Selling your house can be stressful, but if you are under a serious time crunch, it can be even more nerve-wracking. Whether you need to sell quickly for a new job, for financial reasons or because of a personal situation, there are a few tactics you can use to increase your home’s marketability, decrease your time on the market and attract strong offers. Here is our advice on how to sell a house fast.
1. Setting unrealistic prices to sell
Even if you’re selling in a seller’s market, where many buyers are competing for fewer homes, selling your house fast isn’t a guarantee.
But, One of the things that can speed your selling process is pricing your home competitively. Overpricing will only lead to more time on the market, and ultimately, you may end up selling at a lower price anyway — it’ll just take you a long time to get there.
You may even want to price your home a little lower than comparable homes in your area to drum up interest and cause a bidding war. The effectiveness of this strategy depends on the state of your local real estate market and how homes are selling in your area.
When setting a price, you also may want to consider the price points that the majority of buyers search for within your area.
2. Consider sales incentives
If you know your home is going to be a tough sale, either because of some unusual feature or because you’re selling in a slow market, it can sometimes be worth offering incentives to potential buyers to sweeten the deal. Examples include upfront repair or improvement credits, paying the buyer’s closing costs, or offering to include things like appliances, which aren’t always included in a sale.
3. Handle any quick repairs
While you don’t have time for major renovations, it’s still important to take care of any easy fixes that might deter potential buyers:
Patch up spots where paint is peeled or scratched.
Fix loose tiles.
Repair loose door handles.
Tighten leaky faucets.
You may also want to invest in a few minor upgrades that will make your home show better:
Apply a fresh coat of paint inside.
Install new hardware on kitchen and bathroom cabinets.
Swap out old or outdated light fixtures.
Purchase matching (newer) appliances.
4. To Hire or Not to Hire an Agent
Although real estate agents command a hefty commission—usually 5% to 6% of the sale price of your home—it’s probably not a great idea to try to sell your home on your own, especially if you haven’t done it before, So does it pay to hire an agent?
A good agent generally has your best interests at heart. They will help you set a fair and competitive selling price for your home, increasing your odds of a quick sale. An agent can also help tone down the emotion of the process by interacting with potential buyers and eliminating tire kickers who only want to look at your property but have no intention of making an offer.
Your agent will also have more experience negotiating home sales, helping you get more money than you could on your own. And if any problems crop up during the process—and they commonly do—an experienced professional will be there to handle them for you. Finally, agents are familiar with all the paperwork and pitfalls involved in real estate transactions and can help make sure the process goes smoothly. This means there won’t be any delays or glitches in the deal.
After reading all this, should you hire an agent? I think only you can decide what is best for you.
5. When is the right season to sell?
Believe it or not, there is a right time to sell during the year. Winter, especially around the holidays, is typically a slow time of year for home sales. People are busy with social engagements, and the cold weather across much of the country makes it more appealing just to stay home. Because fewer buyers are likely to be looking, it may take longer to sell your home, and you may not get as much money. However, you can take some consolation in knowing that while there may not be as many active buyers, there also won’t be as many competing sellers, which can sometimes work to your advantage.
You may be better off waiting. Barring any mitigating circumstances that may force you to sell during the winter or holidays, consider listing when the weather begins to warm up. People are usually ready and willing to purchase a home when it’s warmer.