In the current real estate market, the average home seller can expect a 30% return on investment. That equates to about $54,000. When real estate profits are soaring, it makes sense to try and earn as much as possible from your home sale.
But for the biggest bang for your buck, you’ll have to do more than keep your home as-is. That’s also not accounting for the effect a price negotiation has on the final closing price. Luckily, with the right moves, you can amass a small fortune from your home sale.
Whether you recently inherited a home or are selling your own, here are five selling tips every home seller should know.
1. Enlist a Real Estate Agent
If you’re really trying to squeeze as much profit as possible from your home sale, you may be tempted to avoid a real estate agent altogether. After all, the average selling agent expects an average of 6% of the total sale price. That could be 6% in your pocket instead.
The thing is, things play out differently in practice. Homes for sale by owner often sell for far less than those with an agent. That’s because homeowners lack the market knowledge and negotiation skills required to maximize a home’s closing price.
Since real estate agents are so important, you want to select the one right for you. It’s best to find a seller’s agent with experience in your direct neighborhood as prices can differ from the state average.
How do you find the right real estate agent? By asking the right questions. Homeowners should interview potential agents, asking about recent experience in the surrounding neighborhood as well as their plans for marketing and pricing your home.
2. Keep It Clean
Of all the secrets to selling your home, this one is the most simple: Presentation is key. Before you do anything else, it’s important to make your house presentable. This simple tip will have the greatest impact on your marketing efforts.
Start from the inside out. The fewer possessions you have littered across your home, the more apparent space. For some people, it’s as simple as a spring cleaning.
Others may need to take advantage of a storage unit and hide superfluous furniture and other belongings. Remember that potential buyers will search your entire home, so you can’t stuff your closets to the brim like you did as a child.
While the interior matters, so does the landscaping. Your yard doesn’t have to be worthy of a French chateau, but you should spruce the place up. Take care of dying grass or unkempt vegetation, and consider smaller installations, such as flowers or simple decor.
3. Make Your Listing Shine
In the modern real estate market, most buyers start their search online. That’s why a presentable and accurate listing is an important component to getting as many offers as possible.
What makes a good listing? It starts with the pictures.
Once you’ve decluttered and spruced up the property, hire a professional photographer. You can also take your own photos should you believe your equipment is right for the job. High visual fidelity can make your house stand out, whereas washed out pictures can give buyers the wrong impression.
If your home resides in a well-off neighborhood, video tours have become a popular staging option. Since you can’t do this on your own, ask your real estate agent for professional connections.
4. Fix the Big Stuff
Home buyers know that every real estate property has its fair share of problems. But some problems are worse than others.
Let’s say your home’s roof is in poor condition and in need of a replacement. That could cost a new buyer tens of thousands of dollars. Naturally, they’ll consider repair expenses when it comes to making an offer.
The good news is you can make some of these repairs on your own dime and raise the selling price of your home. Sure, you had to pay $5,000 for a new water heater. But it’s not a total loss, as you can at least partially raise your listing price to compensate.
The best renovations are those with the highest return-on-investment. These tend to be purely aesthetic, such as a new entry door or stone veneer. Work with your real estate agent to determine which renovations are worth doing.
5. Set the Right Price at the Right Time
This is where having a real estate agent really helps. Due to sentimental value, homeowners may believe their home is worth more than the market average. Your real estate agent will find comparables nearby that help you understand what the house is really worth.
Listing your home at a high price doesn’t guarantee you’ll find a buyer. Underselling can sometimes be more beneficial, drawing attention, competition, and offers. Buyers are willing to pay more than the listing price when they really want to secure a sale.
The time you list your house will also factor into its final closing price. March, April, and May are the best months to sell a home. These houses tend to sell for a higher price as there are plenty of buyers, but not all home sellers are yet on the market.
Selling Tips for a Speedy Home Sale
Some selling tips can only take you so far. Sometimes, homeowners may want to sell their home as quickly as possible, but they still want a fair price. Can you relate?
Avoid spending thousands of dollars on renovations and mortgage payments. Sell your house now and close in 10 days or less.
Do you want to sell your house fast in Colorado Springs? Bonnie Buys Houses Fast is your ideal buyer. Contact us today for a great offer.
