Selling your house in a slow market is never easy. And, if you’re after a quick sale, waiting for offers to roll in can be a stressful experience, to say the least, especially if you’re on a tight deadline to move or get out from under crippling debt.
If your local real estate market is ‘slow’, saturated, or simply on a downtrend, you’ll have your work cut out for you. That said, selling a house fast in a slow market isn’t out of the question.
With a positive attitude, a little bit of effort, and a willingness to explore alternative options (such as cash buyers), a slow real estate market doesn’t have to mean your home sits unsold for months.
Below we take a closer look at some of the changes you can make to attract potential buyers fast, and tactics you can use to help your home sell quickly even if the local market isn’t on your side.
🔹Tips on Selling Your House Fast in a Slow Real Estate Market
We never said it would be ‘easy’, but if you put in the effort, it IS doable. And if you’re looking for a turn-key, simple and straightforward way to sell your house for cash fast, Unload My Home can help.
We specialize in helping Florida homeowners get out from under their properties quickly, no matter the market or time of year. And best of all, we purchase homes “AS IS” with no required cleanup, repairs, or clearing out junk or anything you don’t want to take with you.
Within days we can get an offer in hand and cash in your pocket. But before we get to all of that, let’s explore your options. After all, even if you don’t sell to us, we want to help make sure you have a game plan to sell your house as quick as you need to.
With that in mind, let’s dive into your options…
1. Make Your Home Look Appealing
Preparing your home and making it as attractive as possible to potential buyers is essential for a fast sale in a slow market. Buyers will attend any number of showings and you want your home to stand out from the crowd.
🔸Declutter
Decluttering is a great way to make the interior as appealing as possible.
🔹Hire a storage unit and pack away bulky items of furniture and any belongings that make rooms look messy and crowded.
🔹Put away any personal keepsakes, such as family photos and religious items. People need to imagine themselves living in the house, which is easier to do if they’re not distracted by portraits of your family and pets.
🔹Organize closets, cabinets, and the panty. Storage is very important to potential buyers, so expect them to open every door to have a peek. Leave shelving space empty to give the impression your home has plenty of extra storage.
🔸Hire Stagers
To turn your property into a desirable home for potential buyers, pack up your belongings completely and hire a stager. It’s what many real estate agents do when they want to sell a property fast.
Stagers will bring in their own furniture and accessories and arrange them to help make rooms appear bigger. They define different rooms and spaces and highlight the best features to give a property the homey, welcoming feel that buyers are looking for.
🔸Repairs
You may not have time to do major upgrades and renovations. However, it’s worth taking the time to do small repairs both inside and outside the home. The fewer issues a potential buyer sees when touring a property, the more interested they’ll be.
🔹Fix leaky faucets.
🔹Replace loose door handles.
🔹Tighten hinges on closet doors.
🔹Patch up the paintwork where it’s been scratched or is peeling.
🔹Replace light bulbs that aren’t working.
🔹Replace broken tiles.
If you can afford some time, give the interior of your home a new look with a coat of paint. Sticking to neutral colors will make your home appear clean and fresh. Buyers can then use their imagination to see how they could put their own stamp on the decor to make the house their own.
🔸Deep Clean
Go through the house and give it a good deep clean, from the bathroom tiles and kitchen cabinets to the baseboards and carpets. A clean home is one that buyers will assume has been well-kept and is therefore in good condition throughout.
🔹Add Curb Appeal
🔹First impressions are key to selling your home fast so it’s worth spending a couple of days sprucing up the exterior of your property. A well-maintained and attractive front yard will add curb appeal when people drive past or first arrive for a showing.
🔹Trim back overgrown trees, hedges, and shrubs.
🔹Mow the lawn.
🔹Plant some flowers.
🔹Paint the front door.
🔹Clear away spiderwebs from the front porch.
🔹Clean the windows and window frames.
2. Price Your Home to Sell
Hoping to sell your home within the desired timeframe is tricky in a slow market, especially if it’s a buyers’ market. To help speed up the process, ensure your home is priced competitively for the area. An overpriced property is likely to remain on the market for longer, and, in the end, you may have to accept a lower price anyway.
Look at similar homes in the area and see what they’re listed on the market for. If properties have been available for a while, chances are they’re overpriced, so consider pricing your home conservatively. Shaving a couple of thousand dollars off your desired amount could generate more traffic and ultimately help you sell your home quicker.
3. Hire a Real Estate Agent
Although hiring a local real estate agent will cost you at least 3% of the purchase price, there are benefits to bringing one in if you’re after a quick sale.
Realtors generally know the local market and can advise you on the best strategy to get your home sold as quickly as possible. They’re also knowledgeable on all the regulatory ins and outs and can help streamline various processes, such as preparing contracts, negotiations, and closing.
4. Sell to Cash Buyers for a Fast Sale in a Slow Market
Major repairs and remodeling on parts of your home will delay getting your home onto the market. If you’re looking to sell as quickly as possible, consider selling to cash buyers, such as Unload My Home.
Cash buyers purchase properties as seen, so there’s no need to go through the time and hassle of renovations. The price they pay will reflect any work that needs doing. But, once a deal is agreed, the sale can go through in as little as two weeks.
Another benefit of selling to cash buyers is that there’s no chain, so no waiting for another property to sell. You don’t have to worry about showings and strangers nosing around your home. And, once sold, all the equity in the house is yours as there’s no need to pay commission to a real estate agent.
5. Hire a Professional Photographer
For a couple of hundred dollars, it’s worth hiring a professional photographer to capture your home at its best. When potential buyers search listing sites, photos are the first thing they’ll look at so it’s essential that yours are better than ones snapped with your smartphone.
Many real estate agents include taking photos as part of their services, so check if you decide to use one. Also, find out if the photographer can do a 3D virtual tour of your home. By posting a virtual tour to a listing, buyers can instantly get a feel of what it’s like walking through the property.
6. Be Aggressive With Your Marketing
You need to get your property out there if you want to sell fast, especially in a slow market. Use multiple listing services and use great photos that highlight the interesting and unique features of your home.
Advertise in the local papers and on social media sites, and don’t be afraid to get friends, family, and neighbors involved.
Place signs and flags outside your home to get people’s attention. Produce a flyer that can be placed around your neighborhood with photos of your property from all angles and a link to the listing or the 3D virtual tour.
7. Offer Flexible Showings
If you want a quick sale, it’s important to be as flexible as possible when it comes to showings. You need buyers to see your home in order for them to consider making an offer, so try to be as accommodating as possible to requests.
It may mean you need to keep your property clean and show-ready at all times. But, it’s worth it to welcome potential buyers to take a tour on their schedule. After all, you only need one buyer to purchase your home.
🔸 Hold an Open House
Holding an open house at the weekend is a great way to help sell your house quickly by drawing in multiple buyers in one go. Prepare the best you can by cleaning thoroughly. Maybe place fresh flowers in the lounge and bedrooms and place a few sweet treats in the kitchen or dining room for people to help themselves to. These small things should help buyers remember you and your home.
And, if you’ve prepared flyers, be sure to have them on hand to give out to everyone once they’ve finished their tour.
How To Sell Your House Fast in a Slow Market: final thoughts
Selling your home when the real estate market is slow can be tough. These are just some of the ways you can help your property sell faster than others. If time is very limited, consider selling to a cash buyer for the quickest sale possible. But, if you can afford to put in the time and effort, there are plenty of ways to improve the prospect of your home selling fast.