Selling a single family home is not an easy process and can be very slow and confusing the first time around. There are so many things to consider when preparing the home to be sold as well as how you will attract buyers quickly. The buyer will visit looking for a number of different requirements that are locked in their heads and you cannot possibly predict. Finding the right interested buyer quickly means we need to bring in as many people as possible to look at the house.
We all know that fast is associated with cheap but this is not necessarily the case with selling property. We want to sell the house fast but not compromise on the price.
How to sell a house fast? Fast is considered any method that brings in more potential buyers. Some ideas include signs in the front yard or on your car, online classified ads and web based services, virtual tours and using creative methods to help out credit challenged buyers.
In real estate the longer a house is on the market the more it affects the price for the seller. What usually happens is the listing is removed and price reduced then relisted. We compiled a list of ideas that are focused on selling your home quickly without heavy fees or a large amount of time and effort to avoid dropping the price.
Clean The House and Stage It For Sale
The first phase of selling a house quickly is to clean and stage the house for buyers to do a walk though. Whether the home is currently occupied or you have already moved out, clearing the clutter and cleaning all surfaces will help when there is an unscheduled visit to look at the house.
Staging the house is where you clear out your possessions and present each room in a more attractive way to the buyers. Each room will be staged based on a purpose with an ideal look and furnishing. For example the living room might have a simple couch set, some matching chairs, art hanging on the wall and some flowers to brighten the room. Focus on the most important rooms first and get some inspiration from a google image search.
Important Rooms in Order:
- Living Room
- Kitchen
- Master Bedroom
- Dining Room
- Bathroom
- Children’s Bedroom
- Guest Bedroom
The curb appeal is the first thing a potential buyer will see os it is important to keep the front of the house looking presentable to all visitors. Rent a pressure washer and wash the outside of the house, driveway, windows and any walkways in the front and back of the house. Be sure to have the lawn mowed and the house number should be visible and preferably lit up too. The worst thing to hear is that they came to look at the house and could not find it.
Get A Real Estate Agent
The most obvious sales technique is to contact a real estate agent. They should have a network of individuals involved with the real estate game that they can source for interested buyers. You may already be working with one if you are flipping houses and if they seem competent enough they could be a great resource to bring in potential buyers.
Some sellers would prefer to go it alone and avoid the hefty listings fees paid to an agent. Not to mention that a real estate agent is not always the best choice if they are less experienced or are limited in the networking area. Choosing this option may also require signing some short term agreements, be aware.
We are looking to sell the house fast without compromising too much on price. Here are some more opportunities I found on selling a house quickly.
Use A Standard FOR SALE Sign
The first and most obvious method to get your property on the market is to post a FOR SALE sign right in the front yard. This will notify anyone driving by that the home is for sale and they can call the number to schedule a private showing. The private showing allows you to focus on just one buyer at a time and if they show interest you can remove the FOR SALE sign anytime.
The reality is the only people that see this sign are your neighbors and people who happen to drive down the street. This is where curb appeal is important as someone who is interested may stop or contact a friend who might be interested.
To improve the visibility we can also create a sign for the nearest main streets. This is not the “bandit signs” which I mention below, this would be a sign that is staked and taken down each day preferably during rush hour when the most traffic will be passing that point.
To speed up this process we can stage an open house each day. Add “OPEN HOUSE” to the sign in the front yard and the street signs should also say “OPEN HOUSE” with a time range such as 5-8pm. The idea is to allow the commuters to get home, grab the husband and return to look at the house. This type of showing is faster but not as personal as the private showing. Also it would be good to have more than 1 person to deal with a second set of buyers that show up at the same time.
Look For The ‘FOR RENT’ Signs
This method is more about looking for the investor and a quicker sale. You may need to compromise on price as investors try to keep their rents high and their mortgages low. The FOR RENT sign is identifying a home owner that is renting the house in the same neighborhood.
Collect the address and phone numbers for houses in the area with a FOR RENT sign. Call these landlords and see if they may be interested in buying your house and possibly renting it out. If the price is reasonable and there are no major issues with the home, it can be a quick sale for you and another rental property for them.
Place A Sign On Your Car
A little used method is to create a sign and hang it on your car as you drive around town. There’s some space on the car door or window where you could post a HOUSE FOR SALE sign with some nice photos of the house. If your cars rear windows are not tinted you can post the for sale sign on the inside so you don’t have anyone tearing it off. Be sure to have the words “HOUSE FOR SALE” so it is not confused with selling your car.
You will be advertising to anyone that passes by your car at the grocery store, picking the kids up from school or sports and much more. This is about speed where we get the property in front of as many eyes as possible as quickly as possible. Just like the for sale and for rent signs we are targeting the local area where the buyer may live close and a private showing can be scheduled the next day.
Post Your House On Craigslist
Craigslist is a free online classifieds website where you can post our home for sale with images. The website is not the most functional, comparing it to something like Zillow.com but many people use it to buy and sell everything. Look at some of the postings in your area and notice which ones pop out at you. What titles draw your eye and make you want to click on them?
The title is important as this is what attracts someone to the post. Include details such as the city, bedrooms and bathroom and something that makes the post stand out such as “Gorgeous Home” or “Dream House”. Craigslist limits the titles to 68 characters so be creative.
Use high quality photos of the house outside and inside. If you are staging each room be sure to use these photos with good lighting and at more than 1 angle if possible.
Use Google To Target Others Looking to Buy
Another method to find buyers online is to use a targeted google search. In the search box you can enter “We Buy Houses [your city name]” to find companies, called iBuyers, that are buying houses in your area. Most of these companies are cash buyers and may attempt to bring down the asking price as they are usually cash buyers.
The idea is to sell to a cash buyer so you sell the home and get the cash fast. This method avoids the banking requirements and red tape required to acquire a mortgage. Closing can be as fast as a few weeks in this case. Some of these companies also have a quick form on the site where you can submit the details of your home and contact info, then someone gets back to you on the process.
More Online Services
A new service appearing online is the iBuyer. The iBuyer is a company that buys homes for cash online. One of these is offered by Zillow.com here at this URL: Zillow.com/offers
I found limited info on this type of sale but one of the common issues was that the final sale price tended to be much less than if the property was sold on the open market. I spotted numbers like 10% less plus fees.
I tried looking up my address but got the message “Zillow Offers isn’t available for homes in [zipcode] yet”. This service may not be available in your area.
There are also paid sites like biggerpockets.com/real-estate-listings, LandWatch or ForSaleByOwner.com but this article is about speed and I don’t see these sites as any faster just more convenient.
Get Listed in the MLS
The MLS is the database real estate agents use to find homes for buyers that they represent. Listing a home in the MLS notifies all local real estate agents that the property is for sale. It is well known that 80% of buyers are represented by agents.
Traditionally the only way to get your home on this list was to hire an agent and they would add it along with the details and photos. In addition the house is automatically posted to online sources such as Zillow, Trulia and Realtor.com.
Another option is to pay for a “flat fee MLS Listing”. This is a service offered by a licensed real estate broker. The agent will work with you to set up an “Entry Only” service on the local MLS platform. This will get your house listed by a real estate broker but they will only create a listing in the MLS and will not provide any other services. IN this case you will still retain the right to sell your home as for sale by owner.
Bandit Signs
A bandit sign is a sign with large letters typically on a colored background that announces investors or companies are open to buying property in the area. They can be hung in certain areas where they believe homeowners are likely to sell their homes quickly and possibly for cash. Signs can be nailed to a post, hung from a fence, or planted in grassy areas with stakes.
In some municipalities the bandit signs are illegal as too many companies have used them to find homeowners who are looking for a quick sale.
The flip side of this technique is also useful to the FSBO. Place a FOR SALE sign in areas around the neighborhood to attract potential buyers. Busy streets will have electricity poles and street corners where there are bushes or a flower bed. B esure to check the local legality for these signs first.
Virtual Tours
Another online option that puts the house in front of a ton of people is the virtual tour. Some research has found that over 50% of buyers are finding their next home online. A virtual tour allows the buyer to review the inside and outside of the home using only their mobile phone or laptop.
This will require some equipment such as a camera that can shoot 360 degrees.
- Camera which can shoot 360° panoramic footage
- Be sure to use a tripod for clear level images
- Use a camera that can be controlled via an app or remote
- Be sure to capture each room
The virtual walk through can be uploaded to Zillow, Realtor.com, Facebook, Snapchat or youtube and linked to from any other website.
Another idea I found was to use a drone fly through as a spin on the virtual tours. The idea is that a single video can be used to fly around the house outside, then into each room. The video seems to be a little more entertaining but I don’t know if it sells better.
Let Them Move In
This is a more controversial option but allowing someone to live in the house for a short period of time, they can develop some emotional attachment and decide to buy shortly afterward.
If you have a buyer who is waffling on their decision but they seem very interested in the property, an overnight stay might push the deal over the finish line. They have a good chance of visualizing living in the house, raising their children and socializing in the neighborhood.
Help With the Mortgage
Not everyone in America has great credit with a good paying job and extra cash laying around for a down payment. The home seller can provide some options to bridge the gap when a buyer is interested but has some financial limitations. Here are a few that are mention-able:
- Use a Lease Option with option to buy
- Use existing equity
- Down payment Gift Assistance
- Seller assist program for closing costs
With some creativity there are options to assist buyers with obtaining a mortgage or finding additional finances to close the deal.
Attract The Neighbors
Local and neighborhood attention is a quick way to find a buyer. Above we have ideas such as the for sale signs and landlord opportunities. The idea is to draw attention to the sale and get buyers interested in viewing the property as soon as possible.
I found a creative suggestion where the seller paid to have an ice cream truck park in their driveway in the afternoon. Children as well as adults came for ice cream and some of the adults inquired on the house.
How to sell a house fast by owner
Assess the real market value of your house and google “we buy houses” to find a real estate investor. Expect to lower the price of your home for faster cash.