The Carvajal Group Blog

Selling your Home in a Slowing Economy

June 16th, 2008

Over the past few months, the housing market has suffered huge losses with little sign of immediate recovery.  Numerous defaulted loans have exacerbated the situation, as banks are unwilling to fund new home purchases unless the buyer is extremely qualified.  The atmosphere has thus put a stronghold on the market and sellers are having a difficult time selling property.  Because selling a home at the moment is particularly difficult, there must be a change in strategy if you wish to move your inventory quickly.  Here are a few tips:

Undercut the Market

Price your home at or below market average.  The market value of homes changes with respect to what people are willing to pay.  Since, at the moment, this amount has declined, you must price competitively to sell.

Use a Competent Agent              

Your realtor does all of the grunt work required to move your home off of the market.  However, if he or she is not familiar with market sentiments and effective strategy, it will move very slowly.

Offer the buyer’s agent at least a 1% increase in commission

  This monetary incentive will motivate buyer’s agents to show the home more often and with more enthusiasm, which will give you an edge on other homes in the market.

Tags: Austin Home Search · Austin Real Estate Agent