Selling a Home Fast Isn't Always Best

1. You monitored the Brookings housing market and what other homes in the area were selling for.
2. You hired a professional to perform a home inspection and made all of the recommended repairs.
3. You made any necessary home improvements to the interior and exterior of the house.
4. You paid attention to every detail, even enlisting the help of a home staging expert to lend a hand with décor and curb appeal.

Within 48 hours you received an offer on your home. Wow, that was quick! Right? But should you take the very first offer? Maybe. Continue reading as the Brookings Home Team explores a few scenarios in which selling a home fast isn’t always what’s best.

A Quick Home Sale May Not Be the Best Home Sale

Special circumstances and life events can influence a home sale. The real estate market could be booming and you’d like to strike while the iron is hot.

Maybe you’ve accepted a new job and you need to relocate to a different city.

It could be you’ve already closed on a new house and having two mortgages for an extended period of time simply isn’t feasible. While there are certain situations in which a faster home sale is ideal, if you’re unprepared for a quick real estate transaction it may cause you to second guess your decision.

Scenario #1: Did you sell your home too cheap?

Chances are, your home is probably your largest investment and it would be devastating to leave money on the table. A fast home sale could have you second-guessing your asking price and whether or not it was too low; however, there may not be any reason to worry.

It might be a seller’s market and when the housing supply is limited, properties tend to move quickly. The fear of not maximizing your home’s value is a valid concern but if you enlist the services of a Brookings REALTOR® (like the ones found on our team), they can help you correctly price your home and eliminate the fear of selling for too little money.

Scenario #2: You aren’t on the same timeline as the buyer.

Maybe your motivated buyer has bumped up your move-out timeline and the process of selling and buying a house at the same time is more challenging than you expected. A quick sale might leave you scrambling to pack up your things and make the necessary arrangements, but it’s important not to stress. If you’re happy with the purchase price, that's all that matters.

Sell Fast and Get the Most Money for Your Home at the Same Time

If you’re selling a home in Brookings, SD, the objective is simple: try your best to balance the price and speed of the sale. Sometimes this can feel like walking on a tightrope, however. Check out this list of helpful tips from the Brookings Home Team to not only sell your home fast but also maximize your dollar at the same time.

Tip #1: Roll out the welcome mat.

A welcoming house will attract more potential buyers. Don't ignore home repairs. Make time for backyard improvements and projects to increase your curb appeal. Consider the help of a home staging professional. At the very least, make sure you clean and declutter your home to make it more inviting. Remember, the buyer needs to envision themselves living in your house.

Tip #2: Price your home correctly.

It's crucial that your listing price matches the current housing market. If your home is priced too low it could lead prospective buyers to believe there might be an underlying issue with the property. Another unintended consequence of a lower listing price is making potential buyers think there is no room for negotiation.

Tip #3: Utilize the power of zero.

In order to maximize your dollar, it's just as important to maximize your home's audience. How can you get more eyes on your listing? Utilize the power of the zero. If you list your property for $300,000, you will most likely show up at the higher end of a $200,000 to $300,000 search, as well as on the lower end of a $300,000 to $400,000 search.

Tip #4: Consider selling your home during the summer.

While there are certain advantages to selling your home in the winter, typically, the best time to list your house is during the spring with the hope of a summer sale. Homebuyers have more free time thanks to summer vacations and warmer weather always seems to increase foot traffic. Waiting to list until later in the summer could lead to a fall sale, which means the kids are back in school and the holidays are drawing near, potentially causing delays in closing.