How To Sell Your Home Quickly: Top 7 Tips From Experts
The housing market is at a historic high right now. That makes selling your home appealing, due to the potential gains you might get from it. But it can also make it difficult to sell your home.
At the same time that the housing market is seeing price increases everywhere, the general economy seems to be taking a nosedive. Some people are even predicting a recession. Whether that recession hits within the next six months or six years is still unclear.
Even less clear is when and how it will impact the housing market. What is clear, however, is that the threat of recession has already had an impact.
Specifically, it is the cause of those aforementioned difficulties in selling your home. After all, who wants to buy if the market is about to tank? That means you need your home to be especially appealing if you are going to move it in this market.
And as an added bonus, this will also help you market your home if you end up waiting until the recession hits to sell it. At that point it will be much harder to sell a home. We will focus for now on 7 ways to get your home to sell in the current market.
Get An Appraisal
The process of getting an appraisal is simple: Find an appraiser of property and contact them about touring your home. In the process, they will find any faults or damages. They will list these damages, as well as provide you with an official “quote” of the price of the home and damage.
To people who are familiar with real estate, this will be second nature. But to those who are not, it might seem like a baffling gesture. So, what does getting an appraisal do?
It comes down to those quotes. Appraisers are licensed, which means those quotes are taken as accurate assessments of how much the home costs, and how much needs to be spent to repair the damages that they have reviewed.
Know Your Market
You do not just have to sell your home to people who are going to use it as a home. There are probably tons of different startups and companies that would love to use a home as a business space. Knowing your market means knowing what sort of people are looking for such a thing.
That means having an idea of what your home can be used for. A home closer to the inner city will have a lot more options for what it can be used for, as zoning laws allow such a home to be converted into a business. That means you can sell to businesses much more easily.
Repair Your Home
As with the appraisals, home repairs are an obvious step in real estate. But it might not be obvious how small the repairs need to be. Generally, a house will need to be repainted before it is shown off. You will have to undo any water damage and get rid of any mold.
The reason is that these are all good ways for a potential buyer to talk the price down.
Have A Strategy
Speaking of talking the price up or down, let’s talk business strategy. Building a strategy means having an idea of what about your home makes it stand out. When you start negotiating the price, you better be ready to justify why you are selling your home at the price you set.
If your home is near a good school, has safe roads, or any other appeals, make sure to be ready to talk about these. If it is situated on a native American burial ground, try to avoid that topic as much as you can.
Work On The Façade
While you obviously need to repair your home and clean it to make it as presentable as possible, special care should be given to the façade of the home. It is the first thing most buyers will see, so it is worth it to put effort in there even if you do not put that effort anywhere else.
Some people skip this step because decorating the front of the house for this purpose feels dishonest. Ignore that impulse. You are always selling a bit of a fantasy.
Depersonalize THE Home
It is so easy to miss this step. The idea here is that when you are selling a home you want it to have as little of your personality visible in it as possible. The reason is that you want the buyer to be able to imagine themselves in it. They can’t do that if your decorations offend them.
Again, you might feel like this is dishonest. But remember that the home’s natural state lacks personality.
Get Into An MLS
No matter how your home looks, how its priced, and even what businesses it can turn into, it does not matter if no one can find the listing. An “MLS” (or multi listing service) will get the home in front of all sorts of prospective buyers. And the best part is, you have control over who.
You can list your home in a local MLS, but you can also put it up in an MLS in a major city. This will allow a company from that city to buy the property. It does cost money to list your home in these, but it can be worth it. This is a big part of the reason why knowing your market is critical.
To summarize: Selling your home is a matter of preparation, marketing, and negotiation. Your home has to look right by being clean and neutral to buyers. Your home has to be marketed correctly by being sold at the right price to the right people. And finally, your home needs to be advocated for by you during negotiations so it can get the best price possible.
All of this and more can be learned via Teifke Real Estate.