Sometimes the housing market can slow down to a snail’s pace. During these times – even with relentless marketing and advertising – it seems like it is close to impossible to sell your home. So, do you wait a few years until the market picks up again and rent your home in the meantime, or do you trudge along? The truth is that there are countless measures you can take to make your home more sellable, so that you can get it off the market and off your hands in a much shorter amount of time. Here are five effective tips for selling your home fast in a slow housing market.
List the home slightly below market value. If the housing market is going through a downswing, you may want to bite the bullet and list your home for lower than it’s worth. This may be tough, but it may also be the smartest move. If you are in a precarious situation and need to move your home fast, lowering the offering price will attract many more buyers looking for scavenger deals on properties.
Hire an agent with selling experience. If you’ve searched “sell house fast” online and there seems to be no other options, you may want to contact a real estate agent in your region that has the knowledge and the knowhow to price homes to move. Ideally, you want a good top ten list of agents and then you want to look at their batting record – you can ask the agent directly for their statistics. There is a good chance that you will find an agent that knows how to sell homes in a slow housing market.
Make little renovations and repairs – you may even want to add a few new appliances. If the dishwasher, refrigerator and other appliances are not faring well, you may want to think about swapping them out for new, stainless steel models. You may even want to re-insulate walls, patch up major defects and even go so far as install a new HVAC unit. Modernizing and renovating are two of the best ways to garner more buyer interest.
Don’t scoff at lower offers. If your home has been on the market for over six months, you shouldn’t be turning down offers. You may get a few low ballers, but it will be much better than nothing. So, would you rather unload your home or spend another six months paying for marketing and advertising to get your home off the market?
Stage your home. Even if you are a homeowner, you want to be sure to get rid of all your old dingy furniture (or put it in storage) and feature new modern furniture. You want to make your home look new and fresh – not lived in. When people are looking for a new home to buy, they want something that looks new and updated. In the end, the more you can refresh and update your home, the faster it will sell.
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