I know how tedious selling a house can be. I opted for ‘For Sale By Owner’ or the FSBO method to sell my house without having a clue about its working. Believe me; a lot of work needs to be done, especially when you need to make a sale in a short time. How did I still manage to get a suitable buyer for my house you ask?
I asked several questions to myself about the house, what I wanted from the sale and the local real estate market to prepare a small checklist. It had 10 simple steps that were to be followed throughout the process; I got a decent price for my house in less than 30 days. Read on to know these steps and follow them to make a sale.
- Know The Real Estate Market
“Is it the right time to sell the property; is the market hot or cold?”
Talk to people/local brokers about the real estate market in your area. Get acquainted with the new buyers. They are the best aware of market prices. While selling the house during hot market time would mean great deals, cold times would only delay the process and call for a number of negotiations.
Go through the internet. Get an insight on your property market; know the real estate timing before selling the house.
- Get The Valuation Right
“Will this price fetch suitable buyers or will my property stay stale?’
Once you are done with the research, it’s time you price your house. Keeping the price too low would get you no profit while too high price would mean no buyer. Remember, house price is the first thing that will attract any buyer.
Setting the price lower than the market price may sometimes be profitable; it may attract a number of buyers resulting in a bidding war; thereby, raising the price. This way you can get better deals and trigger the sale process simultaneously.
- Know The Selling Terms
“What if the buyer is not the right one?”
As a seller, you need to set your preferences right. Think about all that you want from this sale; the type of buyer you want, how long would you take before handing over the documents, the mode of payment, are you ready for payment in installments, what would the closing amount be, what is included in the sale etc.
Highlight these pointers in your home advertisement to decrease the time taken in discussions and negotiations.
- Clear The Mess
“Is the house capable of attracting buyers?”
Before you advertise your house in the local listings, remember that a clean house attracts more buyers than a messy one. Remove all the unnecessary stuff from your house. Work on all the rooms and even the garden to make it presentable.
Go through every corner of the house, clear up the cobwebs and leave no dirt cakes. Don’t leave chance for the buyer to double think about buying the house.
- Get The Repairs Done
“Should I leave this drainage problem on the buyer’s head or get it fixed?”
Ignoring undone fixtures and repairs are a sure deal-breaker. No buyer would want to invest in a house that is not up-to-the-mark. Ensure that your house is at par with the current market standards.
Give your house a whitewash. Furnish it with the necessaries beforehand to fast-forward the selling process.
- Set Out A Marketing Plan
“How do I find a buyer for my house?”
Most of the home sellers are stuck on this question. It is necessary to have a marketing plan for your house to get buyers quickly. Use traditional methods like listing the house on all the portals/dailies and putting a “For Sale” board.
Try unconventional methods like offering ‘seller financing’. You can even try to be tech-savvy and offer virtual tours of the house on major portals or even send out e-flyers to find buyers quickly.
- Hire An Agent If Required
“Should I or should I not hire a realty agent?”
It is an undeniable fact that hiring a realty agent or local broker for your property would not only simplify the process but also trigger the sale. Go through all the local brokers in your area and hire the one who has the best track record. They always have a large number of potential buyers in their database and would easily find the suitable one for you.
Interview them before you select one. Ask them questions like how they plan to advertise it, what changes they feel are necessary for the house to know their marketing plan.
- Welcome The Visitors
“How many visitors would you get after the listing?”
Once your listings are out, be prepared to welcome a number of potential buyers for viewing. Try to be present at the home as much as possible. Don’t let a locked door be the reason for your buyer’s return. Remember a potential buyer once gone would rarely return back.
Be a good host and welcome them warmly. Be their guide and show them all parts of your neatly-maintained house to impress them.
- Remember Staging Is Important Too
“How do I show them the entire house?”
Staging plays a key role in helping you sell of a house. Whether you already have dedicated space for everything or have idle space in your house, tell the buyer how various areas of your house can be used in several ways.
Stage your house to make every space look useful to the buyer; even the backyard or that empty room.
- Be Flexible
“How much space should I leave for negotiation?”
It is in buyer’s nature to negotiate even if you have everything set out right. Whether it is for the price or the added furnishing, there would always be negotiations. You need to be a bit flexible to crack the deal with the buyer quickly.
Act smart and be prepared for these negotiations. Keeping the price high and lowering it on buyer’s negotiations can be of help.
So, these were the 10 simple steps that helped me crack the deal within 30 days. These steps make the entire selling process very smooth and break-free. Try these steps yourself whenever you wish to sell your house and get a number of responses in a short time.
Author Bio :
Anurag Gupta writes for RealEstateIndia.com, one of the prominent real estate portals. He has a nose for the news associated to Realty Sector and loves sharing actionable advice with prospective buyers, reliable real estate agents, and investors enabling them to make smart, informed decisions rated to property buying and selling.