How to sell your house fast
There are a few things you can do to speed things up if you want to sell your home as quickly as possible. Here are some quick sell strategies and options to consider.
Find the best agent
If you choose to hire a real estate agent, be sure to make the effort to find the right one for your situation. A good agent will give you valuable advice that can help you get the best price for your home and ensure that the sale goes well and quickly. An inexperienced can slow down the process.
According to Kevin Bazazzadeh, founder of Houston-based home-buying company Brilliant Day Homes, a best practice to help find the right agent is to ask for references. This will help you find someone you can easily work with. “Knowing their work history will tell you about their work ethic and how they communicate and negotiate with clients,” he says.
It can take around 76 days from listing to closing if you’re working with an agent, according to data from Redfin and Ellie Mae. On average, it takes 18 days to receive and accept an offer after signup, and then another 58 days from offer acceptance to complete the transaction.
Sell to an iBuyer
iBuyers are real estate technology companies that buy homes online. You provide iBuyer with your property information and it uses an algorithm to make an offer that you can accept or decline.
With an iBuyer, you may not get as high a price as with a traditional listing, especially if there are competing offers. But the process is generally smooth and quick. Selling with an iBuyer can take as little as a few weeks from start to finish.
If you want to avoid paying fees to an agent or getting a low offer from an iBuyer, you can put your home up for sale by owner (FSBO). If you know what you’re doing, it can speed up the sales process because it takes the hassle out of waiting for someone else to do things.
However, this process involves a lot more legwork, as you won’t have the help of an agent. In most cases, working with an agent is worth it. They can help you get a higher price for your home while getting things done at a faster rate than you could on your own.
If you’re really pressed for time – or money – and need to sell ASAP, there are things you can do when pricing and listing your home to help attract offers. Here are some aspects to consider.
Fair market value
One thing that is very important to know before listing your home is its fair market value. Your agent can help you look up comparisons of similar homes in your area to get an idea of your home’s value.
If you are looking to sell quickly, try to price your home at or just below its value. This will get people to bid right away – and can even help you get a better price by starting a bidding war.
Sold as is
If your home isn’t in great shape and you don’t have time to make repairs or updates that might help you fetch a higher price, you can put your home up for sale as is. You’ll likely have to accept a lower price for an as-is sale, but it may attract interest from property investors and others looking to buy a fix, meaning it could be snapped up quickly.
Consider your local market
To sell your home quickly, it is important to determine whether you are in a buyer’s market or a seller’s market. In a seller’s market, you won’t have to make many concessions because buyers are at a disadvantage. This is where most of the country is right now, given today’s low housing inventory. In a buyer’s market, however, you may have to give up something to ensure your home is bought quickly. This may mean listing it at a lower price or taking other steps to generate interest.
Consider sales incentives
Sales incentives are a great way to attract more potential buyers, especially if you’re in a rush. For example, you can offer credit to pay the buyer’s closing costs to make the transaction more affordable. You can also offer to sell with no contingencies on your end, such as a contingency that you find a new home before closing the sale. If your home is older, you can also offer to include a home warranty, which covers certain repair costs if problems arise within a given time frame.
The staging of your home is important both for selling your home quickly and for getting higher offers. Effective staging helps buyers see themselves living in your home and how they can use the space. Although staging can cost money and take time, it is worth it.
According to data from the National Association of Realtors, the average cost for a staging service in 2021 was $1,500. But many agents have reported that sale prices for staged homes have gone up 1-5%. On a $250,000 home, a 3% increase equals $7,500, earning the seller a huge return on that investment. In addition to getting a better price, over 53% of real estate agents noticed that staged homes also stay on the market for less time, which equates to faster sales.
Don’t overlook the value of a good informative listing description and professional online photos, either. They are also essential tools – the more information potential buyers have, the better.
Be aware of these tactics and scams
Selling a home can be stressful, and if you’re really in a rush, it’s all too easy to fall prey to real estate scams. Scammers use the promise of quick and easy money to find brands, targeting those who may be desperate and emotional.
A common thing to watch out for are “we buy houses for cash” signs posted around the neighborhood. There are many legitimate companies that buy homes for cash, usually fixing them to flip or rent them out, but they generally won’t advertise with a cheap sign posted on a street sign or telephone pole .
It is important to do due diligence on any potential buyer, especially if there is no real estate agent involved. Listen to your instincts and don’t sign anything until you’ve had a chance to review it with a lawyer.
More tips to sell a house faster
If you’re looking to sell your home fast, consider these tactics as well.
A thorough cleaning can make your home more attractive to potential buyers. Hiring a cleaning company before staging your home can give them an extra boost to help you get more deals, faster.
Many buyers are looking for a turnkey home that has few issues to deal with. If there are minor repairs you need to make or small updates you can do to make your home more attractive, doing them before listing can help you sell faster.
Don’t neglect the exterior of the house! The exterior is the first thing buyers will see, so you want it to look welcoming and have good curb appeal. Even small things like mowing the lawn or planting flowers can have a huge impact on how someone perceives your home and how many offers you receive. Here are some other easy and affordable things you can do to increase curb appeal:
- Put a new coat of paint on the front door
- Clean windows
- Upgrade mailbox or light fixture
- Tidy up the porch and driveway
If you’re looking to sell your home quickly, it’s important to be realistic. You will probably have to trade something in exchange for speed. However, if you follow the best practices listed here, you can help make your home attractive to buyers, speed up the selling process, and (hopefully) help you get a higher price too.