Sellers - What to Do In a Buyers Market

Currently in the SWLA Area there are over 2000 properties listed for sale. So what is a seller to do with so much competition? Most buyers today are well qualified and looking for a good deal. Getting the most for your home is still possible. Here are a few simple ways to enhance your home to buyers.


• Curb Appeal – This is the first thing buyers see. An unkempt yard is not something that is going to invite buyers into your home. It’s like Christmas morning. Wrapped gifts under the tree get you excited as they open their presents. It makes you want to know what is inside. Treat your home like a well wrapped gift. Make it inviting for people to come inside.

• Clean up – As with the outside, treat the inside the same way. Before each showing, pick up any unnecessary clutter. Something as simple as cleaning the windows can make a huge difference in how your home is viewed.

• A Product – Time to detach yourself from your home. When you sell your home you are selling a product that is in demand. Think like a buyer.

• Sense – Vision is only one sense on which we rely. Make use of other sense when your home is being shown.

o Smell – use some of the motion sensing fragrance dispensers that automatically go off when someone passes.

o Sound – Play some soothing music. Some sellers bake cookies and leave the plate and a note saying “Thank you” for viewing their home.

o Vision – Clean up and take down as many personal photos as you can. Buyers like to put themselves in the home they are viewing. If they see too many photos of you and your family they will see you in your home.

• Closing Costs – Most buyers these days are asking for closing costs to be paid by the seller. So beat them to the punch! Offer to pay 2% of the closing cost from the beginning. This will be a great incentive for buyers to look at your home.

• Expect to negotiate – When offers come in there will be some negotiating to do. Not every offer will result in a sale. You know what you want for your home, so do not counter the first time at your bottom line.

Being a little creative can go a long way in making your home be the first that a buyer thinks about.

Can you sell your home in a buyer’s market? ABSOLUTLY!

Mortgage Shopping and Knowing the Basics

Homes can be financed with loans from banks, savings and loan institutions, credit unions, private mortgage companies, or state government lenders. Take time to shop around as different lenders will likely offer a range of loan types, interest rates and loan fees. There may also be local programs to help finance a new home.


Most home loans are made in 30-year and 15-year increments. The principal part of your loan is the amount you actually borrow. Interest is the payment you make to the lender for the money you borrow. Most home loans also include homeowner insurance and property taxes.

Mortgage Checklist:

• Social security card copies

• Drivers license copies

• W-2 forms for the past two years

• Recent pay stubs

• Copies of checking and savings account statements

• Asset documentation

• Salary verification

• Credit card account numbers and balances

• Written explanations for any late payments, recent credit inquiries, collections, judgments or liens

• Income tax statements

• Corporate or partnership tax returns (if applicable)

• Gift letter if any of the funds (such as the down payment or earnest money) are being given to you by a family member

• Current landlord’s name and contact information (if you rent)

• Current and Previous Address



Need a referral? Call Rebecca Melancon at 337-842-9250