How Can I Sell My Home Quickly?
What do you do when you need to sell your house fast? Though low inventory makes it easier to make your house appealing to home buyers, high interest rates are making them choosier regarding seller concessions and the asking price.
How can home sellers navigate a tight home selling timeline and sell a home fast? This quick list will share some expert tips from Marketplace Homes real estate agents, solutions experts, and marketers.
How to Sell Your Home Quickly: Tips from Marketplace Homes Realtors and Marketers
To sell your home quickly, you must make it appealing to the local market, not risky for lenders, and a good value that passes the home inspection. This requires intentional coordination and various skill sets.
“I feel there is not one singular thing, but rather a healthy trinity between communication, accurate pricing, and marketing. You need to have great communication with your sellers AND any other party. You also need to have a price that satisfies the needs of your seller while making buyers feel like they are getting a bargain.” — Johnny F., Client Services
How to Sell My House Fast
Selling your home quickly ensures that you can make top dollar. Since your home isn’t sitting on the market, developing the stigma of a long listing time, fewer people will attempt to lower your price. So here are some tips on selling your home quickly from Marketplace Homes’ experts.
1. Hire a Real Estate Agent
Did you know that people who sell their homes by owner (FSBO) rank paperwork, pricing, staging, and marketing as some of the biggest headaches when listing without representation? While agent commission is a point of contention for FSBO sellers, most people end up gaining more out of a sale, even after commission, when they sell with an agent’s representation. Why? Agents do so much of the work that FSBO sellers end up paying people to do anyway that it’s more convenient and cost-effective to roll it into one package.
2. The Listing Price Must Match the Home’s Condition
Homeowners tend to list their homes higher than their market value because of their emotional attachment or need for a certain cash-out number. But take advice from our listing agents— a higher-than-merited price will stagnate progress no matter what condition your home is in. Pricing your home right according to its value is undeniably the most important step to selling your home fast.
“You need to take emotions out of the equation. No one will love your home as much as you do.” — Elyse S, Leasing Operations Manager
“Markets go up and down and sideways all the time. That said, the biggest lever to pull is your price. Being priced correctly, given the current market, is always the most useful strategy,” Mike T, COO of Marketplace Homes
3. Enhance Your Home’s Curb Appeal
Potential buyers make judgments about your home quickly, even before they make it to the front door. Nothing says “bad” like a home with an overgrown yard, trash in the driveway, and dirty siding. Take care of your home’s exterior so that you raise your home value and expedite the selling process.
4. Fix Major Systems (or Provide Financial Backing for Them)
Today’s home sales involve more risk for the buyer as mortgage payments are significantly higher than last year. It’s imperative to fix your home so it passes the major points of a home inspection, which includes:
- A solid foundation with no cracks or moisture.
- No leaky or outdated roofs.
- No windows in an evident state of disrepair.
- Updated HVAC system that isn’t on its last leg.
- A sound electrical system that can handle today’s electricity usage.
5. Use Professional Photos
Hiring a professional photographer for your marketing photos is an absolute must in this housing market. People are more tech-savvy than ever and care about how the home looks both digitally and in person.
“You need to market your home with photos that WOW a potential buyer. They need to have a higher resolution than a flip phone camera,” — Johnny F., Client Services
6. Focus on the Places People Check the Most
When it comes to a house, there are certain parts that mean more to the buyer than others. For example, a closet without hooks or shelves isn’t as much of a deal breaker as a terrible master bath. People place the utmost importance in the functionality of high-traffic spaces.
“Focus on the main areas of the home, like the kitchen and master bed/bath. Whatever budget you have to spruce up your home — do it there.“ — Andy S., CRO of Marketplace Homes
7. Replace an Old Roof
The high cost of replacing an old roof often tempts sellers from avoiding the repair in hopes that the buyer will take responsibility after purchase. But in 2023’s real estate market with high-interest rates, buyers are more squeezed financially and won’t accept imperfections like this- especially when a new home costs hundreds of more dollars per month to keep up with.
Hot Take: Old roofs are also barriers to financing approval. If you have a buyer that needs a mortgage to buy your home, their lender may deny their loan due to the age of your roof. Homes that they accept loans for must be low risk for the lender, and old roofs pose many threats, such as leaks, fire, and mold issues. So, in 2023’s market, fix an old roof or offer a credit that pays for a full roof replacement after the sale.
“In this market, buyers are always looking at the condition of a roof, and it is the first thing that is picked apart during negotiations. So, I say the roof needs to look good! – Johnny F., Client Services
8. Declutter Your Home
Too often, homes don’t show well to prospective buyers due to clutter. Home staging is critical in making a good first impression. Clean, attractive homes also can merit a higher sale price, especially if they show well with professional photos and landscaping. Interior flow is just as important as curb appeal, so listen to your agent’s advice on decluttering for home function.
“Stuff gets in the way. If you like to own STUFF, get a storage unit. I always tell my sellers that they’re buying your house — not your furniture or your decorations. You’re moving anyways, right? The time to start packing is now.” — Nicole L., Marketing Concierge
9. Make Your Home Impersonal
Buyers like to envision themselves in your home. Therefore, offering a blank slate is a powerful sales method to get your home on their radar. They don’t see it as something that belongs to someone else, but something they can customize and grow in. If they see your pets, engagement photos, or extensive video game collection, it will be harder to consider your home a potential forever abode.
“We’ve always hidden as much evidence of our dog and not a million family pics up when selling a home and try to make it as open and decluttered as possible prior to showings. Therefore, someone can actually visualize their belongings in there.” — Jon W., Renovations Specialist
10. Replace Obviously Outdated Elements
While some elements like a well-maintained Y2K chandelier may be charming to some buyers, other things like severely outmoded wallpaper or rusty old fixtures should be replaced. As stated previously, buyers are less willing to deal with old or broken things, so replace the elements that make your home look too outmoded.
“Few buyers will accept curtains from the 70’s or carpet in the bathroom.” — Joanna, Property Management Team
11. Deep Clean Your Home
Clean homes look better, have more value, and smell better. If your home appears attractive but you can’t get through the closing process, you may have a home that doesn’t smell right.
“A clean house is a must. Before you host an open house, you should deep clean in advance. Don’t let it look like you decided to host at the last minute, because people can tell. “— Erika C., Accounting
You don’t want your house to have mysterious smells that make people leave after the first five minutes. An excellent listing that’s ready for a quick sale will invite the buyer in and feel at home.
12. Expect Seller Concessions
In 2023, you will need to figure in seller concessions as part of the cost of selling. If you try to nickel and dime everything during the negotiation process, you can end up losing a buyer. In this market, it’s common to give up something, such as pay for closing costs, to make the buyer happy.
Your realtor will prepare you for the concessions that are valid, such as providing a credit for a fresh coat of paint, vs. something that may be over the top (i.e. credit for a luxury heated swimming pool plus sauna).
“Be prepared to build concessions into your price a little bit. Buyers want to feel like they are winning after inspections, and buyer’s agents want to feel like they are earning their keep. Having these expenses already in your budget helps a great deal.” — Andy S., CRO
13. Sell Your Home to a Real Estate Investor
If you’re very short on time and need something guaranteed, an investor with a cash offer can shorten your selling timeline significantly. There is no need to do any upgrades and you won’t have to deal with bidding wars among buyers. To find an investor, you can look for cash buyers online or in-person through a realtor who may have some connections.
You can also check your area for “we buy houses” bandit signs which usually contain the contact information of cash buyers. Ibuyers are also an option, though it’s better to get a cash offer from a company that uses both AI algorithms and human common-sense home valuation.
Sell My Home Quickly
If you need to sell your house quickly, our real estate team can show you the way. We can help you understand all the risks and rewards, so you know what to expect— whether you decide to list your home with us, do for sale by owner, or cash out with an ibuyer. We promise to help you make the best choice for your real estate journey in any market so you can feel confident about your path.
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