It is hard to predict what the housing market will do with accuracy due to all of the economic and political factors affecting it. You might end up waiting months or years for something to change, and even then it may not be in your favour. However, when selling (or buying) a home one should still consider whether it’s a buyer or sellers’ market.
In a buyer’s market there are more people looking to sell houses than there are people looking to buy (i.e. more supply than demand). When it’s a buyers market, sellers need to ensure that their property is priced fairly as there are more options for the buyer to consider.
A seller’s market is the opposite, there are more people looking to buy houses than there are selling (i.e. more demand than supply). If options are limited buyers are more likely to spend a little extra to ensure that they get the property that they want. The best-case scenario is to have buyers competing to get your property, thus driving up the price.
So, how do you get buyers competing for your house? Staging your home in an appealing way is an important factor. Here are some tips to persuade buyers that your house is the perfect property for them:
The curb appeal When a potential buyer drives up to your home they are already envisioning themselves sleeping, eating and raising a family there. You need to impress them before they even get inside. If your lawn is unkempt and paint is peeling on the outside, they will imagine the interior to be in a similar condition. Not everyone wants a fixer-upper, and if they do… they want it for a good price.
Giving them space to imagine You need to remove yourself as much as you can from the equation. Ideally, you should hide away as many of your personal possessions (family photos, memorabilia, etc.) as possible because this distracts your potential buyers from imagining their own possessions in your home.
You wouldn’t want to live somewhere that is crowded, create as much open space as possible and let them explore. If you happen to be home at the time, greet the potential buyers and then leave them to walk through your home – if they have a particular question they will find you.