Wednesday, February 20, 2008

Sales Techniques: Sales tips to sell your house during the real estate crisis

This is a good sales strategy people should apply if they want or need to sell a house in this real estate market. Indeed, house prices have fallen the past few months dramatically during this mortgage crisis. So what is the best technique to sell your home right now?

Some people would try to place an ad, and announce a price that would be higher than their expectations. For example you would show a $1 000 000 price for a house you are willing to sell for 900 000, thinking that anyway the buyer would adjust their prices afterward during the negotiation process.

But this is not exactly the best practice. By doing that, you will probably cool down a lot of potential buyers that would be willing to buy for $900 000. The best way is to place an ad with a lower price than what you would like to sell for. For example, for this same house, you could announce a $850 000 price, in order to stimulate the number of visitors and potential buyers to make an offer.

This is at this specific time, where you will have a large demand that you will be able to upper your offer. Let's think about it: Why are the prices going down? Simply because there is no demand, no potential buyers. But if you have more buyers than the supply, you can raise your prices.

So that is the tip of the day: if you want to sell your home, you should advertise it with a lower price than the one that you would like to sell it for, in order to create demand, and then rise the price while you have couple of interested people to buy.

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