Selling a home is a challenging, time-consuming, and complicated process, especially when looking to make the most out of your sale. This is because there is a surge of sellers in the market, not to mention buyers are also looking to save money on their home purchase. Read on for six tips for selling your house for more.
1. Pick the right real estate agent
Unless you are an investor or a real estate agent, you should consider hiring a professional to guide and help you get the most out of your home sale. While you have to pay 6% of the home sale value to a realtor, having their expert help can enable you to navigate the customs, laws, and marketing. They will help write a listing that sells, coordinate showings, and negotiate the best prices.
Be sure to get referrals and recommendations from people who have sold homes before to an experienced realtor who is well-informed about your community’s real estate market and specializes in listings to ensure that you sell your home for the maximum price.
2. Stage your home
Did you know that staged homes sell for 17% more money than non-staged properties? This shows that you cannot skip home staging if you aim to sell your home for the maximum price. Home staging helps prospective buyers see your home in its best light, allowing them to picture themselves living in the property.
3. Handle strategic repairs and maintenance
Put yourself in a buyer’s shoes before listing your property and identify obvious areas that require repairs and improvements, and fix them. The more repairs a buyer has to handle once they purchase your home, the less they will be willing to pay for the property. Some inexpensive upgrades you could take include adding a fresh coat of paint, landscaping, repairing door knobs and handles, or installing new light fixtures. This gives your home a fresh look and shows buyers that it is well maintained, meaning less work once they move in, encouraging them to pay more.
4. Price it right
If you price your home lower than it should be, you will likely sell it faster but leave money on the table. If you overprice it, you may alienate potential buyers, and the home stays longer in the market, making it impossible to maximize profits. Consider speaking to your real estate agent to help you price your home right, based on the prevailing market conditions. When you set a realistic asking price, you drive more attention from competing homebuyers, and the bidding wars help push the final selling price up.
5. Time your home sale appropriately
The time of the year when you list your home has a significant impact on how long it stays in the market and the price. For instance, fewer buyers will be looking to buy a home in the winter months as they prefer staying home due to cold weather. This means that you may not get as much money as you had hoped. To maximize profits from your home sale, consider listing it in spring. Be sure also to consider when there is an increase in prices of comparable homes in your local real estate market to list your property.
6. Sell to an investor
An effective way to make more out of your sale is by selling to investors. Investors buy homes for cash and as-is. You do not have to spend thousands of dollars on home repairs and upgrades, home staging, or hiring real estate agents.
Maximizing profits when selling your home does not have to be complicated. Hire the right real estate agent, make strategic repairs and maintenance, stage the home, price it right or sell to an investor to sell the house for more.