Fast Home Selling

Making the decision to sell a home is both a financial and emotional decision. Once you get over the hump, fast home selling is always the goal.

Fast Home Selling

The decision to sell a home boils down to two fundamental reasons. You may have to sell because of a change in your life such as a job transfer, divorce, addition to the family or some other event. Alternatively, you make the decision to sell because you feel the time is right. Regardless of how you get to the decision, fast home selling is the goal once you make it.

The biggest key to fast home selling is knowing your real estate market, the amount of money you reasonably are willing to settle getting out of the deal and your definition of a “fast” sale.  Let’s take a look at these three issues.

To initiate the fast home selling process, you must know your market. By this, I mean that it is important to know what price comparable homes in your neighborhood are selling at. You want to look back six months, but pay particular attention to the last 60 days. By doing this, you can see if prices are trending downward or upward. Once you have a feel for the market, the best fast home selling strategy is to price your home at the lower end of the market. The lower you are willing to go, the faster it will sell so long as there aren’t any distinct differences between your home and other comparable ones in the neighborhood.

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Before you go out and list your home at the bottom of the market, you need to ascertain what you are willing to get out of the home. You have to step back from the process and be reasonable. There is an inherent conflict in fast home selling and profit. To sell fast, you need to go lower than those around you. This, of course, eats into your profit. This means you have to develop two figures for the ultimate sales price – what you hope to get and your rock bottom figure. Never drop below the bottom line figure. If you consistently get offers below that number, you can then reassess whether you are pricing yourself out of the market. Regardless, you don’t want to sell your home fast, but regret leaving money on the table.

Finally, we need to define the phrase “fast home selling.” Unlike a dictionary, this is definition is purely subjective. A fast sale is open to interpretation and you need to ascertain what it means to you. Some people think two weeks is a fast sale while others think two months is fine. There is no correct answer, so determine what you are comfortable with in regard to your home.

Once you have hammered out these three issues, the fast home selling process is a balancing act between them. First you have to know your market. Then, you need to determine how low to price your house to meet your need to sell it fast, as you define that term. Again, there is no objective answer. Try out a price and move it around if you aren’t getting any bites.

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