Over the past year, the Australian real estate market has been very competitive, rising home costs between 15-24% in big cities such as Brisbane, Melbourne and Sidney. During the specific pandemic circumstances, the booming market hasn’t seemed to raise concern for remote auctioneers and expats investing in Oz homes, and the demand is only growing. Usually, houses don’t stay for too long on the market, so selling them is relatively easy. Still, sometimes you need to speed things up even more. With that in mind, here are 5 tips for selling your house in a hurry.
Estimating and setting the home value
When selling your home, you need to be realistic and objective from the very beginning of the process. Maybe the property has no price tag, in your opinion, but it’s essential to decide on one. Naturally, you don’t want to undersell it. Exploring the local housing market should be the first step in your endeavor. The internet can help you compare your home with similar houses in the area, which will help you set an approximate price. Try making it a round number since people use specific price points while filtering the search. If you, for example, estimate your home value is $956,000, you might miss a lot of potential buyers who are setting up the price point up to $950,000.
Finding a reputable real estate agent
Navigating the housing market can be complicated if you have never had to engage in such a procedure. If selling your house in a hurry is your goal, make sure to find an expert who can make that happen for you. Do a little research about the most reliable real estate agents in the area, and find the one with a good reputation. Their fees might cost a bit more, but if you have a short timeframe to find a new owner for your home, you might have to sacrifice a few dollars for it. Hiring a great agent will speed up the entire process, and they will even give you step-by-step guidelines through it, from presenting the property to negotiating and scheduling the showings.
Making quick repairs and improvements
Even when selling your house in a hurry, certain home improvements should not be neglected. That means making changes that will add extra value to it. Usually, home sellers invest in remodeling the kitchen and bathrooms - the upgrades that raise the price the most. However, if there is no time for extensive renovations, focus on things like:
• Painting walls,
• Polishing floors,
• Refreshing the entrance,
• Affordable curb appeal improvements,
• Upgrading appliances,
• Replacing the lighting,
• Keeping everything spotless.
If you want to save money, you could do most of these things by yourself. Alternatively, you can ask for help from your friends or family. However, remember that you don't have a lot of time and that renovations often come with many unforeseen circumstances. Since you will likely need to plan a relocation on top of selling your home, you have to be on the lookout for common last-minute moving mistakes. Luckily, there are ways to avoid these problems - a reliable moving crew by your side is certainly one of them.
Staging and presenting
Presenting your home in the best light is essential if you want to attract potential buyers and get the best deal. You can pay a home staging agency to do the work for you, which can cost $3,000 to $15,000, or you can stage it on your own in a more budget-friendly way. If you opt for the latter, remember the golden rule - clean, declutter and depersonalize. A clean and presentable home will ensure the best first impression, and depersonalizing it will prevent the potential buyer from feeling like they are stepping into someone else's life.
Since most home searches are made online, presenting your property with quality photos is the key. Even though phone cameras can provide decent images, opting for a professional photographer is always a good idea. With amazing images and videos, you will also have to dedicate some effort to writing attractive listing descriptions. Needless to say, effective keywords that will draw in potential buyers are essential. If you target a specific market, for example, families, make sure to mention the features that will benefit such buyers the most.
Consider home buying companies
When selling your home fast, you might need to consider a cash offer. Even with the best deals, sometimes it takes months to close the sale. Additional factors such as home inspection and lender appraisal might add some more time to it. Luckily, these are not your only options. Alternatively, you can make a deal with real estate investors or a home-buying company. This will significantly shorten the sale - you could even finish everything within days. If you opt to work with such companies, you won't have to deal with home improvements, curb appeal, or risk the buyers' mortgage outcome. However, you might get less money for your house than you'd like to.
Selling your house in a hurry is no easy feat. You often need to make compromises to get the best deal as soon as possible. Still, the most important thing is to set an attractive price and show your home's best features. Keeping the property clean and presentable during the viewings might require a bit more effort. In the housing market, much like in life, the first impression is often the deciding factor. If they see exactly what they are looking for, buyers will be tempted to close the deal!
By Betty White