Selling a house can be stressful even in the best of times. However, in a slow market, it can be twice as frustrating.
If you find yourself in a buyer’s market, that means there are countless houses for sale and few people looking to buy. As such, getting an offer on your house can take weeks, if not months. And once you get an offer, there’s no guarantee that the buyer will follow through.
But don’t worry, you can learn how to sell a house fast in a slow market. There are things you can do to attract more buyers and encourage them to put an offer down.
We’re here to help. Keep reading for the complete guide on selling a house quickly.
How to Sell a House Fast in a Slow Market
Selling a home in a slow market requires upping your real estate game. You need to pull out all the stops if you want to sell your home as fast as possible.
In some cases, this means spending a little extra money. However, if it means selling your home faster, it might be worth it.
Hire an Experienced Real Estate Agent
Start by finding an experienced local real estate agent. They need to be familiar with the neighborhood and know how to navigate a slow market. They’ll be able to provide more insight on how to attract buyers, both through marketing techniques and through home preparations.
Realtors also have connections with other people in the industry. They may know several other realtors with clients looking to buy a home.
Make Sure the Home is Move-In Ready
Learning how to sell a house fast in a slow market means making sure your home is picture-perfect for buyers. A buyer needs to feel like they can move in the next day without needing to do any work or make any major changes.
To accomplish this, take care of all of the small repairs and damages around the home. This includes things like damaged drywall, water damage, damaged trim and baseboards, and more. We recommend getting your home inspected first so you’re aware of any potential red flags.
Make Small Updates and Renovations
One of the fastest ways to sell a house is by updating it to meet current housing trends. However, this also depends on how much you’re willing to spend.
If you’ve got the budget, you can’t go wrong updating the kitchen and master bathroom. You can also focus on creating a more inviting outdoor living space.
Thoroughly Clean the House from Top to Bottom
Once all of the repairs and renovations are complete, you need to clean the house from top to bottom. Start by decluttering your home significantly or moving out entirely. The less potential buyers feel your presence in the house, the better.
If you don’t have the time or inclination to give your home a proper cleaning, hire professionals to do it for you. Cleanliness is incredibly important for encouraging buyers to put down an offer.
Hire a Professional House Stager
Once you’re moved out, your home can feel cold and empty. To warm things up and show off the potential of your home, we recommend hiring a professional home stager. Professionally staged homes can sell up to 87% faster than non-staged homes.
Price Your Home Competitively
Learning how to sell a house fast in a slow market means pricing your home to sell. In a buyer’s market, it’s important to understand that you’re going to take a hit on the sale price. However, when there are multiple houses for sale and limited buyers, it’s something you’re going to have to accept.
If you have a realtor, ask them to help you price your home competitively, yet fairly.
You can also attract buyers and encourage people to make offers by giving them incentives. For example, if you took the advice above and have already had your home inspected, it’s one less thing the buyers have to do and pay for. This can save weeks in the buying process.
You can also offer to pay all closing costs and realtor fees, which will save the buyers thousands of dollars. Though you’ll be the one picking up that tab, it will likely result in selling your home much faster.
Finally, consider throwing in extras, such as allowing the new homeowners to keep your appliances, window treatments, or furniture. Ultimately, it comes down to how quickly you want to get out of the house.
Take Dozens of High-Quality Photos
Though your realtor may take it into their own hands, you need to make sure your home is represented online with quality photos. Buyers quickly lose interest in homes if they only have a handful of pictures to view. They’re equally turned off if the photos are of poor quality.
Buyers are more likely to put an offer in on a home after touring it. Your job is to use your photos to entice online shoppers to come by for an in-person tour.
Use Multiple Marketing Platforms
Learning how to sell a house fast in a slow market also means taking advantage of every available marketing platform. If you have a realtor, they can list your home on various real estate listing sites. However, you can take things into your own hands and market your home on social media, craigslist, the local paper, and more.
Consider Other Options
Finally, if selling a home as quickly as possible is your top priority, you may not have time to dress it up and sell it traditionally. If this is the case, there are a few other options you can consider.
First, you can try selling the home as-is. This will attract home flippers and young couples looking for a cheap project home. However, you may not get the money you want out of this deal.
Alternatively, consider using cash home buyers. These companies exist for people in your exact situation looking to sell their home fast. In many cases, you can close on a sale within a couple of weeks.
Looking for More Upscale Living Tips and Advice?
We hope our guide on how to sell a house fast in a slow market provided valuable insight into your situation. If selling your house quickly is your major concern, remember to stay flexible and consider all of your options.
And if you’re looking for more lifestyle, money, or business advice, be sure to check out some of our other articles before you go. Our blog was created to help people maximize their upscale lifestyles.