How to Beat the Competition in a Hot Housing Market

When you’re trying to sell your house, the competition can be fierce. This is especially true if you’re in a buyers market: when there are plenty of options for buyers to choose from. So how can you make your house stand out from the rest and get potential buyers to make you an offer?

To sell your house in a competitive market, you need to think like a marketer. Here are a few actionable ways to sell your house quickly and stand out in a hot housing market.

Consider a Buying Service

If you’re on a time crunch and need to move quickly, consider selling your house as-is to a buying service. This also gives you the opportunity to make a cash sale and avoid fees and commissions.

Home buying services aren’t for everyone. You may get less money than you would if you waited out the market and sold your home through a real estate agent. However, reaching out to buying services is a great way to stand out and get offers so that you can move as soon as possible.

Invest in Repairs

Potential buyers are more likely to purchase a home that they can move into without worrying about repairs. Investing in the repairs beforehand give you a unique selling point to include in your listing. Perks like a pumped septic field, new shingles, upgrades to smart heating technology, etc. will all give potential buyers reason to pause and consider your listing.

In many cases, if you sell your home without the repairs being done, you end up losing more on the asking price than you would otherwise. Don’t just focus on the big repairs; small repairs to chips in the paint, cracked tiles, and loose fixtures all go a long way as well. Have a realtor do a walk-through and make recommendations on what should be addressed.

Invest in Staging

Selling a home requires finding a balance between making a home look lived in without making it look too personal. In other words, you want potential buyers to be able to see themselves living there. If you have a penchant for ultra modern sculptures or a substantial collection of action figures all over the place, a potential buyer will be too distracted to see beyond your belongings.

Pack up as many of your personal effects as you can, and invest in staging. Staging experts can set up your home in a way that makes it feel like it could be anyone’s home, especially during viewings. This is also a great investment for those who move away before their home is sold, as a house with furniture is more likely to sell than one that’s empty and appears cold.

Offer a Cash Rebate

Talk to your realtor about offering a cash rebate on your listing. This incentive works wonders when standing out in a competitive market. Would-be buyers see this as a great way to offset some of the costs of moving, and, let’s face it: no one can resist the call of cold, hard cash. 

Many realtors are using cash rebates as a marketing tool to attract avid DIYers who plan on doing some work to the house to make it a home. Some realtors are even offering a portion of their commission, as having the increased interest ultimately saves them a lot of legwork. This is also a powerful incentive for realtors who are competing not only against other realtors, but also those who take advantage of technological advantages to find and purchase a home without assistance.

Do a Pre-Inspection

Having a pre-inspection done not only saves the buyer time and money, but it is also a sign of good faith from the seller. The pre-inspection tells buyers exactly what to expect and builds trust when searching for a home. Furthermore, this can be a source of insight for sellers who want to understand which repairs need to be done.

By trying some of these tactics, and ensuring your home is clean and tidy with strong curb appeal, you’ll be able to stand out in a competitive real estate market.