Welcome back for Part Two!
In my post yesterday, I talked about the current market condition and how it can be a blessing to buyers. I also promised that I would discuss the impact of this market on sellers. LET'S FACE IT...IF YOU NEED TO SELL...REALLY NEED TO SELL...YOU NEED TO KNOW HOW YOU CAN MAKE THE BEST OF A NOT SO PERFECT REAL ESTATE MARKET. AND...YOU NEED TO KNOW RIGHT NOW!!!
It is undeniably a buyers' market, and you should be prepared for what you can expect if you need to sell your home in a buyers' market. However, you need not be afraid. AS LONG AS IT IS A BUYERS' MARKET, THERE WILL EXIST READY, WILLING AND ABLE BUYERS. THE KEY IS TO GET THOSE BUYERS INTO YOUR HOME...AND STACK THE ODDS IN YOUR FAVOR THAT THEY WILL CHOOSE TO PURCHASE YOUR HOME. 
There are three secret keys to making your home stand out from the crowd (and getting a buyer to buy it) in a buyers' market.
1. Your home must be in the top 30% of the market in terms of condition. In other words, if there were 10 homes for sale in your neighborhood...all in the same price range...your home must be in better condition than 70% -- or -- 7 out of the 10 homes. In many areas, it is not uncommon for there to be 20 or more homes for sale in the same neighborhood. I know of one neighborhood in my market that has 46 homes for sale, as of 6 pm today.
2. Your home must be priced lower than 25-30% of the homes on the market. (Don't read that incorrectly. Your home does not have to be priced 25-30% lower than other homes.) Let's apply this rule to the same example I used in #1. If there were 10 homes for sale in your neighborhood, your home should be priced below 2-3 of them.
BEST CONDITION...BUT NOT THE HIGHEST PRICE! In a sellers' market, you could expect to receive the highest price for the best condition. In a buyers' market, being in the best condition ensures that you will sell your home while your neighbor's home sits on the market month after month.
3. Hire a pro! You are probably thinking...'Of course she'd say that...she's a REALTOR®!' Yes...I am...and a really good one! However, I'm not just being self-serving. In a challenging market...even more than ever...you need an experienced and successful REALTOR® working for you. You need exposure...lots of exposure. You need an edge over the competition. You need an agent who is aware of daily changes in the their market, so that they can advise you correctly. You need every advantage that a successful REALTOR® can offer you. You need me! (Okay...that was self-serving!!!)
You now have the knowledge you need to face the oh-so-feared BUYERS' MARKET. KNOWLEDGE IS POWER; THEREFORE, YOU ARE EMPOWERED TO SUCCEED. IF YOU ARE THINKING ABOUT BUYING OR SELLING...OR KNOW SOMEONE WHO IS...I KNOW A GREAT REALTOR®!!! I'D LOVE TO INTRODUCE YOU TO HER!
CONTACT:Elizabeth Nieves, Broker REALTOR® (919)749-3749 Elizabeth@ElizabethNieves.com
To search every home for sale in the Triangle MLS...visit my amazing website at http://www.elizabethnieves.com
Elizabeth....
Ever considered moonlighting during this writers strike? You are gooooood!
Very well said. Mind if I use it as part of my listing presentation??? I'll go back and read part one later today.
PS - love your smiley guys!
Roberta: I have found that this information...when presented along with solid evidence of what is really happening 'out there'...is the key to getting the seller to price right from the beginning. Thanks for stopping by!
Jason: THANKS! And...it works!! I used it last night to list a home.
Bill: What about that book??? Hmmm.......I'm ready! I'm tossing some ideas around for the subject. After Christmas, I'll 'hit' you with my list of possibilities. GET READY, mijo!!
Nancy: You can use anything you want!! THANKS!!
Candace: Let's hope! I did list one last night. I was also training a new agent. Afterwards, he said..."Elizabeth, you've got mad presentation." LOL
Kris: You are most welcome, my dear friend. I think there is a lack of understanding of exactly how important our role is to the whole process...especially when the desired outcome is an actual sale. :-)
Elizabeth,
I can recommend a great Realtor as well, in two different languages!! Great job on these posts. I hope they bring you some business.
Right ON Elizabeth - best price and condition are selling - even this upcoming week before Xmas homes will have offers if they meet these 2 criteria! Excellent Post as always :)
Graciella
Gary: Thanks so much! There are so many mixed messages 'out there'. I just wanted to bring it into focus. :-)
Kathy: EXACTLY!
Graciella: Muchas gracias! I'm writing offers on homes that are priced to move and ready for a new owner. Let's hope the offers are accepted!! :-)
You are right on target, kiddo! :) As usual.
Our market is fairly saturated right now - in all price ranges. But things are slowly looking better. Prices are stabilizing (gently) and the buyers are starting to become inquisitive again.
I wish more people would heed your words!
What a great post, If I wasn't a real Estate agent. I would use you!
Merry Christmas to you and your family
Joan: You are kind! I can always count on you to give me an encouraging word. Blessings!
Julianna: And if they aren't serious...this is NOT the market in which to 'test the water'. :-)
Carol: ME TOO! I know it will get better...but we need to play smart and learn from past experiences. Luv ya!
Lisa: I'll have to go check him out! :-)
Pattie: Well...that is probably the most wonderful compliment you could give me! Blessings, dear friend!
Elizabeth, Excellent synopsis of the most important points. Top Condition to me means the home must be staged...
Ginger
What a well presented topic! I can picture myself emailng this post to future client's re fyi/selling advice! Can we do that?
Elizabeth,
If sellers would follow these three basic rules they would have no trouble selling their home. Sellers trying to go it alone in this market can spell disaster, so professional representation is a must.
JULIE: You are too kind, my friend. Thank you for ALL your support and love. You are the BEST!!!
ESKO: ABSOLUTELY! This is the magic formula...pretty basic, huh?? Blessings!!