A quick review of the basics of making your  home more likely to sell sooner rather than later is always a good idea, but now when the economic downturn has placed so many houses on the market. Here are five key points to pay attention to as generally recommended by top real estate agents.

Step 1: Before you put your house on the market, make your house “buyer ready”. Whatever is within your control (i.e. tidy rooms with cleaned floors and polished furniture) will give prospective buyers the impression that the house is in good condition. If you can afford to repair damaged walls or fix appliances, then do so. Chances are the cost of fixtures will be negotiated out of the market price before sale.

Step 2: Don’t appear desperate to sell. Buyers may perceive there is something wrong with the property in your haste to sell. Moreover, if the buyer can “smell the fear”, then you will have given them the power to demand rock bottom prices. Instead, tell or have your agent tell prospective buyers that you are planning to relocate. This highlights seller urgency, but in a way that doesn’t put the buyer in a position to take advantage.

Step 3: Know your house’s best features and make sure either you or your agent highlight these attributes to prospective buyers. Avoid using select words, like “bargain” to advertise these features or the home as a whole. It cheapens the property and its attributes, and assumes the buyer is only purchasing based on price, rather a multitude of components, like quality or accessibility.

Step 4: Know the value of your home. Overpriced properties will take longer to sell, and will most likely result in a decreased asking price. While underpriced properties may result in a shorter sell time, it reduces the amount of money you will receive and can put toward your next home. Therefore, take into consideration how much you paid for the home, how old the house is, whether the property features  any upgrades or add-ons, and the prices of other houses nearby, in the neighborhood or of similar feature.

Step 5: Once you know the value of your home, set a competitive asking price (i.e. one marginally lower than comparative properties, but not so low as to declare it underpriced.) Buyers will perceive your property as the better value for money

From getting your house “buyer ready” to setting a competitive asking price, the aforementioned five steps are crucial to selling your house in the depressed US housing market.