|
Follow These Instructions To
To sell property quickly in the current tough market conditions can be a difficult task depending on how you approach it and how desperate you are to move. Even if projections for the housing market are not very good, it doesn’t mean that you're stuck with your house. I've sold hundreds of properties to homeowners and investors, and I'm going to share with you what works. There are many people who will be horrified at the thought of selling their house this year but there are always ways to sell property quickly in any market regardless if it’s a good or bad real estate market. I’ve see houses in a red hot market not sell. But don't despair I'm here to help you in preparing a house to sell for as fast and as much money as possible regardless of the housing market in your area. Sell property quickly from Today!!! To make sure your property sells regardless of how the market is performing, here are some tips to help sell property quickly: Getting Ready to Sell: Knowing how to professionally show off your home is part of the selling process that will build a emotional connection with your final buyers. The other half is figuring out if you have too much furniture, the wrong type or a bad arrangement and whether it's worth making repairs or staging your home to transform that house into an irresistible and desirable showcase for potential buyers. Update Your Interior: I sometimes don’t know if I should laugh or get mad when I am searching through home listings and the interior looks like something out of that 1970's show. What can you afford to do to set your house apart from all the others? When I want to sell property quickly, the first place I start is in the kitchen and the bathrooms especially the master bathroom. These are the most expensive rooms to renovate but they stand out the most to potential buyers and you should be able to recover 100% of the money you invest depending on your market. If you’re going to update your home you should Do It Right! or don’t bother. I can’t tell you how often I see someone do a kitchen or bathroom remodel where the end result could have been greater but because they cut corners it turns out looking bad. There are ways to save money remodeling your house, but just because you’re putting in new materials doesn’t mean it looks good. * When it comes to the kitchens, buyers want granite counter tops, stainless steel appliances, tile floors, and tiles on the back splash. It has the most modern look, and the cost really isn’t that much more than Formica counter tops, black and white appliance and vinyl flooring and a painted back splash. Your budget may not have enough money in it for a slab of granite so consider using granite tiles. They are inexpensive, and they look great if properly installed. I wouldn’t replace your cabinets unless they are in really bad shape so look into refinishing or painting them. Bathrooms can be tricky when it comes to remodeling. If you’ve got really ugly wall tile you may want to consider replacing them. I wouldn’t recommend re-glazing the tiles. The other way to really make your bathrooms stand out is replacing the vanity, sink, mirror, and light fixture. The vanity and sink can be costly. Try going to a wholesale supply store or scour the local Lowe’s or Home Depot for the items that were returned and/or marked down in price. The rest of the house is just a matter of updating some flooring, light fixtures, and putting on a fresh coat of paint. Look into staging. It can really help to sell property quickly. Here's a video for some ideas:
Give your home some curb appeal: This is the same idea as updating the interior of your home. You only have one chance to make a first impression so the exterior will be you first impression the buyer gets of your house. Look into sodding your yard, replacing dirt with mulch or stones, and replacing some of your plants that look like weeds with small palms or plants with flower buds. Drive around your neighborhood and look for houses with beautiful front yards for ideas. Since buyers have so many options when it comes to searching for a new house, they will be looking for the house that stands out from every other house. Know your market in order to sell property quickly: How much is your home worth?? Pricing a home is part art and part science. It's a combination marrying analytical statistics to emotional appeal and market movement. You do not want to overprice your home or try to test the market because once your home is exposed to the market you want it to sell fast. If your home sits on the market for too long you will start to receive low-ball offers, and eventually you will become a desperate seller or you will have to take the home off the market. Make sure that you checkout the local market for homes similar to your home selling for reasonably close to the asking price. Try to find out how many days on average does it takes to sell a home in your area? To sell property quickly, your goal is to price it just right for a fast sale. To find pricing information, you can use these websites:
• Cyberhomes • Eppraisal • Realtor.com • Zillow.com Find the Best Agent: A good real estate agent can make or break your deal! You want to hire the best real estate agent you can find which to me means hiring an agent who will put your interests first, above his or her own. Remember all agents are different. They have different percentage rates, they specialize in certain areas, and they utilize a variety of marketing techniques and possess particular skill sets all of which sets them apart from one another. Don't choose your agent based on a gut feel of you liked them or because they gave you the highest price. Checkout how many homes they sold over the last 30 day, 90 days 6 month and in the last 12 month in your area. Then ask the agents who are able to sell property quickly, and have actually SOLD several properties recently in your area to come and value your home. * Make sure you are working with a seller's agent and not a buyer's agent.
Learn more criteria for finding a great real estate agent you can trust Marketing and Showing: Effective marketing is more than sticking a sign in the front yard. Successful real estate agents utilize dozens of marketing techniques to draw the large number of buyers to your home all at the same time. They will have buyers show up to your doorstep all at once creating an emotional environment where the buyer feels a need to act fast or they will lose out on your home. Make sure you have your agent provide you with a marketing plan geared to exposing your home to the largest pool of buyers in the shortest time possible. Speaking about marketing, if you're someone who's interested in flipping properties, or wants to sell several properties a year, look into building your very own list of buyers. Undercut the Market To Sell Property Quickly: This is the one thing that most sellers will do once the house sits on the market for too long and most real estate agents will frown upon doing this. Don’t get me wrong I’m not saying you should give your house away but you have to be realistic about the true value of your home. Pricing the home is very important so think about this when you receive an opinion from the real estate agent about the listing price. Real estate agents are going to give you a premium price estimate because the higher the price the more likely you will give them the listing and the higher the property sells for the more money they make. Some real estate agents are not concerned about the consequences of not pricing the home to sell... I was looking at buying a vacation condo a few months ago and I was working with a real estate agent that would not allow me to write a low-ball offer on a property that was on the market for two years. I later found out he didn't want me to undercut the current market price because he owned four units in the complex. He had his units for sale and a low-ball offer that was accepted by another seller meant I would start a trend for the rest of the complex lowering the price of his units even further. Sometimes we all need to face reality, and today's price may or may not match what the price use to be. If you really want to sell property quickly, list your house 10 to 15% lower than the other houses on the market in your area and you’ll get a lot of attention from buyers. * You might get enough attention that if you improved the property and properly staged the home you might get your full asking price. Have a Minimum & Maximum Price: A property rarely has one value. It just depends on competition and how confident buyers are about making an offer. Ask your agent to provide you with three property values: 1). a price to sell the property in six weeks 2). a price to sell within four weeks 3). a price to urgently sell the house within two weeks This should help you determine a minimum and maximum price for your home. Give the Buyer Extra Incentives to Buy: Buyers love to feel like they are getting something for free! You can be as creative as you want to be here... Throw in with the sale of your home a free home inspectionor pay a portion or all of the closing costs, or throw in a year’s worth of HOA fees in neighborhoods with common areas, or offer to pay for the years property tax. Combine any of the above or anything else you can come up with. I think a great idea for attracting younger, hip buyers is throwing in a plasma TV and surround sound system with the purchase of the home. Or, how about a hot tub? I once gave away a car with the sale of my high-end homes to the first buyer who offers full price at the open house. It sounds desperate, but that's what you want people to think and once they arrive they find themselves with 20 or 30 other buyers. Plus the cost is worked into the price. The key is to have a lot of buyers looking at your home. Financing to Sell Property Quickly: In tough markets buyers ask sellers to help finance the purchase. Owners offering special financing attract more buyers. More buyers is what you want if you want to sell property quickly. Plus the interest paid on the portion that I finance when I offer seller-financing makes great passive income to save up for a vacation or to cover the payment of another property. Negotiation Strategies: Sellers and buyers are often polar opposites. Buyers want to pay as little as possible and sellers want as much as possible. Somewhere in between those two extremes, sellers and buyers find middle ground or the deal doesn't happen. Decide upfront what your bottom number is and stick with it no matter what kind of offers you get. If you get a low-ball offer don’t take it personally. If your first offer is not the price you want, counter and if the buyer walks away then they really were not your buyer as long as you priced your home right. To sell property quickly, you need to understand the value of your house, and your market well enough to give you the confidence to be able to negotiate with any buyer that makes an offer. Accepting Your Offer: Keep in mind you may not get the offer you want but any offer you get is still worth considering. You want to be realistic about your homes value and don't hold out for the highest price because in a down market, it will often back fire. If the offer doesn’t meet your minimum offer but it's close enough, negotiate as hard as you can to get as close as you can. If you come together, you sold your home. If not, still consider the offer and try to negotiate harder when you buy your next home. Home Inspections: Almost every home buyer will get a home inspection before committing to buy your home. You can help sell property quickly and make the home inspection process go smoothly by preparing for the home inspection and making minor repairs beforehand. I will always hire my own home inspector to inspect my home before I list it for sale. I Always give the buyer a copy of my inspection report showing them I’ve already made all the repairs. Home Selling Mistakes: The first inclination that something is wrong happens when weeks go by without calls from buyers or their agents or when buyers don't spend more than 30 seconds inside the home before scurrying out the door. If your neighbor's homes are selling and yours is sitting on the market something is obviously wrong. It’s time to regroup and reevaluate everything because there could be a problem with the photos on-line, the properties description details on MLS or you simply have the wrongreal estate agent. It is essential to find out what is putting the buyers off so talk to your agent that showed your home to potential buyers and ask them for feedback. * If you don't get any feedback, go to other agents that have sold properties similar to yours recently and ask them why they think it hasn't sold. Keep in mind there is nothing wrong with the home or the listing agent but it may just be that there are no buyers currently looking to buy your kind of home or in your price range. It's essential to know this as you may be better off taking the property off the market until buyers come back into your market. Final Comments to sell property quickly: Don’t be discouraged if selling a home is tough in your market. The media will continue to feed us information that the economy is going down the tubes and they’ll point to the housing market this year to prove their point. The housing market is in at the bottom off the cycle in most areas. It will go back up and it will be steady, healthy growth rather than the crazy, frenzied growth like we all saw. The longer a seller's home is on the market the less attractive the home becomes to potential buyers. The most important trick to sell property quickly is pricing it right and by hiring the best listing agent who attracts that excited home buyer who will offer top dollar in record time. Need help to know if your property is going to sell? Why not let us have a look? Email or post your property details: dario@rental-property-investing.com Good luck :-) Trying To Sell Your Property or
|
