One of the main goals for home sellers is to get the best possible price for their property. But if you’re new in the real estate game, it can be overwhelming and hard to know how to go about things. Is it enough to list your property and wait for a good offer? Should you learn more about what is estimated escrow?
We know that being a first-time seller can be tricky. So, to increase your chances of making a quick and profitable sale, we’ve put together a list of things you can do. We’ll tell you everything you should do to ensure you’re getting the best possible offer on your home. Keep reading to learn the best practices for increasing your profit when selling a house.
Get Your House in Tip-Top Shape
Before you list your house, you want to ensure it is in the best condition possible. That means repairing any damage, fixing broken appliances, and giving it a good deep cleaning. You want potential buyers to come in and see a well-maintained home they can envision themselves living in.
To go above and beyond, reducing your tax implications of selling a home simultaneously, you can do some renovations and increase the cost basis of your home. This way, your home will be even more attractive to buyers, plus you’ll lower your capital gain tax!
Stage Your House
Hiring a staging company can help make your home stand out from the competition and appeal to potential buyers. If your budget allows, this is a great option to consider.
If you want to save money by avoiding professional stagers, there are some things you can do by yourself:
- First, declutter and depersonalize your home by removing family photos or personal items. You want buyers to be able to imagine their belongings in the space.
- It would help if you also rearranged your furniture to create a more open and inviting floor plan.
- Finally, add some fresh flowers or scented candles to give your home a pleasant smell.
These little details will go a long way in making your house feel like a home that buyers would want to purchase.
Pick the Right Time to Sell
The real estate market ebbs and flows just like any other industry. Home sellers during a seller’s market will list their homes to get the most money.
A seller’s market is when more buyers are looking for homes than there are homes on the market. When there’s more demand than there is supply, prices go up. So, if you want to maximize your profits, you’ll want to list your home during a seller’s market.
Another tip is to list your home in the spring, as that is when most people tend to look for new homes and move. However, it’s also important to consider your circumstances and if you are able and willing to wait for the ”right” time. If you’re rushing to sell, go ahead and list your property.
Set the Right Price
Setting a fair asking price for your house is crucial. You don’t want to underprice it and lose out on money, but you also don’t want to overprice it and scare off potential customers. The most accurate way to determine your home’s value is through a professional appraisal. Once you have an accurate value, you can price your home accordingly.
Find the Right Real Estate Agent
Not all real estate agents are created equal. When searching for a real estate agent, you want to find someone with experience who can help you through the selling process from start to finish.
A good realtor will help you time the sale, target the right customers, set a fair price, and list the property. They should also be familiar with your local market and give you advice on how to best market your home.
Experienced realtors have networks of buyers and sellers, so they might already have some people in mind when they get your listing. Having the right contacts is very helpful in the real estate industry.
Tips for Hiring a Reputable Real Estate Agent
In order to have confidence in the realtor you’re working with, use these tips to find the right person for the job:
- Ask for referrals – A great way to start your real estate agent search is by asking around for recommendations from people you trust.
- Do your research – Once you have some referrals, take some time to research each agent. Make sure they’re licensed, and check out their online reviews.
- Interview multiple agents – Once you’ve narrowed your search, interview each agent to see who would best fit you and your needs.
- Obtain a contract – After choosing an agency, make sure to obtain everything in writing. You will be protected and it will guarantee that everyone is aware of the expectations.
Market Your Home Effectively
You must ensure that your home is being marketed to the right people. The most effective method of doing this is to list it on popular real estate websites. You should also ensure that your real estate agent uses effective marketing strategies, such as open houses and print advertisements. Ultimately, it’s in their job description.
Here are some successful marketing strategies to consider when selling a house:
- Email marketing
- Posting on social media
- Staging the house and taking professional photos
- Hosting virtual walkthroughs
- Sharing videos of the property or live-streaming auctions open doors.
These are just some of the ways modern technology can be used to attract buyers and ultimately lead to great offers. Talk to your realtor and find out what marketing strategy they usually use. Collaborating with others could lead to creating something new and different.
Be Prepared to Negotiate
It’s essential to be prepared for negotiation when selling your home. Buyers will always try to lowball you, so you must know how to counter their offers. The most efficient way to reach your goal is by working with a real estate agent who has successfully negotiated in the past. They’ll be able to help you get the best possible price for your home.
You’re Ready to Sell!
Selling a house doesn’t have to be stressful or overwhelming. With the proper preparation and mindset, you can quickly get through it. Make sure to partner with a competent real estate agent, set the right price, and market your home effectively.
These tips will help you sell your house for top dollar. A good strategy and a helping hand will ensure you don’t get lowballed.