4 Ideas for Selling Real Estate in a Slowing Market

The CBS Early Show interviewed Wall Street Journal reporter June Fletcher, who covered four helpful ideas for selling your home.

1. SET YOUR PRICE REALISTICALLY
“Look at what other similar houses in the neighborhood are selling for and then set your price at 10 percent under the market. . . This is a counterintuitive move,” she admits, but, “by setting your price 10 percent under the market, your home will get more attention. You’ll get more people looking at your home and you’ll create a sense of urgency to get people to act to buy. This urgency, and a greater number of people looking at your home, drive up the price by creating a bidding war for it.”
2. MAKE MEMORY POINTS
“What is a “memory point”? Fletcher calls it “that special detail that is memorable and sets your house apart from the others. It makes your house memorable. Everyone has granite counters these days. So, you might want to install a concrete one for a fraction of the price. And, it will be distinctive. ”
3. USE UNUSUAL ADVERTISING MARKETS
“Think of publications that don’t usually have real estate ads, such as alumni magazines, hobby magazines, train magazines, places you wouldn’t usually think about, but where your ad will really stand out.”
4. ADVERTISE ABROAD
“No matter what happens in our economy, our homes are still a bargain to people in other parts of the world like Germany and Japan. Learn to think globally.”

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.