According to a recent report the National Association of Realtors (NAR), it takes three weeks on average to sell a home these days. If you put last five years in contrast, it took 11 years to do so.
However, three weeks can even be too long in a hot housing market. Others could close the sale on their home within a week. The reason? Low housing supply. This drives home buyers to look for a property to buy in a very competitive market.
Low housing supply = increased demand
In an interview, Lawrence Yun, chief economist for NAR, says that: “The inventory shortage and the growing economy and job creation has increased the interest in home buying. There is just not enough inventory; people need to fight over the few homes available on the market.”
On the other side of the spectrum, selling a property can be a bit of a challenge, too. You lose potential home buyers to other properties. As a seller, your goal is to sell your home fast. However, that can be hard is the competition is tough.
How you sell your home contributes how fast it gets sold. For those who are selling their homes, especially those who are in very competitive real estate locations, here are four creative ways to sell your home faster.
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Organize an open house party
Potential homebuyers love a good open house. Why not put the element of fun on it? Open house parties and other open house ideas can increase the chance of inviting more people to check out the property you’re selling.
Putting up tea parties or cocktail parties or setting up themed open houses can bring in more people to your open house and thus increasing the chance of selling your home.
Provide virtual tours
Virtual tours are a thing of our times! More buyers love looking at virtual tours better than looking at listings with just pictures and the description of the property you’re selling.
Virtual tours can be done through a video or a 360. This can bring potential home buyers to every room in the property within the comfort of their computer or phone screens and if they love to buy your home, you can just be a chat away.
Give potential buyers a test drive
Experience marketing is something consumers love to take part in especially since most buyers nowadays are millennials. Following from this trend, why not give potential home buyers a test drive?
Let them move in overnight to give them a first-hand experience of what it will be like to live in a property their planning to purchase. Of course, you can’t give every home buyer a test drive. That might only delay its selling. You just have to offer it to serious home buyers.
People love freebies! When you sell your home and say, “the living room furniture comes with the home,” that would increase your chance of getting a home buyer.
However, adding your furniture as a freebie can be a common move for some. Try looking for an edge where you can give out a freebie that others won’t think of doing. This can be gym equipment, patio furniture, appliances, or anything you can think of that would help sell your property faster.
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Most of all, preparation is key
No matter how creative you get in selling your home, remember to always highlight the most important element: the property itself. Prepare your home for sale and make sure it shines well when you start to sell it for buyers to see the true beauty of the property you’re selling.
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