Most people, when it comes to selling a home, usually want a quick house sale. Either because they need to move quickly for a new job or for financial reasons- whatever the case may be, no one wants their house sitting on the market for months. So if you’re saying, “I need to sell my house asap,” you are not alone.
But, to sell a house quickly takes some strategizing on your part. Other things to keep in mind is the Memphis real estate market and the time of year you’re selling. Sometimes those two things can be to your advantage, and other times that could be what is stacked against you from having a quick house sale.
But the good news is that there are some things you can do to speed up the selling process. Below are 5 great tips to sell asap that will help you get that sold sign in your yard easily and quickly.
Tip 1: Pick a Selling Strategy
This tip is very important, which is why it is number one on the list. You will need to decide how you are going to sell your house. Depending on which strategy you choose may help you achieve a quick house sale, others may leave you saying, “I need to sell my house ASAP.” Here are the most common ways people go about selling their homes.
- Sell with a real estate agent
- Sell by-owner
- Sell to a home buyer
Let’s take a look at these three a little closer to figure out the fastest way to sell a house.
Sell with a Real Estate Agent
Hiring a top real estate agent isn’t a bad idea if you’re looking for a quick house sale. A good real estate agent can help price your property strategically, figure out a good marketing strategy, list and advertise your home, and host open houses. They are professionals in the field of real estate, but there is a big difference between top real estate agents and others.
Most agents have good intentions and express those to you before you choose to list with them. They do have every intention of selling your property for top dollar, and they do want to sell it fast. But is that usually the case? Not often.
Most people would say realtors don’t quite do their job. The general consensus is that agents tend to list-it and forget- it. And that’s a big deal when one- you’re looking for a quick house sale and two- you’re paying them 6% of the sales price to sell your home.
Not to say hiring a realtor is not a good idea; you should just keep in mind that even when hiring a top real estate agent, that doesn’t guarantee a quick house sale. Top real estate agents got to the top because they are working with multiple clients and listings. Would you be considered just a number? You should probably ask how they plan to give your listing equal time and effort as they would all the other listings they currently have.
Something else to keep in mind, an agent’s fee doesn’t change for as much effort or seemingly little effort they put towards selling your house. Of course, your listing price could decrease if you’re trying to sell a house asap but if that’s the case, it would mean it wasn’t priced correctly, and it’s likely been sitting on the market for a while, causing the price reduction.
To get an idea of what a realtor’s commission looks like, let’s say your house is listed for $275,000. If you sell for that asking price, your real estate agent stands to make $16,500 (6%). Say your home has been on the market for two months, and now you’re saying, “I need to sell my house asap,” so you drop the price to $265,000, your agent makes $15,900—only a minor $600 difference for them but a big $10,000 difference for you. For an agent, dropping the price and sitting on the market isn’t as big of a deal as it is to you.
All of these things are important to keep in mind when hiring a real estate agent to sell your house quickly in Memphis.
→ Interest Fact: The average days on the market in Memphis is 31 days until receiving an offer. The closing process or escrow takes on average 30-60 days to complete. So, selling with a realtor or by-owner could take 61-91 days if your house is in a condition to list right away.
Now that you understand more about selling with a real estate agent, you may choose just to list your home on your own. Selling-by-owner is popular because of the savings you get by not hiring an agent and being able to control the selling process. Remember, though, selling by owner isn’t as easy as it may seem because it’s not like you sell a house every day.
Here is a list of the general responsibilities you will be in charge of when selling your home on your own.
- Determining an asking price.
- Preparing your property to sell.
- Figuring out marketing and advertising and investing in it.
- Answering phone calls and scheduling showings.
- Hosting open houses on the weekends.
- Verify qualified buyers.
- Negotiate with the buyer or buyers agent.
- Hiring a real estate attorney for the closing.
- Getting documents and paperwork together.
All while maintaining a job, caring for yourself and your family.
If you still choose to go this route, the most challenging thing to get right when selling by owner is the price. Setting a reasonable asking price is hard for people selling by owner- which is crucial when you’re trying to have a quick house sale. The best way to get an unbiased and accurate evaluation is to hire a real estate appraiser to come out and look at your property. Usually, this costs $300- $350, but it is worth knowing your house’s actual value. Listing your property correctly for the area is really important to the success of a quick house sale.
After learning more about selling by owner, you may decide it’s not for you because of all the time and effort it will take on your part. Yes, saving on realtor commissions sounds wonderful, but the tradeoff is the hassle of selling your house on your own. That’s a lot of pressure, especially when you need to sell your home asap- which leads up to the third option of selling a house quickly in Memphis.
Sell to A Home Buyer
If you want to know the fastest way to sell a house, it is with a home buyer. There are different types of homebuyers out there; some are a part of big companies; some are single investors. The difference with selling your home to a home buyer is that they would purchase your house from you. That means you wouldn’t have to do any of the steps listed above, like hiring a real estate agent or figuring out a marketing strategy like you would if selling by owner.
Basically, what happens is you would contact a homebuyer about your house, they would access its value and current condition and make you an all-cash offer. Since a home buyer pays in cash, they are not subject to waiting on bank financing or inspection contingencies, as a traditional buyer would be. In some cases, they can even close on your house in as little as 7 days! See why selling to a home buyer is the fastest way to sell a house.
Tip 2: Price Right
However, you decided to sell your property, pricing it right will play a significant role in a quick house sale. Remember how you read earlier that the most challenging part to selling by owner is getting the price right? Well, even seasoned professionals like real estate agents don’t even get this right. There are so many factors that go into figuring out a fair asking price. These are some of the things that are looked at when determining an asking price for your home.
- The average price of houses selling in the area
- Size of your house
- Condition of your home
Another thing to consider is if it’s a good time of year to sell (between the months of May-July) and if it’s a buyer or seller’s market.
Generally, agents’ assessments tend to be on the higher end for the area, giving you some hope that they will be able to get that price if you were to work with them.
And if you’re going with the for sale by owner route, it’s hard not to be a little biased in your asking price.
But if you’re in a situation where you’re saying, “I need to sell my house asap,” you will need to price your house competitively.
If you’re looking for an accurate estimate for your home’s value, spend a few hundred dollars and get a real estate appraisal from an unbiased expert. It’s worth knowing what a competitive asking price is when you need to sell your house quickly.
Tip 3: Declutter and Clean
Do you think a dirty house full of items or stuff would sell quickly? Probably not. Buyers nowadays are looking for updated turnkey properties; they can move right into and not have to make any changes. And honestly, do you blame them? When people see a dirty house or stuff everywhere, it tells prospective buyers that the house isn’t well taken care of and isn’t big enough to fit everything. Here is a list of things to clean and declutter in your home to help attract buyers for a quick house sale.
- Declutter closets and the garage.
- Put any big pieces of furniture in storage, if possible.
- Get carpets professionally cleaned.
- Touch up paint on walls with scuff marks or dirt.
- Dust, sweep, mop, and clean the whole house.
- Depersonalize- put any personal photos away.
If you’re a little overwhelmed taking on cleaning and decluttering your house, that’s ok; you can always hire professional cleaners and organizers to come in to help. If you have years of accumulated stuff or even own a hoarder house, there are people out there that can help you. A professional cleaner’s average cost for a three-bedroom, 2,000-square-foot home ranges from $150 to $250, and a professional organizer costs $80 to $140 an hour. If that isn’t in the budget, you can always ask friends or family members for help and maybe throw in a free pizza for payment.
The idea here is that you want prospective buyers to walk in your home and easily visualize themselves living there also, giving them the impression that the house is well taken care of and offers plenty of livable space. These simple cleaning and decluttering tips are one of the secrets to a quick house sale.
Tip 4: Create Curb Appeal
Once you’ve finished cleaning and decluttering the house, it’s time to focus on the outside of your home. The exterior of your property will be the first thing interested buyers will see when looking at your listing or for a showing. Does the outside of your home look warm and welcoming, or overgrown and uninviting? A few simple ways you can add some curb appeal to your home would include:
- Doing some yard work, weeding the flower beds, cutting any overgrown plants, raking leaves, cutting the grass.
- Clearing the yard of any toys, bikes, or empty flower pots, as well as, straightening up any lawn furniture.
- Touching up any chipped paint and replacing any rotten wood if possible on the house.
- Spraying off your driveway with a power sprayer and house siding if you have any moss.
- Putting some flower pots by your front door and planting some new flowers.
- Maybe adding a wreath to the door or a new doormat.
- Making sure all the outdoor lights work and replace any light bulbs that have burned out.
If you’re overwhelmed by all this work, you can always hire a handyman and lawn care company to do the work for you. Expect to spend $60 to $125 per hour plus materials when quoted hourly rates for a Memphis handyman, and just to get your lawn mowed costs $50-$200 depending on the size of your yard.
It may seem like a hassle to create curb appeal, but it really does help in making a quick house sale.
Tip 5: Hire A Professional Photographer
Now more than ever, people are turning to online sources to shop for houses. It’s important to showcase all the great features of your home so that your listing stands out to buyers. Hiring a professional photographer will provide you with quality images of your home with excellent lighting to highlight your property’s great features.
Usually, if you’re working with an agent to sell your home, they will have a photographer lined up to take photos of your property. But if you’re selling by owner, it will fall to you to find a qualified photographer. As tempting as it may be to take your own photos, it wouldn’t be advised unless you are a professional photographer yourself.
To hire a real estate photographer in Memphis ranges from $332 for a two-hour photo shoot or a one-hour shoot costs about $207. Another expense to budget for but necessary when you’re trying to have a quick house sale.
Bonus Tip: Really Need to Sell ASAP? Consider a Cash Offer
Even though these tips are known to be the fastest ways to sell a house, it does not guarantee a quick house sale. If you’re saying, “I want to sell my house easy and fast,” really the sure way you can sell your house quickly is by selling to a local cash buyer.
Besides paying in cash and being able to close in 7 days, a home buyer would purchase your home in as-is condition. What a huge relief that would be for you not to have to do any cleaning, declutter, or lawn care, saving you hundreds of dollars and hours of work.
Also, since you would sell directly to them, you wouldn’t need to work with a real estate agent, saving you thousands of dollars on agent fees and months of uncertainty waiting for your house to sell.
When you need to sell your house asap, selling to a cash home buyer is your best-case scenario.
If you’re interested in finding a cash home buyer in the Memphis area, reach out to Fair Cash Deal today. Fair Cash Deal is a family-owned real estate solutions company based out of Cordova, Tennessee. They are a Better Business Bureau accredited business with an A+ rating, and their team is ready to help you with a quick house sale.
If you’re looking for a buyer for your home, we buy houses asap in the Memphis area; please contact us today to get a free cash offer for your house. We look forward to working with you!