Is there really a way to sell your home quickly in this market? You’ve been transferred, or worse, you’ve lost your job. You simply can’t afford your increasing mortgage payment anymore – you need to sell your home fast, as in yesterday fast, right? There is a process to sell your house quickly.
According to the National Association of Realtors home prices in the U.S. continue to fall, albeit at a slower decrease than in previous years. So, the first step of our 5 steps to a quick home sale is:
1. Be Realistic with your Price in a Down Market. This means everyone including you. Call a realtor active in your market right now. Tell him/her you need to sell your home quick and ask for a competitive market analysis (CMA) with this in mind – you need to sell your home within 60 days. Let them do their thing and get back to you. Also ask your realtor – what is a typical days on market (DOM) right now? In my market, it’s a stout 189 days (6 months) – so you must price your home accordingly for the house to sell fast!
2. Have a realtor friend or a knowldgable person go through your home with you and point out the Five Most Important Things you must do for this home to be more attractive. Don’t go crazy, but get yourself in gear and do the five things needed. Clean up your landscaping beds, paint that ugly bedroom a neutral color, get rid of that old couch, change out a broken light fixture. Again, be reasonable, but do it!
3. De-Clutter. This goes hand in hand with No. 2, but rent a mini-storage unit in your area, and clean your closets and junk out – right now! Get rid of seasonal clothes you don’t use. Get closets looking roomy, and get the garage straightened out.
4. Make sure your home information is correct. I provide a service teaching people how to measure their home for accurate square footage. Make sure your real estate taxes are current and there are no liens on the home. Find your old survey, or at least get a plat at your tax office. You don’t want slowdowns in critical areas like this.
5. Create a basic flyer for your home. List the square footage accurately, the bedroom and bath count. List everything you have done to the home in the past five years. Don’t wait for a realtor to do this for you – they may be too busy, or you may want to sell it yourself. Make it sell!
Now, don’t get overwhelmed – you can’t do all five things today to make your home sell quickly in this market. But, you can start and get moving toward your goal. Be realistic, but be aggressive – and you will be on your way to a fast home sell.