How To Sell Your House Fast
Economic fluctuation is an inevitable case – more so in developing countries with a volatile economy. Recessions heavily impact several industries that run the world (read more). The industries that took the hardest hits are industrial manufacturers, travel agencies, and real estate businesses. Its brutal consequences include a high unemployment rate, reduced economic activity, and reduced income.
Like much of the world’s industry, the real estate market also depends on the state of the economy. Its growth and recessions have a profound effect on real estate’s demand and supply. It is a huge factor to consider, especially when selling houses.
Like any business, listing your house is a risky endeavor. It is also a demanding and stressful venture. You cannot just sell it out of the blue. You need to be prepared and consider your emotional and financial capabilities. You need to make a lot of hard decisions and unpleasant options due to uncontrollable factors.
Luckily, there are still plenty of controllable factors that you can manipulate to your advantage. One example is whether or not to sell it on your own. You can opt to sell your house fast with Stewardship Properties or hire a real estate agent to handle your business. Both have their pros and cons and it is all up to you to decide which the best or most ideal option is.
Here are other smart tips on how to sell your property quickly.
- Your property’s condition
Your listed house’s current condition is a huge considering factor to the potential buyers. Declutter your home, have it cleaned, and make it attractive during open houses. Ensure that the furniture does not make the room look cramped. Clear out your makeshift storage unit in your basement or attic. Make room for some space and organize your household to avoid looking messy and small.
It is also important to properly maintain your garden or lawn. After all, first impressions do last. Your outdoor space is the first thing potential buyers will see, so make it worth their while.
- Maintenance and repair
Fix everything that needed fixing. Do not hide leaky faucets and faulty switches. One way or another, it is going to come and bite you during negotiations. It is better to be upfront and handle the problem head-on.
Inspect your house for problems that are in dire need of reparation such as termite-infested ceiling, growing mold at the bathroom, and peeling paint. It will cost you a fortune, but you can use it as leverage during price negotiations.
Also, third-party home inspections are essential during home buying and selling transactions.
It is better to fix the problems ahead of time so as not to be surprised during home inspections. Your potential buyer is more likely to close the deal knowing that your property is in pristine condition.
- Price it right
Another way to sell your property quickly is to price it right. Take your emotions out of it and price your home for what it is really worth. You can enlist the help of a realtor or the MLS database if you are doing FSBO (For sale by owner).
Research the local and national real estate pricing trends to give you an idea of the current market. You can also factor in the location of your property. Is it within a residential community? Or is it in the middle of a bustling, commercial street?
Another one is to make a comparative market analysis around your neighborhood. Find properties that resemble your lot dimensions and condition. Make sure that your price is along with the price range of nearby houses.
- The best time to sell
If you have done your research, you have probably come across the term “spring market”. In the real estate business, it means that spring is the best season to list your house. But according to Forbes, that is not quite the case (https://www.forbes.com/sites/taramastroeni/2020/01/22/when-is-the-best-time-to-sell-your-home-4-factors-to-consider/#710f36a13610).
According to a 2019 statistic, spring season produces a 40% annual sales volume compared to other months of the year. However, you need to consider your local real estate trend before factoring in the seasonality.
For example, if your locality is known for its ice rinks and ski resorts, then the fall and winter seasons would be the radical choice to list your property.
You also need to consider and think about your personal situation. If you need the cash immediately or need to relocate to another state, then you need to put your house in the market ASAP.
- Small upgrades
If you are in no hurry and have a bit of money in the bank, you can invest in small upgrades or house remodeling. You can do little adjustments and replacements to make it more attractive to buyers.
You do not need to overdo it, just the right “wow factor” to catch the hearts of your potential buyers and make them consider your property. You can repaint the rooms, improve your garden, and beautify your kitchen.
Also, prepare your house and make it comfy and homey during open houses. As much as it pains you, remove any personal traces such as family photos or mementos. Highlight your house’s best assets like lighting the automatic fireplace or turning on the stunning chandelier.
- Advertise it personally
Take high-res photographs of your house and feature its best qualities. You can hire the help of a home stager to rearrange your house and make it appealing from a buyer’s perspective.
After doing so, maximize the perks of living in the 21st century. Pitch your house and advertise it online through different media platforms and real estate outlets. Make sure to include a short caption that would reel in potential buyers.
With the right tools in place, media presence is a huge help to increase your chances of selling your property immediately. You only have one chance to do it, so make it worthwhile.
Aside from the help of your realtor, you can also spread the word through your friends and neighbors. You can also enlist the help of the homeowners’ association in your neighborhood.