One of the worst thigs that can happen to an investor while trying to sell a house is that the house sits and doesn’t sell.  Each day that the house has not sold takes more money out of your pockets.  Time is money and from the time you purchase a house, renovate it, and sell it, time is ticking.  By the time your house is ready to sell, the faster you sell it, the better.  Here are some tips to help sell your house as quickly as possible.

 

  1. Stage It

 

Staging makes a huge difference in selling a home.  There have been countless stories of investors having trouble selling a home until they paid for a good staging company to make the house look livable and instantly the home sold.  A home can sit for months without staging, and can sell in days with staging.  There are facts that prove that properties sell for much more being staged compared to a house that is not staged.  According to StagedHomes.com, “The average sales price of a staged property is 6.9% higher than a non-staged property.”  Also, “Staged homes typically sell 50% faster than non-staged homes.”  There is much power in staging.  You can learn about some staging tips from our previous post “8 Staging Tips to Help You Sell”.

 

Think about the money that you could save by staging your property and selling it in a matter of days, than to not pay for staging and having the house sit for months.

 

  1. Keep It Clean And Tidy

 

Make sure that before you attempt to show the house to not only stage it, but make sure that it is clean and tidy.  Of course the house should be newly renovated and staged perfectly, but make sure that you dust and vacuum, clean up soap drops on the bathroom sink, clean up the trash that may be outside in the street and also further down the street, wash the windows if they aren’t new, power wash the siding, mow the lawn, trim the hedges and bushes, and just make the house presentable to whoever may come to view it.

 

  1. Hire a Realtor

 

Even though you may think that you can post your house online, respond to the emails and phone calls from potential buyers, show the house to potential buyers when they want to see it, and try to sell the house on your own, it just won’t work.  You will need to hire a realtor.  A realtor not only has access to posting properties on the MLS, but they already have leads in place that have already told the Realtor what type of house they are looking for, what price, what area, etc.  Not only will the Realtor post the property and begin to have inquiries pouring in, but they can instantly call their existing leads and have the house shown to several people as soon as they list it.  The realtor will do all of the work for you, and even though you won’t have to do anything else, you can still post your own ads and just forward them to your realtor so that you won’t have to spend time running back and forth to the house to show it to buyers.

 

Also, you don’t only have to work with one realtor.  You can hire one realtor and have them post the property and list it on the MLS and yes they will receive a commission for their efforts after selling the property, but if you really want to sell your house even faster, you can contact other realtors who specialize in the area where your house is located and just let them know that you have this house listed and that you need it to sell.  Ask them if they have any leads or clients that may be interested.  That agent will be able to show the property to his/her clients just as easily as the one that you hired to sell it.

 

  1. Open House To Brokers

 

Not only is contacting other agents to tell them that you are selling a house an effective way to sell your house fast, but you can also gather all of them together at one time by hosting a Brokers Open House.  By hosting an open house to Brokers, you have the opportunity to gather all of the real estate brokers and agents that are interested in selling your house to the house to answer all of their questions and to show them the pros of the house.  When you invite them, provide food and drinks and let them walk around the house, then have them gather around to tell them a little about the house and answer their questions.  After the open house, they will feel more inclined to find a buyer and it will increase your chances of selling the house fast with several agents and brokers on the job to find a buyer.

 

  1. Price Is Right

 

When attempting to sell a house and to sell it fast, the house has to be listed at the Right Price.  You can’t overprice the house with hopes to make a higher profit while also hoping to sell it quickly.  You can’t have your cake and eat it too.  If you price the house too high, it will sit for a longer period of time until either the right buyer comes along or until you have to drop the price.  Most buyers will pass over a house if they feel that it overpriced.  If the house is priced just right, it can make a difference in the time it takes to sell on the market.

 

Do some research on the property value of the house by looking at the sales prices of similar houses in the area.  You may also want to hire a property appraiser to give you an accurate value of the property.

 

Remember, time is money, and the longer your house sits, the more money you waste.  Try to apply these 5 tips to your next project and see for yourself the difference in the time it takes to sell your house.

 

 

Michael Moreno has been investing in real estate since 2008. He completed a year of real estate training at Investors United School of Real Estate where he was inducted into the President’s Club. He has attended numerous real estate seminars around the country including David Lindahl’s Apartment House Riches Bootcamp and Syndication Bootcamp, and Robyn Thompson’s Ugly House Renovation Bootcamp, among others. He is a member of the Mid-Atlantic Real Estate Investor’s Association, the Baltimore Real Estate Investors Association, and Steve Cook’s Lifeonaire FlipVIPs mastermind group. He has completed 50+ and counting single family renovation projects in and around Baltimore, and currently holds and manages rental houses in Northern Virginia and Baltimore City.

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