Summary of this article
Selling a home in a competitive market can be daunting, but with the right preparation and strategy, sellers can significantly shorten the process. Here are five proven ways to speed up home sales.
Selling a home can be a challenging and lengthy process, especially in a competitive real estate market like India. Whether you’re moving, relocating, or just looking to sell, it’s important to make your property stand out so it sells quickly.
Fortunately, by taking the right steps and making a few simple changes, you can improve your chances of a fast sale. Here are five effective ways to sell your home faster without sacrificing quality.
1. Understand Market Trends And Set Prices
Before selling your property, make sure to research the sales trends in the past year. Understand what might interest a buyer to buy your property in that locality and at the price you are listing. Look at the positioning and demographics of the locality and understand the reasons why people might want to buy homes there (e.g. close to office/industry spaces).
“These details will help you decide and set a competitive price for your home in the market. They will also help you understand what attracts buyers and speed up sales. Some realty platforms also offer insights into similar properties in your area, helping you choose the right price and draw in serious buyers quickly,” says Amit Agarwal, CEO and Co-founder, NoBroker.
2. Make The House Look Presentable
There are a few ways to make the home look appealing:
a) Ensure that the house is sparkling clean when people come for visits, and fix any repairs before putting it on the market.
b) Help potential buyers visualise themselves living in the home by removing personal items and de-cluttering the house before they arrive.
c) Ensure that furniture is arranged in a way that makes the house look spacious.
d) If listing the property online, you can consider investing in a professional photographer to take pictures from flattering angles and showcase your home in the best light.
3. List Your Property Online
Post your property on brokerage-free real estate websites to showcase to a larger audience and maximise the chances of genuine inquiries from buyers. Aside from the obvious benefit of saving brokerage, it ensures that you connect with genuine and interested buyers only.
To increase the chances of your listing being clicked on the real estate website, you can list basic details about the house (type, age and carpet area), share information about the locality that it is in, and give an overview of the available amenities to help potential buyers understand the area.
4. Prepare The Necessary Paperwork In Advance
You need to close the loan if you have an existing one. If you’re planning to do that with sale money, be clear on the transfer process. Transparency is key. Prepare the necessary documents to ensure that the sale of the property is smooth and efficient.
“Pre-verification and the advance preparation of paperwork will help ensure that any last-minute hurdles are eliminated and the process after a price is agreed upon is expedited. In India, you require multiple documents,” says Agarwal.
Make sure to check the list for any revisions:
Sales Deed
Power of Attorney (POA)
No-objection certificates (NOCs)
Encumbrance certificate
Property tax listings
Building plan and occupancy certificate
Mutation Register Extract
Clearance certificates
Selling, just like buying, can be an overwhelming process. You can get help from property experts who will hand you through the process.
5. Keep Negotiation In Mind And Price It Slightly Higher Than Your Expectations
Be open to compromising on your initial offer and negotiating the price to an extent. Everybody likes a steal deal. List your property at a price slightly higher than your actual expectations. Leaving a little wiggle room for negotiation makes the buyer feel that they have got a better deal.
Additionally, “you could offer flexible payment options that give buyers the option of making the down payment in instalments. Set a time frame such that you don’t seem rushed to close the payment, but ensure there are no major delays in the process that make buyers lose interest,” says Agarwal.
Conclusion
Speeding up the home-selling process doesn’t mean settling for less than optimum; it means being smart, prepared and ready for what’s to come. By pricing your property right, making the house presentable, preparing all documents in advance and listing it on real estate platforms, you can drastically improve the rate at which your property attracts genuine buyers. With these strategies under your belt, you are well-equipped to sell your homes in the market for their best value.
