February 17 2022
"Sometimes selling a property is part of a larger investment strategy, so learn how its done quickly!" - Miguel Nitorreda, Data Analyst
Whether you are financially committed to another property, relocating for a new job, or simply want to capitalise on the strong capital growth in your area, sometimes it’s necessary to sell your house or investment property as fast as you can.
Whatever the case may be, selling your property quickly and at the best possible price can only be achieved by making the right preparations.
By planning ahead of time, your property will be ready once it hits the market and can be snapped up by the right buyers.
Here are our top tips to speed things along and sell your property quickly.
Tips to selling your property faster
- Work with the right agent
If you want to get your property off your hands quickly, having the right people in your corner can make a massive difference.
For most experts, hiring an experienced and knowledgeable real estate agent is the first step to achieving a fast sale.
It’s no secret that selling property can be an overwhelming process. However, if you’re looking for a quick sale, the short timeline can make the process even more stressful.
A real estate agent will help you handle matters from start to finish, from hiring a professional photographer who will take top-notch photos of your property to negotiating for the best price. They also will write up a real estate listing that sells, schedule and host showings, and employ the best marketing strategy for your property.
The ideal agent will know the local market and how it compares with other property markets. They will also have a reputable sales record that proves they know how to walk the talk.
It’s also important to look for someone who is as invested in selling your home or property as you are, which means someone who will tell you exactly what you’re doing wrong and how you can improve it – not someone who will just robotically schedule open houses and do the bare minimum.
Sellers should prioritise hiring a real estate agent that is passionate about their work and is committed to providing their clients with the best outcome. For more information, here is our full guide on how to find the best real estate agent when you’re selling your home.
- Price your home to sell
One of the best ways to sell your property fast is to price it competitively. Remember that for most potential buyers, price is everything.
One biggest mistake sellers make when pricing is that they think their home is worth higher than everyone else’s and expect the market to love it as much as they do.
If you set your price point too high, it may scare away potential buyers from the get-go, and then your home will spend more time on the market.
In the worst-case scenario, having an overpriced property may result in you selling it for less eventually – it will just take a lot longer.
While everyone wants to make as much money as possible from their property sale, it’s important to be realistic.
The first thing you have to do to attract prospective buyers is to make sure that your listed price is fair. Be objective and compare your property to other similar properties that have recently sold or are currently for sale in your area.
You can also have your home professionally valued, and this will give you an accurate price point to begin with.
Listing your home at a reasonable and competitive price will help to generate increased interest and sell your property faster.
- Roll out a full-scale marketing strategy for your property
Nowadays, most sellers think that the only way to market their property is through online platforms.
However, when you’re in a rush to sell a property, it’s important to execute a full-scale marketing strategy that will go beyond virtual advertisement, social media, and online listings.
Remember that buyers come from all different places, and if you want the best buyer and the best price, you must cover all your bases and make sure you have a complete marketing strategy.
Usually, you only get one chance to sell your property right, so have every marketing channel working for you from day one.
Aside from online platforms, make sure to explore the use of traditional marketing channels such as newspaper ads, printing flyers or newsletters. You’d also be surprised how simple signage on your front lawn can drum up interest in your property.
- Declutter, clean, and style your property
Are we suggesting that you declutter and “Marie Kondo” your property if you want to make a quick sale?
We are – but it’s just not us who are recommending it. It’s a consensus among real estate agents that decluttering (in addition to a thorough cleaning of the premises) is a sure-fire way to sell fast.
This is because when buyers scout out properties, you can expect that the first thing they do is to picture themselves occupying the space. However, they won’t be able to do this if your house is a mess.
Give your home a thorough cleaning from top to bottom, get rid of clutter, and hide personal items. Clear crowded shelving units and keep only a few key pieces on display. Stash away magazines, papers, toys, phone-charging cables and other knick-knacks. You’ll be amazed at how clearing all the horizontal surfaces can change the look of a room.
While you’re at it, rearrange the furniture so your home looks inviting and so buyers can move through your home without bumping into anything. If necessary, put bulky items in storage. A crowded room looks like a small room.
If you’re not really into interior decorating, consider hiring a property stager that will showcase your home and its best features, impress potential buyers, and sell it quickly for the best possible price.
Property styling, or home staging, is relatively new in Australia. It focuses on maximising the space for appeal and flow. It can involve anything from tidying up, decluttering certain rooms and adding a few cosmetic touches (partial home staging) to a full service where a dedicated home staging service brings in their own furniture and accessories.
Home staging can be expensive, but it can also be worth the cost. A recent study showed that property staging could earn you between 3 per cent and 10 per cent more on your sale price.
Property staging was also shown to improve sell times, as the study revealed 49 per cent of staged homes sold in the first week.
Make sure to consult with your real estate agent before working with home stagers or property stylists.
- Boost your curb appeal
If you want to sell quickly, then it’s essential to make a good first impression.
The first thing a buyer sees is a home’s exterior and how it fits into the surrounding neighbourhood. If prospective purchasers look at a photo of a house or drive by and find the outside is not appealing, oftentimes, they don’t even bother to come inside.
Here are ways to boost your curb appeal:
- If there is a yard, mow the lawn, rake dead leaves, sweep pathways, weed garden beds.
- Clean the front fence and make sure that the gate swings open easily.
- Remove garden waste and gardening equipment.
- Strategically position and arrange any outdoor dining furniture.
- Paint the front door.
- Wash windows.
- Fix broken light fixtures and mailboxes.
- Plant colourful flowers.
- Trim surrounding trees and shrubs
Keep in mind that a tidy exterior not only looks nice but also tells potential buyers that you’ve taken good care of the place.
- Do quick repairs
Because you’re in a rush to sell your property, you will not have time to undertake any major renovations.
Even if major renovations are out of the budget (or the time constraints), you can focus on quick repairs that could deter potential buyers.
Survey the property and take time to fix up minor issues, which can include:
- Fixing loose tiles
- Tightening leaky faucets
- Touching up paint
- Tightening door knobs and handles
- Removing carpet stains
Depending on how much time and money you want to spend getting the home ready, you might also want to update fixtures, purchase new appliances, and install new hardware on the cabinets.
Paying attention to the details and taking care of small issues can really make a difference, as there’s nothing worse for potential buyers than viewing a property and noting all the little things they need to take care of before they move in. Don’t give buyers any reason to think there’s lots of work to be done that will cost them both time and money.
- Get feedback
If you have owned a property for a long time, chances are you are accustomed to how it looks and feels. This familiarity often makes it harder to see detractors such as potential problems with curb appeal, or even odd smells as you walk inside.
A trusted friend or acquaintance might be able to remind you to trim that overhanging tree, tidy up the garden, or give the carpets a deep clean. This is also when a perceptive real estate agent can lend a hand to provide feedback.
It’s also important to acknowledge the feedback that may come from potential buyers and their perspectives of how much your property is worth.
For example, you have encountered buyers that were ready to buy but chose not to go with the purchase after inspecting your property. These buyers are usually savvy and often not prepared to compromise. They will also provide fairly accurate price feedback because they see it for what it is and have no emotional connection to your home.
Make sure your real estate is always following up with buyer’s agents to get their opinion on the property and finding out what buyers liked or didn’t like about what they saw. Then use that feedback to make changes as necessary.
In some cases, you may meet buyers who are interested in your home, but they will lowball you on the property. They will usually give slightly lower price feedback initially because they are interested, but they are trying their luck.
Instead of ignoring these offers, respond with a reasonable counteroffer – at least then, it’s up to them to walk away or to continue the conversation if they have a genuine interest. This is where the right agent will help you hold your nerve and negotiate your way to the best outcome for both parties.
Sellers need to be realistic that not everyone is going to love their property. Don’t get discouraged when you get feedback about your property. The important thing is to take them in stride and make the necessary changes to position it for a successful sale.
- Be ready
The main trick to selling a property fast is to be ready at any time for any request from potential buyers.
Be prepared to accommodate any prospective buyer that comes your way, especially those who want to make a last-minute viewing. Remember, it only takes one to make the sale!
Unless it’s truly impossible, rearrange your schedule around what’s ideal for the buyer, not what’s ideal for you. If you suggest a new time than what’s requested, the buyer or their agent may not be able to make it work and so may just pass on visiting the property entirely.
Source: Smart Property Investment