This can include a number of steps. These may range from hiring a local real estate agent to help you understand the market to investing in renovations that will make your home more appealing to buyers.
Realtors have ten tips to help you get the most money when you sell your home.
Find a trustworthy real estate agent.
A real estate agent with local knowledge can help you get your home sold faster and for more money. Data provided by the National Association of Realtors indicates that, in 2021, houses listed without a Realtor fetched $260,000 as a median, while those with a Realtor fetched $318,000. Interview a few candidates prior to committing to one agent. The better you get along with them, the easier the process will be.
Invest in improvements that add value.
The cost of home improvements can quickly add up. Spend your money on the projects that provide you with the best return on investment. According to statistics from Remodeling Magazine, a garage door replacement is the most valuable investment in terms of ROI. A new garage door will typically return a little under 94 percent.
Jade Lee Duffy, Realtor at TXR Homes, San Diego, California, believes that minor kitchen upgrades can also be a good investment. She says that the kitchen is the heart of a home, and buyers often judge the property by it. While a major overhaul can cost tens or even hundreds of thousands of dollars, minor updates can yield the best results. Consider resurfacing the cabinets, replacing the countertops, giving them a new coat of paint, or updating fixtures and hardware.
Katie Severance is a Realtor at Douglas Elliman in Palm Beach, Florida. She says that updating a bathroom can be a wise investment. She says that renovated kitchens and bathrooms are “money rooms” — they add the most value.
Enhance your curb appeal.
It is important to pay attention to curb appeal. As the old saying goes, a good first impression cannot be missed. Lee-Duffy says, “Make sure that your front yard has no debris and that the bushes have been trimmed. The grass should also be cut.” Add some potted plants to the front of your home. This will make potential buyers feel more welcome.
Severance says that some easy updates can really increase curb appeal, such as adding window flower boxes, painting the exterior, and installing a mailbox. She adds that adding rich-looking mulch to shrubs and trees will really enhance their appeal.
Pre-listing Inspection
Another step you should consider is investing in a Home Inspection prior to putting your home on the market. Lee-Duffy says, “You do not want any surprises.” It’s better to know in advance if you can fix any problems before the buyers discover them themselves. This will give them more bargaining power or, worst-case scenario, an excuse to cancel the deal. It may be worth a few hundred dollars to have peace of mind.
A pre-listing check has its downsides. Severance warns, “Beware because if a seller is aware of a defect but does not fix it before listing, they will have to disclose it to the buyer.” “Defects a buyer discovers but does not disclose, before accepting an offer can ruin the deal,” says Severance.
Professional photos can help you highlight the positives
A little money spent on professional photography can help you sell your house for more. Lee-Duffy says that most people look for property online. If the photos are vibrant, they can translate to a higher sale price — and even sell faster.
When listing your home online, you may want to leave certain things up to the imagination. Severance advises against photographing each square inch of the house. The goal of photos isn’t to give away all the goodies online but to get a buyer to want to see more. It’s to whet his whistle enough to get him to see it personally. If they don’t make an offer, they will likely not visit the home.
Your home can be transformed with a little creativity
Severance says that there are two simple rules to follow when it comes to home staging: Less is more, and neutralize the space.
She says, “It is important to grab the attention of buyers at the front door.” Pay special attention to the entrance hall and make a big investment in staging. Paint and plant flowers; purchase a new rug, a large mirror, or an art piece.
Remove clutter and objects that can visually shrink the room. For example, large ottomans and too many plants. Also, remove all items from your kitchen counters except for a few new appliances. Severance says, “Don’t forget the patio or deck. It can help make a smaller home seem larger.
You can stage your home yourself or hire a professional. HomeAdvisor reports that a professional stager will cost anywhere between $749 and $ 2,825. The average cost is $1,728,
The right price to ask for
It is important to determine the best price when selling your home. A home that is priced correctly will draw more buyers. Lee-Duffy says that setting the price too high could be detrimental and stop buyers from coming through the front door. If you want to be cautious, price your product at the low end of the market to attract maximum interest.
How can you price your home to make a profit but not too high? Your agent’s expertise can be very valuable in this situation. A knowledgeable agent will know what your home is worth and how much it’s likely to sell for. Severance says that “good pricing requires expertise in threading the needle.” List at a price that is lower than similar properties to attract attention but not too low to be disappointed if only one buyer offers the list price.
Remove all personal items.
Severance says that the goal of a showing is to have the buyer imagine their belongings in the room. While family photos, knick-knacks, and other items may seem to have no impact on the price of your home, they do. This is especially true if you are living in it while trying to sell.
The buyer is thinking about their furniture and where they will put it. She says that buyers came to view the house, not its contents. Buyers who are distracted by their personal belongings will likely not be able to see themselves in the house and won’t make an offer.
Be prepared to move quickly.
After your property has been listed, things can move quickly. It would be best if you were prepared so you could respond promptly to any potential offers. Lee-Duffy says that you should fill out any necessary documents, such as seller disclosures, and keep copies of utility bills, repair costs, home renovation costs, and any other paperwork on hand for any requests from buyers.
Severance says that sellers who are unresponsive or slow to react can lose customers. She says that if a buyer feels they aren’t being treated fairly, they will most likely walk away.
Use your brain, not your heart.
You should also be clear about what issues and items you are willing to make concessions on if buyers ask. If buyers ask, be clear about what issues or items you are ready to give concessions. You may be surprised by the requests of prospective buyers for credits or repairs.
Severance says that it’s important to remove emotion from the situation and to remember that buyers don’t always expect to receive everything they request. Please take a closer, more objective look at the requests and then offer to meet them. You will not lose the buyer if you give the concession. Instead, it is the cost of re-listing the property, losing the buyer, and possibly getting a lower offer.
