The housing market is challenging. Interest rates recently hit a 22-year high. It’s forcing many potential homebuyers to sit on the sidelines waiting for something else to happen. But inflation is higher, and the Fed seems to be uncertain about where the market is going.
But if you are trying to sell your house right now, it’s probably not by choice. Selling is probably a necessity. What can you do to improve your chances of moving your house quickly? The good news is there are things you can do to move your house now!
Statistics show that some houses are moving, so how do you improve the odds that your house is one of the houses that sells fairly quickly.
Bankrate recently recommended five items for your consideration to move your house more quickly. (See “How to sell your house in 2024: A step by step guide” from https://www.bankrate.com/real-estate/how-to-sell-your-house/ )
Bankrate listed five positive steps to selling your house quickly:
- First, set a timeline
- Two, hire an agent
- Three, determine upgrades
- Four, set a realistic price
- Finally, list with pro photos (emphasis added)
Unlike in years past, the first point to understand is that the entire selling process may take several months. Don’t expect to have it go on the market and have multiple people bidding the price up. Those days are gone.
Second, do find a professional agent to help guide you through the process. A professional real estate agent knows the market. Knows how to stage your house and will represent you to get the maximum value on your home based on current conditions.
Step three is only take on upgrades that will actually improve the value of your home. Here a professional real estate agent may prove invaluable. Maybe you’ve had projects. You’ve been putting off for ages. But if it’s something that doesn’t really improve your valuation, then put it off awhile longer.
Four, have a realistic price in mind. Here you have to try to be objective. Sure, Fred’s house down the street sold for $1.5m but is yours really the same. By the way, Fred had an additional bedroom and bath and a four car garage compared to your two car garage. Fred had all new appliances and new floor coverings throughout the house. Depend on your agent to determine the true value.
Finally, make sure you use a professional photographer to compliment your listing online. Another recent poll showed that 100% of buyers will look online first to see what’s available. In the 21st century, that means professionally staged rooms to show all the extras in yours. And now it can include virtual tours and drone videography.
Why a virtual tour and drone videography? Because you want to be one of the houses that moves quickly. A virtual tour and drone videography can generate excitement and is definitely 21st century. The widespread use of commercial drones is a 21st century phenomena. Buyers can see and “feel” like they could live in your house without stepping in the door. That sets you apart from the competition. That’s exactly what you are looking for in this extremely tight market.
