Owning a house in Texas is certainly nice, but there may come a time when you’re ready to sell. That might be because you’re moving to a different area or because you want to take advantage of a booming market, but whatever your motivation, you’ll probably be incentivized to sell your house as quickly as possible.
Selling your house quickly is beneficial, but it can also be extremely challenging. Acknowledging and addressing the biggest obstacles to selling a Texas House quickly can give you a much smoother experience.
Why Do You Want to Sell Your House Quickly?
Before we get any further, take a moment to ask yourself why you want to sell your house quickly in the first place. For most people, the impulse boils down to a few different factors, including:
- Moving concerns. Let’s say you’re moving to a different area of the country because you’ve recently gotten a new job. You need to start the job in one month and you need to find a new place to live before that month has elapsed. However, you don’t have the cash available to make a down payment until you sell your current home. This puts you in a pickle, forcing you to sell your home in the span of just a few weeks.
- Physical distance. For some people, the biggest problem is dealing with physical distance. If you’re already in a new state and a new home, you might feel stressed about having an unattended home in a different area of the country. The sooner you sell it, the sooner you can move on, and the less you’ll need to travel back to your home state of Texas.
- Sheer convenience. For other people, selling a home quickly is just a matter of convenience. Scheduling showings, keeping the house in good condition, and dealing with conversations from buyers and real estate agents can all be exhausting. Selling the house quickly minimizes the complications you might face and can reduce your stress.
All of these motivations are valid, but there are some questionable motivations worth challenging. For example, are you only interested in selling a home quickly because you feel like you should? Could it benefit you to wait a few weeks to fetch a higher sales price?
The Biggest Obstacles in Your Way
What are the biggest obstacles standing in the way of your quick home sale?
- Pricing. Real estate markets function like all other markets; pricing drives consumer preferences and consumer preferences drive pricing. The lower the prices, the more interested buyers you’re going to attract, and the higher the price is, the fewer interested buyers you’re going to attract. Home sellers often run into issues here because they expect their home to sell for market price, yet they simultaneously want to optimize the home sale for speed. One of the simplest solutions to sell a house quicker is to reduce the price, but this obviously is associated with a monetary loss.
- Competition. You may also face an obstacle in the form of competition. If there are many houses like yours being listed around the same time, for around the same price, interested buyers are going to have plenty of options to choose from. There’s nothing inherently special about your house in this type of market, so you might end up losing some buyers to competing sellers.
- Market interest. Current state of the market also influences the speed at which you can sell your house. In a seller’s market, prices tend to be high and inventory tends to be low, resulting in favorable conditions for sellers that should allow you to sell a house quicker. But if you’re stuck in a buyer’s market, with overwhelming inventory and lower prices, you’ll have much less maneuverability to optimize for a fast home sale.
- Issues and repairs. What’s the current condition of your home? If the house is in need of major structural repairs, or if it just looks unappealing to the average buyer, it’s probably not going to sell quickly.
- Staging and appeal. Similarly, how have you managed to stage your home? Have you worked to depersonalize the home and keep it clean and tidy? If not, you’re going to have your work cut out for you.
- Marketing and advertising. Some aspects of real estate marketing are straightforward and predictable, but it’s sometimes hard to reach the right people through the right channels. If you don’t have much of a marketing budget, or if your target demographics are especially hard to reach, the pace of your home sale may slow.
- Weak offers. As you start showing your home, you’ll probably start receiving offers – but those offers may fall below your expectations. If you’re unwilling to compromise or accept a weaker offer, you could be stuck holding the house for much longer than you initially accepted. As time passes, you may have to reevaluate your priorities and start considering compromises you would have rejected earlier.
The Best Plan
So what’s the best plan to tackle all of these obstacles?
For starters, you should be hiring a real estate agent. Your real estate agent is going to take a cut of your final sales price, but they’ll probably provide value far exceeding what you spend on them. Real estate agents will provide you with advice, help you with marketing, and ultimately help you get a higher sales price – all in addition to planning your strategy so you can sell the house as quickly as possible.
Next, you need to be ready to make some sacrifices. What are you willing to sacrifice to make sure the home sells quickly? For example, are you willing to accept a lower bid? Are you willing to accept a bid with more contingencies? Are you willing to get more involved in the marketing and advertising of your house and spend more money on more resources?
Selling a house is rarely simple and often stressful. But you can make the process much easier on yourself by working with a qualified, experienced real estate agent. If you’re ready to begin the process, contact us today for a free consultation!