As a former Realtor, I know why houses sell quickly, and why they don’t. I will provide you my best tips to sell house quickly. There are certain reasons why some houses sell quickly, and why others don’t sell quickly.
I will explain to you the steps you should take, and what you should avoid doing.
I will also let you know how to realize as much money as possible from your quick house sale.
The Number One Reason Why Houses Don’t Sell
The number one reason why houses don’t sell is, the asking price is too high, and the seller won’t drop the price enough to make it appealing.
This may seem obvious, but many sellers have a set idea of how much their home is worth, and they won’t let the market dictate the correct selling price.
The reason for this is two-fold. Sellers have a very strong emotional attachment to their home, and the idea of parting with it for anything less than their pre-conceived idea of what it’s worth is unacceptable to them.
The other reason is plain old greed. Some folks want to get rich off the sale of their home, and they believe someone will come along that will blindly offer them their unreasonable asking price.
Sometimes the real estate market may not be as healthy as when they bought the home, and their expectations are unrealistic.
Many Realtors are afraid that if they tell their potential sellers that their idea of price is too high, it will upset them, and they will risk losing the listing.
So they go along with the seller and list the home for over market value, only to have to struggle with them later to lower the price, so it will have a chance of selling.
The Number One Reason Why Houses Sell
The number one reason why houses sell is simply that they are priced fairly or priced under market value.
Again, this may seem obvious, but it is not always obvious to sellers that have other ideas.
Buyers almost across the board want to feel like they are ‘getting a deal’. Just like sellers want to sell their homes for the most money possible, buyers want to buy their home for the least money possible.
Tips to Sell House Quickly
Follow these tips to sell your house quickly.
1. Hire a good Real Estate Agent. Don’t skip this step and attempt to sell your house yourself. If you do attempt a FSBO, or for sale by owner, you will miss out on at least 90% of the market.
A good seller’s agent will put your home on the MLS, multiple listing service, which is where all real estate agents go to find homes for their buyers.
In addition, the seller’s agent will tell all of the agents in his or her office, and will put the word out to their entire network of real estate related business people, and friends.
They will also advertise your home for you, have open houses, and place signs in your yard, and neighborhood.
You will have to pay the commissions but in most cases, you will realize a higher selling price, sell your home more quickly, have less liability, maximize your time, and have all legal paperwork taken care of properly for you.
2. Do Cosmetic Repairs You won’t necessarily have to do a lot to prepare your home for sale. But in order for you to sell your home fast, and for the most money, there are a few things that you really should do.
The good news is, these things don’t cost much money, or take a lot of time, but they will go a long way to improve your chances of selling quickly.
Make minor repairs. Fix what needs to be fixed. The idea is to make your home livable. Take care of things to make your house safe, and sanitary. If a step is loose, secure it.
If a room is in obvious need of paint, paint it. If the siding needs to be power washed, power wash it. Clean your home thoroughly. Declutter tables, counter tops, walls, and other surfaces.
Curb appeal is important. The first impression a buyer has is the outside of the house as they drive or walk up. Spruce up the yard, and the front of the house. Keep the lawn cut, the bushes trimmed, the leaves raked,
3. Do updates if needed If your home is badly in need of updates, or upgrades, and if you can afford it, and have the time, I suggest you start with upgrading the kitchen. You may have heard the saying, kitchens sell houses. This is absolutely true!
If your kitchen needs to be updated, it will be money well spent to update it. Whatever you put into upgrading your kitchen, you should easily be able to get back out again when you sell, and possibly more. A nice kitchen will also help you sell your home faster.
After the kitchen, you should upgrade the master bathroom, or main bathroom if there is no master, and then the lower level or basement to be finished, or partially finished.
4. Price your home slightly under market value. Your real estate agent will perform a recent sales comp for you, based on what comparable homes in your area have sold for, and come up with a price that you can expect your home to sell for.
There are other factors to consider when finding a selling price such as time of year, the spring is better than the winter, the state of the real estate market, and if your home has additional negatives to consider that other comparable homes don’t, such as a large hill to drive up that could present problems during the winter months.
5. Tell everyone you know that your house is for sale. Don’t rely entirely solely on the efforts of your Realtor. Chances are you have a large network of relatives, friends, and acquaintances. Tell everyone you know that you are selling your house. Call your family and friends.
Tell your coworkers. Use social media like Facebook, and Linkedin. These are all free methods to get the word out. Even if the people you contact aren’t looking to buy a house, they may know of someone who is, and your house may be just what they are looking for.
6. Don’t put limits on your Listing Agent Make sure that you allow your house to be shown whenever a potential buyer wants to see it. If your agent wants to do an open house on Sunday, let them. And don’t insist on being there when your house is being shown.
Would be buyers and their agents can’t relax when the owner is home during showings. Be prepared to leave your house for a few hours on short notice to allow for an unimpeded viewing. This can make a difference between receiving an offer, and not.
You Can Sell Your House Quickly
The number one reason a house won’t sell is that it is priced too high. Sellers get emotionally attached to their homes. They also let greed, and unrealistic expectations of what the home is worth stop them from receiving a fair offer.
The number one reason a home will sell is that they are priced fairly or under market value. Buyers want a good deal as much as they want a nice home.
Tips to sell house quickly are:
1. Hire a good real estate agent.
2. Do cosmetic repairs.
3. Do updates if needed.
4. Price your home slightly under market value.
5. Tell everyone you know that your house is for sale.
6. Don’t put limits on your Listing Agent.
If you follow these tips, you should have little trouble selling your house quickly.
Do you have a tip to help a house sell faster? Feel free to leave your comments, questions, or tips below. I will respond to you right away. Thanks for reading.