Perhaps you just accepted a job overseas and need to sell your home quickly. Or, maybe you are going through a divorce or you are looking to sell an inherited property. Whatever the reason, selling a property quickly can be challenging. Typical sales take up to an average of 25 weeks, but it is possible to do it in 12 weeks or even less with the right plan (and a bit of luck). Below, we share seven tips on how to sell a property quickly and still get a good deal.
#1 Price competitively
If you want to sell quickly, then you may have less time to wait for buyers. The urgency means that you have less power to set your price high and bring it down later if you are not getting enough interest. Research your local property market to see what other properties, similar to yours, have sold for recently. Consider setting your own price at or even below these figures. This is more likely to generate a “buzz” from buyers. If enough people are interested, you could even push the price up slightly in a final offer to a particular buyer.
#2 Spruce up
The more attractive your property looks – both inside and outside – the more likely it is that buyers will take an interest. Make sure everything is clean and properly maintained. Declutter rooms and consider “depersonalising” (e.g. removing artwork which invites subjective taste). Making small improvements, particularly to your front door, can also go a long way. Pay particular attention to the lighting in your home during viewings. Dark corners might benefit from a lamp. You may also wish to open the curtains and windows to rooms that receive lots of sunlight. Remember, you are trying to evoke a positive emotional response from the viewers.
#3 Be flexible
Looking to sell faster? Try and work around the schedules of your prospective buyers when it comes to viewings. You cannot be as demanding for people to work around your lifestyle. This may involve taking some time off work at short notice. If you can time your sale during a good stretch of holiday, such as the summer, this can help give you flexibility. Those who work from home, or their partner is based at home, will have an advantage here!
#4 Be communicative
If you are the type of person who takes a while to respond to texts, emails and other messages, now is the time to make a greater effort to be responsive. Replying quickly to prospective buyers will help them feel important (helpful, as any salesperson knows!) and can help move everything faster towards a close of sale. Keep buyers informed throughout the process and be proactive with your communication. Work on listening, empathetically and actively, paying attention to what buyers are saying and showing interest. Show that you recognise their feelings and perspectives even if they want something that you cannot give.
#5 Consider incentives
Offering certain “extras” to buyers can help to get them over the line. For instance, you could cover their legal fees or include furniture or window coverings. Incentives can be a smart marketing tactic, but they can also waste money if you are not careful. Do not assume that a specific incentive is legal (check with a real estate agent). Also, buyers may be put off if they see the offer as a gimmick to mask too high of an asking price for the property. Be careful not to make an offer that causes you to appear desperate. This might lead buyers to suspect that problems are being hidden about your home, or that you have “seller anxiety” and so make a lowball counteroffer. If you are going to use an incentive, consider using one that adds value to your home or helps to neutralise a clearly-communicated flaw.
#6 Hire a good agent
Whilst it is possible to sell a property yourself, it can speed everything up to work with a good agent. They will have the infrastructure in place to rapidly take your property to market, as well as an existing network of contacts that could be interested. An agent can also help you get the paperwork together early and complete the right documents. Consider asking the agent if they employ someone dedicated to sales progression. This person’s main role will be to regularly speak with sellers, buyers and legal representatives to keep everything on track. Remember, it is in the agent’s interest to make the whole process go as smoothly and fast as possible (since they are paid upon sale completion).
#7 Be patient
It is easy to get frustrated with a lack of buyer interest or progress when trying to sell your property quickly. Yet getting impatient can lead to mistakes, such as getting too pushy with a buyer or lowering your asking price by too much. Be realistic with your expectations and acknowledge that selling a property takes time, even with the best of plans.
The content in this article was correct on 26/05/2023.
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