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How to Sell a home in 2008

Thinking of selling your home? Well youre going to need some creativity in todays market. The downturn in real estate over the last two years has left a record number of homes on the market and the mortgage cruises has made it harder for buyers to qualify for a home.

So what are home owner to do? Get creative! Selling your home has gotten more difficult but not impossible. Now owners have to advertise more, offer more, and expect less. Lets take a closer look.

Prior to the current down turn home owners could contact and agent and the agent would list the home in the MLS, (Multiple Listing Service), within a day or two people would be lining up to have a look at the home. But today there are just too many homes on the market and buyers have hundreds of choice. Its impossible for a buyer to see all the homes in their area in a reasonable amount of time, additionally with the price of a tank of gas souring as high as mortgage insurance, no one can afford to drive all over town.

So more and more buyers are turning to agent websites, online MLS websites, and independently operated real estate sites from the comfort of their own home. They can browse all day from the couch or kitchen table and see pictures and video, they can do in depth analysis on neighborhoods, taxes and school districts. Usually more information can be found about a home and neighborhood than what the agent can share and bouncing from one property to the next takes only seconds.

So for sellers, an online presence is not an option, its a requirement and the more places you advertise your home, the more likely you are to find a buyer. Agents of past would often market your home online in a few popular websites. However with agents selling less homes, marketing has taken a back seat to providing for their families so its time sellers started marketing their homes online themselves.

Next, being competitive and expecting less. Just a few years ago a buyer could contact an agent and plant a sign in the yard and the buyers would come. Now it vital for sellers to stand out from other homes on the street that are for sale. This means making repairs not usually considered before selling a home, being prepared to reduce your asking price, offering incentives such as appliances or new carpeting. Buyers no longer want to haggle over curtains and refrigerators so make a list of all the extras your willing to provide. You bet any buyer that goes through your home has already seen or will see many others. So compare your home just as the buyers will, and adjust your offering accordingly.

Its not impossible to sell a home, just more competitive.

Richard A Curtis is owner of MilitaryLink LLC and www.Off-BaseHousing.com a real estate services company for military communities. Find more information relating to Military and Military Housing here.

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