Does the Home Sale Slump Have You Stumped? Close the Deal With Expert's Tips

Real estate expert gives tip for selling your home in a down market.

ByABC News via logo
February 25, 2010, 6:39 PM

Feb. 26, 2010— -- New home sales are at an all-time low, and the market isn't expected to recover anytime soon.

With the housing market so slow, homeowners who have to sell -- perhaps to move for a job or because of a looming foreclosure -- may not see much interest in their property. If there is interest, buyers may offer considerably less than expected.

It's a tough situation, and it places people under enormous pressure, but it's not impossible.

"Good Morning America" spoke with some of the country's top real estate brokers, including Gary Keller, the author of the best-selling "Shift: How Top Real Estate Agents Tackle Tough Times."

Keller explained how people can sell in a buyer's market.

"If a seller wants to sell their home and say goodbye to it, the buyer is going to have to perceive it as a good buy," he said.

Keller is the chairman of Keller Williams Realty Inc., one of the largest real estate franchises in North America. He shared some tips for sellers:

1. Don't try to make money. It's counterintuitive for most people, but sellers will do better if they don't ask for too much money. Listing a home at just below what a similar home in the area sold for will increase the odds of closing the deal, he said.

2. Don't be lazy. Even though buyers may be looking for bargains, your home shouldn't look like a warehouse sale. Because presentation matters, sellers should get rid of any accumulated clutter. Take the magnets off the refrigerator, take down photos, open windows and take trinkets off bookshelves, Keller said.

While basic is better, Keller pointed out that some photos may help show a home at its best. For example, Dennis and Josephine Hahn's real estate agent put together a photo album of the couple's New Jersey home during various times of the year. The album showed the home when the flowers were in bloom and when the swimming pool was sparkling.