Even though the American real estate market has thoroughly recovered in 2018, some homes are taking longer to sell than others. Even if you live in a seller’s market, competition may slow down the process of getting to the closing table. If you need to sell your property in a timely manner, you will have to approach this transaction strategically. Here are four recommendations you can follow to sell your home as fast as possible:
Get Rid of Clutter
Staging real estate is a strategy that can sell a home faster, and it requires that the property be free of clutter. In essence, staging involves setting up living spaces in a way that makes them look large and enticing. You may want to get a storage unit while your house is on the market so that you can put away items that are creating clutter.
Avoid for Sale by Owner Situations
According to statistics compiled by the National Association of Realtors, FSBO transactions tend to close six weeks later than those handled by real estate agents. Another interesting statistic is that final price of FSBO closings is 13 percent lower on average. While there are some advantages to going FSBO, speed is not one of them. Selling a home on your own is usually a long-term project.
Price Your House Reasonably
Selling your home during the spring or summer will help move things along quickly; however, prospective buyers will still pay attention to prices. A property will only sell as fast as its price allows. If you set an ambitious price that is higher than the market average, you will face competition and your closing may end up delayed. An enticing price may attract an institutional investor who is used to closing for cash. Be sure to discuss your financial targets as well as your time frame for closing with your real estate agent.
Hire the Right Professionals
When you evaluate real estate agents, be sure to mention that you are pressed for time to sell your home. Some agents are used to putting their clients on a methodic pipeline to get the maximum sales price while others focus on getting to the closing table as quickly as possible. When you find the right listing agent, be sure to ask for referrals in terms of title companies, attorneys and contractors who can speed up the process.
Following the recommendations listed herein are just the beginning. Your real estate professional will likely suggest other tips based on her experience in your local market.
