The truth of the matter is that there are more properties on the market, fewer buyers, and prices continue to drop due to foreclosures. As a real estate motivational speaker, I speak to thousands of real estate agents and the number one question I receive is “So how do I sell a house in this market?” The way a house gets sold in this market is exactly identical to any previous market, and they are the following:

1) Pricing the property for the market: This is by far the most important decision a seller needs to make to sell a house. No matter what the problem with the house, if it is priced right it will sell. If on the other hand the property is not priced appropriately, statistically speaking, it will stay on the market longer and sell for less than if it had been priced right in the beginning. So, how do you do it?

a. Work with an agent that has access to the MLS system
b. Pull properties that are in closest proximity and are similar in age, square footage, number of bedrooms, and bathrooms.
c. Pull properties that are currently active, sold, and under contract properties.
d. Only look at the above type of properties within the previous 6 months.
e. Once you have found the competing properties, list your property a bit lower than the lowest priced competing property. The reason you do this is so that you can have the most amount of offers, and therefore sell your property in less time and get the best price. Buyers, in general, first put offers on the properties with the lowest list price within a category of properties and then work their way up.

2) Great Curb Appeal: It is vital to have the exterior of the property looking its best, so that when individuals are driving by or coming to look at the property they are automatically attracted to the property.

a. First, make sure that any plants that any potted plants that are currently dead due to the winter have been brought inside
b. Second, make sure that the sidewalks and the front of the property have been properly swept
c. Third, assure that all leaves have been raked from the lawn
d. Fourth, repair any railings that are currently broken

3) Great Interior Appeal: make sure the interior of the property is in move-in condition. Currently, there are quite a few properties are in a horrible mess from the inside, and yet individuals are wondering when they are going to get sold! People fall in love with homes that are clean.

a. First, make sure that the property is sparkling clean
b. Second, de-clutter the house – take as many knickknacks and tons of furniture out of the house.
c. Third, take your personalization away – take the items out of the house such as pictures of the family, leopard skins, and anything that makes it you.
d. Fourth, try to use colors in your house that are accepted by a majority – whether it be on your walls, your carpet or the furniture you choose to keep there.
e. Fifth, if there are appliances or items in the hose that need to be repaired or replaced, go ahead and repair or replace them as purchasers generally cannot imagine how it will look in the future.
f. Sixth, make your house feel like anyone would want to move in and live in your house, similar to a model home at a new home development.