The current news is that prices are down and there are deals out there…. Yes, there are! There are tons of properties on the market these days in every price category, so how do you tell the world you really need to sell-and get people through the door when you have to sell? TIPS to get BUYERS IN THE DOOR when you have to sell... 1-Look at similar properties currently on the market in your marketplace. So, if you have a one bedroom condo on the upper west side, look at 5-10 properties that are competitive. Most people do not do this- it's a big mistake because they don't fully see and understand what other sellers are offering. Have your agent track those properties...how long they have been on the market and have they had price changes. Being competitive is key in this market. 2-Make your property look better than the competition. Now that you've seen what the others are offering...be objective and see what you can do or change to make your place look better than all the others. Here are some tips... 2a-Redo the floors 2b-Paint, spackle and scrub 2c-De-clutter everything including closets and remove all the nik naks and photos (the less personal, the better) 2d-Change old dark blinds, rugs and curtains to new bright ones 2e-Update furniture-people understand "catalog ready apartments", so if your furniture is tired or dated it's time for a change- West Elm and CB2 are affordable to achieve this change- we are all on a budget these days. The good news is you can take it with you! 2f-Update appliances (it’s amazing how stainless appliances can make an old kitchen look new- for a lot less than you think). 2e-Hire a stager, such as Jill Vegas to spiff the place up...you'll get bids in no time! 3-Price your property BELOW the competition. Understandably many people have a hard time with this. Even in this market if its a deal, the property will get more than one bid or be bed up so don't worry...money will not be left on the table. Want to be extra sure? Call me- I am seeing this happen firsthand! 4-Pay a higher broker fee. Many of you may not be want to hear this but it's true....in a market where agents are working more than 2-3x harder to put deals together, and where many are falling apart, this added incentive will trigger those agents to look out for your property. There's a reason several of the high end new developments offer 7 or 8% fees...they know agents put together over 90% of the deals and they feel its well worth it- or they wouldn't have offered in the first place, right? 5-Listen. Follow the advice of professionals in today's market to get the best results. That's what they are there for! One of the biggest frustrations my customers face is that they do not get good results because they have not taken my advice. After being in the business 9 or so years, having bought, sold, am a landlord and leased myself, I can say I know a thing or two about real estate...even enough to write a book too. The value of a good agent puts money in your pocket, saves thousands and is designed to make your life easier and benefit from all they have experienced. So-although we don't like to follow the doctors orders, we should because it's best for us! Just look into a buyers mind... Buyers who look for deals give lowball bids on ones that looks a bit shoddy. It's not their fault some sellers didn’t take the time to be competitive in today’s market! They can see that those details may not be as big a deal or cost as much as the other buyers perceive-but will take it at a reduced price. Don't let this be you! Want to hear more? Email me at LDM@corcoran.com for more tips and strategies...if you want to be SOLD instead of on the market! Warmest Regards, Laura Denise Milkowski, Christina Prostano, Michael Beam
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