The housing market is on an impressive rebound in many areas throughout the country. In order to capitalize on this refreshed demand for property (and the higher offer prices which are being extended by eager buyers), property owners are scrambling to ensure that they get their home on the market fast. If you are wondering how to sell your investment property fast, I have laid out exactly what you can do to move your property off the market faster than your real estate agent can post it to MLS.
Choosing The Right Agent
Unless you are a seasoned real estate guru, you will want to choose an agent who is experienced in working with the seller of a property rather than the buyer.
But not just any agent will do. You want an agent who knows how to sell your investment property fast. You want an agent who is hungry for the sale and who has the experience and the networks to move it quickly.
BONUS TIP: When agreeing to a contract, opt for a short-term contract that is no longer than 12 weeks to put the pressure on your agent to sell.
List Your Property At The Right Time
Certain times of year are better for selling your property quickly than others. For example, selling during the holiday season is rarely a good idea. Selling at the end of winter leading into spring, however, is a good time for those with perhaps less desirable properties to list. This is because other sellers still have not listed their homes for sale, so there will be less competition.
The ideal time to list your property is in the summer months, specifically July. This is when most people have vacation time, and when families can relocate without having to uproot their children in the middle of the school year.
Don’t Be Greedy
Regardless of how much you think your home may be worth, you must be realistic. You may love the location, but sit down and really consider the factors which could affect the desirability of your property, including:
- The location of your property
- Its proximity to amenities
- The aspect of the home
- The current state of your local market
Do not let your emotions be your guide. Your agent will likely bring in an appraiser or two to also provide you with a likely selling price for your home.
Take Caution When Considering An Auction
Part of knowing how to sell your investment property fast includes selling your home at an auction rather than through a private sale. Auctions are intense and create a sense of urgency surrounding the sale of your property. This often means that sellers are not only able to sell their property faster, but they are able to sell it for a higher price.
However, there is a risk that comes with auctions. Homes frequently sell at an auction, meaning that if your home does not sell, potential buyers may think that there is something wrong with the property. If you are not in a huge hurry to sell your home, a private sale that could take 2-4 weeks longer may be the best route.