Under normal circumstances, selling a house is a process. It can take a fair amount of time to research the market, prepare your home, arrange for showings, and negotiate for the best offer. Since spending more time on each step can mean earning a higher amount, it makes sense to begin planning well in advance.
However, sometimes your circumstances are the polar opposite of “normal.” Sometimes, you want or need to get your sale over with as fast as humanly possible. A job offer, health issue, or change in family situation can all add a sense of urgency to the transition. This leads us to the question: what can you do to fast-track this entire process so you can begin your next phase in life? In this post, we’ll outline the steps to getting your house on and off the market at record speed.
One of the keys to a fast and successful home sale is to have all of the steps planned out in advance. Our detailed seller’s checklist can help you stay on track. Download your copy right here.
Beware of Shortcuts
It may seem counterintuitive, but you actually want to avoid many of the tricks and hacks you may hear about. Have you ever planned to follow a specific route when driving to an unfamiliar destination, then someone comes along and offers a “shortcut”? Unless you’re blessed with a stellar sense of direction, that detour will end up taking longer by far than if you’d just stayed with the tried and true.
The same thing can happen when selling your house. For example, imagine you try to speed up the process by offering a price below market value. You’d think potential buyers would line up for the deal. However, more often than not, they’ll avoid your listing because they imagine your house is full of unwelcome surprises. In the best-case scenario, you earn less from your sale than you should have because buyers may have happily paid more.
Another common mistake is to use images from your smartphone rather than booking a photographer. Hiring a professional means setting an appointment and will cost some money. Why go to the trouble when you can have pictures ready to upload in a matter of minutes?
Keep in mind that your listing photos are the primary determining factor in whether a potential buyer decides to visit your home in person. If your listing doesn’t instantly pop, your house will likely sit on the market.
Do you want to get your home ready to dazzle potential buyers without investing a lot of time or money? The resources below can help:
- Should You Renovate or Sell Your House As-Is?
- Beyond Staging: Adding the Most Value for the Least Effort
- Selling a House in Peterborough From A to Z
Streamline Your Home Preparation
Taking shortcuts can be detrimental to a fast sale. However, streamlining is a different story. Sometimes, there are stages in the home preparation process that you can simply skip with little to no impact on your sale.
Substantial kitchen repairs, bathroom remodels, and brand-new hardwood flooring throughout can all capture a buyer’s attention, but they all take a significant amount of time and money. Unless they are in particularly bad repair, you might be able to forgo them in favour of a few minor touchups. When you know what steps to focus on and what you can skip, you can streamline the process and often sell your house quickly without losing value.
If you need to sell your house quickly with the least amount of work, expert guidance is a must. Here’s What a Concierge Realtor® Can Do to Sell Your Home.
Know What Compromises to Make
Some shortcuts must be avoided at all costs, while other projects end up being entirely unnecessary. There is also a vast middle ground where you’ll need to decide what compromises you’re willing to make to achieve a fast sale.
Imagine your home needs a substantial upgrade to make it show-worthy, such as a roof repair. Performing the work ahead of time will make your house more appealing to potential buyers, but it’s also one of the most time-consuming and expensive renovations to make. If you don’t want to get involved, you may need to be prepared to offer a price concession so the buyer can arrange for their own repair.
Booking a pre-inspection can help you determine what upgrades will have the most impact. From there, you can decide if you want to take the time or if you’ll leave it in the buyer’s hands. A local real estate agent can review the potential advantages and drawbacks with you so you can choose the best path forward.
At the very least, be sure to clean and declutter your house thoroughly before posting photos or allowing buyers to book showings. Even this minor step can help you stand out against competing homeowners in your area.
If time allows, consider a fresh coat of paint and a few minor repairs. They won’t need a significant commitment, but these small updates can dramatically increase your home’s appeal to potential buyers.
Have a Contingency Plan
As much as you may want a fast sale, the real estate market doesn’t always cooperate. Some markets favour buyers, in which case they will take their time evaluating all of their options. Remember that all you can do is your best in any situation, and it’s critical to have a backup plan if things don’t go accordingly. Start by assessing the reason you want to sell quickly. You may find a workaround for your situation that resolves the issue.
- Are you planning to buy a new home even before yours sells? If the market allows it, you might protect your interests by placing conditions of financing or sale of existing home. Either of these will give you some breathing room if it takes longer to sell than you thought. Alternatively, you could choose the typically safer path of selling first and then searching for your new house.
- If you need a fast sale because you’re leaving the city due to a job offer or family issue, remember that you still have options. Modern technology and a full-service real estate team make it possible to sell your house even when you’re not in the same city.
- In some cases, a client may be in a dire situation where they need a fast sale at all costs. A minor price concession or added incentives can help to pique buyer interest. Just be sure to work with an experienced real estate team so that you get a fair deal for the market.
Some selling situations are more challenging than others. The posts below will help you rise to any occasion:
- Can You Sell Your Peterborough Home Remotely?
- How To Make Selling a Home Easier During a Divorce
- What Are the Best Practices When Handling an Estate Sale?
Remember the Strength in Numbers
Have you ever considered that you could enjoy a fast sale without sacrificing anything on the value of your home? Preparing for the market, doing the background research, showcasing your house, and negotiating with potential buyers can seem like an overwhelming process. However, remember that you don’t have to do anything alone.
Connecting with a real estate team with an excellent reputation in the area is your first step. If they are well-established, they’ll have a network of other professionals who can help you get your house show-worthy quickly and efficiently without a lot of effort on your part. Earning top dollar while experiencing a hands-off process may seem like a dream, but anything becomes possible when you have a team of experts on your side.
Are you selling a house in Peterborough or Kawartha Lakes? Our Peterborough real estate agents are happy to help you build your strategy. Reach out to team@jeffandkatie.ca or call 705-243-9797 to start the conversation today.
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