5 Practical Tips to Sell Your House Fast in Any Market
Monty Schmidt, Nor Cal REI
Here’s the brutal truth:
There are WAY to many people that think selling a house fast is just about pricing right.
Some even say: “If I just post my house on the market and wait, it will sell fast”
If only it were that easy…
If you’re serious about selling a house FAST, there is a few things you need to do first to ensure that your house is the one everyone wants.
In this post, I cover 5 easy and practical tips, that will get you an offer in no time at all.
Let’s get into it.
How will you sell?
Basically you have 3 options:
1. Sell with an agent
2. Sell to an investor
3. Sell it yourself
Find a local agent who knows their stuff
If you’re selling it on the market, you should find a local real estate agent who has experience and is known for their sales skills.
- Get the highest and best price
- Average days on market can be 30-60 days
- Closing process dependent upon loan approval (in most cases)
Sell to an investor as-is – If you don’t want to hire anyone to clean the house, make repairs, or market the property for sale, another option is to sell the house to an investor. All you need is walk the investor through the house or just have a lockbox in place for them to come out to see it.
This can be one of the best options for those who have a house in major disrepair or need to sell it quickly.
- fastest and easiest way to sell
- cash close – no loans falling through
- You may get a lower selling price
“I’ll sell it myself”
You may just want to sell your house for sale by owner. And that ok too, however I wouldn’t recommend it.
If you’re not experienced in marketing real estate property, it can take much longer to sell a house than with an agent. A higher price isn’t alway guaranteed because of the smaller buyer pool.
So just be careful with this one.
- Avoid real estate agent commissions
- Mid to high price range sales price in most cases
- Can take longer to sell
- Requires some basic real estate know-how
- You do all the work yourself
1. Properly Prepare
If you’ve decide to sell with a real estate agent, there are a few things you may want to consider doing to the house to increase your chances of getting the highest price.
Make any necessary repairs to the property to bring it to market condition – If your house needs some updating, make sure it’s done before you list the property. Anything that comes up on the inspection report will be used to the buyers advantage to negotiate the price down. Start by getting multiple bids from licensed contractors in the area and choosing one with great recommendations for work quality.
Hire a cleaning lady – Since you’re no longer living in the house, it’s worth getting it cleaned professionally so that everything will look tip top when buyers walk through.
Stage the house – It will cost you a few hundred dollars to get your property staged nicely, but it makes a huge difference in how quickly the house sells. That’s because it helps potential buyers imagine themselves living in the house before they buy it. It’s kinda hard to do that with an empty box.
2.The List It and Forget It Method
Have you heard of the agent who used the list it and forget it method to sell a house in 2 weeks?
Neither have I…
Gone are the days when a bold “for sale” sign on your yard is all you needed to sell a house. In this day and age most, if not all, home buyers start their search online.
On top of your “for sale” sign, your agent or you should go all out in your marketing. A good agent will know how to do this.
Make sure your agent has a wide network to market your property too and knows how to get exposure for your property before you hire them.
If you’re selling on your own:
The idea here is to get all the exposure you can at all levels. Start with friends, family, and neighbors. There has got to be one of them looking for a house or knows someone who is.
There are a lot of For Sale by Owner websites that you can list your house in, and other ad sites such as Craigslist. Select the best among the quality pictures taken and post them in all the relevant sites and update them when necessary. You can also use your social media accounts to reach the highest number of people.
One more thing..
With everything – pictures and marketing channels – in place, there is one more picture you need; something that will make your buyer feel like they are already live in your house.
An awesome description.
It’s like the sizzle to the steak, the taste of what it means to live in your house. Make sure you or your agent have a high quality description full of keywords that help sell houses.
You should follow up your expertly-taken photos with descriptions of how amazing your home and area are, not leaving out facts on shopping, schools, and/or any events that happen around there.
2. Hire a professional photographer
Most potential online buyers are essentially falling in love not with your house, but with the pictures. It is not uncommon to see very beautiful and well-priced houses going unnoticed because of using low-quality and/or poorly-taken pictures.
It is for this reason that the services of a professional photographer, and not just a high-quality camera, are invaluable. Only then can you get the best angles, lighting, and views that will sell your house fast. Some photographers also offer drone photography if you want to capture the beautiful surroundings around your house.
Since you are targeting much more than the local-area folk, promoting the neighborhood goes a long way to sell your house fast. It is also on this front that professional photographers come in handy. You should have him/her highlight the amenities, public services, entertainment and nightlife, parks and other recreational facilities.
Not only won’t you expend the energy and time going around the area, but you also won’t have to explain to every friend you meet why you are taking pictures of the neighborhood.
3. What is the “right” price?
Take a step back and think like a buyer; knowing all the strengths and weaknesses of your house, what is the lowest price you would be willing to pay for it? After that, research the general selling prices for comparable homes, preferably in the same neighborhood. Then set the price above your minimum, and around the general market price.
Several sellers, especially those who have lived long in the house, set too high a price then lower it later when it refuses to sell.
That’s a big no – no.
Everyone sees the lowered price and ask themselves:
Why did they lower the price? is there something wrong with it that no one wanted to buy it at that price? Could there be other things wrong with it?
Many times potential buyers will see an inflated price and think that a seller is either not willing to negotiate or is not serious about selling.
Remember, the goal here is to sell your house fast and easy so your prices should be competitive.
The chances of home-buyers getting into a bidding war for a property that has been on the market for long time – even if the price has just been lowered – are nil. The best activity you are going to see will be concentrated around the first week or two,
When the bid is too low
Just as sellers, buyers have a tendency of bidding very low in the hope that your prices will meet at the middle. Even if you consider it insultingly low, resist the urge to flat out reject it. Even the lowest of bids signal interest, and it is a long way from being a formal offer.
The proper approach would be to do a counteroffer, pointing to the reasons why you think your price is right. It is only by turning down the offer politely will the buyer feel comfortable while making a higher offer.
Time = Money
One of the biggest challenges you will meet is balancing your already full work-family schedule by showing the house.
You will notice that once you have listed it and begin to market it for sale, several potential buyers will start showing up with little to no notice. You may even be tempted to include “available showing times” section in your description.
While it may seem a good idea at first, keep in mind that the potential buyers may not be available during your selected times. This greatly reduces your showing times, and ultimately the number of offers you get.
The best approach here would be to take some time off, and making your house fully available for showing over the next say, two weeks.
You may be surprised to see your house off the market even before the duration ends. If it is not possible, a relative or trusted friend could do it for you as a favor for a small compensation.
In a shell
With these few handy tips, not only will you sell your house fast at your desired price; you will also avoid renegotiation. If the first open house doesn’t spark any interest or offers, be patient. Just revisit your price and cast your marketing net farther.