When the housing market is slow, house sellers need to generate buyer interest in the sea of housing listings.
It is not always easy because other home sellers are trying to do the same thing. This makes it even more imperative that the house seller do what they can to make their listing stand out amongst the crowd, and grab the attention of home buyers.
The best way to stand out among the house selling crowd is to make the listing of your house less static. House sellers can do this by creating movement of their house listing.
Creating Movement for Listing
Creating movement takes some initiative and direct involvement on the part of the house seller. The house seller cannot simply rely on the real estate agent to generate this type of movement on their own. It is in the best interest of the house seller to generate as much interest, and to continue to create that interest over time.
The seller can use the real estate agent and their listings to create this movement. In order to do so, the house seller needs to be willing to take the upper hand when it comes to marketing. While the real estate agent will profit from the sale of your home, your house is just one of many to them.
For the house seller, it is the only one you have, and it is in your best interest to maintain some control of your listing, and to change the listing as many times as you need to, in order to create movement and generate a wave of house buyer interest.
Increase the Listing Price
Increasing the price may seem like a strange approach to take in a slow housing market. It will generate home buyer interest, however. An increased listing price will result in your home being listed in a different price range, which means it will be seen by home buyers that are looking in that increased price range.
Increasing the price will also generate appeal to those home buyers who are seeking houses of a certain worth, and will not purchase houses selling under certain listing prices.
The increased price will add perceived value to the home, and will attract those home buyer who only seek the best in everything they buy.
Decrease the Price
Another way for a seller to generate interest in their house is to decrease the price. The trick to decreasing the listing price is not to decrease it all at once. The home price should decrease incrementally.
For example, based on the home’s value and the current market, the seller decides to decrease the price by $10,000, the first decrease in the price should be by about $2,000. Even a decrease of $10 will generate interest.
In this example, this can be done five different times. By decreasing the listing price incrementally, the seller will generate more interest in their home. Each time the listing price is decreased, any home buyers and real estate agents and brokers that are signed up for certain real estate web sites may be notified.
De-List and Re-List
Yet another way sellers can generate interest in a slow housing market is to de-list and re-list. Re-listing a home for sale will bump out the sometimes negative looking “number of days on market” notation. A re-listing will come up as a new listing on some web sites and realtor lists.
The key to generating interest in a slow market is to play with the prices and how it is listed.