Thursday, October 3, 2024 / by Dick Keenan
Tips For Selling You House Quickly
Watching your home linger on the market with no interest can be extremely frustrating. Unfortunately, some sellers are facing that challenge today.
Recent data from the National Association of Realtors (NAR) shows that homes are staying on the market longer than in previous years. A report from Realtor.com supports this trend:
“During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”
This delay is partly due to an increase in available homes, giving buyers more options, and higher mortgage rates have also slowed down demand. While those factors are beyond your control, there’s one key area where you can make a difference: choosing the right agent.
With the right real estate agent and strategy, your home can still sell quickly, even in today’s slower market. Here's how:
1. Competitive Pricing
Setting the right price is crucial when it comes to selling your home quickly. A local agent will conduct a comparative market analysis, reviewing recent sales and current listings to price your home accurately for today’s market. Pricing your home too high with the thought of lowering it later can backfire. As U.S. News points out:
“Setting an unrealistically high price with the idea that you can come down later doesn’t work . . . A home that’s overpriced tends to sit on the market longer, even after the price is cut, because buyers think something might be wrong with it.”
2. Condition of the Home
Homes that are well-maintained, have curb appeal, and feature modern updates tend to sell faster. If you want a quick sale, make sure your home makes a great first impression. A real estate agent can guide you on what buyers are looking for, whether staging is worthwhile, and what repairs should be done before listing. Ramsey Solutions offers this tip:
“To sell your home fast, take care of any issues that could be a problem during closing. Talk to your agent about fixes needed to pass a home inspection, such as plumbing issues, roof damage, or HVAC problems. Getting ahead of these issues can speed up the process.”
3. Offering Incentives
If you want to stand out from other homes on the market, offering incentives can help. Consider options like contributing to closing costs, including a home warranty, or offering appliances or furniture as part of the sale. A real estate agent can suggest the best incentives based on current market conditions to help you close the deal more quickly.
Bottom Line
Selling your home quickly in a shifting market requires a solid strategy and a deep understanding of what buyers want. That’s why partnering with an experienced local agent is essential. As Forbes advises:
“When time is of the essence, you can’t afford to take a chance on an inexperienced professional. Work with an agent who knows your market and has helped sellers in your situation before.”
Ready to sell quickly? Let’s connect and make sure you’re set up for success.