The Art of Selling a Home: 5 Practical Tips for a Quick Sale
Jul 18, 2023
Whether you are relocating or ready to move to a bigger space, selling your house can be a Herculean challenge!
However, we are here to help you with the process so you can make a quick sale, and that too, at a competitive price. Read on to find out 5 tips for a quick sale.
1. Find the right real estate agent
Finding an efficient realtor to sell your house will be one of the most important tasks you’ll have to do along this journey. You can try selling your house yourself, but a realtor will speed up the process and help you make a quick sale.
To look for a decent realtor, search up agents in your area and determine their competence by looking at the following:
- Reviews: Analyzing reviews on online platforms such as real estate websites can help you determine what others think of a realtor.
- Knowledge of your area: Look at the agent’s previous sales to determine whether or not they have experience in your area. Agents who don’t usually deal in your area would lack insider knowledge and would not be able to make a quick sale.
- Price range: An agent who sells within a lower price bracket would not have relevant expertise to deal with your listing. On the contrary, one that deals with a luxuriously high price range would not give your property the attention it deserves. Therefore, make sure the agent you choose has some experience selling near your home’s estimated value.
In terms of the costs of hiring a real estate agent, commissions can be negotiated. They typically run about 5 percent to 6 percent of a home's sale price.
Side note: From repairs to agents’ fees, selling your house brings along certain costs. Be prepared and get a better idea of the exact payout you’ll make by reading Westpac's guide on the costs to sell a house.
2. Set a competitive price
Setting a fair price for your house can be a tricky task. But the more appropriate your price is, the quicker you’ll sell. Here are a few considerations:
Property located in desirable areas, such as near schools, shopping centers, and parks, would have a higher value. If your home is away from these amenities, you should expect buyers to use this as a negotiating point.
If you have recently made upgrades, such as a new kitchen or tiles, the value of your house would automatically go up.
Look at recent sales of comparable homes in your area to get an idea of the market value of your property. This information can be accessed through online property websites.
You might also want to get a professional opinion by consulting an appraiser, whose job would be to set a competitive price for your house by taking in account the aforementioned factors. To help you with the process, here are some tips on how to prepare your home for an appraisal.
If you want to make a quick sale, your house must look appealing at the first glance. Therefore, make sure to do a thorough cleaning to make it look presentable.
You want to tuck away bulky items in the storage, as a congested space will make your house appear smaller.
Moreover, you can hire professional cleaners to facilitate the process, especially prior to an important showing. The average cost to hire a house cleaner is about $230, depending on the number of bedrooms and bathrooms, as well as the square footage.
Another tip would be to utilize services offered by a professional stager, who would rearrange your furniture in a way that would make your house look spacious and tidy. The average cost for most stagers is $300 to $600 for an initial design consultation. And while this might seem like a costly investment, it’s worth it.
That’s because the National Association of Realtors (NAR) estimates that, on average, staged homes sell 88% faster and for 20% more than non-staged homes.
However, if you are running low on budget and do not want to seek help from professionals, you can DIY declutter your home. Here’s a home declutter checklist for a quick sale.
4. Focus on minor repairs
Major renovations can be costly, time-consuming, and are often unnecessary. Therefore, a more cost-friendly and effective approach would be to focus on quick repairs that instantly increase the value of your home.
So survey your house and take care of easy fixes, including:
- Fixing loose faucets.
- Patching small cracks in walls.
- Repainting walls in neutral colors.
- Fixing broken handles and knobs.
- Replacing cracked tiles.
These are just a few examples. Here are some more home fixes you must complete before selling.
For the average cost of these repairs, you can use the 1% rule. It states that you must set aside at least 1% of your home’s value each year for maintenance and repairs.
5. Make the exterior look appealing
If you are looking to make a quick sale, you must impress potential buyers at first glance. And the first thing they would notice would be your home’s exterior. Therefore, making the exterior look appealing is an important step to making a quick house sale.
Start with paint touch-ups, window cleaning, and door cleaning. You can also swap out your address numbers or door handles for newer, more attractive replacements. Moreover, clear out any uneven paths and prune overgrown bushes near your curb for a cleaner look.
These quick fixes can make a big difference as you can interest buyers with a good first look.
Selling a house can be stressful, even more so if you are on a rigid timeline. The bottom line would be to focus on buyers’ first impression. Therefore, make seconds count with a decent agent, appealing exterior, tidy interior, and a competitive financial offer. Good luck!