Did you know that in 2021, 42.8% of Tennessee homes were sold above the asking price?
You’re thinking of selling your home in Tennessee, but you’re not sure if it’s the right time. The market for Tennessee real estate is changing, and it’s becoming more and more difficult to sell a home.
But don’t worry. There are still things you can do to increase the chances that you will sell your home. Keep reading because here are five tips for selling real estate in Tennessee, even in a tough market.
1. Don’t Overprice Your Home
Valuing your home can be tricky- on the one hand, you want to make sure that you are getting a fair price for all of your hard work; on the other hand, you don’t want to price yourself out of a sale. In general, it is best to err on the side of caution and go with a lower asking price.
In a buyers’ market, homes that are priced too high will sit on the market for longer and ultimately sell for less than their fair market value. If you’re unsure what your home is worth, get a professional valuation or ask a real estate agent for comparative market analysis.
By pricing your home realistically from the start, you’ll be more likely to find a buyer quickly and at a price that meets your needs.
2. Make Your Home “Show-Ready”
Selling a home can be a stressful experience, especially if you’re worried about getting the best possible price. One way to help ensure a successful sale is to make your home “show-ready.” This means taking care of any minor repairs, decluttering your living spaces, and staging your home in a way that will appeal to potential buyers.
Alternatively, it’s also important to make sure that any improvements you make to your home are in line with the other homes in your neighborhood. If your home is the only one with a luxurious master bathroom, for example, it may not fit in and could deter potential buyers.
Be aware of over-improvements that could result in a higher tax bill. Before making any major changes, check with your local zoning office to see if there are any restrictions on home improvements in your area.
Additionally, don’t neglect the curb appeal of your home. The first thing potential buyers will see when they pull up to your home is its exterior, so it’s important to make a good impression.
Mow the lawn, trim the hedges, and clear away any debris. If necessary, give the outside of your home a fresh coat of paint. These simple steps can go a long way toward making your home more appealing to potential buyers.
3. Use Creative Marketing Techniques
If you’re selling your home in a buyers’ market, you’ll need to get creative with your marketing strategies. Traditional methods like newspaper ads and open houses may not be as effective as they once were. Instead, you’ll need to find other ways to get people interested in your home.
One option is to market your home online. There are several websites and platforms that allow you to list your home for sale, and many potential buyers begin their search for a new home online.
You can also use social media to reach a wider audience. Posting photos and information about your home on platforms like Facebook and Instagram can help generate interest in your property. With a little creativity and effort, you can successfully market your home in a buyers’ market.
4. Be Prepared to Negotiate
In a buyers’ market, buyers usually have the upper hand when it comes to negotiation. As a seller, you need to be prepared for this and be willing to make some concessions, such as accepting a lower price or offering more flexible terms. However, don’t just give in to every demand the buyer makes.
It’s important to stand your ground on the things that are most important to you. For example, if you’re not comfortable with the buyer’s financing contingency, don’t be afraid to push back. Ultimately, the goal is to reach an agreement that is satisfactory for both parties. With a little preparation and flexibility, you should be able to do just that.
5. Be Patient
Selling a home can be a lengthy process, especially in a buyers’ market. Don’t get discouraged if you don’t sell your house straight away—it may just take some time (and maybe a little extra effort) to find the right buyer. Be patient and stay positive, and eventually, you’ll find the perfect person (or family) to purchase your home.
In the meantime, keep your home in show-ready condition so that it’s always ready for potential buyers to tour. If you’re curious about what you can do to speed up the selling process, talk to your real estate agent—they’ll have plenty of useful tips and advice.
Get a Great Price for Your Tennessee Real Estate Today
As you can see, there are many ways that you can increase the likelihood of selling your home even in a tough Tennessee real estate market. Keeping this in mind will ensure that you get a great price for your property and sell it as quickly as possible.
Are you interested in selling your home for cash? Then get a free quote from We Buy Houses, Memphis! We’re happy to help and answer any questions you may have.
Alternatively, you can call us on 901-250-0100 to request a cash offer.