You’re desperate to sell your house. In fact, you need to sell yesterday.
Whether it’s financial stress, or your new job is in another part of the country or overseas, the most welcome sight in the world right now would be the words “SOLD” emblazed in your front yard.
Hence, you are preparing for the real estate equivalent of speed dating.
Just as in speed dating, you know roughly what you want, you need to meet someone who likes what you have to offer, but the last thing you want is to give any hint of desperation.
You are not desperate, but keen.
Don’t panic. Whether speed dating or preparing to sell your house quickly, the key is to remain calm by clearly understanding which factors are in your control, and which are not.
The strength of the economy, employment and income growth in the area are out of your control. Obviously if the housing market is booming, and demand is outstripping supply, your house may sell on the same day it’s listed. But that’s out of your control.
Partitioning these uncontrollable factors in your mind, but being an active participant in the factors within your control, will increase your chance of selling quickly.
So, what are the factors in your control?
Price your property competitively from the start
Pricing your property correctly, right from the start, is without doubt your top priority.
Well-priced does not mean “cheap”, but a price that meets the market. Suitable pricing for selling a property quickly, is what wearing a pleasant smile is to a speed dating night – nothing gets started without one.
A new property listing will attract the most views in the first two-three weeks, and then interest levels plunge. So to sell quickly, you need to take full advantage of this window of opportunity with a price that will attract the most interest. This cannot be overstated. Smile at your market with an attractive price.
If after a few weeks your property isn’t attracting the type of enquiry needed to sell, talk to your Harcourts Sales Consultant about a price drop. Smile wider. The best option is to reduce your price significantly once, rather than incrementally several times, which can quickly build cynicism in the minds of potential buyers.
There is no doubt that the systems, expertise and connections available to you through engaging a professional real estate agent will increase your chance of a quick sale.
Don’t forget your real estate agent not only has a vested interest in selling your property, but doing so quickly. They are on your side.
Talk to your agent about using all the marketing tools available to gain maximum exposure for your property, and make sure these tactics are connecting with the type of buyer more likely to buy.
Open houses are important, but be ready at all times for a showing and second inspections. Follow up your Sales Consultant continually for feedback from potential buyers.
To avoid losing time and effort on contracts that “fall over”, be prepared to discuss the pros and cons of your home openly with potential buyers.
Prepare your house for sale
There are bare minimums that need to be done to ensure a fast sale. At the very least, you’ll have a shower before speed dating. Read more here.
Staging and professional photography
OK … here comes another speed dating analogy. Who goes to speed dating nights in their gardening clothes? Presentation is king or queen. Dress your house in metaphoric fine jewellery, beautiful clothes and spray on Chanel No. 5.
Property staging or styling is the process of using a property stylist to “stage” your property with furniture when preparing for sale. Generally, items are hired for a term of approximately six weeks.
Staging is about building emotional bridges with potential buyers, and through the work of professionals, presenting your property in the best possible way.
By going the next step, and engaging a professional photographer to capture images of your house once it’s been styled, you can multiply the styling effect in the market place.
There’s an old saying about a picture painting and word numbers, and it applies here when great photos of your house are featured across multiple marketing channels. Dress for success! Read more here.
Method of sale
An auction is the go-to sale method for those with a tight time frame, as it gives the vendor a potential predetermined sale date. In a seller’s market, auctioning for a quick sale is a no-brainer.
In tougher markets, there is always a risk that the house will not sell, or you may not meet your reserve, but auctions still increase the visibility of a property in the market place over a short time frame. Talk to your Harcourts Sales Consultant about whether an auction is right for your property.
In searching for solutions for a quick sale, you may come across investment companies that offer to “sell” your house quickly, by buying your house themselves. Often, however, this will be well below the true market value, so beware.
Prepare for after the sale
Do you know anyone who has gone to a speed dating event with a marriage contract prepared, ready to go? Probably not.
It’s an audacious step to say the least, but if your objective is to sell your house quickly and move on, and you are committed to the sale, fast-tracking the conveyancing process makes good sense.
Conveyancing is the legal transfer of property from one person to another. So why not instruct a solicitor or conveyancing firm like Strand to start tackling the administration of the sale by drafting up a contract and applying for title deeds?
Preparing the paperwork that will be needed after the sale of your house beforehand is also a great way to get you in a positive frame of mind.
Like speed dating, selling your property quickly is daunting, and potentially an emotionally draining task. Take the time to plan and prepare with the help of a real estate professional, and understand the factors you can and cannot influence, and who knows – you may quickly find your perfect match in the market.