How To Sell Your Home Quickly In A Slow Market

Updated: Jul 17

Selling a home quickly can be important but maximizing the home sale price is always a factor. The following tips will help your home not only sell quickly but also make it stand out from the competition.



Cleanliness

having a clean home and I mean a deep clean can help sell your home quicker. Home buyers enjoy a home that sparkles and this mean everything from shampooing carpets to cleaning windows inside and out, to wiping down all faucets. Since you are in a rush you can also hire a local cleaning company to help out!


Curb Appeal

The front of your home is the first impression for a touring potential home buyer. Ensure that you grass is always cut, weeds are pulled and even think about adding a new shrub or tree if you have time. It can be helpful to ask a neighbor (the nosier the better) or a friend to come over and take a look at anything you might have overlooked. It is easy to gloss over a outdated mailbox or an outdated front porch light that you are used to.


Depersonalize the house

Just as you want your home to feel like it is yours, a prospective home buyer wants to imaging themselves in the house. To do this remove very personalized things such as family portraits and instead replace them with generic photos.


Price

Pricing the home right can be one of the most significant ways to influence a quick sale in a sellers market. The key word here is priced right not under priced. To do this, run a comparative market analysis (CMA) of the surrounding homes from the last 6 months. From there adjust accordingly for any features such as air conditioning or additional bathrooms. This will allow for the right price to be set and get the most amount of people in and view the property. If you need to sell your home within seven days, lower the going price for the home by 5% and watch the offers pour in.


Listing Exposure

Advertising works best when the sale is viewed by the msot amount of people who are interested in that topic. With a home sale it is important to have it listed on the multiple listing service (MLS) so that all of the home buyers and real estate agents will have access to the listing. This should be complete with high end photography to make your listing stand out as well as a sign on the doorway so that anyone passing by can realize they could move into their favorite neighborhood.

Staging

Staging a home separates it from the others on the market. It allows for the buyers to come in and visualize the space. Buyers can be picky and when in a slow markety they can get away with it. Staging itself isn't perfect, however it will help convert buyers looking at the property to buyers placing offers on the property. Staging can be done with your own furniture or some rental furniture will generally cost less than $5,000 for a complete house.


Quick Repairs

Every house some some minor issues that you've lived with for years such as a ding on the wall or a squeaky door. Take time to notice these small things and give them a quick repair. This goes a long way to home buyers who know the home is being taken care of and don't find little things that lead them to become concerned there could be large issues lurking behind the walls.


Cash Offers

It could be worth only accepting cash offers when you list your property. Cash offers can close on a house in as little as seven days compared to a usual 30 days for home buyers who are financing the deal. Cash offers don't require an appraisal or other lengthy paperwork which can expedite the process.


Short Sale

If your property is worth less than you owe on your mortgage, it may be worth calling your bank and seeing if they will accept a short sale. This sell the property at a loss with permission from the bank who will then handle the transaction.


i-Buyers

There are a plethora of companies showing up online that will buy your home without needing to have repairs, showings and more. Some of these examples are Zillow and Opendoor. This however should be a very cautious option however since they will typically offer 10-20% less than the house is worth. Using Denver's median home price of $435,000 that could mean missing out on upwards of $87,000! At a minimum it may be worth talking with a real estate agent who can help establish your homes worth so you know exactly how much you are paying for the easier transaction.


Rent Instead

Sometimes a quick sale isn't worth it, if the market is slow it usually means that the home prices are down. It may be worth looking at renting the property and having the renters pay the mortgage. If you don't want the hassle or experience of managing a rental property or you are moving out of town, there are a plethora of property management companies that would be glad to help.



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