According to Kendra Todd, the first and only woman to win Donald Trumps “The Apprentice”, there are 3 practical tips home sellers should heed when the real estate market turns soft. They are:

1) In areas where housing supply exceeds demand, think hard about if you really need to sell. Don’t get so upset by daily market reports of falling prices that you try to unload your property for a long. Repeat after me: real estate is cyclical. Prices, unlike the South, will rise again. Consider a longer-term exit strategy, like renting out the property. The rental market has become stronger as interest rates have risen. Being patient and finding creative ways to delay selling your property will help you in the long run.
2) If you MUST sell, focus your money and effort into creating curb appeal. Curb appeal alone can sell a house. You don’t have to follow conventional wisdom that says you must dump tons of funds into redoing the kitchen or bath. The number-one feature of a home in terms of cost versus effect on salability is front yard landscaping. Lay down sod, plant flowers, paint, and put in a flagstone path.
3) Be realistic with your goals for price and timeline to sell. Houses in much of the country are NOT selling at asking price and are staying on the market longer than in recent years. Many sellers have not yet come to grips with this new reality. They’re asking high prices, then reducing their prices multiple times before pulling their homes from the market in disgust. Don’t set yourself up to fail. Hire a good Realtor and listen to him or her about price. Set your price aggressively compared to your competition and come up with creative incentives to attract a buyer, such as sharing some closing costs or including some high-quality furnishings in the sale.

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