Another Q&A from San Jose Mercury News: Now that we have to sell in this cooler market, there must be techniques to reduce the likelihood of buyers demanding repairs and/or lowball offers. Any suggestions?

lw4n6581.jpg Excerpted from the San Jose Mercury News, SJMN

Market Wise Column Saturday, May 10, 2008

Q: We bought our home during a hot market and were told if we wanted to be taken seriously, we'd have to pay over list price and have an as-is, non-contingent sale. Now that we have to sell in this cooler market, there must be techniques to reduce the likelihood of buyers demanding repairs and/or lowball offers. Any suggestions?

A: Plenty. Inspect the property thoroughly and repair as many items as possible. Consult an appraiser to help with pricing and enlist his/her ideas for simple improvements that would add to its salability, such as flowers, paint, carpet, etc. Consulting a stager for one hour pays huge dividends, too. Prior to going on the market, post all inspections, repairs and improvement online; this is the disclosure package. Hiring a licensee with an outstanding marketing plan and deft negotiating skills is an absolute must. Then you ll be in a better position to attract quality buyers who typically retain the services of talented licensees who recommend well-qualified inspectors. Your property and preparation will be a breath of fresh air to the best buyers and their reps after they visit the homes of the ill-prepared who are on their second or third price reduction.

by Pat Kapowich, Broker/Owner

Market Wise Column Saturday, May 10, 2008

Do you have a question for the new real estate Q&A Market Wise column in the SJMN?

If so, please email them to: pat@SiliconValleyBroker.com