10 Tips for Selling a Home in a Tough Market

1 Sell It Yourself

When you do the work yourself, you can avoid paying a commission. This means an average savings of five to six percent over using a real estate agent. This savings could provide you with a significantly greater profit, especially when selling a home in a tough market. Note however, that real estate agents are professionals who may be able to provide broader marketing for your home.

2 Go Online With Your Listing

Using the Internet to list your home gives you nearly unlimited space to post photos and detailed information about your property. You can optimize your site to catch the attention of those searching for specific features that your home or property may possess, including location. Use exact terms to describe upgrades and amenities to better draw in buyers who are looking for those specific benefits in a prospective home .

3 Find the Right Agent for Your Needs

If choosing to work with an agent, realize that not all agents are the same. For some, personality may be their greatest strength; for others, an aggressive marketing campaign may help push their sales. To find out how the listing and promotion of your home will be handled, ask for a demonstration. Let the agent give you a mock presentation. Review the marketing material he or she plans to use. Ask whether the agent has an experienced support staff. Judge for yourself whether the agent's skills are up to the level you require.

4 Be Patient

Waiting for a full economic recovery, during a depressed economy, is not always necessary. Your region or local area may experience a change for the better before the rest of the country. You may find renewed interest in your area as people leave more depressed locations to find work or better housing prices. As the Baby Boomer generation ages, more people will be looking to downsize their home or head toward a better climate for their retirement .

5 Take a New Look at Your Place

Using new and critical eyes, approach your property as if you have never seen it before, and give it a thorough appraisal. Look for cosmetic issues, such as colors or clutter which may offend. Make a list of and attend to any needed small repairs. Look beyond the property itself and consider the homes next door and the neighborhood in general. If any issues come to your attention (such as a barking dog, abandoned property, or litter), make an attempt to correct them or find ways to overcome them before any visitors arrive.

6 Discover the Selling Points for Your Location

Almost any area offers benefits associated with an address in that location. With the needs of a potential buyer in mind, create a list of the benefits that fit your home. A family with children will want to know if there are good schools nearby. A businessperson may be looking for a shortened commute. A couple may want access to the culture and nightlife of the city. Everyone needs a convenient bank, a grocery store, and a good mechanic. If your property has nearby interstate access, a low crime rate, or an unusual entertainment venue, let your potential buyers know.

7 Engage Potential Buyers' Senses

As prospective buyers enter your house, they should be greeted with all of the feelings of having come home. Do your best to soothe and welcome by triggering the emotions tied to sense memory and the pleasant feelings associated with those memories. Clean your windows and open the curtains to allow in light. Play soft music or sounds of nature. Fresh flowers and the aroma of baking are almost universally enjoyable. Finally, be sure that your space is neat and free of clutter and the kitchen and bath areas are especially clean .

8 Sweeten the Deal

Creative incentives are an interesting new way to gain buyer attention and offer more for the investment. Traditional incentives included owner-paid closing costs, moving expenses, or first month’s mortgage payments. New incentives include offers of exotic cars, vacations, and expensive electronic equipment to attract buyers.

9 Offer More for the Money

Lowering the home price does not guarantee a sale. An alternative idea is to keep your current price and offer a greater reward to anyone who helps match you with a buyer. If you are using an agent, offer a higher commission. Even a one percent jump can mean significant incentive for the agent to work harder to match your home with a buyer. Offer a finder's fee to anyone who brings you a buyer who completes a transaction. First, check your local laws to be sure this is allowed and then put all conditions in writing to protect yourself.

10 Show First-Time Buyers the Benefits