Discover the best way to sell a house fast in any market using my magical 3 step formula. I have perfected this approach to house selling over two decades. It’s been tested literally thousands of times, in good markets, bad markets, dropping prices, rising prices, inner city, suburbia, rural, you name it. This technique for selling a house will not only put more money in your pocket, but you'll sell your house as fast as it can possibly be sold. This is truly the best way to sell a house fast in any market.
3 Step Formula for Selling a House Fast
The Freedom Mentor 3 step formula for selling a house fast is based on this fundamental truth: that your best buyers are already in the market waiting for your home. They're already pre-qualified and maybe they missed out on another house recently because of a bad inspection or a multiple offer situation that they lost. Or perhaps they just haven't found the right home yet. Either way, they're your best buyers because they're ready, willing and able to buy right now. So, this formula is based on attracting and locking in these buyers. We call them buyers in waiting.
Step 1 - Maximum Exposure
List on the MLS
The first step is to attract every buyer in the marketplace, which means getting maximum market exposure. Everyone needs to know that your house is for sale, so we simply list it on the local MLS system. That local MLS also needs to propagate the listing to Zillow, realtor.com, Trulia, Redfin and any other online site. The MLS that I work with here in Florida, has a checkbox that you uncheck if you don't want it to propagate.
Once your property is listed on the local MLS, every buyer's agent in the marketplace that has a notification set up will get notified. Meanwhile, every buyer that's set up a saved search in Zillow, Realtor, or any of those other sites will get a notification email. The reason this is such an effective step is because the moment you list it on the MLS notifications are going out.
Now this is incredibly important to the formula. What we're trying to do is not only attract these people, but to create a buzz - a flurry of excitement that builds momentum. We activate all these notifications; they see a new property has hit the market and they feel that they need to move on it quickly.
Flat Fee vs Full Service Listing
Flat Fee Listing Service: To get your listing on the MLS you need to hire a real estate agent. Now, experienced real estate investors, those I teach and mentor on real estate investing, we use a flat fee listing service. With a flat fee listing service, we only have to pay $400 or $500 flat fee rather than 2 to 3% of the total sales price. If you're in a program like Freedom Mentor and you know what you're doing, go with a flat fee listing service because it will save you money.
Full Service Listing Agent: However, if you're not experienced you do need to hire a full service listing agent. And if you do, you might as well pick the very best one in the market because they all charge the same fee. So don't just go pick your family member or friend because they're an agent. Pick the best of the best if you're not experienced.
When you hire a full service listing agent, tell them you want to follow this formula. They won't complain about it. In fact, I’ve had real estate agents that tell me that they send their clients my videos and say, "Watch this before you hire me.” So, say that you want to follow this formula and you will sell your house faster and make more money.
Maximum Market Exposure
Investors that do a lot of wholesaling assume you need to have a buyer's list. However, the reality is getting the property maximum market exposure is always the best idea to sell your house fast for the most money. I have a video on why building the buyer's list is a waste of time called Building a Buyers List is a Bad Idea. You can watch that video to learn more on that topic.
Also, some investors like to give preferential treatment to certain buyers or agents, giving them the opportunity to make an offer on a property before they list it. Do not do that! You need maximum market exposure. You want your listing to be like a launch - a huge announcement the everyone sees at the same time to create competition.
Step 2 - Very Attractive Listing
You only have one chance to make a first impression. And that breaks down into basically two items: price and pictures (and to a small degree description, but that doesn't matter as much as price and pictures).
Price, Price, Price
You’ve heard the old saying in real estate that it's location, location, location. Well, when it comes to selling a house, it's price, price, price. Figuring out what price will attract the most buyers is the most important thing you should focus on in this process. And that is primarily for this reason. When your listing notifications are being fired off, what we don’t want is for buyers or agents to hit delete. Why would they hit Delete? Primarily because of price.
If they are serious in the marketplace, they will know what the price should be. What you want is for them to see that opening picture, and go, "Wow, that's kind of a good price. Oh wow, that's kind of a good price for a nice home." That's what you want. Remember, you have one chance at this, so you need to do it right.
The biggest mistake anyone can make in selling houses is to price high thinking you can always drop it later. I have a video on this called the Kiss of Death When Selling a House, and that's the kiss of death. You want to price it competitively, lower than your competition. You need to make your price attractive, although it can't be too low. If it's too low, they'll think something's off. It needs to be just low enough that people won’t delete their notifications but want to go do a showing. And that's really the purpose of an attractive listing. We're trying to get them to schedule a showing, and that means that the price needs to be competitive and attractive.
Pictures and Digital Staging
It also means your pictures need to be professional pictures and you need to have them digitally staged. I have a great video on digital staging as well. You don't need to physically stage your house. You need to digitally stage it and that's done once you have your professional pictures. So, now that you have:
- Listed your property using professional pictures with digital staging
- Priced it competitively
- Launched it with maximum market exposure
- All these people that received the notification about this new listing want to schedule a showing
- Your showings are moving quickly, one after the other, creating that sense of urgency and competition. (We've had situations where cars have been lined up down the road. We love that circumstance!)
Now that you have the marketplace right where you want it, you better not drop the ball. Don't screw up this next step.
Step 3 - First Offeror is Best
Let's ask this basic question. If you have several different offers that come in, the first one that came in is usually the person that what? Has been waiting for your deal the most. They know it's the right one and they want to put it in fast so they can beat everyone else. So, your first offer is usually your best.
Use Multiple Offers to Push Up the Price
It’s critical that at this point you don't get arrogant and start thinking you can wait until someone offers you $100,000 more. Instead, you need to be strategic on how you make sure that your first offeror's price is the highest. Now typically, if you followed the formula, you would have a multiple offer situation, which is exactly what we want. So, since we started with a low price, we’re going to use multiple offer situations to push that first offer up.
- What if you don’t have multiple offers? Well, there are some people that have called an iBuyer to get an offer so they can legitimately say that they have multiple offers.
- What if the other offers are low? The offers could be low, they may not even be good. But one of the offers is going to be solid and strong, and that's the one you're trying to push up with a multiple offer situation. It's also an opportunity to negotiate terms.
You need to fine tune and lock down that buyer. At this point you don't want to get arrogant, you need to be very appreciative of what's happened. You also need be strategic.
Be Patient: If an offer comes in five minutes after you list it, be patient. Slow walk that several days so you have a multiple offer situation.
List on Thursday: We like to list on a Thursday evening so that all Friday they can schedule the showings for the weekend. That way we don't have to commit to doing anything in terms of an offer until well past Sunday. Sometimes agents will call you and say, "Hey look, if you say yes to this now, I'll submit this offer." Your answer needs to be, "Please submit your highest and best offer. I have a lot of showings this weekend. We want to make the right decision and we can't do that by doing side deals."
So, handle this strategically. If you have a professional agent with you, they'll know how to handle it. We have detailed training in our apprentice program of how to handle multiple offers situations. And it doesn't mean that you just pick the best one. You might take the best one and still renegotiate with them on some other terms. But by using this strategy, you're not only getting a fast offer, you're also getting a great offer. It puts you as the seller in the driver's seat and the buyer who is interested knows they must put their best foot forward when they make the offer.
Freedom Mentor Apprentice Program
The Freedom Mentor 3 step formula for selling a house fast can be used on every deal. We apply this formula every single time and it works incredibly well. If you want to learn more about how to work with me and my team, to get mentored and become a first-class market leading money-making machine of a real estate investor, consider applying to my Apprentice Program.
Jon M says
Hi Phil, I watched your video on Best way to sell a house fast. I do have a buyer, and looking to sell my home “as-is”. Do you think I should put it on the MLS? Also, do I really need to find a real estate agent? Or can I go on my own? Thank you, Jon
Phil Pustejovsky says
If you want the most money from the sale of your home, either list with a flat fee agent or a full service broker. But get it on the MLS.
Stephanie Ann says
Phil, we are a very happily-married couple and we’ve got to say….WE JUST LOVE LOVE YOU !!!! So — it feels like you’re family (or “mishpochah” as we say!). Thanks so much for your wisdom-gleaming videos. I’m 72 years old and still have that forever craving to buy more property. I began to “flip” houses when I was in my 20’s (before that term was ever invented!) Had no money. I bought them so cheap that once, I placed a property on my charge card! Made them look beautiful and sold them with ease. It’s a little more complex in these modern days, and YOU help so graciously to shed updated light on the profession. Thanks for your contribution, Phil, to a marvelously-lucrative profession. We appreciate you!
Phil Pustejovsky says
Thank you so much for sharing! It brings such a smile on my face to hear that you were flipping houses before I was born. What a wonderful life you have lived thus far.
William Anderson says
Hi Phil! Do you think I should wait till after new year to list house that’s ready now?
Phil Pustejovsky says
If you want to sell it, list it right away. Interest rates may further climb which reduces buying power.
Cliff Fung says
Thanks Phil, good to know the selling houses strategy.
All the best to you, family and your teams.
Frank Ryder says
Good stuff I needed that flat fee way, I’m going virtual now that will work for me. I’m licensed in Philadelphia as a realtor and I’m getting my broker license next month. Phil keep this going its been a while since you made a video
Frank Ryder says
Hey Phil long time you post how you been I know you have to be busy as hell keep making it happen and hit me up on my email when you have time to talk