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If you’re a homeowner looking to sell your home – you’re not alone. 5.8 million homes in the US sold in May 2021, up almost 50% from the previous year.
But sellers’ markets don’t last forever, and sellers still need to list their homes properly if they want them to sell – regardless of the market climate. Curious about how to sell your home? Below are seven tips for selling your house fast in a competitive market.
1. Price Your Home Correctly
The most important part of selling your home is pricing it correctly the first time. Overpriced homes deter buyers and will keep your house on the market for too long.
When you try to price-cut your high listing, it will cause even more problems. Price cuts signal to buyers that you’re desperate to sell your home, which leads to the question: What’s wrong with it?
If a home can’t sell at its original price, buyers may assume that there is a major issue with the home that is preventing it from selling. Unless you want to wait it out for a high price, you should price your home competitively from the beginning. Look at nearby homes with similar features to get an understanding of your selling point.
Best of all, in this hot seller’s market, pricing your home competitively could start a bidding war that could escalate the price you ultimately receive.
2. Partner With a Real Estate Agent
To ensure that you’re selling your home for the right price, it’s a good idea to hire a realtor that you trust. You want someone with experience who can handle price-setting and negotiations for you.
If you’re selling a home for the first time, a quality realtor is a must. Your realtor could be the difference between a great deal and a subpar one.
When choosing your real estate agent, look for someone with lots of happy client reviews online. 97% of consumers use online media when researching services in their area, so you can view them as a credible source for finding a talented and reliable realtor.
3. List Your Home Online
Looking for a new home has become a mostly digital process. People looking for a new place to live tend to use popular platforms to look up homes (think Zillow or Redfin) or simply enter a Google search with their criteria.
You must list your home online, especially on websites that feature newly listed homes for sale. This way you’ll be able to get your home in front of potential buyers as soon as it hits the market.
When you list your home online, make sure you include as much detail as possible. It’s important to include information about the number of bedrooms, bathrooms, and square footage of the house. If the home has any unique selling points, include them in the description.
4. Establish a Unique Selling Point
It’s common for many homes to look similar to buyers, especially if they have general expectations. It’s up to you to show buyers that your home has unique selling points that make it worth their investment.
Selling points could include design elements of a home, like a historic design or antique fixtures. It could potentially include outdoor elements like a large backyard or scenic view. You could also focus on your recent home improvements to show buyers that your house is a step above the competition.
Or, you can simply note how well you’ve maintained the home, including notes about when you last replaced pricey items such as the HVAC unit or the roof, for example.
5. Have Your Property Professionally Staged
When a buyer enters an empty home, they have to use their imaginations to fill the space. They may not be able to envision the rooms with their belongings and furniture in a space with no furnishings or décor. But a few couches and paintings can go a long way.
Staging a home is fairly simple and creates an understanding for the buyer of what the space gives them. Staging will help to sell your home quickly and for more money when done properly.
To stage your home effectively, it’s best to have it professionally staged. Professionals will help you declutter your home and display the furniture and décor in a way that attracts the market’s current buyers.
6. Make Necessary Repairs
Selling your home means it’s time to take care of all of the renovations and repairs that you’ve been avoiding. Most buyers do not want to buy a home that is a project when they could find a property that is move-in ready.
Get in touch with a handyman to take care of all of the minor repairs on your property before you sell it. Have an inspection to see if there are any major issues that you need to address.
If you want to sell your property fast and don’t have the time or resources to finish major home improvements, you can offset the cost of these renovations in the sale. This will give you a bargaining tool in negotiations and will save you from doing the work yourself.
7. Keep an Open Schedule for Showings
Selling a house can be a process that lasts anywhere from a week to a month. If you have a more unique property or you expect it to be on the market for a longer period of time, it’s important that you stay flexible with home showings.
If you want to sell your home, you must be prepared for the unexpected and the inconvenience. This means you should try to keep an open schedule for showings. This doesn’t mean that you can’t have any plans – just accept that you may have to reschedule your life around showings sometimes if you want your house to sell faster.
Selling Your House, Fast
Selling your house fast in a competitive market is all about refining and optimizing your strategy. By listing your property at the right price, marketing it correctly, and partnering with the right agent, you will set yourself up to sell your property in the shortest time possible.