4 keys to sell a home quickly

What do I need into account to sell my house quick?

This information is based on an article from José Muñoz, a professional investor, with years of experience and the author of the book “La formula IN” A definitive guide to investing creatively in homes and achieving financial freedom.

Key #1: Price

What a surprise, right?

However, you must tread carefully.

It’s normal for the owner to want the maximum amount from the sale of their home.

What happens is that it doesn’t make much sense to set a price that is exorbitantly higher than the market price because what is going to happen is counterproductive.

If we have a house that is objectively worth €100,000, the most that the market will tolerate is that the starting price is 5-10% above that figure.

If you put an even higher price, what will happen is that no one will be interested.

You may have liked it, but potential visitors will think:

Uff…this person lives in a distorted reality; I don’t feel like doing business with someone like that. Better not even try and keep looking.

That is why if a seller wants to obtain the maximum benefit from the sale of their home, they must take into account the market price and not deviate too much from the prices of similiar properties.

Remember that the market is always right.

Key #2: Term

Here we usually move in extremes.

There are people who get desperate if they haven’t received 25 offers the first week and there are others who can put their house up for sale for years even if they don’t receive any, hiding behind the classic “I’m not in a hurry”.

Okay.

A house that has been put on the market at a suitable price usually takes between 30 and 90 days to sell.

But if it takes 6 months it is normal too and nothing happens.

Keep in mind that the market works by “micro-markets”, it is possible that in small towns where there is less movement or in very seasonal micro-markets extra time is needed.

If the house is high ticket, say more than a million euros, the process can take even longer.

Though not always. Remember that the market works by micro-markets.

I already told you that the important thing is to respect the previous key.

Choose the price well and put a slightly higher margin that gives you ‘wiggle room’ to any subsequent offer, as this way it will allow the buyer to be satisfied with the feeling of savoring a sweet victory. This is the third key.

Key #3: Negotiation

That’s how it is.

We Spaniards as many others like to negotiate.

A good reason to put the starting price 5-10% above the market, in addition to ensuring that we are going to get the most out of the offers we receive, is precisely…

Keep in mind that we will have to negotiate.

And allow our buyer to feel like a winner in the negotiation.

We will achieve this by giving up a little on the price, people are usually satisfied if they can save the expenses inherent to the sale.

Lower a few thousand euros so that the buyer feels that he is reaching a good agreement.

This will facilitate the operation.

But watch out.

If the price was well set, this negotiation should never mean that you drop the price to the ground.

We are talking about going down 2-3%. No more.

I also tell you that if you hit the nail on the head with the price you will have a lot of demand and you will not have to discount anything.

Key #4: When?

There are certainly periods that we should avoid.

For example, spring is usually the best time. Why?

Perhaps it is because it is in no man’s land between Christmas and summer, which are the two conflicting times that we must avoid.

Immediately after Decembers Christmas break, might not the best time to put your house up for sale because people are busy with other things and concentrating on getting back to normal after the December festivities.

The months of July and August are also times when the market slows due to the annual holidays.

And that’s about it.

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