6 Unusual Ways to Sell Your House Fast
So, you cleaned up your property, made a few fixes, hired a real estate agent and put a sign in the yard. But your house is still sitting there after months on the market with virtually no offers and all but a few visitors. What to do?
Selling a house through traditional methods can take a lot of time, which is not something all of us can afford. However, there are ways that you can accelerate the process if you’re ready to think outside the box. Here are six unusual ways to sell your house fast.
Hire a Feng Shui Expert
Home staging is all about creating an environment that potential buyers can see themselves living in while showcasing the house’s main features. You could take things up a notch by hiring a Feng Shui stager to make sure the home follows good Feng Shui principles.
The idea might seem kooky at first, but you’d be surprised at how many people actually follow Feng Shui and how much a house with bad Feng Shui could throw some buyers off, even if they can make adjustments themselves. So, hiring a stager who’s well versed in Feng Shui will allow you to reach a wider audience.
Turn Your Open House into a Party
It’s common practice to hold an open house and have a few goodies available for visitors. You could up the ante by turning it into a full party complete with catered food, wine, music, and prizes. The potential upside is attracting far more people into the home and ensuring that they’re in a great mood.
A nice open house party will generate tons of word-of-mouth publicity for your property. While you’re hosting the party, give out business cards with your realtor’s contact information. Or, you could hand out professionally printed brochures to guests that tell them all about your home. Use a service like this online store to order any handouts you’d like to give to visitors.
A good way to promote the party in advance is to have door hangers produced and hung on the homes of all your neighbors. This tangible item will be more engaging than a social media post while being far less likely to be shared online with strangers unlikely to ever show up.
Consider Creative Financing
There are people who want to buy a home but cannot qualify for a standard mortgage. Depending on your situation, you may want to offer more creative financing options. For example, you could offer a lease-to-own arrangement; every rental payment builds equity, but if they miss a monthly payment, you can evict them from the property.
A side benefit of this approach is that you get tenants who act like homeowners and maintain it far better than the average renter. You could offer to pay the closing costs or points to lower their mortgage rate instead of cash toward fixing up the property. You could even offer financing yourself, though this should involve legal counsel since you’re going to need to draft a private mortgage contract.
Throw In Something Extraordinary
When you’re selling a home, buyers may ask what is included in the deal. Most of the time, buyers will offer a basic set of appliances. Others will buy brand new appliances and throw them in to sweeten the deal.
But your home could stand out to sellers if you’re actually offering something different. A big-screen TV thrown in for free used to be a good incentive, but they’re so common that it doesn’t have as much weight with would-be buyers. You could offer buyers a furniture stipend, pool service for a year, or a free yard maintenance contract. These offers are valuable to a large number of home buyers and are a great way to set your house apart.
Give It Away – Sort Of
When all else fails, some buyers have even decided to offer their house as a prize in a raffle. And while it may seem like a crazy idea, the economics behind it are simple. All you have to do is divide the asking price by the number of entrants you want. So, if the property is listed at $75,000 and you want to set the limit to 1,000 entrants, then you could break even if you sell all your tickets for $75 a-piece. And not only that, but your property could get attention in your state or in your community and you could reach your objective much faster than you expect.
However, note that home raffles aren’t legal in all states, so make sure you understand the rules in your jurisdiction. If there are no such legal hurdles, this could be a viable alternative. Just make sure you write into the contest rules that the collected fees have to add up to enough to pay for property and administrative costs.
Auctions tend to attract deal-seekers, and this is in part because it is associated with foreclosed properties available at a deep discount. However, you don’t have to be in foreclosure to auction off a home. The same groups that auction off foreclosed homes would be happy to have you as a client. Just know that the cost of selling through an auction service could rival that of selling through an agent. You can set boundaries like not accepting a price below what you need to pay off the mortgage and the transaction fees.
Conversely, auctions are a great way to sell a house fast regardless of your circumstances. And they could lead to you selling your house for more than the asking price if you’re selling a home in a hot neighborhood. Another benefit of the auction sale is that the auction house already has a lot of real estate buyers monitoring events, who will come out to any auction they hold.
As you can see, there is more than one way to sell a house. Don’t be afraid to get creative and consider some of the options in the article if you want to increase your chances of closing a sale as fast as possible.