REALTOR TIPS: HOW TO SELL MY HOUSE FOR MORE MONEY
When it comes time to sell your home it’s natural to want to sell it for the highest value that the market will allow. Unfortunately, our efforts to sell for top dollar are often misguided, or they backfire completely. To make sure you’re on the right track, we’ve compiled these 5 tips from the experts.
Price Your Home Strategically
Once you’ve determined the market value of your home through a real estate appraisal, you may be tempted to list your house at a higher amount. Home-sellers often think that by over-pricing you will have some room to negotiate down and get the price you actually want. But according to Mark Ferguson, real estate agent and founder of Invest Four More, this strategy can quickly backfire.
“If a seller was to list their home close to what it is worth at the very beginning, they will get more money,” Ferguson says. “Buyers will see the home come up in the price range they expect and go see it right away. When it is overpriced, the buyers won’t want to see the home or may not even know it is for sale.”
Most real estate agents agree that the longer your house is on the market, the harder it is to sell because people begin to wonder what’s wrong with the house. Don’t make it harder for yourself by over-pricing from the beginning.
Consider Your Online Presence
Making the house look good in person is important, but you won’t get anyone in the door if your house doesn’t look good online. 83% of all home buyers want to see pictures of the property online, often as a prerequisite before they’ll even consider looking at the home in person.
“Selling your home for top dollar is all about first impressions,” says Jeffrey Mills, co-founder of AE Home Group. “When publishing your listing, never skimp on professional photography. A professional with an HDR wide angle lens can make your home look larger and more appealing. The better your home looks online, the more buyers you’ll have setting up showings, and the better the chance of you receiving top dollar!”
Make sure you’re using all of the online tools at your disposal to get more eyes on your listing. That might mean employing tools such as Zillow or Trulia, or even using your Facebook, LinkedIn, and Twitter accounts to spread the word.
Spend Time On Staging
Before hiring a photographer to get those pictures online, consider staging your house first. A little bit of decluttering and rearranging can go a long way to make your house feel more inviting, seem larger, and help visitors imagine living in the home.
“While this is typically an extra cost to a seller, NAR data indicates that staged homes sell much faster and for up to 10% more than homes that aren’t staged,” says Sheri Wytcherley, Principal Broker and Instructor for AYPO Real Estate. “Additionally, 49% of buyer’s agents say that staging listings had an effect on the buyer’s view of the home.”
If staging is not an option, take time to paint, clean, and organize. It might be worth it to hire professional cleaners and landscapers to do a deep clean of your house and yard. “The effort will pay a return on the time and money invested,” says Wytcherley.
Do your best to remove distracting personal memorabilia before showing your house to potential buyers. While this may seem like an unnecessary effort, you want to give them a chance to envision their own family in the house.
Be Smart About Renovations
It can be tempting to make major renovations in an attempt to sell your home for an increased price, but approach renovations with caution. If you’re not getting more than a dollar-for-dollar value, it might not be worth the investment. Don’t spend thousands of dollars tearing out your kitchen and replacing it, only to find that the market value of your house hasn’t changed at all.
Emile L’Eplattenier, Real Estate Analyst for Fit Small Business, suggests making minor changes that can have a large impact on aesthetics.
“While common advice dictates replacing kitchen cabinets, backsplashes and flooring, in reality buying and installing materials that will appeal to every buyer is nearly impossible unless you have access to an interior designer and a huge budget,” L’Eplattenier says. “Instead, let your buyers put their own aesthetic stamp on the kitchen and give them something everyone loves: natural light.”
Knocking down a kitchen wall or adding a window or a skylight are simple changes that have a huge return on investment, dramatically improving the visual appeal of your home.
Make Sure You’ve Hired the Right Agent
Last but not least, there is no substitute for a reliable real estate agent who is willing to collaborate with you and make that extra effort to sell your home.
The reality is the sale of every home is different, and you’ll want a trained professional to help walk you through the complex process of a real estate transaction.
If you’re looking to sell your home, it’s vital that you price your home strategically, build your online presence, and make plans for staging and renovations–but your first order of business should be to find a realtor and begin consulting with them. With their help, you can rest assured that you’ll be selling your home for top dollar.