How Some People Sell Homes Even In a Recession

A few days ago a business associate was quizzing me to see what I know about how to sell my home in a recession. I asked him if he was looking for some advice and when he admitted that he needed to sell his home soon I told him to relax. He knows I buy and sell homes regularly and perhaps he thought that the way I go about selling a house would be different in a recession compared to a healthy economy. What I told him surprised him, and it may surprise you, too.

When I was first learning how to sell my home, any home that I'd purchased to re-sell, I realized that it is no different in a robust economy than a slow economy, not really. What is the same is the real goal. The goal is finding one buyer who loves the home and is qualified to purchase it. The house does not have to appeal to throngs of buyers, it surely doesn't have to win a popularity contest. It just has to be the most attractive home of all to one buyer who has the desire and the credit to purchase the home.

So I realized that finding a buyer in a recession is not really so different in a slow economy than any other time. There may be fewer people who are qualified to buy my home in a slow economy, but I am still only looking for one buyer. Just because there may be fewer buyers in the market to buy my house doesn't mean I won't find the one buyer who will fall in love with it. It just means I may need to become more creative in my thinking about how to sell my home, meaning how to find just the right buyer at the right time. Finding the one right buyer is simply a process of looking in the mirror.

That's right, the mirror! I was the buyer once upon a time and now I'm the seller. All I have to do is think back to when I bought the home and remember why I bought it. Did I like the kitchen cabinets or the fireplace in the living room or the built-in garage storage shelves? I actually make a list of what I especially liked about the home and use that list to find another buyer.

So that's what I told my associate to do as well. I told him to go home and really look at his home and remember why he fell in love with it in the first place. Then I told him to use that information to advertise his home for sale in order to find a new buyer.

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