Tips For Selling Your House in a Slow Market

May 7, 2022

Tips For Selling Your House in a Slow Market

The real estate market is still recovering from the ravages of the COVID-19 pandemic. The outbreak of the pandemic and the worldwide lockdown restrictions led to a steep decline in sales and purchases in the industry. Even in a very slow market, Houston, Texas continues to be a very active real estate market in the country.

study by StorageCafe reports that Metro Houston ranks second in the U.S. when it comes to real estate activity both in commercial and residential sectors over the last 10 years. Houston is a primary destination for new people moving to Texas. The Houston real estate market has moderated a little after record climbs in 2021, although home sales and prices continued their climb in January.

All across the region, single-family home sales last month increased by almost 7% from the last year with increased activity at the upper ends of the market, as reported by the Houston Association of Realtors. The overall sales of all homes, including condos and townhomes, also increased by 13%.

All that being said, being a property owner, you would want to sell your house fast and also get the best value for your house. The real question here is:

“Is that possible in a slow market?”

A lot of people ask this question to their Houston real estate agents. In this blog, we have answered the question in vivid detail. Here’s all you need to know if you want to sell your house fast in a slow market.

How To Know If the Market Is Slow?

Real estate agents, as well as expert analysts, have forecasted a slowdown in sales and price appreciation of real estate in Houston in 2022. Here are a few signs when you will know that the market is slow.

  • An increasing number of real estate properties are up for sale.
  • Consistent fall in the price of real estate properties.
  • Real estate properties stay on the market for longer durations.
  • Investor activity in the regional market is minimal or lesser than usual.
  • Asking a property seller agent about the state of the market will also help you get a comprehensive idea about the same.

Effective Tips to Sell a House in A Slow Market

Selling a house in a slow market is not easy. Although, there are a few important considerations to make sure it happens. Here are the most important things to know and do when trying to sell a house in a slow market.

Clean and Stage Your Property: Good Presentation Is the Key

Making an impression on potential buyers during house visits is important to get a house sold. This starts off with a great presentation of the property. A properly cleaned and professionally staged property would obviously be more preferable to a buyer than a property that looks untidy and unorganized. In fact, 83% of 900 real estate agents in a survey said that a staged home sells much faster than an unstaged house.

Finding a reliable Houston real estate agent

The real estate market, especially in Houston, is extremely versatile and dynamic. A reliable Houston real estate agent can offer the best advice, guidance, and assistance to get your property sold at the best possible price. With experience in the industry and in-depth knowledge of market mechanics, they can get the best deal in the least possible time, even in a slow market.

Pricing competitively

If your property is overpriced based upon the trending or current market prices, it becomes very difficult to get it sold, especially in a slow market. This is where you can take help from a 2 percent real estate agent. They take very low commissions and can also advise on the appropriate value and pricing of the property based on demand-supply trends, property type, size, and other factors in the market.

Establish worthy selling points

Having some solid selling points can go a long way to getting your house sold in a slow market. Find something that makes the property exclusive and different from other similar properties in the region. It can be historical architecture, a huge backyard, bay window spaces, or anything that makes the home unique. It will definitely attract more buyers and even help get a better price.

Mistakes To Avoid When Trying to Sell a House in A Slow Market

  • Going for “We Buy Houses For Cash” companies.
  • Negligent maintenance.
  • No or minimal house prep.
  • Overpricing the house than market standards.
  • Unprofessional photographs.

Ending Note

When it comes to selling a property, professional help can go a long way, especially in case of a slow market. The best way to go is to consult with a trusted Houston real estate agent. This can be a very effective and profitable decision to sell your house in a slow market. That being said, if you need a reliable property seller agent who charges low commissions, then Jay Thomas Real Estate Team is one of the most trusted and preferred names in the entire Houston, Texas region.

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Hello! I’m Jay Thomas, a REALTOR in Houston, Texas. Chances are you and I share a similar passion, Real Estate! I also have a passion for building businesses, working out, inspiring others, technology, sports, and people. Connect with me on Facebook and Instagram!

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