How to Sell a Home in a Soft Market

In a seller's market, houses in desirable locations basically sell themselves. But in a soft market, you've got to be real estate savvy to attract buyers. A combination of the right home improvements, staging and tactical pricing can help sell your home faster than the many other properties available on your street. Here's how to sell a home in a soft market.

Instructions

1. Pick a buyer-friendly price tag. Many sellers mistakenly choose a price base on what they need to earn a profit or what comparable houses sold for before the housing slump. Unfortunately, this strategy won't lure buyers who have plenty of other lower-priced homes to pick from. Ask your real estate agent how to price your home to sell fast.

2. Consider making extensive home improvements. At the very least, get rid of wallpaper and old carpet that might have bad odors and slap on a fresh coat of neutral-colored paint. Also consider upgrading your kitchen and/or bathrooms. Sometimes refacing or repainting cabinets--or even simply changing cabinet knobs and light fixtures--can give your home a more up-to-date look.

3. Look into staging your home. A professional can rearrange the furniture and add props like plants, vases and window coverings to maximize your house's appeal. If a professional stager is not in your budget, watch shows like "Designed to Sell" and "Sell This House" on HGTV for staging tips.

4. Offer buyer incentives, ranging from taking on some of their closing costs to giving money back on the house. By the same token, you can offer agents a bonus for attracting buyers to put your property at the top of their showing lists.

5. Consider every offer--even the insulting low-ball ones. Try not to take it personally. The sad truth is the market might not turn for a long time, and if you want to sell your house, you might need to accept a lot less than what you think it's worth.