Three Tips To Sell For The Best Price
There are several reasons that influence a homeowner to sell a property.
You may have to move out of town for employment, or maybe you want to upgrade or downsize to a different home and neighborhood for personal reasons.
In all of our experience helping buyers and sellers negotiate real estate transactions over the years, there are three things we have noticed that help sellers get the most money for their property, regardless of their unique circumstances.
Tip 1 – Compare Agents, Not Estimated Net Profits
At the end of every real estate transaction is a check that a seller either receives from escrow or has to write. This final dollar amount depends on a number of things including sales price, money owed on existing mortgages, real estate commissions and other seller contributions towards buyer closing costs.
One factor that most sellers don’t think about up-front is the cost of holding on to a property while they wait for the right market conditions, government intervention, sales price or purchase offer.
A real estate agent who specializes in listing and selling properties will help you make an informed decision on what price you should consider listing your property at, as well as what bargaining chips to include when you find a motivated buyer.
Most importantly, an experienced listing agent will be able to set your expectations accordingly so that you don’t waste time or money pricing too high or low.
Tip 2 – First Impressions Last
The second home seller tip is to focus on those first impressions that immediately influence the way a buyer feels about your listing.
Even real estate investors who are motivated by the bottom dollar can be swayed by their emotions when comparing similar properties in a neighborhood.
A clean and welcoming front entry is a great place to start. Removing clutter from counters, multiple family photos from walls or unnecessary furniture will help increase the appearance of space.
You can also thin out closets and cabinet shelf space to help make it easier on the new buyer to imagine how their personal items will fit.
First impressions are lasting. The front door greets the prospect. Make sure it is fresh, clean and scrubbed. Keep the lawn neatly trimmed.
Let the sun shine in. Open draperies and curtains and let the prospect see how cheerful your home can be. Dark rooms do not appeal.
Can you see the light? Illumination is like a welcome sign. A potential buyer will feel a glowing warmth when you turn on all your lights for an evening inspection.
Repairs make a big difference. Loose knobs, sticking doors and windows, warped cabinet drawers and other minor flaws detract from the home’s value. Have them fixed.
From top to bottom. Display the full value of your attic and other utility space by removing all unnecessary items.
Safety first. Keep stairways clear. Avoid cluttered appearances and possible injuries.
Make closets look bigger. Remove the clutter, even behind closed doors. Neat, well-ordered closets show space is ample.
Arrange bedrooms neatly. Remove excess furniture. Use attractive bedspreads and freshly laundered curtains.
Bathrooms help sell homes. Check and repair caulking in bathtubs and showers. Make the bathrooms room sparkle!
Fix that faucet! Dripping water discolors sinks and suggests faulty plumbing.
Three’s a crowd. Avoid having too many people present during inspections. A potential buyer may feel like an intruder and will hurry through the house.
Silence is golden. Be courteous but don’t force conversation with the potential buyer. They want to inspect your house – not pay a social call.
Music is mellow. But not when showing a house. Turn off the blaring radio or television. Let the agent and buyer talk, free of disturbances.
Pets underfoot? Keep them out of the way – preferably out of the house.
Be it ever so humble. Never apologize for the appearance of your home. After all, it has been lived in. Let your real estate professional answer objections. This is part of their expertise.
In the background. The real estate professional is familiar with the buyer’s requirements and can better emphasize the features of your home when you don’t tag along. You will be called if needed.
Why put the cart before the horse? Trying to dispose of furniture and furnishings to the potential buyer before they have purchased the house often loses a sale.
A word to the wise. Let your real estate professional discuss price, terms, possession and other factors with the buyer. Your agent is eminently qualified to bring negotiations to a favorable conclusion.
Tip 3 – Include Loan Programs In Marketing
Our third tip for home sellers involves a strategy that will help you increase your chances of meeting more potential buyers by including loan program information within your agent marketing material.
Keep in mind that many motivated home buyers may not have a relationship with an experienced mortgage professional who has given them all of the options available for a number of down payment or monthly payment scenarios.
However, your personal mortgage lender could provide your listing agent with a few loan programs and estimated pricing options that your property is eligible for.
An example where this could benefit you financially is if you have some minor cosmetic renovations that could be included in your buyer’s mortgage instead of you having to pay for the home improvement costs up-front or result in a negotiated drop in price.
Educating buyers on their financing options for your property will help you increase your chances of meeting the right buyer for your listing.
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