How to sell your home in a challenging market

First off the first thing you need to decide before selling you home is one of the most important decisions in the home selling process. You must hire a professional agent. Hiring a licensed real estate agent will save you headache and heartache when it comes to selling your home. It’s best to use someone who has great referrals from multiple sources. The cost in commission to the agent is well worth the money. Professional agents have access to buyers, market expertise and selling strategies that make it much easier to sell your home. Once you have found your agent here are a few tips on what you can do to ensure a successful home sale.

Know your market and set proper price expectations.

In a stable market home prices do not fluctuate very much over time. In a challenging market however prices can fluctuate from town to town or even from subdivision to subdivision. Take the time to do some research on your own so you can set realistic expectations on your asking price. You can research other homes in your area and this information can be found on most realtor websites. Understand that while the price of the home is important based on other homes in the area that your home is unique and may attract potential buyers beyond the price alone.

Property condition

The condition of your property is sometimes the main motivation for a buyer. If the buyer can not see themselves living in that home chances are they will not be interested. Here is where we take into consideration those extra features your home may have that others do not. What makes your home unique and how well those features are displayed. For example if you have hardwood floors, are the floors clean and visible or are they covered with clutter and rugs that detract from the displaying the floor fully. If you have repairs that can be accomplished for little money and time, fix them prior to showing your home. Little details both positive and negative can affect the decision of potential buyers. That is why it is such a good idea to put your home in prime selling condition before you put it on the market. Remember to show of the positives and repair any issues that could hurt your chances of selling your home.

Trust your agent

Your real estate agent is your best ally. Trust their judgment and let them input into what they feel will give your home the best change to sell. If you have secured a qualified agent with good referrals, allow them to do their job in assisting you. They understand the market and potential buyers well.
Notable statistics

Here are a few additional notable results from HouseHunt.com member-agents in the fourth quarter of 2010.
 - 87% reported their market reflects a good supply of homes on the market (the highest percentage posted in 2010)
 - 13% reported a limited supply of homes on the market, which represents mostly healthy and active communities where prices are also steady or slightly rising.
 - 59% of agents reported that sellers are getting under 95% of their asking price (the highest percentage recorded since the first quarter of 2009)
 - 54% reported that listings are getting multiple offers while on the market (the lowest amount reported since the second quarter of 2009)
 - Only 6% of agents reported their home values as decreasing 15% or more from previous quarter

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor

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Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com