Seven Steps to Sell Your Home Faster for More Money

Winning a buyers trust directly and immediately has become increasingly important as most home searches have moved online. Andrey_Popov/Shutterstock

Dear Monty: Our home has been on the market for a month. We have a sign in the yard, and we bought an ad on an FSBO website. So far, we’ve had no offers. We’ve had several showings, and they seem interested, but only at a low price. They want the commission we are trying to save.

Agents call looking for a listing but have yet to bring in a buyer. They say the market has softened. We are discouraged but are not ready to pay a commission. Do you have any suggestions?

Monty’s Answer: There are buyer’s, seller’s, and balanced markets today. High interest rates and economic worries have taken many buyers out of the market or forced them to lower their expectations. However, you can still significantly improve your chances of selling your home on your own and for a higher price.

The Background

In the 1950s, many homebuyers complained that they were deceived when purchasing their homes. After moving in and/or early in their occupancy, they discovered defects that were not disclosed, or hidden. They blamed home sellers (including for-sale-by owners) and real estate agents. The effect of these many complaints inspired two reactions. Some creative observers began charging buyers for home inspections. State governments created legislation requiring home sellers to reveal defects and needed expensive repairs.

The Evolution

It took 50 years for these ideas to evolve into a new industry—home inspections—and 49 of the 50 states require home sellers to provide seller condition reports to homebuyers.

Then something big happened. About 20 years ago, the internet and technology came along, and people discovered that it made their lives easier. They became educated and evolved along with it. Consumers have become more innovative. Today we expect everything to be fast, good, simple, and cheap. Who would have thought 20 years ago that you could shop for appliances, buy them online, and have them delivered and installed without leaving the house?

The Real Estate Solution

The competition for homes has moved online. Over 90 percent of homebuyers today say they found their home online. One of a homebuyer’s main concerns is still condition. So, to compete, whether you are FSBO, an agent or any seller, you can be successful by gaining the buyer’s trust upfront. Here are the steps:

No. 1: Have your home inspected before you put it on the market.

No. 2: If defects or worn-out components exist, either fix or acknowledge them with a credit.

No. 3: Clean, paint, and fix it up.

No. 4: Provide the seller’s condition upfront and report honestly: transparency builds trust.

No. 5: Make a video so a buyer can tour the home online. You both save time, and buyers appreciate it.

No. 6: Get involved. Be available when a call comes and be there when showing the home. Follow up.

No. 7: Find an online home for your data and post all your work upfront to make the buyer’s decision easy.

Customers will respond when you put forth the time, money and effort to present your home at its very best. They will pay more for a home that requires no work and demonstrates pride of ownership, especially if you make it easy. Homes positioned like this sell themselves in any market.