Selling a home can be challenging for homeowners, especially when the real estate market is down. However, with the right strategy and preparation, homeowners can sell quickly even in a slow market. Here are his top 3 secrets to sell your house fast in a down market:
Price it Right
Pricing is crucial when you decide to sell your house fast in a down market. Overpricing is one of the biggest mistakes homeowners make in a down market. Homes priced too high will sit on the market for months. Work with a knowledgeable realtor like Steve Augustine to determine the right listing price based on recent comparable sales and current market conditions. Pricing competitively right from the start generates interest and offers. It’s better to price slightly below market value to attract more buyers than go too high and get no offers.
Stage it Well
Steve Augustine knows a well-staged home will stand out and sell faster. He advises homeowners to declutter and deep clean every room before listing. Pack away personal items and family photos so buyers can imagine themselves living there. It is also recommended to make minor upgrades like painting walls neutral colors, updating light fixtures, and replacing old cabinet hardware. Freshening up the exterior by mowing the lawn, trimming bushes, and adding flowers can also make a home more appealing. Investing a little money into staging can pay off with a quicker sale.
Get Your Home Ready Offer – Sell Your House Fast in a Down Market – With the Get your Home Ready Offer, you could choose to have up to 1% of your listing price upfront prior to listing to cover any home upgrades required to maximize your sale. Upgrades made easy, such as painting, new carpet, home staging, or any other minor upgrades to better showcase your home
Market it Widely
In a slow market, Steve emphasizes casting a wide net to find interested buyers. He works closely with clients to maximize exposure for listings. High-quality photos and a detailed description are a must. Promoting on social media and asking friends to share the listing is important. It is also advised to hold both in-person and virtual open houses.
Sunday Tour of Homes – Here’s how it works: Register here and get your name on our tour list! Our tours start at 2:00pm Sundays, you can meet us at any home on the tour or come and see them all. Feel free to drive by the homes before their scheduled tour times, but once the tour starts, don’t be late for the one(s) you want to preview.
Being proactive with marketing and promotion will help connect with buyers even when active searching is down.
Implementing these strategies takes effort, but the payoff will be selling a home faster. Let’s look at each tip in more detail from Steve’s perspective:
Price it Right – How to Determine the Optimal Listing Price
Setting the right price sounds straightforward but requires research and analysis.
- Your Home Sold Guaranteed Realty Elite - The Augustine Team examines recent comparable sales in the neighbourhood, ideally within 1-3 months. We look at location, size, condition, and features compared to the client’s home. This helps determine current local demand.
- With our experience tracking home sales and prices, Your Home Sold Guaranteed Realty Elite - The Augustine Team can advise competitive pricing based on market demand and inventory cycles.
- In some cases, it is recommended pricing 7-10% above the minimum acceptable selling price to allow wiggle room for offers and counteroffers.
The key is taking emotion out of pricing and letting market data and home valuations guide pricing strategy. Proper pricing sells in current conditions.
Stage it Well – Low-Cost Tips to Prepare Your Home for Sale
Staging makes a big difference in showcasing a home to potential buyers when you want to sell your house fast in a down market. Here are budget-friendly home staging tips:
- Declutter every room so they look spacious and tidy. Store excess furniture and personal items off-site.
- Give every room a deep cleaning – clean windows, carpets, walls, floors so all surfaces are spotless.
- Depersonalize by taking down family photos and removing personalized decor. This lets buyers envision it as their own space.
- Make minor repairs like fixing leaky faucets, patching holes in drywall, and painting over scuffs.
- Paint walls light neutral colors if needed. Stick with white, gray, beige. Avoid bold colors.
- Replace outdated light fixtures and cabinet hardware for an updated look.
- Curb appeal matters, so mow the lawn, trim bushes and plant flowers up front.
- Hire a cleaning service to do a one-time deep clean right before listing.
Well-staged homes sell faster and for a higher price. We help clients take advantage of empty space when prepping for sale.
Market the House Widely – Creative Ways to Promote Your Listing
To maximize exposure and sell your house fast in a down market, homeowners should work with Your Home Sold Guaranteed Realty Elite - The Augustine Team and be proactive using their own networks and creativity to generate interest and market the house.
– Share the listing on social media. Ask friends and family to share it too.
– Create a visually appealing yard sign with a QR code linking to the listing.
– Host traditional and virtual open houses on Facebook Live.
– Provide marketing deliverables like brochures and home booklets to generate excitement.
– Advertise open houses in local media and online community calendars.
– Video home tours help buyers view the listing 24/7. Post on social media and YouTube.
Sell Your House Fast in a Down Market – Call Your Home Sold Guaranteed Realty Elite - The Augustine Team!
Promoting a listing across different platforms is key when the market is slower. Don’t wait for buyers to find the listing – get creative in marketing it proactively.
Steve knows using these strategies will maximize listing exposure to sell quickly even in a down market. But patience is also needed – a slower market means more time to find the right buyer. Competitive pricing and active marketing will secure a buyer who sees the home’s value.
If you and your family are ready to sell a house fast and get top dollar, be sure you are working with the best realtors – Your Home Sold Guaranteed Realty Elite - The Augustine Team. We have the experience, knowledge, and skills necessary to get the job done right and make sure you have the least stressful home selling journey possible.
Get ready to start packing!