The present state of the real estate market may well be a boon for would-be buyers, but it is a certainly a difficult one for sellers. No longer can the latter count on making a great deal of money (or even any money, for that matter), but the large number of Bradley Beach NJ homes for sale means that sellers are competing to find a buyer. For those of you who are first-time sellers and have never been through the home-selling process, the following suggestions are designed to help you face reality, make your property appealing to a buyer, and ultimately sell your home.
PRICE IT RIGHT FROM THE START:
Since the greatest number of showings will occur in the first two to three weeks of the listing, it is important that you set the price (based on comparables and advice of your Realtor) competitively at the outset. Lowering the price after the initial listing only wastes time and costs you potential buyers.
BE PREPARED TO LOSE SOME MONEY:
Understand that this is a market based on supply and demand and that you just may not be able to sell for the appraised value of your Bradley Beach NJ home or even what you paid for the property a few years ago. The market value of your home today is what a buyer is willing to pay, so unless you want to hold on to your home until the market improves, be prepared for the possibility that you may be the one bringing money to table.
ACTIVELY PROMOTE YOUR HOME:
Ask potential Realtors you interview how they plan you market your home–and to whom? If it is a starter-home that will appeal to the younger set, then take advantage of technology such as smart phones, attractive photos on the internet, and sites that contain information that potential buyers can access electronically. And don’t forget the old-fashioned word-of-mouth approach. Spread the word among friends, family, coworkers, etc., and ask them to do the same.
Today’s sellers are turning more and more to finding ways to create interest in their property and motivate hesitant buyers. Since builders of new homes offer such incentives, it is becoming commonplace for sellers to do the same. Examples of incentives include:
- Paying points will reduce the buyer’s upfront cost and appeals to the cash-conscious.
- Buying down the interest rate: Offering to pay discount points to lower the buyer’s I interest rate will make your home more affordable, and thus more appealing.
- Paying for some or all closing costs: By doing this you are once again decreasing the amount of upfront cash needed by a buyer. You can determine the mount you will contribute or the items you will cover.
- Providing a home warranty: If you are competing with newer properties, a home warranty will give the buyer some insurance against costly repairs during the first year or two. Such an offering is a relatively inexpensive but is appealing to a concerned consumer.
Note: If you do offer incentives of any kind, make sure that they are included in your real estate listing.
MAKE YOUR HOME MOVE-IN READY:
Generally speaking, today’s buyers of a Bradley Beach NJ home are not looking for a fixer-upper or even for a property that requires any work at all. Their busy schedules motivate them to purchase a house that needs no effort or expense on their part. That isn’t to say that you have you have to make major upgrades, but you do need to make any necessary repairs, complete any projects you may have started, and consider brightening the interior up with fresh pain and new flooring.
Patrick Parker and his Realty Team are experts in Buyer Brokerage and specialize in representing your best interests, negotiating with your goals in mind and getting you the best possible deal when you buy your next Jersey Shore home.
When representing you as a Seller, they go the extra mile to help you achieve your goals. Patrick and his Team are constantly researching the market and property values so your Jersey Shore real estate is priced effectively from day one. They also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.
For more information about buying or selling a Jersey Shore home, please call Patrick at 732-455-5252 or via email with our convenient contact form.