Your home is a large asset and selling it requires thought and strategy. Once your home is on the market, the process may move very quickly, so you need to ensure you’re ahead of the game. Your property has the best chance of selling within the first few weeks on the market, thus getting it into top selling shape before it hits the market can increase your chances of selling within the desired time frame and at top dollar.
Seize control of the home-selling process with these 5 general tips:
1. Determine Why You Want to Sell
Identifying the reason(s) why you want sell your home will help direct the path you take in the home-selling process. The goal of making a quick sale on your current home because you have already purchased a new home, for example, will require a different approach than the goal of netting the highest price possible for your home and preparing for a potentially slower process. Be clear about the reasons and they will guide the amount of time you have to put into preparing your home for sale and the amount you set for your asking price.
2. Do Your Homework
Once you have established your reason(s) for selling, you will likely start thinking about things like your home’s value, what’s happening in the real estate market and what kind of agent you would like to help sell your home. A good way to get started is to educate yourself by exploring other homes on the market. Take advantage of open houses in your area, particularly those of properties similar to your own. Observe features such as appearance, floor plans, lot sizes, location, then compare asking prices. Start looking at your home with a more objective eye, with respect to what needs to be done to get it in ship-shape condition, with the end goal of attracting the right buyer and maximizing your home’s value. By doing a little bit of homework you start getting a better idea of what you need to sell your home and will make it easier to select the right realtor.
3. Choose the Right Realtor
Your choice of realtor will greatly influence your home-selling experience. Don’t take this relationship lightly. This person will be with you every step of the way and will make a difference in the speed with which your house is sold, how much it sells for and how enjoyable and protected you are in the process.
Consider a few realtors before you narrow your choice. Of course, one of the initial factors to consider will be whether the realtor’s personality and enthusiasm are a fit for you and your family. Potential realtors should be able to provide you with extensive details on comparable properties that have sold in your area, their philosophy or method of negotiation and details, with possible examples, of the marketing strategy they would use to sell your home.
4. Set Your Price
Listing your property at a competitive market value from the outset can make the difference between a quick sale and not selling at all. Today’s market is competitive. Overpricing could potentially result in minimized offers, fewer showings, fewer agent responses, limited financing, limited buyers qualified for your type of home, or a decreased net price. Underpricing might get a lot of responses, but you leave money on the table. Setting the optimal price can maximize the sale price and minimize the time it takes to sell.
Setting the price is no easy task, but it’s a critical one that requires strategic thinking, local and national market knowledge, analysis of similar listings and past sales —all combined with your specific needs and the right approach to market your home. Pricing your home right the first time results in more exposure, more showings, more offers and, ultimately, the best price for your home.
5. Prepare Your Home
Make no mistake, prospective buyers will be turned off by even a minimal lack of cleanliness or hint of an odour. Sellers may lose thousands of dollars by failing to thoroughly clean a property before showing it. Begin by clearing and cleaning. Clear your home of clutter and excess furniture. Create more space. Make every room sparkle. Eliminate odours. You may be the last to notice a peculiar odour in your home, but it may be the first thing a potential buyer notices. So, air out your house prior to showing and keep pets and any household smokers outside. Remember that buyers are looking for a home that most closely suits their own possessions, not how well it showcases yours. Cluttered, ‘personalized’ homes do not portray the show-home feel buyers are looking for in a home.
A fresh coat of paint may be one of your best investments when preparing your home for the market, as new paint can take years off a home’s appearance and dramatically increase its perceived value. Likewise, consider replacing carpeting that appears worn, or outdated. The paint or carpet in one room could make the difference in a successful sale.
To appeal to the highest number of potential buyers, consider using a company to stage your home. Staging is like a cosmetic makeover for a home that often involves removing lived-in furniture, painting over walls with neutral colours and adding eye-catching aesthetics. The real estate industry estimates that staging a home can add between 6% and 15% to the asking price. Remember, too, that a potential buyer’s first impression is formed while approaching your home, so ensure your home possesses a certain ‘drive-up’ appeal. If a buyer doesn’t like the outside of your house, he or she may skip it entirely. Trim the trees, sweep the walkway, cut the lawn, perhaps even paint the door and put out a new, plush door mat. All of these little things contribute to the overall effect of a well cared-for and welcoming home.
To learn more or to receive an extensive home-selling guide and strategy tailored for you, contact Kyle at email@example.com.