TIPS FOR ABQ HOME SELLERS

I actually saw something useful about the housing market on television this week. It was a piece from www.redfin.com on Tips for Selling Your Home. I’ve added a few of my own observations but here goes:

Don’t price high. If you start high “to see what happens”, you have a slim to none chance to get viewings much less buyers. Statistics show that those who price high get 88% of their asking price. Then when you drop the price, buyers smell blood and push aggressively. If you price realistically, you are likely to get between 95-100% of your asking price. Buyers aren’t stupid and their realtors will give them good information on sales in your area so offers will be realistic.
Be web savy. 75% of buyers nationally, and I think more like 85% locally, search on the web for a home before they even contact an agent. If your agent doesn’t have you on at least 8-10 good websites, then get another agent! Also, keep your price within the search framework so don’t price your home at $305,000 as most people will do a search cut-off at the even number of $300,000, for example.
List on Friday. People, and agents for that matter, are most likely to search on Fridays so you will get more traffic both on the websites and to your home.
List on Craig’s List. Make sure your agent puts your home on Craig’s list and updates it regularly with a link to your website. I haven’t sold a home yet on Craig’s list but I get about 200 hits a month on my website from it. Once they get to your agent’s website they will find your listing.
Wait to List if a Foreclosure is in the Neighborhood. It’s simple; you can’t compete. The foreclosure price will be an anchor that will pull your list price down. Wait.