Over the past three years, home sellers in Bixby have done quite well. Inventories were low, so if a seller wanted to sell a house fast in Bixby, all they really had to do was list their property and offers would come rolling in.
But unfortunately, the tables have turned. With a recession possibly around the corner and mortgage rates on the rise, the real estate market has cooled down, and a lot of home sellers are feeling like they’ve missed the “prime selling window” that was open over the last few years.
If you’re a homeowner who’s wondering “how can I sell my house fast in Bixby during an economic downturn,” then this article is for you. Here, we discuss some mistakes that sellers commonly make, and you must avoid them if your goal is to make a quick sale.
Mistake #1: Pricing Your Home Too High
During the pandemic, home sellers in Bixby could list at prices well above what their homes were actually worth, and they’d still get numerous offers. However, this isn’t the case anymore. Since more homes are available, recession fears have taken hold, and rates are rising, buyers are thinking twice before making an offer, and many are choosing to wait.
Therefore, if you’re looking to make a quick sale, you’ve got to price the home correctly. Do a comparative analysis using similar homes in your neighborhood to determine a fair price. Essentially, you’ll see what similar homes sold for recently and price your home accordingly.
Mistake #2: Don’t Delay Responding To Offers
Previously, home sellers didn’t have to get back to interested buyers right away, and some would intentionally respond slowly in hopes of getting more money. If you choose to operate this way in the current housing market, you can be sure that buyers will lose interest in your property and go elsewhere.
That said, you should respond to a buyer’s offer either 24 or 48 hours after receiving it—the sooner the better. If you need more time to consider a buyer’s offer, let them know so they don’t feel like you’re blowing them off. Doing this will demonstrate to the buyer that you’re thoughtful and respectful of others’ time.
Mistake #3: Making It Impossible To Arrange Showings
When you sell a home the traditional way, home showings and open houses are standard. That said, showings can be a major hassle for homeowners, especially when you have a busy schedule and the home is still occupied. Cleaning and staging before showings can also be expensive and time-consuming.
If you’re looking to make a quick sale, you must be flexible when it comes to hosting showings. That is, you should accommodate interested buyers, as doing so will lead to you getting many offers. And this doesn’t mean you have to devote your life 100% to hosting showings and open houses. Just make sure you have showings and open houses on the weekends, as most buyers are free then.
Wrapping Up: Avoid Common Mistakes And Make A Quick Sale
In 2020 and 2021, home sellers did great, as many buyers were willing to pay top dollar for homes that could accommodate their work-from-home lifestyles. But the economy has slowed, and with it the pace at which homes are being sold. Therefore, if you want to ensure a quick home sale, you need to avoid the mistakes above. And if you want to avoid all the hassles described above and sell your Bixby home quickly, reach out to Oklahoma Cash Home Buyer. We buy houses in Bixby in any condition, and we’ll pay in cash at closing. If you accept our offer, we can close in under 30 days.