So you’ve listed your home and it’s been sitting on the MLS, it’s a well-known fact that the longer a home sits on the market, the harder it becomes to sell. This is because buyers start to wonder what’s wrong with the property, and they may even start to lowball you.
So, if your home has been on the market for a while now, here are a few things you can do to increase its appeal and finally get it sold:
1. Wait It Out
There are no guarantees that your property will sell whether you do it on your own or with the help of a real estate professional. Because few people have the luxury of time or money to maintain a listing for an indeterminate length of time, this option is rarely feasible.
But, if you do have the time and money to wait it out, there’s a chance your home will eventually sell.
This is especially true if you live in an area with a seller’s market. In these cases, buyers are willing to pay more for a property, and they may be willing to overlook certain faults
So, if your home is in good condition and you’re not in any rush to sell, you may want to consider waiting until the market improves.
2. Reduce the Price
If your home has been on the market for a while without any offers, it may be time to reduce the price. This will make your property more appealing to buyers who are looking for a good deal.It’s important to note, however, that you shouldn’t reduce the price by too much. If you do, you may end up losing money on the sale
It’s also important to be strategic about when you reduce the price. If you do it too soon, buyers may think something is wrong with the property
On the other hand, if you wait too long, buyers may lose interest altogether. The best time to reduce the price is usually after your home has been on the market for a few months without any offers.
3. Make Some Improvements
Making improvements to your property can make it more appealing to buyers and help you get top dollar for your home.
Some improvements, such as painting the walls or replacing old carpet, are relatively inexpensive and can be done quickly. Other improvements, such as remodeling the kitchen or bathroom, will cost more money but could dramatically increase the value of your home
It’s important to note that not all improvements are worth the money. Before making any changes, you should consult with a real estate professional to get their opinion on which improvements will add the most value to your home.
4. Hire a New Realtor
If your home has been on the market for a while without any offers, it may be time to hire a new real estate agent
There are many reasons why hiring a new realtor may be beneficial. They may have fresh ideas about how to market your home, or they may have access to a different pool of buyers.
Additionally, if you’ve been working with the same agent for a while, they may be getting complacent. Hiring a new realtor will give them a sense of urgency and incentive to sell your home
If you do decide to hire a new realtor, be sure to interview multiple candidates to find the best fit for you.
5. Consider Rent to Own
If you choose to sell your property in Las Vegas as a rent to own, keep in mind that if the renters do not want to buy the home at the end of the arrangement, they are not required to do so. Buyers usually pay an upfront non-refundable option fee when they opt for the “option” to purchase the house at a later date. The final purchase date and how pricing will be determined should be specified in your rent to own contract.
You’ll be responsible for property taxes, home owners association fees, and insurance, as well as possibly maintenance. The current owner is generally responsible for major repairs. Lawn care, pool cleaning, and other tasks are typically the responsibility of renters. Make sure to specify who would be answerable for big appliances, structural repairs, and regular upkeep in the rental agreement.
6. Sell Your House Directly
Typically, cash home buyers in Las Vegas, NV close faster and pay in full. Traditional property purchases frequently include requirements from banks, underwriting time, property inspection time, and the buyer may not be able to qualify! There are no commissions charged to a buyer’s or seller’s agent, resulting in considerable savings. Direct cash home buyers can also avoid transaction fees; if they do, they are very minor compared to the commission or closing costs you would have to pay otherwise. They may also deal with out-of-state owners.
One of the most common complaints about dealing with direct purchasers in Las Vegas is that the offers are frequently below market value, but this is for a reason! By purchasing your property as-is, the buyer is taking on a significant risk; it’s possible that your house is worse off than you believe!
In Nevada, direct cash home buyers buy houses as is. There’s no need to be concerned about prior repairs or any other unanticipated expenditures as a seller. Some businesses don’t demand inspections, making it possible for it to be an entirely as-is transaction.
Professional home buyers are simple to sell to. The process is outlined in detail and usually comprises of as simple purchase agreements with short, clear terms. You’ll be less exposed to legal risks. Under most traditional real estate contracts, a buyer has the ability to sue you if they believe they didn’t receive all of the information or if they feel the facts were misconstrued. Buyers who are direct have already researched the property and assumed that risk.
The unpleasant showings may bring back terrible memories. Forget about showing buyers or their clients your home. There will be no more furniture disputes! Buyers who make an immediate investment won’t be moving in. Most homebuyers will allow a move-out period after closing. This is particularly useful when closings occur so quickly.
If your Las Vegas house isn’t selling through an MLS listing, 664 Home Buyers can help you sell it quickly by providing quick sales. We make the process as simple and less stressful as possible.