‘How can I sell my house fast for market value?’ This is a question that many property sellers ask. Whether it’s a family emergency, job transfer or any other major life change, people often find themselves in situations where they need to sell their home fast. When you are on a tight timeline as a home seller, it can be very difficult to sell your house. However, the good news is that selling fast does not mean that you must sell below the real estate market value. If done the right way, you can sell your house for full market value.
Here are some tips on how to sell your house fast for market value:
1. Work with an experienced real estate agent
If you want to sell your house fast for market value, consider working with an experienced real estate agent that is familiar with the local housing market. A good agent will advise you to advertise the home for sale on the Multiple Listing Service (MLS). Alternatively, or even to expand your real estate marketing strategy, your agent may list the property on other websites, like the Mashvisor Property Marketplace. They will also help you set an appropriate listing price based on comparative market analysis and ensure that, through marketing and negotiating, the home is sold quickly and at that price (or even above it!)
You might need to sign a listing agreement which states that the real estate agent will exclusively represent you in the home sale. Seller agents usually charge a fee that is 3% of the total sale price of your property. For example, if the property price is $100,000, the seller agent fee will be $3,000. In addition, you might need to pay another 3% to the agent representing the buyer.
2. Don’t go the For Sale by Owner (FSBO) route
To avoid paying real estate agent fees, you could opt for selling your home yourself. This begins with deciding the value of your house or hiring an appraiser to figure out the true home value. However, it can be very stressful if you don’t have experience in selling property. When trying to sell your house fast for market value, you are likely to make mistakes that will cost you dearly. The short timeline could put pressure on you and force you to set a price below market value. You could even end up in serious negotiations where the buyer’s agent convinces you to bump down the price for one reason or another.
Besides, most ‘For Sale by Owner’ listed properties remain on the market for many months since sellers don’t have the resources, time or expertise to sell quickly. Professional agents work long hours, including holidays, weekends and nights, to ensure that property sells fast and at market value.
3. Sell at a real estate auction
Though slightly unconventional, getting your property listed at a real estate auction can be a great way to sell your house fast for market value. Selling at an auction is easy since there is no negotiation involved. Experienced professionals handle all the promotion, marketing, documentation, and the auction event. All you need to do is set the lowest bid you are willing to accept for the home (otherwise known as a Minimum Bid Auction). With closing dates between 30 – 90 days from the initial offer, auctions create a sense of urgency which enhances the chances of selling quickly. In addition, the sale is not contingent on appraisals and inspections. Since the bidding process is competitive, you are likely to get a fair market value sale.
The downside of using this strategy to sell your house fast for market value is that auctions have stricter terms for bidders. This means that the property buyer pool is much smaller than that for a traditional home sale.
Related: A Guide to Real Estate Auctions – Infographic
4. Stage your home
Home staging is basically about presenting your property in the best possible light in order to attract multiple offers on a house. With multiple offers coming in, you will be able to choose the one at fair market value or above. Also, a beautifully staged home will make it harder for buyers to find reasons to put forth low ball offers on the property for sale.
The good news is that staging doesn’t necessarily require spending lots of money in order to sell your house fast for market value. Here are some great tips for how to stage a house:
- Depersonalize the space – To help potential buyers see the home as their own, get rid of any personal touches. Remove personal photos and memorabilia from your walls and shelves. Anything overtly political or religious should also be put away. Make sure your bathroom is clear of personal items such as toothbrushes or make-up kits.
- Eliminate clutter – Getting rid of clutter will make your space look bigger. Clothes, books, games, and anything else you don’t use on a day to day basis should be taken out of the house and placed in storage.
- Deep clean – A squeaky clean house will show potential buyers that the home has been well taken care of. Be sure to give your kitchen, bathrooms, and bedrooms a thorough cleaning. Don’t forget to dust the shelving, overhead lighting fixtures, ceiling fan, and anything else close to the ceiling.
- Improve your curb appeal – Enhancing your home’s curb appeal will help create a good first impression and enhance the chances of selling quickly. Mowing the lawn, tidying up the driveway, painting the outside, and investing in patio furniture are some of the ways you can boost curb appeal.
Related: Home Staging and How It Can Amplify Your Return on Investment
5. Choose the best time of the year to sell your house
Timing is very important if you want to sell your house fast for market value. Generally, the best time of the year to sell in the US housing market is spring due to several reasons:
- The spring real estate market is typically the beginning of the hottest season- there will be more buyers in the market and competition will heat up. You’ll be able to sell quickly and probably for more than market value.
- Springtime bloom makes your property appear more attractive to potential buyers.
- Spring has better weather and longer daylight hours, making the process of searching for a home more enjoyable.
Related: When Is the Best Time to Sell a House?
These are just a few tips for anyone wondering ‘How can I sell my house fast for market value?’ With the right help and careful planning, sellers will be able to find buyers to make an offer on a house quickly. Be sure to choose the selling option that best aligns with your current goals and circumstances.
Increase your chances of selling quickly by listing your property for sale for FREE in the Mashvisor Property Marketplace now.