3 Strategies for a Quick Home Sale
Most sellers have a specific goal when it comes to their transaction: a quick sale and top dollar. But sometimes fast action doesn’t align with achieving the highest and best value.
There are multiple schools of thought on this subject and the perspective varies not only with where you are in the country, but also by price point, neighborhood and even down to the block. When it comes to pricing and the search for a quick sale, it’s always best to get help from a local agent.
Here are some strategies you can use to get offers fast.
1. The Theory of Under-Pricing
Under-pricing means that you go to market with a list price that is just below what the comparable sales in your area support.
You can’t pinpoint the exact market value of a home until it sells. But before you list, there’s always a range. If you price your house at or below the bottom of the value range, you are under-pricing the home.
In many West Coast markets this strategy will work effectively. Take this San Francisco home, for example: priced at $1.1 million, it received 10 offers and sold for $1.425 million in less than a week.
Risk alert: If you price your home low, this plan could backfire — big time. If you don’t know your market and this strategy doesn’t work, you’d better be ready to accept that list price.
2. Staging and Market Presentation
Well-priced homes that also show well sell quickly. If you want a quick sale, you need to invest some serious time in getting the house ready.
Prepping the home means taking out large pieces of furniture and personal items, painting, replacing carpets, finishing floors and even doing some minor renovations.
Enlist the help of a home stager and take their advice, and you can be assured a quicker sale. The investment of time and money will pay itself back.
Risk alert: If you go overboard on staging or you don’t spend the time and money in the right places, it could be a waste. Don’t make staging decisions in a vacuum. Focus on kitchens and bathrooms, de-cluttering and cleaning. When in doubt, ask for help.