It is not easy to sell a house these days. The market has been fast for some but slow for others, and there are many reasons why you may be having a hard time selling your home. This article will discuss the current real estate trends in Texas, alternative ways to sell your home in Texas that have worked for other people, and how alternative ways to sell a house can help increase chances of success!
Why It Might Be Hard to Sell a House Right Now
It could be hard to sell a house in Texas these days because of seller competition. For example, there might be other houses listed on the market like yours for sale. Or maybe there are houses in better condition than yours for sale, making it challenging to find a buyer.
Fortunately, the real estate market in Texas is a strong market with home values on the rise. As the population continues to grow, the housing needs of Texans will also grow. Within the last year, the price of housing has increased by more than 17.5%. The increase in home prices can be attributed to both an increasing number of buyers and a decreasing number of homes on the market, making it a somewhat crazy time to buy a house.
However, during the busy summer months, the best time of year to sell a house, there are plenty of available homes to buy, making competition fierce. So should you sell your house in 2021? Absolutely, but to help your listing stand out amongst the crowd, you may want to consider different ways to sell a house in Texas.
Below we’ll take a look at some of the different ways to sell a house that may be helpful to you.
Different Ways to Sell a House in Texas
It would be helpful to look for different ways to sell a house in Texas because it shows you are willing to explore all the options and go out of your way to sell your home. Below are five alternative ways to sell your house in Texas that may be helpful.
Alternative #1: FSBO in Texas
Selling by owner, also known as FSBO, may be a good alternative for some who want to sell their home in Texas. This alternative will eliminate the commissions that are charged by a real estate agent. It has been estimated that these commissions can cost anywhere from 5% to 6% of the selling price. Selling a house is expensive, and anything to reduce the costs can be helpful for many people.
One of the drawbacks of this alternative is that it does take time as well as skills in marketing, negotiating, and closing deals. Therefore, it may not work out if you are unable to do these things yourself or would rather hire someone else for those services. However, there are easier ways to sell a house, including selling your house online, which is worth looking into.
Alternative #2: Using Social Media Advertising to Sell Your House
Another alternative way to sell a house and can be a very effective method is to use social media advertising. Social media sites are both free and widely available in this day and age. This makes it a great alternative to expensive print newspaper ads and flyers or simply relying on word of mouth. Additionally, because many people find out about new homes for sale in their area by checking online, you’ll have a higher chance of reaching them with your advertisements.
You’ll just want to make sure to post your listing with professional photos, make the listing public (not set to private), and share your contact information for people to reach you if interested. The important thing is to stay on top of the latest trends by using social media advertising among alternative methods for selling your home in Texas.
Alternative #3: Offering One-Day Incentives to Texas Homebuyers
Offering incentives might make it hard for a buyer to resist purchasing your home over another. Below are some examples of one-day incentives to try to sweeten the deal and get an offer.
- Think about Reducing your Asking Price
Nothing helps sell a property faster than dropping your asking price. You’ll just want to figure out a reasonable reduction. Of course, you don’t want to give your property away, but you don’t want to see your home linger on the market either. A house with a high DOM (days on market) typically turns off buyers and could make your situation look desperate.
- Offer Seller Financing
You can always help finance the buyer’s purchase, which may help the buyer avoid paying costly private mortgage insurance (PMI).
- Offer ‘Cash-Back’
Once you find out what’s holding back a prospective buyer from making an offer- maybe it’s the termite damage around the window frames or the water damage from a leak in the roof– offer the buyer credit towards the repair or replacement.
>> If you don’t have the extra money to provide a buyer credit, but your home requires several major repairs, you can always sell your house as-is instead.
- Pay a Portion of Closing Costs
A new homeowner faces several expenses, including closing costs, ranging from title insurance, escrow fees, inspection fees, homeowners insurance, private mortgage insurance, and taxes. By offering to cover some of these expenses, you’ll help soften the financial blow.
- Offer to Buy Down the Loan
This incentive might work even better than reducing your asking price because buy-downs (paying points to lower the borrower’s interest rate) will produce even greater savings over the life of the loan.
Alternative #4: Create Interesting Spaces with Unused Rooms
If you happen to have an unused room in your house that could be repurposed, it’s time to get creative. For example, you could turn it into a home office or a nursery. Staging rooms for specific purposes helps buyers see the functionality and potential of a space.
This can be a great alternative way to sell your house because buyers can see how much living space there is and help your listing stand out. In addition, you might find buyers who would like a movie room or office, and seeing the room staged can help them envision that.
Alternative #5: Sell the Area as Much as the House
You may be tempted to promote the house itself over the surrounding neighborhood, but a buyer who falls in love with your area is more likely to purchase any home there. Highlighting the area and community can also be helpful if your house isn’t in the best condition or is in need of a few repairs.
You’ll also want to make sure to promote in your listing description how great this particular city and its community are, so people want to move here too. This means talking about schools, parks, or even local events happening each month; all the good qualities of living in this specific town.
Unfortunately, there is no guarantee that using any of these alternatives will provide a buyer for your Texas home. So if you’re in a position that requires you to “sell my house fast Fort Worth,” you might want to consider working with one of the companies that buy houses in Arlington.
There are several cash home buyers in Texas, but Four 19 Properties is one of the top real estate investors in the area. They are also BBB accredited and family-owned. By working with a BBB accredited business, you’ll be able to avoid house buying scams and receive a no-obligation cash offer within 24-hours and close in as little as 7-days.