You need to move to another city because of work. Or you need to move to a smaller house in order to afford the cheaper mortgage. How do you sell your house fast in the property market so that you are not stuck in your current situation? Here are some ideas for you.
Do You Need to Sell Your House Fast?
While you might think that it’s just about advertising and waiting for buyers, selling a house can be quite stressful. This decision is not easy, so you need to prepare for what comes after placing the ad.
If you are considering selling your home, see this link for signs telling you it’s time to move on.
Tips on How to Sell Your House Fast
The real estate market has its ups and downs. Market trends change from day to day. Besides following them all, you need to know how to adapt to them in the best possible way without being at a loss.
In order to sell your house fast, you either need a miracle, luck, or a good plan. It is apparent that the third option is the most realistic of all, and that it depends on you.
You have to use your chance at the beginning of the sale, for the first few weeks. This is the time when buyers will be most interested in the advertised property.
Honestly, the longer your house stays on the ad, the less interest there will be. Don’t let that happen by being open to making some compromises.
Here are some tips.
Choose the Best Time for the Sale
When selling a house, you need to observe some psychological aspects. Keep in mind that many things can influence a customer’s decision. But, as you are not clairvoyant and you do not know what a buyer particularly pays attention to, try some general ‘tricks.’
For example, advertise the sale of your house in the spring or summer. This period is the best timing for selling real estate as people have the most time then – it’s the vacation season.
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While the weather is relatively warm, people spend most of their time outdoors. Sunny days make them more relaxed and relieved. That’s when they rather decide to tour the houses and, eventually, to buy them.
Although the period between Thanksgiving and New Year is the holiday season, this is generally the worst time for advertising the sale.
Apart from the cold weather, people are in a kind of holiday euphoria and want to come home as soon as possible. Instead of house hunting, they would like to spend time with family. Touring real estate is certainly not their priority at this time of the year.
Take Time to Form an Attractive Price
Selling any property fast and at the price you set is equal to science fiction. If a fast sale is important to you, you need to be prepared for some compromises.
Of course, this doesn’t mean that you post a price that is too low. This can be repulsive to buyers, almost as much as a very high price.
The basis for price formation is the real estate market.
Look at the rates of houses similar to yours (number of rooms, location, and equipment) and let this be your starting point.
Then, you have to decide whether your price will be slightly below or slightly above average. If you decide on a higher rate, you must have solid reasons for that. Be sure to point these advantages out to potential buyers (for example, you have a jacuzzi or a terrace with the ocean view).
Also, you have to be willing to negotiate the price to some extent.
Use Some Psychology
Try not to set a round figure for your property (for example, $ 300,000). The price of $ 299,000 sounds more tempting. The $ 1,000 difference may not be significant, but that’s one of the concessions that will make you sell your property faster.
Know how low you’ll go with the price. You need to be flexible if sales speed matters to you.
For example, if a lot of time has passed since real estate advertising, and there are no buyers in sight, it’s time to lower the price. That decision can bring buyers to compete around buying your property. In turn, that can make your house’s value to increase again.
Let the First Impression Be Great
Nowadays, visual identity and aesthetics have become the most important factor of any sale. Potential buyers first see the appearance of your home, both outside and inside, and only then pay attention to some other things. Never forget – there is no second chance for a first impression.
Make your house impressive at first glance. If there is any flaw in the appearance, many potential buyers will just pass by. Repair any visible defects, or accept the fact that these can significantly lower the selling price.
Don’t forget the yard either, because it completes the look of your home.
Give priority to repairing the kitchen and bathroom. These are rooms you have used often and new owners are likely to do the same. Make some minor upgrades to restore the old shine to these places.
For example, you can polish tiles, paint carpentry, reglaze a bathtub, etc. These are minor interventions with a good return on investment.
Refreshing the facade, painting the interior walls, repairing roof tiles, and similar interventions on your property may require a bit more money.
But it is these investments that will help you settle the real value of your house. When the house has no flaws, and when the potential buyer initially has no additional investment, there is no reason to bargain and lower your price.
Depersonalization of the House
When you sell a property, it means that you have already found a new home or are looking for one.
Since a potential buyer can show up at any time, it’s a good idea to be prepared to get out of the house (if you haven’t already). The good move is to rent warehouses or portable containers where your belongings will be until you move into a new home.
If you are still staying in the house you are selling, make it more open to buyers. That means, in a way, you have to depersonalize it.
Remove all personal stuff and anything directly related to you from visible places. Research has shown that buyers will find it easier to decide to buy if they ‘connect’ with the property, i.e., if they feel at home there.
Don’t put your personal items in closets. Since this storage space is also part of the property you are selling, it is good to show them to potential buyers. Without your stuff in them, the closets will seem more spacious.
Adapt to Buyers
You have to adapt your desire to sell the house to your capabilities. It means you need to set aside time for potential buyers and guide them through your property.
In fact, you need to be available whenever customers want. You have to follow buyers’ schedules in terms of timing for house touring and inspection.
See the page below to learn which things in your house could possibly distract buyers from pursuing the purchase:
- The property must be available for seeing throughout the day. But keep in mind that many work during the day. Evening visits will suit them better to tour your house, or even on weekends.
- Plan your obligations to these terms, or be prepared to eventually reorganize them.
- Try not to schedule business meetings, vacations, or doctor’s appointments right after announcing the property sale. Potential buyers can show up at any time, and you, as a seller, will be expected to adapt to them.
- If you have urgent obligations, be sure to have some of your housemates or people you trust during the house tour.
In case you don’t have time to dedicate to the fast sale of your home, you should leave it to the real estate professionals.
For the commission you will pay, realtors can spare you a lot of trouble. You can be sure that they will do their best to sell your home as quickly as possible and at the best possible price.