Selling in a flat market - top 3 things to consider

07 Jun 2016| Posted by: Geoff Baldwin

Geoff Baldwin, MD of the RE/MAX real estate group says that marketing, presentation and price are the top 3 things to consider when selling in a flat market. Whilst most people tend to want to market their property as though it is the only one available, the fact is it is on the market in competition with hundreds of others and hence it needs to stand out in that massive pool. To do so it requires quality marketing to ensure it captures the attention of every buyer in its price range. Attention to detail in presentation is critical when people have so many properties to compare and are often looking as much to eliminate as to choose. Lastly pricing or overpricing is the surest way to stop inquiry, to minimize viewings and to stale a property to the market. Properties that are overpriced tend to eventually sell for much less than they would have had they been priced to meet the market from day one. Keep in mind the most asked question when buyers are interested in placing an offer is .... "How long has it been on the market?" The longer it's been for sale the less they are likely to offer so it is critical to get the pricing strategy right from day one.