, guess what? They are telling you what your home is worth to them. Getting mad doesn’t do anything. Its like the old story of the farmer and the mule. Sometimes it takes a two by four along the head to get our attention.

As-Is in a buyers market is a mistake. If its broke fix it. There is that one house out there that buyers don’t have to fix up. Why would anyone want to dump money into a house when there are 3 times the normal number of homes on the market? Not to say there aren’t buyers looking for a fix up. Those homes need to be priced at a reasonably lower price.

Be ready to sell. First impression stands out. If your home isn’t 110% ready for buyers to see before the ink dries on the listing contract, don’t list it. Haste makes waste. Putting a home on the market too soon invites buyers to see a home in less than best condition. Buyers like to see a home when it first comes on the market, not 360 days later. If it looks good, they may come back for a second look. If it looks bad…see ya. Staging a home can make all the difference in the world. Fifty to few hundred dollars can mean thousands of dollars in a sale. Not staging can mean zero dollars and lots of wasted time.

Do you have to sell or want to sell? There is a big difference. There are too many homes on the market that owners think they want to sell…maybe. There is no urgency, no need, no sincerity. These homes sit on the market for weeks, months, or years. They add to creating a buyers market. Sometimes the owner bounces from Realtor to Realtor hoping the next one will get them their high price. Sometimes even the best efforts are not enough.

Buyers are out there. For every home that sells there are many times the buyers. Example, I am down to 3 listings. Two are under contract, one isn’t. We did receive a low ball offer on it though. I have five more listings in the wings that aren’t ready yet. Everything else I listed sold. Imagine that, selling everything in a buyers market. I have over 40+ buyers I am working with in a variety of stages. Three are ready to buy now. Half a dozen will buy within the next 30 to 90 days. The rest are down the road and the computer is searching for them. I check in with them every 30-90 days depending on their need. How many REALTORS® in Tucson are in similar situations? Are you really ready for those buyers?

Yes Virginia Homes Are Selling In Tucson

This entry was posted on Thursday, May 17th, 2007 at 4:08 am and is filed under Tucson Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Thank you for the comments in Active Rain. Love to see your comments here as well.

May 17th, 2007 // Doug Trudeau
[…] I stand by what I said in 7 Ways To Sell Your Home In A Buyers Market when I commented that sellers should evaluate whether they want to sell or need to sell. It makes hard for buyers to know whether a seller is serious or not. […]

June 7th, 2007 // Tucson Real Estate Blogs » Blog Archive » Tucson May Real Estate Report

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