The dream of every home seller is to sell their home fast and at the best price. However, in a slow real estate market like a buyer’s market, selling a house can be difficult. There is usually a high number of unsold properties and selling one can be frustrating. Simply listing your home for sale and waiting for a buyer is not enough. Nevertheless, no matter how bad the market is, you can always make the sale a bit faster with some creativity. In this blog, we are going to show you how to sell a house fast in a slow market. Read on to learn some of the best home selling tips:
Related: How to Sell Your House: Steps and Tips – Infographic
1. Price the house right
If you are wondering how to sell a house fast in a slow real estate market, a key aspect to take into consideration is pricing. While you want to get the best possible price for your home, you have to be realistic. Price is usually more critical in a down market. To price the house right, research what comparable houses in the area have sold for and undercut them.
A proper buyer will often be attracted to a house at a lower price. This will create a bigger pool of interested buyers and increase the chance of selling the property fast. You need to have a competitive price for you to stand out. If your listing price is too high, the house is likely to hang around for longer. Most property buyers search for houses for sale by price range. To have a quick home sale in a slow market, ensure that the property has the best value within a standard price range.
A real estate agent can help you in doing a comparative market analysis. You can also check for real estate comps in the US housing market using Mashvisor.
2. Sweeten the deal
Another tip to help you sell your house in a slow market is to make the deal more attractive to the property buyers. In a slow housing market, property buyers are looking for the best deal. Therefore, as a property seller, it’s your job to make them feel they are getting one. Offer terms that will attract more property buyers such as paying closing costs or offering a transferable home warranty.
3. Ensure the house is always ready for viewing
Selling a house in a slow market can be difficult if you limit the hours for showing. If someone has to get an appointment to view your house, they are likely to bypass it. So, make sure you are flexible and easily accessible at all times in case potential buyers want to see the house.
4. Ensure your house is ready for occupation
Another important tip on how to sell a house fast in a slow market is to make sure that it is in “move-in” condition. When a property buyer feels like they can move in immediately, they won’t be worried about the house having any other minor issues. They won’t have to spend their money and time to fix up issues before moving in. Therefore, make all necessary repairs.
5. Make improvements
You can also sell your house fast by making small upgrades to it. You shouldn’t spend too much on upgrades. Focus on minor, non-structural improvements such as repainting the walls, replacing the curtains, and adding new light fixtures. There are many inexpensive ways you can add value to your house and make it more appealing.
Related: Property Renovation 101: What Improvements to Make for High ROI
6. Improve curb appeal
A property buyer’s first impression of the house is very important. Therefore, make sure that your house is attractive on the outside if you want to get the buyer through the door. Potential buyers will often check out the house that seems to be in better shape and well-maintained first. Paint the front door, spruce up the flower beds, clean the driveway, trim the lawn, replace old exterior lights, etc.
Related: Selling a Property? 7 Easy Ways to Add Curb Appeal to Your Listing
7. Stage your house
In order to sell your house in a slow market, you should also consider staging it. Home staging helps to draw the attention of prospective property buyers during showings. If you want to know how to sell a house fast in a slow market through home staging, here are some effective strategies to consider:
- De-personalize the house
- Get rid of clutter
- Clean the house thoroughly
- Rent modern furniture and artworks
- Let in more natural light
You can also hire a professional home stager to help you highlight the strengths of the house and soften any possible flaws.
Related: Staging Your Property to Appeal to Millennial Buyers
8. Take professional photos
Clear, professional photos appeal more to potential buyers and will help sell your house fast. Consider hiring a professional photographer to take the photos to make your online listing more attractive. They know the best angles, lighting, and editing needed to make the house look the best.
9. Use multiple real estate marketing strategies
Use as many real estate marketing strategies as possible to entice potential buyers to take a look at your property. The more potential buyers that are aware of your listing, the more likely you will get a quick sale.
Here are some strategies you could use:
- Tell people around you that you are selling the house
- Place a “For Sale” sign in the yard
- Share your listing on different social media platforms
- Try direct mail marketing
- Hold an open house
- Consider paid advertising
Another strategy is to advertise directly to real estate investors. While homebuyers might be sitting on the sidelines in a buyer’s market, real estate investors are usually ready to jump on deals. Listing on online property websites like the Mashvisor Property Marketplace will ensure that your listing will be viewed by thousands of real estate investors.
Related: How Much Will an Investor Pay for My House?
10. Work with the right real estate agent
Hiring a real estate agent experienced in selling houses who is familiar with the neighborhood is also another useful tip on how to sell a house fast in a slow market. They have more information on buyers who will love your home and can also help in promoting the house. To find a good fit, you will need to interview a number of agents.
The Bottom Line
In a buyer’s market, property buyers are less than the property sellers, which makes selling a house very frustrating. However, you can still get a quicker sale if you employ some creative techniques. The house selling tips in this blog will guide you on how to sell a house fast in a slow market. You will be required to do a little extra work to increase the odds of getting your house sold, but it will be worth it!
Increase your chances of selling quickly by listing your property for sale for FREE in the Mashvisor Property Marketplace now.