Everyone talks about the home buying process and the difficulties that come with it. But seldom do we talk about the seller’s market. In today’s market with a wide number of sellers on the listing, you as a seller need to truly stand out to allure buyers into purchasing your property.
In addition to the current market conditions, the urgency to be free of the property due to financial demands, job opportunities and so on can lead to sellers accepting lower offers for their property. However, just because you want to sell fast doesn’t mean you need to accept low costs.
Here we have put together a few tactics on how to sell your property faster without incurring losses.
A) Know your market
The preliminary step to selling your house fast is knowing your market. Most buyers overlook the prices of other houses and do not analyze the value of their own property, committing a grave error. Not taking into regard the competition and the price at which other houses are being sold in the same locality can lead to understating or overstating of the price, thereby resulting in either receiving a lower cost for your house or house staying on the listing longer than expected because competitors offer cheaper prices. So, consider all the aspects of the market and settle on an appropriate price.
B) Find the right realtor
Once you’re done setting a price, begin your search for a qualified realtor. They can speed up your home selling process greatly. Ideally, they’ll have in-depth knowledge of the market and overall procedure. Realtors are also highly reliable sources for buyers so you’ll definitely get a good number of potential buyer leads from them. The real estate broker or real estate brokerage firm will make sure your house is being paid what it deserves, will handle the procedures for you and help you through each and every step. They also have connections with lawyers, home inspectors and designers, leveraging which you can sell your house faster, saving both time and effort.
C) Market your home sufficiently
For your home to be sold fast, it is crucial that it is visible and accessible to a huge population. Having a proficient realtor gets you halfway there but that might not suffice. Remember to market your house aggressively. You can put up advertisements in newspapers, utilize online resources, social media and so on. Make sure the advertisements have aesthetic photographs that lure buyers into visiting the house.
D) Make it presentable
Your house must have been designed to reflect you and your preferences. When a buyer visits your house, they should be able to visualize the space suiting their requirements. Therefore; it’s crucial that you declutter and depersonalize the space, giving the buyers enough scope to imagine the house as they wish. You can minimally renovate the space such that the visualization of buyers isn’t constrained but your house looks ravishing enough for them to hold their breath.
E) Fix deficits in your house
Over the years, your house might have certain defects which when noticed can lead to the buyer quickly losing interest. Additionally, even if the buyer decides to buy your house with the flaws, they’ll probably ask for a reduced-price deal due to the deficits. Therefore, it’s always a good idea to hire an inspector and get the erroneous sections fixed beforehand. A few things that can be fixed would be leaky faucets, loosened tiles, stains, dysfunctional appliances and so on. Once the buyer recognizes they have nothing to worry about, they’ll not hesitate to buy your space, thereby saving time.
F) Sweeten the deal
It is essential that you offer something that the buyer just hadn’t expected. In a highly competitive market; when buyers receive incentives, they are swayed away. Therefore, one of the ways to make a deal more attractive is sweetening the deal by scheduling visits according to their preference, agreeing to pay for repairs, offering a transferable home warranty and so on. You can also add in pieces of new furniture or add new cabinets to your kitchen. The choice of incentives will be subjective; so, consider what works best for your buyers and employ it.
G) Involve the neighbors
The role that neighbors play in pacing up the sale of your house is highly underestimated. Neighbors can inform their contacts about the sale of your house and get you potential buyers. Additionally, they can influence the visiting buyers significantly. Words of people living around can assure the buyers that the deal is indeed worth it.
If your property stays on the listing for long durations, there is a probability that the price received will be low; so, the sooner you sell it off, the better. Additionally to everything mentioned above, remember first impressions are truly lasting so be creative and turn on soft music, make the house aromatic, improve the lighting and most importantly, display a great demeanor. Buyers can make the decision of whether to buy your house or not within a few seconds when they walk through the door; put in your best effort to make these seconds count.