HOUSTON -
At any given point, thousands of homes are for sale in the Houston area. Getting an offer on your house can seem impossible, but there are things you can do to get rid of your house.
Houston Realtor, Paige Martin, knows a thing or two about selling houses in a crazy market. Paige was named the No. 1 ranked Individual Agent in the Keller Williams Memorial Office for 2011 and 2010. She said Houston's housing market has fared well, compared to the rest of the country. However, she said buyers have certainly changed their perspective when it comes to buying.
Buyers are looking for VALUE.
Paige said buyers want the best price, as well as all the bells and whistles. In 2007, Houston had its strongest sales year on record for our city. Compared to last year, our overall area sales are down compared to the highs of 2007 and homes are taking a little longer to sell than they once did. Considering the change in the national real estate landscape, that's to be expected.
We're still a very strong market with eight consecutive months of growth, but because buyers' perspectives have changed, sellers have to evolve to compete in a changing marketplace.
Here's what Paige recommends:
1) Price your home right.
For sellers, it is important to understand your area's recent sales so you have a clear idea of what buyers have been paying for similar homes in the last six months. The more recent the comparable sale, the more accurate it is for your home. If you want to sell your home and sell it quickly, price it in line with the market and not above the market.
2) Stage, stage, stage!
For buyers, home buying is an emotional journey and the decision to purchase a particular home is often initiated by how a buyer "feels" about the property. Staging your home enables buyers to see all of the wonderful features your home has to offer without being distracted by your personal belonging.
Staging can increase the amount of profit you make on your home and lessen your time on the market. In fact, the numbers suggest that sellers can net 17 percent more just by utilizing staging techniques and lessen their time on the market by 50 percent.
Additionally, if you've already moved and you're trying to sell a vacant home, staging becomes even more crucial. Vacant homes take longer to sell and sell for less than their competition.
3) Position your home correctly in the market.
Understand who the targeted buyer is for your home and go after that buyer. If you own a one-bedroom loft, you're probably not selling to a family of four.
If you own a mansion on a golf course, you're probably not selling to a couple looking for a starter-home. Know who the likely buyer for your home may be and highlight your home's features to attract those buyers.
4) Get the marketing right.
Did you know that 84 percent of buyers utilize the Internet during their home search?
Did you know that less than 4 percent of buyers buy a home as a result of walking into an open house?
Did you know that newspaper ads are only responsible for 2 percent of home sales, but that 65 percent of buyers zero in on a home because of a real estate agent or their online experience with the home?
5) Put yourself in the buyer's position.
The more you understand the psyche of today's buyer, the more accurately you can position and price your home to compete.
By knowing that buyers are looking for value and listening to their feedback, you'll be able to understand if you really need to update your kitchen or if you can overcome their objections by altering the price.
6) If at first you don't succeed, try, try again.
In Houston's real estate market, there are two concepts you want to balance:
Property condition Property price